Big Moves
GE and Toshiba plan offshore wind alliance
Toshiba Corp and General Electric are reportedly in talks to jointly produce equipment used in offshore wind power generation. Offshore wind power is seen by Toshiba as a promising business area as the Japanese infrastructure conglomerate seeks to focus more on renewable energy. The two firms are expected to reach a tie-up next month, the sources said.
News
India’s ReNew Power to list on NASDAQ through a $8 billion deal
India’s leading renewable energy venture ReNew Power and RMG Acquisition Corporation II (RMG II) have entered into a business combination agreement to form ReNew Energy Global PLC. Upon the closing of this deal, the combined entity ReNew Energy Global PLC is expected to be publicly listed on the NASDAQ under the symbol “RNW”. This special purposed acquisition company (SPAC) transaction is valued at about $8 billion is expected to close in the second quarter of 2021.
Interviews
There is a need for a strong offshore wind supply chain: Ocean Winds’ Daniel Finch
Ocean Winds began operations with fixed projects in France with 500 MW capacity each in the locations of Treport and Noirmoutier. The company also has operations in the US where it partnered with Shell in developing the Mayflower project, off the east coast. It had also developed a new technology for floating wind which was used to execute an upcoming project off California. Further, Ocean Winds has collaborated with Ignitis for projects in Lithuania and also proposed wind projects in Poland and the Mediterranean.
Opinion & Perspective
Project Collaboration Key To Polish Offshore Wind Sector Ambitions
Offshore wind is poised to play a large role in the Polish power sector. We currently forecast an additional 5.4GW of wind capacity to come online between 2021 and 2030 taking the sectors share of total generation to 15% by the end of the decade. This includes an additional but conservative 1.5GW of offshore wind capacity with a considerable upside risk mounting due to support for the sector and a growing project pipeline.
Mega Trends & Analysis
IEA: India is on ‘cusp of a solar-powered revolution’
The IEA’s India Energy Outlook 2021 finds that the energy demand of the world’s third-largest emitter will expand more than any other nation over the next two decades, edging out the EU to make it the third largest consumer. Under existing policies, India’s emissions are also expected to grow by 50% during this period, offsetting all the cuts in European emissions. Even then, its per-capita emissions will still be “well below” the global average, the IEA says, given that India has the world’s second largest populace.
Policy Watch
Green Mobility: Achieving carbon neutrality through transport in the Middle East by 2030
The countries in the Middle East are making concrete efforts to introduce policies to promote sustainable transport. Qatar and the United Arab Emirates (UAE) are making notable efforts towards green mobility, while Saudi Arabia has announced its intention to build a zero-carbon city as part of its NEOM project. Autonomous vehicles (AVs) are also on the agenda to explore more future-forward transportation.
Tech Talk
Transitioning towards renewable methanol to reduce carbon emissions
A transition to renewable methanol could expand methanol’s use as a chemical feedstock and fuel while moving industrial and transport sectors toward net carbon neutral goals. The cost of renewable methanol production is currently high and production volumes are low. But with the right policies, renewable methanol could be cost competitive by 2050 or earlier.
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Webinars & Videos
Korea’s renewable energy market landscape
Renewable energy poses one of the largest investments and development opportunities in Asia in the next ten years. In Korea, the market is especially focused on diversifying and expanding its energy sources to include solar, wind power and hydrogen. The Korean Ministry of Trade, Industry and Energy recently announced they will target 30-35 per cent of their entire energy network to come from renewables sources by 2040 – up from just eight per cent today.
Knowledge Centre
Europe’s Clean Hydrogen Monitor
Check out this report by Hydrogen Europe to know about the current status of clean hydrogen development in Europe.
Finance
The potential for scaling climate finance in China
China accounts for nearly a third of the global total. Based on its current trajectory, China’s emissions are expected to increase further by 7%-15% by 2030 above 2015 levels, which would more than offset the global decreasing trend. To ensure that China meets its own goals for advancing an ecological society, as well as its stated commitments to the Paris Agreement, climate and green finance needs to mobilize at an unprecedented scale.
SPONSORED CONTENT & ADS
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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