Egypt reduces renewable energy targets to 40% by 2040, but keeps natural gas as the main focus
The Egyptian government has revised the renewable energy goal for 2040 from 58% to 40%, said Petroleum Minister Karim Badayi on Sunday. He also stressed that natural gas would remain an important part of Egypt's energy mix in years to come. Egypt committed to increasing renewable energy production by 42% to its energy mix before hosting the COP27 summit in 2022. Later, this target was advanced to 2030. Then-Electricity minister Mohamed Shaker announced in June 2024 an ambitious plan for this to reach 58% by the year 2040. This target has now been abandoned.
Germany strengthens domestic wind energy industry
Germany plans to provide state guarantees for the production of wind energy, it announced on Thursday. This is part of a package that aims to boost Germany's wind industry, amid concerns among European governments and businesses about Chinese firms taking a lead in this sector. Berlin will include guarantees in the KfW program for sustainable transformation, according to the Economy Ministry. Around 16 billion euros (17.34 billion dollars) of guarantees are required for a production ramp up by 2030.
Germany announces measures to boost domestic wind industry
The German economy ministry announced on Thursday that it would introduce measures to boost its domestic wind industry. This comes amid concern from European governments and businesses about Chinese companies gaining momentum in Europe. The ministry stated that the measures would focus on improving cybersecurity and reducing dependence for critical components such as permanent magnets. It also aims to ensure fair competition on global markets. This was after a meeting in Berlin with European wind turbine manufacturers, suppliers, and other unnamed parties.
The new Climate Plan of Greece sets higher renewable energy targets
A revised energy and climate policy presented on Friday sets more ambitious goals for the expansion of solar and wind power in order to reduce greenhouse gas emissions by 2030. Athens will target an 82% share for renewables in the electricity generation in 2030, compared to a 66% goal in its previous plan for 2019. The plan is to be submitted for approval to the European Commission. The national energy and climate plans of EU member states detail their contribution towards the EU's target to reduce greenhouse gas emissions by 55% or more by 2030.
Companies call on world leaders to meet renewable energy targets
On Monday, executives from major companies urged leaders to implement an international agreement made at the COP28 Summit in Dubai last year to triple renewable energy capacity by 2030, to combat climate change. The statement was made at a side event to the United Nations Climate Week, in New York. Companies like Amazon.com, a massive energy user and power producers such as Vestas and Iberdrola were among those who issued it. The United Nations has called for countries to submit their national climate plans, due to be presented to the U.N.
Opinion: Egypt Banks on Renewables to Meet Expected Energy Demand Surge
To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic?Egypt’s population has now passed 100 million. As one of the most populous and fastest-growing nations on the African continent, providing electricity to all its citizens is a matter of priority for the Egyptian government.To ensure continuous security and stability of energy supply…
Innovation Pushes Floating Wind Farm Mkt
RWE Renewables (RWE) recently partnered with Spanish engineering firm Saitec Offshore Technologies (Saitec) to develop a floating platform for offshore wind turbines.In a joint pilot project called “DemoSATH”, the RWE and Saitec will start testing a floating platform for wind turbines off the Basque Coast in 2021.This deal places the companies in a strong positipn, as the potential for floating wind power is around 7,000 gigawatts (GW) for Europe, the US and Japan, according…
EU Lawmakers Set Energy Efficiency, Renewables Targets
European Union lawmakers on Tuesday targeted energy savings of 32.5 percent and a renewable energy uplift of 32 percent by 2030, in a push to meet the bloc's pledge under the Paris climate accord to curb global warming.National governments now have until the end of the year to draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent from 1990 levels by 2030, in line with the Paris Agreement.However,…
India's Small Renewables Firms Fighting Consolidation Wave
Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting the sector.The small companies' difficulty in raising cash is keeping them away from government power project auctions, restricting their growth and crippling their ability to refinance loans, said a consultant from a top global consultancy firm.With many smaller operators being gobbled up or offering themselves for sale…
EU Agrees Final Energy Saving, Renewables Targets
The European Union on Wednesday finalized new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030.National governments must now draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent below 1990 levels by 2030 in line with the Paris Agreement.Talks have dragged on for months to reach a compromise between…
J.v.G. Thoma Introduces the Automatic Robot-LayUp 2020
