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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.
Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. Project VGV uses surplus electricity generated by renewable and nuclear sources to produce hydrogen via electrolysis.
UK Business Secretary Vince Cable announced the start of a competition to form an Offshore Renewable Energy technology and innovation centre. The new center will focus on technologies for offshore wind, wave and tidal power. The funds will support innovative businesses with high growth potential that are raising equity finance.
This figure includes investment in projects—such as renewables, storage, charging infrastructure, hydrogen production, nuclear, recycling and CCS—as well as end-user purchases of low-carbon energy devices, such as small-scale solar systems, heat pumps and zero-emission vehicles. from the year prior.
MagREEsource, a 2020 spin-off of the CNRS-Institut Néel that is commercializing processes for recycling rare-earth magnets and then remanufacturing new magnets from the recycled powders, has secured €5 million in financing and has opened its first pilot facility in Grenoble, with a capacity of 50 tons by 2023.
As the world contends with a global energy crisis, nuclear power has the potential to play a significant role in helping countries to securely transition to energy systems dominated by renewables, according to a new special report by the IEA.
The Biden Administration announced a series of measures to support rapid offshore wind deployment, including designation of a new wind energy area and targeting the deployment of 30 GW of offshore wind by 2030. New Wind Energy Area. Deploying 30 GW of Offshore Wind by 2030.
The US Army and Air Force are planning to develop 1 billion watts of renewable energy on their installations by 2025. Energy security drives the initiatives, Hammack said, adding that increased usage of renewable energy on military installations would enable them to operate even if local power grids go down.
Starting in 2013, Audi will begin series production of TCNG models whose engines—derived from TFSI units—will be powered by e-gas: synthetic methane produced via the methanation of hydrogen produced by electrolysis using renewable electricity. Wind turbines are the first significant component of the Audi e-gas project.
The US Department of Energy (DOE) issued a draft loan guarantee solicitation for renewable energy and energy efficiency projects located in the US that avoid, reduce, or sequester greenhouse gases. Within the draft solicitation, the Department has included a sample list illustrative of potential technologies for consideration.
The renewable energy sector needs to improve risk management and access alternative sources of capital as operational risks rise and governments cut funding due to the uncertain economic environment, according to a new report by the Economist Intelligence Unit (EIU) sponsored by Swiss Re.
(CPV); GE Energy Financial Services; and Diamond Generating Corporation (DGC), a wholly-owned subsidiary of Mitsubishi Corporation, co-owners of the planned $900-million CPV Sentinel power plant, have closed the largest project financing in the US thermal power industry this year for the facility to be built in Riverside County, Calif.
Energy company RWE and steel producer ArcelorMittal have signed a memorandum of understanding to work together to develop, build and operate offshore wind farms and hydrogen facilities that will supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany.
The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). BloombergNEF’s estimates for the global LCOE for utility-scale PV and onshore wind rose to $45 and $46 per megawatt-hour (MWh), respectively, in the first half of 2022.
A renewable energy share of around 30% by 2030 would be “appropriate” for the UK, with scope for a higher share (e.g. Our overall conclusion in this review is that there is scope for significant penetration of renewable energy to 2030 (e.g. —Renewable Energy Review. Renewable transport.
The A$300 million (US$193 million) Advancing Hydrogen Fund will be administered by the Clean Energy Finance Corporation (CEFC). As an early priority, CEFC will seek investment in projects included in the ARENA Renewable Hydrogen Deployment Funding Round. The CEFC Advancing Hydrogen Fund will draw on existing CEFC finance.
With the integration of a cavern storage facility by RWE in Gronau-Epe, the system, which is based on electricity generation from wind energy, can also make a contribution to supply security. The IPCEI program can finance the network construction in part. The definition of the electricity purchase criteria is still outstanding here.
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.
At that time, Mascoma, Valero, and Mascoma’s operating subsidiary, Frontier Renewable Resources LLC, jointly owned with natural resource management company, J.M. These costs are fully funded, with Valero providing the majority of the financing, and the remainder from awards by the US Department of Energy (DOE) and the State of Michigan.
billion loan in support of the world’s largest wind farm to date. The loan will finance the Caithness Shepherds Flat wind project, an 845 MW wind-powered electrical generating facility located in eastern Oregon sponsored by Caithness Energy LLC and General Electric (GE) Energy Financial Services.
Ranges of global technical potentials of renewable energy sources derived from studies analyzed in SRREN report. The authors reviewed more than 160 existing scientific scenarios on the possible penetration of renewables by 2050, alongside environmental and social implications; and then reviewed with four of these in-depth.
This year has brought a significant shift in the generating cost comparison between renewable energy and fossil fuels, according to detailed analysis by technology and region, published this week by Bloomberg New Energy Finance. In the US, coal and gas are still cheaper, at $65 per MWh, against onshore wind at $80 and PV at $107.
Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 billion of final investment decisions on offshore wind projects in Europe. billion set in 2011. billion, up 39% from 2013.
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 Energy Finance. Earlier Bloomberg New Energy Finance analysis showed that, with gasoline at $2.09 on 30 June to $61.60
Rare earth products are widely used in the generation of renewable energy and in zero-low emissions transport, via the use of rare earth permanent magnets in wind turbines and in the drivetrains of hybrid and electric vehicles.
IFC, a member of the World Bank Group, and the largest global development institution focused exclusively on the private sector, together with the Westly Group, a venture capital firm based in Menlo Park, California, led the financing.
itself will focus on renewables, distribution networks, and customer solutions. SE will have three core businesses: renewables, distribution networks, and customer solutions. will place a particular emphasis on expanding its wind business in Europe and in other selected target markets. SE shareholders. SE shareholders.
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.”
Global wind energy capacity grew by 28.8% GW at the end of 2008, according to the Global Wind Energy Council. More than 27 GW of new wind power generation capacity came online in 2008, 36% more than in 2007. New US wind energy installations totalled 8,358 MW for a total installed capacity of 25,170 MW. billion (US$46.8
billion in new renewable energy capacity in 2020, up 2% on the year, helped by the biggest-ever build-out of solar projects and a $50-billion surge for offshore wind. Europe’s performance was driven by a record year for electric vehicle sales, and the best year in renewable energy investment since 2012. billion (down 11%).
Once finalized, these loan guarantees will provide critical financing to help commercialize advanced nuclear energy technologies, supporting projects that are often unable to secure full commercial financing due to their scale and use of innovative technology. billion in loan guarantees for Advanced Nuclear Energy Projects.
To reach the level of investment in new renewable power generation needed to avert dangerous climate change, $12.1 trillion above business-as-usual projections— according to a new report by Ceres and Bloomberg New Energy Finance. trillion investment in new renewable power globally over the next 25 years.
Processes for sustainable energy production must be environmentally benign, reduce greenhouse gas production, and utilize renewable resources. Wind Energy. Research that focuses on materials science issues associated with wind energy systems will not be considered by this program. Advanced Batteries for Transportation.
For the report, central-station generation refers to >100 MW, with the exception of some renewable-resource-based technologies. LCOE calculations are based on assumptions regarding future unit operations, operating costs, fuel prices, financing terms, and inflation.
The US Departments of the Treasury and Energy announced the availability of an estimated $3 billion for the development of renewable energy projects around the country. Eligible types of renewable energy propertires inlcude: Large and small wind. Biomass (closed-loop and open-loop). Geothermal. Landfill gas. Fuel cells.
The feasibility phase will be followed by the detailed design and engineering, further project development and finalization of offtake routes and financing. The advantage of the location in Duqm is the availability of inexpensive renewable energy (solar and wind), as well as large, accessible sites (on- and off-shore).
GCAES technology can increase utility reliance on renewables, eliminate wind power curtailment, enhance transmission utilization, and make dispatchable renewable power available to customers. General Compression raised more than $17 million in Series A financing in 2010. Founded in 2006, General Compression, Inc.
The Västra Götalandsregionen is financing the feasibility study. The Västra Götalandsregionen is financing the feasibility study. Hydrogen is produced via electrolysis using the excess renewable electricity; the hydrogen can then be used in a fuel cell to generate new electricity and heat when needed.
The slip in the July-September quarter leaves clean energy investment for the year so far running a modest 2% below that in the first nine months of 2017—leaving open the possibility that 2018 as a whole will end up matching last year’s total, particularly if a few more multibillion-dollar offshore wind deals are concluded before Christmas.
Sun Catalytix Corporation (Sun Catalytix), an energy storage and renewable fuels company ( earlier post ), completed a $9.5-million The funds raised in this financing will support continued development of the company’s catalyst technology.
Initiated by Porsche and implemented with partners including Siemens Energy and ExxonMobil, production of eFuels from hydrogen and CO 2 using wind energy is expected to start there in mid-2022. Porsche has been researching the use of renewable fuels for some time. AME remains the majority shareholder of HIF Global LLC.
Falling prices for lithium-ion batteries will enable half the world's electricity to come from renewable solar and wind by 2050. Those are the conclusions of a new report by Bloomberg New Energy Finance (BNEF), released today. That still won't be enough to meet global climate targets, however.
It will also become easier to obtain project financing, because the maximum costs for any warranties are capped by the insurance cover. The product makes it significantly easier for manufacturers to ramp up deployment of battery capacities, thus making renewable energy more dependable and widely available.
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.
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