Bosnia to invest about $2 billion in clean energy over next 5 years – EQ Mag Pro
RIYADH: Aside from the war between Ukraine and Russia, countries and individual firms are starting to slowly shift focus once again towards their own long-term goals and objectives within the sector.
Countries like Bosnia and China are seen making new investments and setting new targets revolving around renewable and clean energy. Through a micro lens, individual firms are seen making investments, collaborations, and taking initiatives, also paving the way for a green future.
Looking at the bigger picture:
Bosnia is planning to inject a total of 3.6 billion Bosnian marka ($2 billion) in renewable energy projects over the span of the next five years amid the global clean energy push, Reuters reported. Nevertheless, the Balklans country will still run coal-fired plants normally despite objections from the European Union.
China has announced a target to produce as much as 200,000 tonnes of carbon-free green hydrogen annually by the year 2025. The Asian country has also set a goal to have 50,000 hydrogen fueled vehicles by 2025, Reuters reported, citing the National Development and Reform Commission.
Through a micro lens:
South Korean storage battery manufacturing company LG Energy Solution and Netherland’s multinational automotive manufacturing corporation Stellantis NV plan to invest over $4.1 billion to establish, through a joint venture, a new electric vehicle battery plant in Canada.
LG Energy Solution will invest a total of $1.5 billion and is set to own 51 percent of the venture while Stellantis will own the remaining 49 percent, Bloomberg reported.
Warren Buffet-backed American energy company Occidental Petroleum Corp. will construct 70 carbon capture plants dispersed around the globe by 2035, Bloomberg reported. Combined, the facilities are projected to remove up to one million tons annually of the greenhouse gas directly from the atmosphere.
Source: Reuters
