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New investment in wind, solar, and other clean energy projects in developing nations dropped sharply in 2018, largely due to a slowdown in China. This is due to wind and solar projects generating only when natural resources are available while oil, coal, and gas plants can potentially produce around the clock. thousand in 2017.
The Ukraine state oil and gas company Naftogaz signed a US$3.656-billion credit agreement with the state-owned China Development Bank to finance the program of substituting natural gas with locally produced coal. The program is aimed at improving Ukraine’s energy security and alleviating dependence on foreign natural gas.
FuelCell Energy, Inc., which designs, manufactures, operates and services carbonate fuel cell power plants, announced a broadening and deepening of its existing relationship with NRG Energy including a $35.0-million million investment in FuelCell Energy common stock by NRG Energy and the establishment of a new $40.0-million
.: MEK, Butadiene) from industrial waste gases, has signed a memorandum of understanding with one of the largest coal producers in China, Henan Coal and Chemical Industrial Corporation, to build a demonstration plant to produce ethanol and chemicals via LanzaTech’s fermentation process using syngas resulting from the gasification of coal.
Global investment in renewable energy totaled $226 billion in the first half of 2022, setting a new record for the first six months of a year, according to Renewable Energy Investment Tracker 2H 2022, a new report published by research firm BloombergNEF (BNEF). Wind project financing was up 16% from 1H 2021, at $84 billion.
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report. —Dr Fatih Birol, the IEA’s Executive Director.
Overview of the Bluegas catalytic coal methanation process. GreatPoint Energy and China Wanxiang Holdings have officially closed their investment and partnership agreement which was highlighted during an official signing ceremony between senior US and Chinese government officials in 2012. Click to enlarge. pure methane).
Ciris Energy, Inc., an emerging natural gas production company which uses proprietary technology to convert both underground and mined low-rank coal to pipeline-quality methane biochemically at large scale and low cost, has raised equity in its second round of financing, led by new investor Khosla Ventures.
Siemens Energy, Inc. has been chosen to provide the coal gasification technology for the Taylorville Energy Center (TEC), a 730-megawatt (gross) advanced coal generating plant being developed near Taylorville, Ill. Michael Suess, CEO of the Fossil Power Generation Division of Siemens Energy.
Startup US Fuel Corporation (USF), which plans to design, build, own and operate scalable facilities near coal mine sites to convert coal into synthetic fuels, will acquire coal-to-diesel intellectual property (IP) that USF co-developed with an executive team consisting of Paul Adams and Steve Luck. Andrew Halarewicz, Sr.
Gasification company Synthesis Energy Systems, Inc. has signed an agreement with China Energy Industry Holding Group Co., Limited (China Energy), for a cash investment of approximately US$83.8 China Energy, a Hong Kong-based limited liability corporation, has been formed by Zhongjixuan Investment Management Ltd.
Fossil fuel subsidies continue to far outweigh support for renewable energy, according to new research conducted for the Worldwatch Institute’s Vital Signs Online service. GSI, in collaboration with the National Institute for Public Finance and Policy (NIPFP) and The Energy Resource Institute. GSI: Fuel Subsidies in India.
million grant from the Commonwealth of Pennsylvania to move forward on the construction of a facility to demonstrate its integrated coal-biomass-to-liquids (CBTL) technology platform ( earlier post ) at Intertek PARC, located at the U-PARC facility in Pittsburgh. Accelergy Corporation has received a $1.3-million Earlier post.)
German Federal Minister of Economics Peter Altmaier and Federal Minister of Research Anja Karliczek, together with their Australian counterpart, Energy Minister Angus Taylor, have signed a letter of intent to establish a “Germany Australia Hydrogen Accord” to facilitate a green hydrogen supply chain between the countries.
Panda Power Funds has financed the 1,124 megawatt Panda “Hummel Station” power plant—one of the largest coal-to-natural gas power conversion projects in the United States. The plant will be located at the site of the retired Sunbury coal-fired power plant near Shamokin Dam in Snyder County, Pennsylvania.
Major investments will be needed worldwide in the developing and scaling up of clean energy technologies; sustainable farming and forestry techniques; climate-proofing of infrastructure; and in technologies reducing non-biological degradable waste production, according to the report. consumption where energy-use levels are already high.
introduced legislation that would set an escalating fee on greenhouse gas emissions from large stationary sources to fund investments in energy efficiency and sustainable energy technologies and also provide rebates to consumers to offset increases in energy prices. Investment in energy efficiency and sustainable energy.
Accelergy Corporation recently was awarded an alternative and clean energy program grant from the Pennsylvania Commonwealth Financing Authority to fund a feasibility study to evaluate the viability of the company’s integrated Coal-Biomass-to-Liquids (CBTL) process with the assistance of Raytheon Company and Carbon Cycle Technology Alliance partner (..)
The TCEP would integrate coal gasification, combined-cycle power generation, CO 2 capture, and. This is another important milestone for the Texas Clean Energy Project, coming on the heels of last month’s power purchase announcement with CPS Energy in San Antonio. urea production. Click to enlarge. Earlier post.).
Green Car Congress attended the Renewable EnergyFinance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). Energy Markets in a State of Change. M barrels/day of oil within the next 10 years ”. Billion vs. $28.3
In his State of the Union speech Tuesday night, President Obama proposed “ we use some of our oil and gas revenues to fund an Energy Security Trust that will drive new research and technology to shift our cars and trucks off oil for good. This fund will help low-income Americans pay the higher energy costs that will come from decontrol.
Ceres recently released a new report concluding that coal-to-liquid (CTL) and oil shale technologies face significant environmental and financial obstacles—from water constraints, to technological uncertainties to regulatory and market risks—that pose substantial financial risks for investors involved in such projects.