Solar power specialists J.v.G. Thoma GmbH have completed a further automatic robot lay-up, the result of years of research and development by J.v.G. Thoma into the most efficient ways of harnessing renewable energy from the sun. The company is renowned in the field of photovoltaic energy production for their innovative DESERT+ technology solutions, with solar panels designed for use in extreme climatic conditions. Now, with the introduction of the 120 MW, double string removal automatic robot lay-up designed to maximise efficiency in the manufacture of photovoltaic panels…
U.S. Windfarm Builder says Poland Violated Contracts
U.S. company Invenergy LLC, which says it has spent more than $600 million building windfarms in Poland, said on Monday it had written Poland's president to say it was formally in dispute with the government over state companies failing to honour contracts. The company said the letter to Poland's president and prime minister would serve as formal notification of dispute under the U.S.-Poland bilateral investment treaty and the Energy Charter Treaty. "Bilateral investment treaties protect investors whose rights have been violated by another country…
Indian Renewable Firms Plan $2.5 Bln in Offshore Dollar Bond Issues
Four Indian renewable power producers are planning to raise up to $2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said. In addition to the four solar and wind power firms, a fifth company that invests in renewable projects, Adani Group, has raised $250 million via a loan but has yet to publicly announce the borrowing, the sources told Reuters. A source working with one of the bond issues said foreign borrowing was attractive because state banks were reluctant to lend due to existing bad loans to the power sector…
Green Power Law Impacting U.S. Utilities
In the last four years, North Carolina has become the second largest solar market in the United States, behind only California. It has installed more solar energy than Texas, which has nearly three times the population; more than Arizona, which has twice as many sunny days; and more than New York, which has far more aggressive renewable energy targets. North Carolina’s solar boom is rooted in a federal law enacted four decades ago – one that has only recently had much impact.
Alberta power company buys half-built Shell oil sands power plant
Kineticor, a small privately held power producer, has partnered with one of Canada's largest pension funds to buy a half-finished oil sands power plant in northern Alberta that was part of an abandoned Royal Dutch Shell project, the company said on Friday. Alberta-based Kineticor said it had closed the acquisition of the partially constructed 690 megawatt cogeneration plant near Peace River that was part of Shell's 80,000 barrel per day Carmon Creek project. Shell called a halt to Carmon Creek in October 2015, blaming lack of infrastructure in western Canada to move crude oil to markets.
COAG Energy Review Must Power Timely, Practical Reform
APPEA welcomes the announcement today by the COAG Energy Council of an independent review of energy security in the national electricity market, led by the Chief Scientist Dr Alan Finkel AO. “Let’s hope Dr Finkel’s review will drag debate away from polarised positions to a fact-based discussion of how Australia can cut emissions from the energy sector without jeopardising reliable, affordable electricity for consumers,” said APPEA Chief Executive Dr Malcolm Roberts. “As far as some governments are concerned…
Britain to Miss its 2020 Renewable Energy Targets
Britain is set to miss its 2020 European renewable energy targets, a parliamentary committee report said on Friday, setting a poor example for less wealthy countries as the world tries to rein in global warming. Britain has a target to meet 15 percent of its energy needs from renewable sources by 2020, but had achieved just over 8 percent by the end of 2015. "The UK will miss its 2020 renewable energy targets without major policy improvements," said Angus MacNeil, chair of the cross-party Energy and Climate Change Committee.
French Industry Body Backs Ambitious Renewable Energy Targets
A French industry body on Friday increased draft government targets for onshore wind energy capacity ahead of their final publication. In coming weeks, the government will publish a decree with targets for renewable energy capacity, which will implement broad targets set in France's energy transition law and will give firms like EDF and Engie as well as smaller and foreign players clarity about future tender volumes. The energy law - voted last summer - specifies that 40 percent of French power production should come from renewables by 2030…
ABB Wins $140 Mln Order for HVDC Station
ABB has received an order worth around $140 million from transmission system operators Energinet.dk in Denmark and 50Hertz Transmission in Germany to design, supply and install a high voltage direct current (HVDC) converter station in Bentwisch, Northern Germany. The HVDC Light "back-to-back" converter station, the first of its kind in Europe, will allow the connection of the asynchronous AC power grids of Eastern Denmark and Germany. The deal will see ABB provide the complete including transformers…
TenneT Sgns Agreements for Dutch Offshore Platforms
TenneT has signed framework agreements for the future supply of Gas Insulated Switchgear (GIS) and power transformers for the offshore power grid. The equipment will form the 'heart' of five offshore platforms that will transmit the power from five new wind locations to the high voltage grid on land. The transformers will be supplied by CG Power Systems Belgium and the GIS by Alstom Grid Netherlands, which is a subsidiary of Grid Solutions, a GE and Alstom joint venture. Marco Kuijpers…
