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Now may be the perfect time to buy shares in green energy giant Ørsted, analysts at Swiss bank UBS said on Wednesday, with winds of change picking up even as the stock has tumbled more than 30% in 2021.Pressure on the renewables sector since February, amid a dampening of market sentiment on clean energy and other growth stocks, has recently depressed shares in Ørsted ORSTED.
India is targeting about 450 gigawatts of installed renewable energy capacity by 2030 and, of that, a lion’s share – 280 GW (over 60%) – would come from solar. For the next 10 years, around 25 GW of solar energy capacity is needed to be installed every year, to ensure the sun continues to shine over the country’s sunrise sector.
The renewable energy industry is booming as wind and solar power plants are built around the world at costs that compete with fossil fuels, even without subsidies. And there are technologies that could drive another phase of growth as energy storage, fuel cells, electric vehicles, and smart homes emerge in the market. With as much growth as there's been, renewable energy stocks have had a hard time gaining traction over the past decade.
Hydroelectricity has powered the lives of Ontarians for a century, and Ontario Power Generation is planning an extensive 20-year overhaul of its hydropower generating units to ensure clean, reliable hydropower continues to support the province’s wellbeing.This refurbishment takes place every 25 to 50 years across operations in the company’s Renewable Generation division. Numerous stations are reaching the critical age for major refurbishment, OPG said.
As world leaders pledge a sharper pivot toward a carbon-free future, an old answer is resurfacing to a many-trillion-dollar question: Where will we get energy when the sun doesn’t shine and the wind doesn’t blow? Set aside thoughts of giant batteries, nuclear fission, natural gas, and pumped hydropower for the moment. The future of global energy markets might be in creating carbon-free hydrogen.
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.
New renewable electricity capacity added in 2020 rose by 45%, compared with 2019, to 280GW, the fastest rate since 1999, according to a new report from the International Energy Agency (IEA). The 'Renewable Energy Market Update: Outlook for 2021 and 2022' report said that expansion rates in coming years are expected to be at a much faster pace than prior to the Covid-19 pandemic.
International Finance Corporation (IFC) plans to debt finance the construction of Thar Surya 1 Pvt Ltd’s 300 MW solar power project in Bikaner, Rajasthan by $50 million. Apart from lending $50 million, IFC will also mobilise $100 million debt through parallel lenders. According to IFC, the total solar power project cost is estimated at $200 million.
Iberdrola has increased its renewable energy footprint in Poland, one of the company’s new growth markets. The group has reached an agreement with CEE Equity Partner to acquire three new onshore wind farms with a total capacity of 163 MW. The production from the facilities is largely already covered by 10-year power purchase agreements (PPAs).
The Student Government (SG) Senate unanimously passed a resolution Tuesday calling on USF President Steven Currall to commit the university to have all electricity come from renewable sources universitywide by 2030 and operate on 100% renewable energy by 2040. The resolution was authored by members of USF’s Florida Public Interest Research Group (PIRG) chapter, including the 100% Renewable Energy Campaign Coordinator Daisy Perez.
Vietnam plans to cut the feed-in tariff for rooftop solar panels by 30.8-37.9 per cent in a bid to reduce pressure on the national power grid following a recent boom in installed capacity, state media reported on Wednesday.Vietnam has had one of the fastest growing renewable energy markets in Asia in recent years, but the development of its transmission system has lagged.
The global offshore wind industry installed 6.07 GW of new capacity in 2020, with China in the lead with over 3 GW, the latest figures by GWEC Market Intelligence. The newly installed capacity was close to the record level of 6.1 GW reached in 2019, in spite of the pandemic. The world's total offshore wind capacity now stands at 35,196 GW.