Research group: China has invested over $100 billion in cleantech overseas since 2023.
According to the Australian Climate Energy Finance group, Chinese companies have invested more than $100 billion in clean energy projects since 2023. They do this in order to avoid tariffs on imports from the U.S. CEF's research revealed that China was the largest producer and exporter in the world of solar panels, lithium-ion batteries, and electric vehicles. Its investment, innovation, and manufacturing capabilities led the world by "an astonishing margin", the report said.
India receives $386 billion to expand renewable energy by 2030
Pralhad Joshi, the minister for renewable energy, said that India has received 386 billion dollars in commitments from financial institutions and banks to expand its renewables capability by 2030. Joshi, during the annual Renewable Energy Investors Meet and Expo held in Gujarat State, said: "We have received overwhelming commitments from States and Union Territories and from developers and manufacturers to support our goal 500 GW by 2020". India increased its renewable energy capacity by 18 GW in fiscal 2024 compared to 15.3 GW a year ago…
China Develops 10MW Offshore Wind Turbine
China’s Dongfang Electric Corp. (DEC) has unveiled what it claims will be the country’s first 10MW offshore wind turbine after successfully developing a direct-drive permanent-magnet generator (PMG) for the super-sized machine.The company reported that it underwent testing and is now ready for commercial operations.The new generator is by far the largest of its kind in the country in terms of rotor diameter and unit capacity, according to its developer…
LPG Carrier "Laurel Prime" Christened at MHI
Mitsubishi Shipbuilding Co.held a christening ceremony for a liquefied petroleum gas (LPG) carrier currently under construction for Astomos Energy Corporation. The christening ceremony was held at the Koyagi Plant of MHI's Nagasaki Shipyard & Machinery Works for the ship named “Laurel Prime” by Seiya Araki, president of Astomos Energy Corporation.NYK has traditionally given LPG carriers two-word names that begin with the letters “L” and “P” respectively.
Marco Ryan Plots a Digital, Connected Course for Wärtsilä
When talk turns to the digital revolution sweeping through the maritime industry, one need look no further than Wärtsilä, which has evolved from a shipbuilding company to an engine manufacturer, and is now embarked on a historic digital transformation led by Marco Ryan, Chief Digital Officer & EVP. We met with Ryan recently in Hamburg, Germany, to discuss the path and pace forward.To start, please lay out the scope of your responsibilities.At a high-level my job is to architect and deliver the transformation (of Wärtsilä) to a smart technology company.
Biral Wins Manufacturing Award for Meteorological Sensors
Bristol-based meteorological specialists, Biral, have been awarded the Best Meteorological Sensor Manufacturers award in this year’s Acquisition International (AI) Offshore Excellence Awards. The AI Awards is now in its third year of celebrating worldwide firms that cover the full spectrum of the offshore industry and has recognised Biral for its high quality products and technology designed to detect hazardous weather conditions and improve the safety and operations on offshore platforms.
Zentech Inks Deal for Two Z-210 with CSSC
Zentech Incorporated of Houston, Texas, USA signed contracts with CSSC Huangpu Wenchong Shipbuilding Company Limited for the construction of (2) Z-210 Mobile Offshore Units. These contracts were finalized based on the Letter of Intent received by CSSC Huangpu Wenchong Shipyard on September 23,2015. The Z-210 is a self-propelled, self-elevating, DP-2 capable, ABS Class, high temperature (55 deg Celsius) rated 4-legged mobile offshore unit capable of operating in water depths of up to 280 feet.
ExxonMobil to Expand Rotterdam Hydrocracker
ExxonMobil will expand the hydrocracker unit at its Rotterdam refinery to upgrade heavier byproducts into cleaner, higher-value finished products, including EHCTM Group II base stocks and ultra-low sulfur diesel, to meet growing global market demand. The refinery, operated by Esso Nederland BV, will use ExxonMobil’s proprietary hydrocracking technology and be the first to produce EHC Group II base stocks in Europe. Base stocks are the primary ingredients used in the production of high-quality lubricating oils and greases.
ExxonMobil to Produce Synthetic Oil in Singapore
ExxonMobil is expanding its operations in Jurong to produce synthetic lubricants, including Mobil 1TM, the company’s flagship synthetic engine oil. The expansion will further strengthen the company’s manufacturing capabilities and ability to meet the growing demand for ExxonMobil synthetic products in the Asia Pacific region. When completed in the second half of 2017, the facility will be the only plant in the Asia Pacific producing Mobil 1, the world’s leading synthetic motor oil. The facility will be one of five locations where Mobil 1 is produced.
Schlumberger Acquires Novatek
Schlumberger announced today that it has acquired Novatek Inc. and Novatek IP, LLC., U.S.- based companies that specialize in synthetic diamond technology primarily for the oil and gas industry. The existing relationship between Schlumberger and Novatek has delivered industry-leading technologies, such as the Schlumberger StingBlade* conical diamond element bit, and has been an incubator of novel ideas that are being incorporated into Schlumberger’s newest drilling technology offerings.
Investing in Australia’s Battery Storage Market
A new player is entering the Australian battery storage market with the help of a $6.3 million investment by the Southern Cross Renewable Energy Fund, supported by the Australian Renewable Energy Agency (ARENA). ARENA CEO Ivor Frischknecht said the investment would enable Brisbane based Octillion Power Systems Australia (Octillion) to further develop advanced lithiumion battery storage solutions for Australian and global markets. “Reliable, cost effective energy storage will allow more renewable energy to enter Australia’s electricity markets…
ABB Wins $35 mln HVDC Upgrade Order in Canada
ABB, the leading power and automation technology group, has won an order worth about $35 million from Hydro-Québec to upgrade the 350 megawatt (MW) Madawaska high-voltage direct current (HVDC) transmission link, that connects the grids of New Brunswick and Hydro Québec in southeast Canada. The order was booked in the second quarter of 2014. The project scope includes installation of ABB’s MACH control and protection system and the upgrade of the valves and valve cooling system.
