Big Moves
IKEA to promote renewable energy procurement at its suppliers in various nations
Swedish furniture company IKEA has recently announced a program to secure 100 per cent renewable electricity at direct suppliers in India, China, and Poland, which are some of its largest purchasing countries. The said program will be introduced in 2021, followed by a stepwise global roll-out. As more than 65 per cent of the company’s climate footprint is linked to its supply chain, it is aiming for 100 per cent renewable energy throughout its entire value chain.
News
Parkwind’s 247 MW Arcadis Ost 1 offshore wind project reaches financial close
Parkwind NV, which is based in Belgium, has reached financial closure on its Arcadis Ost 1 offshore wind project in the German part of the Baltic Sea. The project has a capacity of 247 MW and will be located in the waters of the Mecklenburg-Western Pomerania state.
Interviews
Hydrogen will play a key role in mobility & industry sectors: Commisioner McAllister
Hydrogen, and green hydrogen in particular, has become a topic for discussion and action across the United States, especially in the western state of California. It has also come up with initiatives to promote the uptake of hydrogen, which is a key piece of the puzzle for reaching net zero emissions. At the virtual conference on Green Hydrogen US hosted by Global Transmission Report with support from REGlobal, the Honorable J. Andrew McAllister, Commissioner, California Energy Commission, shared his insights on green hydrogen related developments in the state.
Opinion & Perspective
The US Set a Record for Renewables in 2020, but More Is Needed
According to Bloomberg New Energy Finance, the U.S. installed 35 gigawatts (GW) of new renewable generating capacity in 2020, enough to power 9 million homes. Installation rates of solar (18.7 GW, up 65% from 2019) and wind (16.5 GW, up 178%) skyrocketed. Renewable energy purchases by cities (3.7 GW) and corporate buyers (10.6 GW) increased substantially in 2020, up 23% and 14% respectively from 2019.
Mega Trends & Analysis
Saudi Arabian Power Sector: Embarking on energy transition journey
Saudi Arabia, under its Vision 2030, is implementing one of the largest RE expansion plans in the region. Further, the transition towards clean energy will help greatly in decreasing its carbon footprint and positioning itself as an RE leader in the region. In line with the ambitious targets, SEC is taking the necessary initiatives to create a robust and smart grid to fully evacuate power from the planned RE generation.
Policy Watch
Solar PV Power Opportunities and Challenges in China Under a Carbon Peak Scenario
Solar PV electricity has grown dramatically in the last decade, becoming the third-largest source of renewable energy. Solar PV power (713.97 GW) has become an important renewable energy resource, second only to hydropower (1739.88 GW), and has made substantial contributions to fulfilling global energy demand and sustainable development. Within the newly installed worldwide capacity of Solar PV, China accounted for the highest proportion of 49 GW (cumulative 254.35 GW) in 2020, with 126.84 GW (cumulative 713.97 GW).
Tech Talk
If tech powers the future, who powers the tech?
For the power and utilities (P&U) sector, the long-imagined future of energy is becoming the present: governments are aggressively planning to decarbonize, the prices of renewables and electric vehicles (EVs) are falling, and both customer and investor expectations are becoming more aligned with sustainability. EV adoption will soar, creating a vast replacement market, new fuel opportunities and a new ecosystem tapping into new value pools, but the market is highly competitive.
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Webinars & Videos
IRENA Hydrogen series – Part 1: Green hydrogen: A guide to policy making
The webinar presented key takeaways from the recent IRENA report Green Hydrogen: A Guide to Policy Makers and highlighted the policy pillars to transition green hydrogen from niche to mainstream. These include building national hydrogen strategies, identifying policy priorities, guarantees of origin and enabling policies.
Knowledge Centre
Tracking the impacts of innovation on offshore wind
Clean energy technology innovation – particularly research, development and demonstration (RD&D) – plays a critical role in accelerating the global energy transition. As this transition progresses and ambitions grow, the need for strong government support for innovation grows alongside it. Innovation support is a combination of multiple measures, including RD&D funding (from the public and private sectors), market instruments and policy measures. Together, these guide and encourage innovation activities.
Finance
Bond structures for financing a sustainable recovery
Recovery Bonds link a country’s borrowing to the targeted deployment of capital, designed to facilitate a low-carbon sustainable recovery that can bring economic, social, and climate priorities together. This paper lays out a prospective blueprint to facilitate the issuance of Recovery Bonds, focusing on two potential use cases: sovereign green bonds as part of issuances financing recovery, and bonds linked to fossil fuel subsidy reform (FFSR).
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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