Malaysia shifts from coal to a mix of solar, gas and electricity
Malaysia will shift away from coal and focus on solar power, said the CEO of the state utility Tenaga Nasional on Wednesday. He added that using renewable sources would keep costs low. Southeast Asia's 35 million-strong nation has increased its coal-fired fleet in order to lower electricity costs. However, it plans to increase the use of solar and natural gas - with the latter being cheaper but the former more flexible.
Britain announces a budget of $1.45 billion for offshore wind auction
Government documents revealed on Monday that Britain will offer a lower budget for offshore winds in its next round of auctions to encourage investment in renewable energy capacity. One analyst said the country would struggle to reach its clean power goals. The documents released on Monday show that the next round of auctions will have a budget for fixed…
ContourGlobal, backed by KKR, targets British renewables
KKR ContourGlobal is planning to enter the renewable energy market in Britain as it pursues a strategy of streamlining that will see other countries removed from its portfolio. ContourGlobal, founded 2005 and listed on the London Stock Exchange in 2017, was acquired by KKR Fund in 2022. "We are simplifying the company and reducing the footprint of the group from 17 to 10 countries…
Malaysia: Multilateral power deal delayed due to Thai politics; renewal expected next month
Malaysia's Energy Minister said that Thailand has postponed the renewal of a multilateral power trading agreement in Southeast Asia due to changes in local politics. The Lao PDR-Thailand-Malaysia-Singapore (LTMS) Project to supply hydropower from Laos via Thailand and neighbouring Malaysia is now expected to be renewed in November, Energy Transition and Water Transformation Minister Fadillah Yusof told .
Malaysia: Multilateral power deal delayed due to Thai politics; renewal expected next month
Malaysia's Energy Minister said that Thailand has postponed the renewal of a multilateral power trading agreement in Southeast Asia due to changes in local politics. The Lao PDR-Thailand-Malaysia-Singapore (LTMS) Project to supply hydropower from Laos via Thailand and neighbouring Malaysia is now expected to be renewed in November, Energy Transition and Water Transformation Minister Fadillah Yusof told .
Report: Global renewable energy growth is still short of climate targets despite record global growth
Globally, renewable energy capacity reached a record high in 2016, but countries still fell short of the U.N. goal of tripled capacity by 2030. This was revealed by a report released by global renewable groups on Tuesday. At the COP28 Climate Summit in Dubai, 2023, more than 100 countries agreed to triple their renewable energy capacity in 2030 in order to achieve global climate targets.
One of India's largest solar companies says that the US market is not worth the risk.
Saatvik Green Energy is one of India's largest solar module manufacturers by capacity. It said that it will no longer be pursuing the once promising U.S. market because it is not "worth the risks" due to the complex tariff issue. According to analysts and industry officials, the United States is India’s largest overseas market. It accounts for 90% of its module exports. Prashant P.
Central Indian state achieves record low price for solar plus storage power project
A top official from the central Indian state Madhya Pradesh said that it had secured India's lowest price ever for solar power backed up by battery storage at a clean energy bid. This could change how states purchase power. The official announced on Saturday that CEIGALL India won the tenders for supplying clean energy to Madhya Pradesh, at 2,70 rupees (3 U.S. Cents) per kWh.
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…