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U.S. installed 26 gigawatts of new clean power in 2020; 170 GW of capacity enough to power 50 million homes Industry employs 415,000 Americans and has invested $334 billion in the U.S. economy since 2005 with more growth coming The American Clean Power Association today released its first Clean Power Annual report, which showed wind, utility solar, and battery storage power capacity in the U.S. topped 170 gigawatts (GW), following a record 26 GW of clean energy projects coming online in 2020.
Some $150bn was invested in clean energy in developing economies last year, according to new International Energy Agency (IEA) analysis. But the Agency believes this figure must hit $1trn by 2030 to deliver a net-zero world.The new analysis, published today (9 June) as part of a collaboration with the World Economic Forum (WEF) and World Bank, assesses the investments made in renewable generation, nuclear generation, biofuel generation and related technologies in recent years.
Change Malik Amin Aslam on Sunday said Pakistan would become the world’s best example in green energy revolution as the government was on track to meet its renewable energy targets by 2030 and will raise it to 60 percent through renewable resources. Pakistan was encouraging private sector investment in renewable energy projects to reach its clean energy goal by 2030 and it would produce 60 percent of its electricity from renewable sources.
Following President Biden's Interim National Security Strategic Guidance signaling for continued growth in partnerships with African economies, the African Energy Chamber (AEC) believes it is vital to engage U.S. companies and investors to counter the often-wrong preconceptions about investing in the continent, as Africa has some of the fastest-growing economies globally and possesses significant investment and development opportunities for U.S. firms. Majors like Chevron, ExxonMobil, and Kosmos Energy making significant discoveries and operating in multiple countries like Angola, Mozambique, Nigeria, Equatorial Guinea, Senegal, Ghana, and others.
Sweden’s wind power market closed the first quarter of this year with almost 1GW of new capacity contracted and investments worth Skr10bn (€990m), according to figures from trade group Svensk Vindenergi. Most of these new projects are located in northern Sweden, with as much as 75% of the new wind power capacity to be added in the electricity areas SE1 and SE2.
Amp Energy’s Australian operating company, Amp Power Australia, is set to establish a portfolio of integrated solar photovoltaic (PV), wind and battery energy storage (BESS) assets. Amp Energy’s Australian operating company, Amp Power Australia, is set to establish a portfolio of integrated solar photovoltaic (PV), wind and battery energy storage (BESS) assets. The Renewable Energy Hub of South Australia (REHSA) will involve a total investment of more than A$2bn ($1.54bn).
Joaquim Silva e Luna, the new chief executive of Brazil's Petrobras, will look to respect the company's current pricing policy and keep investing in deepwater assets, he said at his swearing-in ceremony on Monday.The comments by the former army general signaled that Petrobras' incoming administration will attempt to maintain some form of continuity with the policies of the previous administration, which generally won market plaudits.
Saudi Arabia is celebrating one of the biggest foreign-investment windfalls in its history after netting more than $12 billion by selling off a stake in the oil pipelines that traverse the desert kingdom.But the country may also be facing an uncomfortable reality as a result. As carefully cultivated relationships with firms such as BlackRock Inc. and SoftBank Group Corp. have yet to draw in the desired investment, it’s turning to the jewels of its energy industry to attract new money.
Saudi Arabian energy company ACWA Power has announced the opening of a utility-scale solar renewable energy project in the country. The 300MW Sakaka PV independent power producer (IPP), which was built with an investment of SAR1.2bn ($319m), was inaugurated by Crown Prince Mohammed bin Salman. Salman said: “The private sector plays a fundamental role in the development of renewable energy projects in Saudi Arabia.
Energy infrastructure company Sempra Energy said on Monday it would sell a 20% stake in its new business platform, Sempra Infrastructure Partners, to investment firm KKR for $3.37 billion in cash.The sale was flagged by Sempra in December and comes as the company sharpens its focus on renewables and energy storage to capitalize on the growing global demand for cleaner fuels.
Bloomberg) --Iraq is discussing a “giant” agreement with French oil giant Total SE to build large infrastructure installations, develop oil fields and produce gas, Oil Minister Ihsan Abdul Jabbar told Asharq News in an interview that aired on Saturday.The agreement is giant, and the volume of the investment exceeds $7 billion,” the minister said.
South Africa has announced fresh plans to alleviate the severe electricity crisis in the country, including three offshore power ships, greater use of solar and wind energy. Minister of Mineral Resources and Energy Gwede Mantashe, on Thursday, announced eight preferred bidders in the government's emergency risk mitigation programme, which will enable independent power suppliers to supplement the electricity produced by the sole national supplier, Eskom.
China's goal to become carbon neutral in 2060 will require $6.4 trillion of investment in new power generating capacity, leading to a tectonic shift in manufacturing and commodity imports while boosting its energy security, consultancy Wood Mackenzie said on Thursday. China has been grappling with rising oil and gas import dependency while facing increasing geo-political tensions that threaten its energy security.
Spending by oil and gas companies operating in the UK North Sea fell to the lowest levels since 2004 last year as they concentrated on preserving cash during the pandemic, while production from the more than half a century-old basin has re-entered “longer-term” decline.
An Australian-dominated consortium is in line to buy windfarm operator Tilt Renewables for nearly $3 billion.The consortium of Queensland Investment Corp., AGL Energy, Australia's Future Fund, and Mercury Energy will pay $7.80 a share for Tilt, which has windfarms on both sides of the Tasman. Tilt was effectively put on the block last year when its two-thirds owner Infratil announced a review of its investment.
The U.S. company ConocoPhillips is buying back stock at an annualized rate of $1.5 billion to return more cash to investors. That’s an increase of 50% compared with the pace of repurchases in the fourth quarter, the point at which the program was suspended in the wake of Conoco’s acquisition of rival producer Concho Resources Inc. The shares rose 1.5% in pre-market trading in New York.
The Government of India revealed its proposal to invest $6 billion to build a petroleum refinery project in Myanmar’s Thanlyn region near Yangon. It is aimed at strengthening India’s ties with Myanmar, propel their cooperation in the energy sector and diplomatically counter Myanmar’s dependence on infrastructure development from China.
National climate advisor Gina McCarthy told oil and gas industry executives that rebuilding the COVID-19 battered U.S. economy is a once-in-a-lifetime opportunity to invest in a rapid transition to clean energy. McCarthy headlined the CERAWeek virtual conference, where she pitched an optimistic picture of a low-carbon economy based on electric vehicles and renewable energy for the next four years.