Italy to Help Sardinia Phase Out Coal with New LNG Plants
Italy plans to send two new units for the regasification of liquefied natural gas (LNG) to Sardinia to help the island phase out coal, a government decree seen by Reuters showed.Sardinia currently relies on two coal-fired power plants for its electricity needs and is slowly developing renewable energy capacity.The government has mandated Italy's gas grid operator Snam to set up a new floating storage and regasification unit (FSRU)
India's power production rises at the fastest rate in five months due to industrial boost
The data of the federal grid operator revealed that India's electricity generation in August increased at its fastest rate since March. Manufacturing activity was accelerating due to strong demand. Grid India's daily analysis showed that the 4% increase in output of electricity last month led to a first-time annualised boost in coal-fired generation in five months.
IRENA reports that renewables are 90% cheaper than fossil fuels in the world.
A report released by the International Renewable Energy Agency on Tuesday showed that most renewable energy newly installed is cheaper to generate electricity than fossil fuels. At the COP28 U.N. Climate Conference in 2023, a target was set to triple the amount renewables such as wind and sun to stay within the 1.5 degree Celsius limit (2.7 Fahrenheit).
Malaysia increases coal power production and imports to meet growing demand
Malaysia has increased its coal-fired electricity production and imported the fuel in record numbers, according to a data analysis. The country is taking advantage of the low prices, but also pledges to use more gas-fueled electricity generation over the long term. Malaysia is the 5th largest exporter of liquid natural gas, but it has stated that due to increasing demand and diminishing gas reserves…
Britain launches a strategy to expand offshore wind and create jobs
The government announced on Friday that Britain has launched its first onshore wind policy, which aims to increase renewable energy capacity and create jobs in this sector. Britain aims to decarbonise the electricity sector in its country by 2030, as part of its efforts to achieve its climate goals and boost energy security. It also wants to reduce its power costs through a reduction in its dependence on fossil fuels.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country increased renewable imports while accelerating local solar power production. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024…
EU approves Italian scheme to support energy-intensive industries
Italy's Energy Minister said that the European Commission had approved a scheme by the Italian government to support power-intensive industries as well as a green transition in Italy. Gilberto Pichetto-Fratin, in a press release, said that the Commission considered "Energy Release 2.0" to be compatible with EU rules on internal markets and regulations on state aid.
Moroccan utility ONEE awarded $340 million for energy transition
The European Investment Bank and the German state lender KfW have granted ONEE, the Moroccan water and electricity utility, a loan of 300 million euros ($340 millions) to support the integration of renewable energies into the national grid. The package includes 170 million Euros from the EIB, and 130 Million Euros from KfW. According to the utility…
RWE has ceased offshore wind activity in the United States
RWE's CEO stated in a speech draft published in advance of the annual general meeting that the company has temporarily halted its offshore wind activities in the United States due to the regulatory uncertainty caused by the Trump administration. Markus Krebber's comments highlight the challenges facing European energy companies on the U.S. Offshore Wind Market, which is a major target of Trump’s energy policy.
UK launches energy security summit by investing in offshore wind supply chain
The UK will host a summit on energy security in London, starting the event by promising to invest 399 million pounds (399 million dollars) into the domestic supply chain of offshore wind projects. After the Russian invasion of Ukraine, 2022, which led to price spikes around the globe and saw the EU try to reduce its dependence on Russian fuels. The UK Government…
Global Wind Capacity in 2024 Falls Short Despite Reaching a Record
A record 117 gigawatts of wind power capacity was installed worldwide last year, slightly more than in 2023, but far less than needed to achieve goals to decarbonise energy, a report by the Global Wind Energy Council said on Wednesday.WHY IT'S IMPORTANTThe world needs to shift to renewable sources, including wind and solar, to contain global warming.Many organisations…
Masdar, a UAE renewable energy company, has completed the purchase of Terna Energy in Greece
Masdar, the renewable energy company of the United Arab Emirates, announced on Thursday that it had acquired a 100% stake in Terna Energy Greece, following its purchase of a majority share last year. This is a step further in their international expansion strategy. Masdar has increased its presence on European markets over the past few months, in…
IRENA: Global renewable energy capacity still falls short of target despite record growth in last year
The International Renewable Energy Agency's (IRENA) report on Wednesday showed that the global renewable energy capacity grew at a record rate in 2024, but still fell short of the 2030 target. Renewables will account for 92.5% (or 585 GW) of the new energy capacity in 2024, a record growth rate of 15.1%. This brings total renewables to 4,448 gigawatts.
Vingroup Vietnam plans LNG and renewable energy ventures
Vingroup, Vietnam's largest conglomerate, announced on Tuesday that it is looking to develop renewable energy sources and liquefied gas power plants. This would be the company's first ventures in the energy sector. The state-run newspaper VietnamNet reported, citing documents the company had submitted to the Government, that the company wanted to be added to a revised national power development plan.
Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade.
Indian firms look to Dutch Royal IHC in order to explore deep sea mineral deposits
Two sources have confirmed that Indian mining and cement firms approached Dutch shipbuilder Royal IHC to ask for assistance in preparing bids for deep sea mineral blocks. India held its first auction of 13 deep-sea offshore mineral blocks in November. These included three construction sand and lime mud blocks as well as seven polymetallic blocks. The blocks are rich in minerals such as cobalt and copper.
FT reports that UK Treasury is considering cutting funding for GB Energy
The Financial Times reported that Britain's Treasury Department is considering cutting funding plans for the state-backed energy company GB Energy during a review of spending scheduled for June. The British government created GB Energy last year with a budget of 8.3 billion pounds (10.73 billion dollars) and envisioned it as its main tool for driving investment in renewable energies.
China reduces carbon intensity by 2024, but still falls short of key targets
China's economy has become less carbon-intensive last year, thanks to a record increase in renewable energy capacity. However, the country is still far short of its 2025 goal. In its annual bulletin, the National Bureau of Statistics reported that by 2024, China's largest producer of greenhouse gases (which warm up the climate) will have reduced its carbon intensity from 3.4% to 3.4%. This was lower than the 3.9% target.
Report: India must double its renewable energy capacity to achieve 2030 clean-energy goals
Global Energy Monitor's (GEM) report released on Wednesday said that India needs to double its annual additions of solar and wind power over the next five year in order to reach its 2030 clean energy targets. This is despite 2024 adding record numbers. According to India's renewable energy minister, solar power will account for 70% of the total additions in 2024.
Lightsource bp has secured 10 power purchases totaling 1.3 GW in the last 12 months
The firm reported on Wednesday that Lightsource bp - a renewable energy developer and a subsidiary of British oil giant BP - secured 10 power purchase agreement (PPA) in the last year, totaling 1.3 gigawatts of renewable energy capacity worldwide. Lightsource bp stated that the PPAs have been contracted in Europe, Americas and Asia Pacific for solar power.