Second, the US Department of Agriculture proposed a rule on the Biomass Crop Assistance Program (BCAP) that would provide financing to increase the conversion of biomass to bioenergy. It’s been said that the United States is the Saudi Arabia of coal—and that’s because, as I said, it’s one of our most abundant energy resources.
The President’s 2011 Budget provides $28.354 billion for the Department of Energy (DOE) in discretionary budget authority—an 8.9% increase over FY 2010 estimates— to support scientific innovation, develop clean and secure energy technologies, maintain national security, and reduce environmental risk. Solar energy.
Very broadly, the report lays out an agenda to “Invest in Our Future” through education and innovation, “Build on Our Strengths” in the critical sectors of energy and manufacturing, and “Play to Win” by making overdue tax and regulatory reforms to stay competitive. Cuts in this area would be terribly shortsighted.
The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New EnergyFinance. Earlier Bloomberg New EnergyFinance analysis showed that, with gasoline at $2.09
The US Department of Energy (DOE) released a draft for comment of an $8-billion loan guarantee solicitation for innovative and advanced fossil energy projects and facilities that substantially reduce greenhouse gas and other air pollution. The program is part of President Obama’s climate action plan. Earlier post.).
In terms of investment in innovation for cleaner energy, the plan calls for: Investment in advanced fossil energy projects. The proposed solicitation will cover a broad range of advanced fossil energy projects. A Federal Quadrennial Energy Review. New energy efficiency standards.
Siemens suggests abandoning a fixed target for renewable energies and concentrating on the CO 2 reduction goal. Relying on a higher share of efficient, low-emission combined cycle power plants and wind energy could save €150 billion (US$200 billion) by 2030 while attaining the same CO 2 targets, Siemens says. Source: Siemens.
GE Energy Financial Services, a unit of GE, has joined an $8-million funding round for CoolPlanetBioFuels , a start-up company developing a technology that converts low-grade biomass into high-grade fuels, including gasoline, and carbon that can be sequestered. Source: CoolPlanetBioFuels. Click to enlarge.
The A$300 million (US$193 million) Advancing Hydrogen Fund will be administered by the Clean EnergyFinance Corporation (CEFC). CEFC finance remains central to filling market gaps, whether driven by technology, development or commercial challenges. The CEFC Advancing Hydrogen Fund will draw on existing CEFC finance.
Global energy investment stabilized in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review. trillion in 2018, a level similar to 2017.
The global geothermal industry surpassed 12,000 MW of geothermal power operational, with about 600 MW of new geothermal power coming online globally, according to a year-end update by the Geothermal Energy Association (GEA). Ormat Technologies, and AltaRock Energy. It was built by US Geothermal and TAS Energy.
The US Department of Energy (DOE) published a solicitation ( DE-SOL-0006303 ) making up to $8 billion in loan guarantee authority available to support advanced fossil energy projects that avoid, reduce, or sequester greenhouse gases. —Energy Secretary Moniz. Earlier post.)
During the COP28 climate conference held in Dubai last month, world leaders from over 130 national governments agreed to set a goal to triple world renewable energy installations by 2030. There are still some big hurdles to overcome, including the difficult global macroeconomic environment.” “For
Panda Power Funds has entered into a joint venture with Sunbury Generation LP to develop, finance, construct and operate a 1,000 megawatt natural gas-fueled, combined-cycle power project near Shamokin Dam in Snyder County, Pennsylvania. Construction will take approximately 30 months and will commence upon financing and other conditions.
A three-year study by a team of researchers based at MIT has concluded that fundamental changes are needed in the US energy-innovation system. Neither the failure of global and US climate policy nor the emergence of other pressing issues changes the facts about climate and energy. Business as usual is unsustainable over the long run.
LCOE calculations are based on assumptions regarding future unit operations, operating costs, fuel prices, financing terms, and inflation. impacts on existing generating plants from pending or anticipated environmental rules on emissions, use of water resources, and coal ash handling and disposal.
Energy crop company Ceres, Inc. is working with CHOREN , a Biomass-to-Liquids (BTL) technology company, to optimize energy crops for thermochemical conversion to advanced low-carbon biofuels. The two-year bioenergy project is funded in part by a grant from the US Department of Energy. Ceres ARPA-E Award. Earlier post.).
Based on BNEF’s New Energy Outlook, its annual long-term scenario analysis on the future of the energy economy, the report examines how Indonesia’s energy supply may evolve under BNEF’s Economic Transition Scenario (ETS) as well as a Net Zero Scenario (NZS) compliant with the goals of the Paris Agreement. trillion under the NZS.
These are the people who in the face of science that says we must transition from fossil fuels to renewable energy or destroy the futures of our children and all who come after them, still want to drill for oil that should never be burned. There are no bigger cowards then the people who work for the oil, coal and gas industries.
earlier post ) has completed a $25 million Series D financing round with Quantum Strategic Partners Ltd., The world’s power infrastructure must become radically more efficient to meet the energy and environmental challenges of the future. The Advanced Research Projects Agency-Energy (ARPA-E) awarded Transphorm $2.95
For e-car batteries and energy storage alone, Europe will for instance need up to 18 times more lithium by 2030 and up to 60 times more by 2050. A special focus will be on coal-mining regions and other regions in transition, with special attention to expertise and skills relevant for mining, extraction and processing of raw materials.
The International Energy Agency (IEA) last week launched the 2011 edition of the World Energy Outlook (WEO), the current edition of its annual flagship publication assessing the threats and opportunities facing the global energy system out to 2035. Click to enlarge. The passenger vehicle fleet doubles to almost 1.7
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