US Energy Secretary attacks "sinister" net zero goals and singles out Britain
Chris Wright, the U.S. Energy secretary, called Monday's pledge to reach net zero carbon emission by 2050 "a sinister goal" and criticized British efforts to meet clean energy targets. The former president Joe Biden has set an ambitious goal for 2021: to reduce emissions to zero by 2050 in order to combat climate change.
Britain launches offshore Wind Farm Incentives Scheme
The UK launched an incentive programme for offshore wind projects on Thursday, hoping to convince developers to invest in order to achieve the ambitious goal of decarbonising its energy system by the year 2030. The Clean Industry Bonus scheme will give successful bidders an initial funding of 27 million pounds (33.5 million dollars) for each gigawatt (GW), or capacity, from offshore wind project.
Norway will now focus on floating offshore wind turbines instead of the new bottom-fixed tender
Norway said that it will not be offering acreage for the development of bottom-fixed offshore farms when it announces its next tenders. Instead, it will focus on floating wind power options. The government has previously stated that it will offer new areas along the North Sea, bordering Denmark, suitable for installing turbines on seabeds.
US Energy Secretary criticizes net-zero policy in new order
According to a Wednesday order by Energy Secretary Chris Wright, the U.S. Department of Energy prioritizes expanding energy production above achieving net-zero emissions of greenhouse gases. The secretarial orders are meant to align the Department with President Donald Trump's priorities. Trump has called climate changes a hoax…
French prompts on increasing demand as temperatures drop
The French spot electricity prices rose on February 2nd on the back of increased demand on the weather-exposed wholesale markets, as well as a reduction in wind generation and a tightening of nuclear supply in the country. LSEG data show that the French power price for the day ahead was 70.5 euros ($73.51 per megawatt-hour (MWh) as of 0855 GMT. This is up 90.5% compared to a day before.
Arcius Energy, a joint venture between BP and ADNOC’s XRG, will supply Egypt's gas.
BP and Abu Dhabi National Oil Company’s international investment arm XRG announced on Monday that they had closed a deal to create a natural gas joint-venture in Egypt. ADNOC is expanding its efforts abroad. Arcius Energy is a joint venture owned by BP (51%), and XRG (49%). The joint venture will initially operate in Egypt.
Britain announces plan to encourage the development of clean energy projects
The UK launched on Friday a plan that will make it easier for developers and investors to build clean energy project, which they hope will help them meet their climate targets as well as create jobs. The UK has set a goal to decarbonise the power sector largely by 2030. This will reduce its dependence on gas-fired plants and increase its renewable energy capacity rapidly.
Ukraine's DTEK will receive 107 million euros from EU and US for the rebuilding of power facilities
The European Commission and the United States have announced that Ukraine's largest private power company DTEK will receive 107 millions euros ($112,30 million) to restore the power plants destroyed by Russian attacks against the Ukrainian energy system. The company stated that it would receive 62.8 million Euros from the EU, and $46.1 from the U.S. Government.
IEA: 'Age electricity' will follow the looming peak of fossil fuels
International Energy Agency (IEA) said that the world is at the cusp of a new era of electricity, with the demand for fossil fuels set to peak before the end of this decade. This could lead to an increase in investment in green energy due the surplus of oil and gas, it added. It also highlighted a high degree of uncertainty…
Iberdrola, a Spanish company, doubles its British investment plan from $11 billion to $21 billion
Iberdrola, the largest Spanish power company, has increased its investment plan in its British subsidiary Scottish Power from 24 billion pounds ($31.37billion) to 2024-2028. This was announced ahead of an international investment summit held in London. The investment comes at a time when Britain's Labour government is trying…
Iberdrola, a Spanish company, invests $15.7 billion into Scottish Power's division
Iberdrola - Spain's largest energy company - will invest up 12 billion pounds ($15.7billion) in Scottish Power, its British division, over the next four year, doubling their commitment to the UK in advance of a global summit on investment in London. The investment comes at a time when Britain's Labour government is trying…
Grid operators claim that Britain will have enough energy this winter to meet the needs of its citizens
The UK's electricity and Gas Grid Operators expect enough supplies this winter with more power imported and domestic production available than last season and high gas storage in Europe, said they on Tuesday. National Gas and Britain's National Energy System Operator, (NESO), publish annual reports on the supply and demand for the upcoming winter to assist businesses and governments in preparing.
Meet ZEUS, a Proposed Zero-emission Power Station
Aker Solutions, PETRONAS Carigali Sdn. Bhd., MISC Bhd and Clean Energy System Inc, signed a Memorandum of Understanding (MOU), effectively commencing the Zero Emission Power Station (ZEUS) pilot project, an energy solution that uses oxyfuel combustion with immediate CO2 capture and storage.The ZEUS technology employs advanced…
Mexico's new president appoints an energy expert to lead Pemex
On Monday, Mexico's new president nominated Victor Rodriguez as the next executive director of the heavily indebted oil company Pemex. This was one of the last nominations to the politically and financially volatile energy sector. At a press event, Rodriguez stated that working with the Finance Ministry would be crucial in stabilizing his company…
CorPower Ocean Debuts "Commercial Scale" Wave Energy
CorPower Ocean unveiled the CorPower C4, its first commercial scale Wave Energy Converter (WEC) and CorPack clusters, which the company contends will provide the building blocks for utility scale wave farms.Ultimately, the new CorPower C4 device will form part of a four-system wave array, off the coast of Aguçadoura, Portugal…
Hydrogen at Risk of Being Missed Opportunity, According to DNV Report
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV.In Hydrogen Forecast to 2050, DNV predicts the amount of hydrogen in the energy mix will be only 0.5% in 2030 and 5% in 2050.
TES Wilhelmshaven Import Terminal Deemed a 'Priority Project'
Tree Energy Solutions’ (TES) import terminal has been included in the list of priority projects supported by the German Government’s LNG Acceleration law. The law was passed by parliament on May 19th, 2022 and was approved by the Federal Council on May 20th, 2022. The aim of this law is to accelerate the implementation…
Sustainable Marine Preps to Feed Tidal Energy into Nova Scotia Grid
Sustainable Marine is poised to push the button and feed zero emission electricity generated from the tidal flows in the Bay of Fundy into the Nova Scotia grid, an achievement that follows several months of intense activity in the Bay of Fundy by Sustainable Marine’s Canadian, British and German team, supported by an international…
Wave Energy Developer Plots Strong Growth Plan in '22, IPO in '23
South Korean wave energy developer INGINE revealed ambitious growth plans for 2022,its10th anniversary.Today the company is approaching a landmark fifth year of wave energy operation in North East Asia, via the Jeju Bukchon Wave Power Plant built in 2015. Additional international projects will see expansion across four…
Ship Emissions: MIT Takes the Lead Toward Net Zero
The MIT Energy Initiative (MITEI) launched a new research consortium—the Future Energy Systems Center—to address the climate crisis and the role energy systems can play in solving it. Randall Field, Executive Director, discusses current research and the challenges ahead for the maritime sector.The reputation of the Massachusetts…
