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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