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Qatar invests $125M in energy storage company Fluence

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Fluence, the global energy storage solutions joint venture between Siemens and AES, announced that it has entered into a definitive agreement with the Qatar Investment Authority (QIA) pursuant to which QIA will commit to invest $125 million in Fluence through a private placement transaction.

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IRENA report says tripling renewables investment required to reach 2050 climate goal

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Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). Renewable energy investment slightly declined in 2018, with modest growth through 2019.

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Rolls-Royce Power Systems road map for climate-neutrality; 35% cut by 2030 from 2019; key role of mtu engines

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Rolls-Royce Power Systems has outlined its road map for climate neutrality: Net Zero@Power Systems. By 2030, the Rolls-Royce business unit is to cut greenhouse gas emissions by 35% compared to its 2019 level through the use of new net zero and zero carbon technologies.

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SMUD Board of Directors adopts climate emergency declaration; carbon neutrality by 2030

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The SMUD (2020 Sacramento Municipal Utility District) Board of Directors adopted a climate emergency declaration that commits to working toward an ambitious goal of delivering carbon-neutral electricity by 2030.

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Rio Tinto to invest $1 billion over 5 years to help meet new climate change targets

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Mining giant Rio Tinto will invest around $1 billion over the next five years to support the delivery of its new climate change targets and a company objective for net zero emissions from operations by 2050. Enhance resilience to physical climate risks. Rio Tinto’s new 2030 climate targets are linked to executive remuneration.

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MAN Diesel & Turbo partners with ABB to develop and commercialize new electro-thermal stationary energy-storage system

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MAN Diesel & Turbo Schweiz AG has signed a cooperation agreement with ABB Switzerland for the development, production and commercialization of a three-way energy-storage system. The new Electro-Thermal Energy Storage system (ETES) stores large-scale electricity, heat and cold for distribution to consumers.

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Wärtsilä report finds accelerated adoption of renewables can reduce electricity production costs by up to 50%

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The technology group Wärtsilä has issued a report ahead of COP26, the UN’s Climate Change Conference to be held in Glasgow this autumn, describing the environmental and economic opportunities for states that decarbonize rapidly. As utilities do this, the mindset of energy leaders will change.

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