This will be the biggest annual rise in emissions since 2010 during the carbon-intensive recovery from the global financial crisis. Paris: Global energy-related carbon dioxide emissions are on course to surge by 1.5 billion tonnes in 2021 – the second-largest increase in history – reversing most of last year’s decline caused by the COVID-19 pandemic, […]
Saudi Arabia sees over $200 billion in savings from energy reforms plan: FinMin
Saudi Arabia could save over $200 billion over the next decade by replacing liquid fuel used for domestic consumption with gas and renewable energy sources, the finance minister said, as the kingdom seeks to cut costs to fund investments. The world’s top oil exporter has embarked on an ambitious reforms programme in recent years to […]
Why A Renewables InvIT Is Critical For Tata Power’s Plan To Pare Debt
As shares of Tata Power Company Ltd. rose, tracking the equity rebound from pandemic-driven lows, investors also bet on the company’s plan to pare debt. But one key milestone for the planned deleveraging has missed the deadline. The power generator planned to hive off its renewables portfolio into an infrastructure investment trust. The InvIT transaction […]
Renewables constitute 98% of Turkey’s power coming online in Q1
Almost all of Turkey’s installed power that has come online from January through March has stemmed from renewable resources, the country’s Energy and Natural Resources Minister Fatih Dönmez said Monday. “The proportion of renewable energy in installed power, which is increasing every day, is going toward 100%. In the first three months, 97.9% of our […]
Leading Oil Producer UAE Says Case For Renewables Never Stronger
The United Arab Emirates, one of the world’s biggest oil producers, said the commercial case for renewable energy has never been stronger. The Middle Eastern country plans to be at the forefront of the transition to greener energy and the fight against climate change even as it boosts oil-production capacity, according to Sultan Al Jaber, […]
New Wind and Solar Up 50% Globally in 2020, as China Beats US by Over 4 to 1
The United States was lying down on the job. The new report on 2020 by the International Renewable Energy Agency reveals that the world’s renewable energy generation capacity increased by an astonishing 10.3% in 2020 despite the global economic slowdown during the coronavirus pandemic. It beats the previous record for an annual increase in this […]
Copper is the new oil: Demand for the metal expected to soar this decade
The 2020s are expected to be the strongest phase of volume growth in global copper demand in history: report The 2020s are expected to be the strongest phase of volume growth in global copper demand in history, as per Goldman Sachs. Goldman Sachs has argued that the critical role copper will play in achieving the […]
Aggressive U.S. Climate Plan Puts Pressure on China, India
An ambitious pledge to cut greenhouse-gas emissions under consideration by the U.S. gives President Joe Biden more leverage when he hosts leaders for a climate change summit later this month — presenting a particular challenge to China’s Xi Jinping. The White House may commit to emissions cuts of 50% or more from 2005 levels by […]
Renewables Buildout to Fall Short of Biden’s Climate Goal
The U.S. probably will fall short of President Joe Biden’s goal of decarbonizing the power system by 2035 even though the nation is on track to almost triple wind and solar capacity over the next 10 years. That’s the assessment of a report Friday from BloombergNEF, which hosts its annual summit in New York next […]
Renewables sector shows ‘resilience’ in 2020 with strong solar installs across Asia – IRENA
The International Renewable Energy Agency’s (IRENA) director-general has hailed the start of a “decade of renewables”, following a 2020 that saw China and the US drive global solar installations. With global clean energy additions beating estimates and previous records to reach 260GW, Francesco Camera said last year’s deployment figures “tell a remarkable story of resilience […]