Big Moves
Motor Oil acquires majority stake in 1.9 GW solar projects in Greece
Motor Oil Group, a Greek oil refining business, has completed the acquisition of a controlling stake in Unagi, a company with interests in 1.9 GW of solar projects in different stages throughout Greece, through its subsidiary Motor Oil Renewable Energy (MORE). Motor Oil intends to invest more than €4 billion in energy transformation projects.
News
BlueFloat to develop 7.6 GW of offshore wind projects in the Philippines
BlueFloat Energy, a Spanish offshore wind project developer, will construct a portfolio of 7.6 GW offshore wind projects in the Philippines. The portfolio will be spread throughout four locations: Central Luzon, South Luzon, Northern Luzon, and Southern Mindoro. Each of the sites, with a capacity ranging from 1.5 GW to 3.5 GW, has contracts with the corporation for wind energy service. In April 2023, a road map for the growth of offshore wind in the Philippines was published by the Department of Energy of the Philippines and the World Bank Group.
Interviews
Our goal is to be fully carbon neutral by 2035: EnBW’s Andreas Schell
We have a clear plan for gradually reducing our emissions in all emission categories, known as Scopes 1 to 3. Our goal is to be fully carbon neutral by 2035. To achieve this goal, we plan to halt coal-based electricity and heat generation as early as 2028, provided the necessary policy framework is ready in time. Of course, this raises the question of how we will continue to ensure security of supply. How do we make up for the electricity that we previously generated from coal?
Opinion & Perspective
US solar: The long and winding road to domestic module procurement
Assuming US manufacturers are able to offer domestically manufactured modules and cells at more competitive prices than are currently being offered, the guidance should result in increased US cell manufacturing capacity over the next two or three years. However, if modules with US-made cells are 4-5 c/W higher than imported modules, the upside from the domestic content adder is lower than the savings from using imported modules.
Mega Trends & Analysis
Return To Growth Expected For Non-Hydro Renewables In Peru As Policy Environment Improves
Peru’s non-hydro renewables segment will return to growth, supported by an improving policy environment following years of stagnation amid political instability. Low-carbon power technologies dominate the market’s project pipeline, with non-hydro renewables experiencing lower development risks than planned hydropower and gas-fired power projects. Non-hydro renewables’ share of the power mix will increase over the coming 10 years in line with government targets.
Policy Watch
Reserve Bank of India defines the framework for green deposits
To achieve climate-resilient economies, financial resources need to be directed towards environment-friendly projects and activities. Therefore, as green finance gains traction in the public and private sectors across global economies, the Reserve Bank of India (RBI) has announced plans to establish a framework for the acceptance of green deposits. As a financial instrument, a “green deposit” is an interest-bearing deposit received by regulated entities (REs) for a fixed period.
Tech Talk
Fuel of the Future: Key properties, storage and applications of liquid hydrogen
It is important to note that hydrogen is not a silver bullet for decarbonisation as its production can be carbon-intensive if it relies on fossil fuels. This is because the majority of hydrogen currently produced comes from steam methane reforming, a process that requires fossil fuels as feedstock. In addition, the production of hydrogen from renewable electricity can be expensive and inefficient as significant amounts of energy are required to produce hydrogen through the process of electrolysis.
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Webinars & Videos
Critical Materials for Scaling Up Hydrogen
Hydrogen is expected to grow sevenfold to support the global energy transition, eventually accounting for 10 percent of total energy by 2050. A scale-up of this magnitude will affect demand for critical materials, including minerals and metals, needed for hydrogen technologies— electrolyzers for renewable hydrogen, carbon storage for clean hydrogen, or fuel cells using hydrogen to power transport.
Knowledge Centre
Colombia Sustainable Finance Report
Colombia Sustainable Finance State of the Market 2022 identifies sustainable investment opportunities in Colombia in accordance with the Colombian Green Taxonomy and the potential for green and other thematic instruments to attract investment to the country. The report describes the shape and size of the local green, social, sustainability, and sustainability-linked (GSS+) debt market.
Finance
US Clean Energy Finance Trends 2023
The U.S. renewable energy market is poised for unprecedented growth. The passage of the Inflation Reduction Act (IRA) in August 2022 presents many opportunities for developers and investors. The IRA contains $369 billion in investments to boost clean energy and curb greenhouse gas emissions. One of the biggest wins is the IRA’s long-term extension and expansion of federal tax credits.
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This space is reserved for sponsored content and advertising banners. Sponsored content can include white papers, webinars, case studies, research reports and other relevant content. The advertising can be in the form of banners with links to the advertiser’s landing page. If you would like to promote sponsored content or advertise, please write to us at: marketing@reglobal.co