AsiaElec - Asia Power

COP27: “Loss and damage” fund to be created, but no phase-out of fossil fuels

In a historic step at COP27, negotiators from nearly 200 countries at the UN summit in Egypt agreed to establish a “loss and damage” fund to help developing countries cope with climate mitigation.

Botswana: India’s Jindal Steel & Power wins tender to build 300MW coal-fired power plant

China, US lock horns over climate commitments

Petronas, Vopak pen deal on CCS study

Climate paralysis at COP27 as no progress made on 1.5 degrees

COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.

COP27: Coal proves a stubborn foe in fight to save climate

Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.

COP27 warns business cannot be trusted to police greenwashing

The UN has identified greenwashing by business and finance as the biggest danger facing the race to net zero, urging them to avoid a toxic cover-up and to ensure that any climate pledges they keep are in line with the 1.5-degree targets.

India set for 3.6 GW of green open access capacity in 2023

India could add a record 3.6 GW of open access renewable capacity in 2023 as industrial consumers look to lower electricity costs and meet sustainability goals.

AsiaElec: India set for 3.6 GW of green open access capacity in 2023

Petroleum Sarawak plans four gas hubs over next decade

Wind turbine maker Siemens Gamesa records huge loss in fiscal year

The world’s third largest wind turbine maker Siemens Gamesa reported a net loss of €940mn ($973mn) in the 2022 fiscal year ended September 30.

Report – most nations behind on offshore wind goals

A new report from Renewables Consulting Group (RCG) find that of the 15 countries with specified offshore wind goals for 2030, 80% will miss the mark. The report was released at COP27 in Sharm El-Sheikh, Egypt.

Korea’s Doosan Enerbility secures $1.2bn deal for Egypt’s Dabaa nuclear plant

Pakistan set for gas, power rationing amid LNG crunch

Australian government rules out windfall tax on gas, coal profits

Pertamina, ExxonMobil join forces for CCS project

Uberwealthy are the worst climate criminals

The investments of the world’s 125 wealthiest people produce the same amount of CO2 as the whole of France, while each of them emits a million times more greenhouse gases than the average person.

Gas has potential to derail COP27’s green ambitions

Emissions from future LNG projects and could use up 10% of the remaining global carbon budget for 1.5˚C warming by 2050.

China, Japan, South Korea build energy stocks ahead of winter demand

Indian solar hurting without local suppliers

AsiaElec: Indian solar hurting without local suppliers

EU taps Kazakhstan for rare earths, green hydrogen

Kazakhstan is itching to get its lithium out of the ground.

Japan’s largest utility teams up with Scottish offshore wind company

A subsidiary of Tokyo Electric Power Company (TEPCO), Japan’s largest electricity utility, is for the first time venturing into overseas offshore floating wind markets.

ARTSolar, China's Talesun set up photovoltaic module production plant in South Africa

Another international partnership moves Chinese CCUS forward