UK unveils major new renewables projects
British government has unveiled eight major renewable power projects. Generators and developers receive a fixed strike price for the electricity they produce for 15 years. These contracts are vital to give investors the confidence they need to pay the up-front costs of major new infrastructure projects. By 2020, the projects would provide up to GBP12 billion (USD20.6 billion) of private sector investment, 8,500 jobs, and enough clean electricity to power over three million homes.
Germany, China to tighten cooperation on energy
In China for a visit, German minister Sigmar Gabriel has said there was agreement much greater energy efficiency and a big reduction in greenhouse gas emissions was urgently required. The head of China's National Development and Reform Commission, Xu Shaoshi, welcome a closer cooperation and said the combination of German innovative clout and Chinese speed in implementing economic measures could set a global example for reducing emissions. But there are still some obstacles in the way.
U.S. renewable power grows, Maine leads
About 6.2 percent of total U.S. electricity supplies in 2013 were generated from non-hydro renewable energy sources such as wind, solar, biomass, and geothermal, up from 5.4 percent in 2012, according to the EIA. Maine led all states by generating 32 percent of its electricity - primarily from biomass sources. In all, 11 states produced renewable power at more than twice the national average. Nearly all other states with high proportions relied primarily on wind power.
Ukraine seeking investment in its renewables
Ukraine is seeking investment in its renewable energy industry, as the country aims to curb its reliance on fuel imports from Russia, writes Bloomberg. Biomass and biogas are the most promising forms of renewables for Ukraine, according to a Kiev-based consultancy. Biomass may help replace natural gas used in the nation's 24,000 boiler plants. A major challenge is attracting capital. The country hopes that the U.S. and EU would form partnerships for investment.
India's small green energy gains funding boost
India's domestic lenders are turning to small renewable energy projects to grow their books, as many big projects in the non-renewable sector continue to face operational bottlenecks, according to an article published by mydigitalfc.com. Banks have funded several projects in the renewable energy space, especially special purpose vehicles formed by private equity firms over the past few months.
Encouraging quarter for clean energy investment
Investment in clean energy worldwide rallied nearly 10 percent in the first quarter of 2014 compared to the same period last year, reaching USD47.7 billion, according to Bloomberg New Energy Finance. It is too early to say investment will show a rebound, but the numbers are encouraging. One trend is the increasing share of small-scale solar in overall investment, another one the geographical expansion of investment to more and more emerging economies.
Increasing renewables to avoid climate catastrophe
The transition to a sustainable global energy mix must be accelerated in order to reduce global carbon dioxide (CO2) emissions by 40-70 percent compared with 2010 by 2050, IRENA said in a statement today. Renewable energy is the economically viable and technologically proven option to keep CO2 levels below the widely accepted threshhold level. Investments in renewables would also create 11 million jobs globally by 2030.
Global warming possible to limit with real action
Global emissions of greenhouse gases have risen to unprecedented levels despite a growing number of policies to reduce climate change, says a new IPCC report. Emissions grew more quickly between 2000 and 2010 than in each of the three previous decades. Using a wide array of technological measures and changes in behaviour, it would be possible to limit the warming to two degrees Celsius. But this requires substantial investments and avoiding delays in mitigation.
World shift to green energy - a tiny brake on growth
A IPCC draft says trillion-dollar shifts in investments are needed to make low-carbon energies the dominant source of energy by 2050, up from 17 percent now, in a shift from conventional fossil fuels. But this shift would slow world economic growth by only a tiny fraction every year, a new draft report said on Friday, writes Reuters. The draft is being edited by government officials and scientists and will be published in Berlin on Sunday.
Integration - key to reach EU green power goals
The European Commission wants renewables to account for 27 percent of gross final energy consumption across the European Union by 2030 and by 2050 an essentially decarbonized electricity system. Realizing these goals is proving to be difficult - and not just because of the variable renewable sources, says an article published by Science|Business. Better grid integration of renewable power is the key to advance but it needs comprehensive analysis.
Global wind power market to recover this year
Wind energy installations would grow this year at least 47 gigawatts, a dramatic increase over 2013 levels, according to a new report from the Global Wind Energy Council. The market will be led by China, but with strong recovery in the U.S. market, record installations in Canada, Brazil, and South Africa. The market will resume its steady if unspectacular growth, and end up just about doubling total global installations during the five year period to 2018, the Council says.
Germany gives new start for its energy shift
German cabinet approved on Tuesday a reform of country's renewable energy law designed to curb a rise in the cost of electricity driven by the rapid expansion of green power, writes Reuters. The reform will slow the growth of green energy by cutting subsidies and and forcing new investors in green power to take some risk. Today, renewables account for 25 percent of Germany's electricity. The government plans to increase the share to 40-45 percent by 2025.
New energy pioneers highlight energy transition
Bloomberg New Energy Finance has announced its selection of the 2014 New Energy Pioneers. This year's ten winners represent a broad range of industries from clean energy to water. Each of them has a combination of innovative technologies and new business models, the ability to demonstrate substantive progress in their activities, and the potential for global scale. The winners are highlighting the profound transition in today's energy system.
IPCC's warning bells ring, are policymakers deaf?
An overwhelming new evidence from across the globe is that shifts and changes are occurring in response to climatic changes, says IPCC's latest report. This reinforces the fact that mankind is now irrevocably living in a climate-changed world. "We know what to do. Doing it just needs renewed political will. So as the IPCC continues to ring the warning bells once again, I hope policymakers will not remain deaf to the warnings forever," writes Dr. Saleemul Huq, in his article.
Norway oil fund to ramp up green investments
Norway's USD860 billion oil fund should scale up its investments in renewable energy and weigh the risk to future returns posed by climate change, writes Reuters. The increased scope on green investments will help the fund's ability to actively manage investments in this area. The switch is part of government reforms of the fund that also include changes to its ethical guidelines and a review of its activities in emerging markets.
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