The California Independent System Operator (CAISO), the grid operator for most of the state, is increasingly curtailing solar- and wind-powered electricity generation as it faces the rapid growth of wind and solar power in California. Grid operators require wind and solar generators to curtail production to reduce energy output below the levels they would have … Continue reading Solar and wind power curtailments are rising in California
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COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030
Abu Dhabi, United Arab Emirates, 30 October 2023 – The COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) launched a joint report today on the sidelines of the Pre-COP event in Abu Dhabi, titled “Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C.” The … Continue reading COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030
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China’s installed solar and wind power capacity saw robust growth this year
China’s installed solar and wind power capacity saw robust growth this year amid the country’s green development push, according to the National Energy Administration, Azernews reports, citing Xinhua. At the end of September, the country’s installed solar power capacity was approximately 520 million kilowatts, up 45.3 percent year on year, and its installed wind power … Continue reading China’s installed solar and wind power capacity saw robust growth this year
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Financial and accounting implications of PPA
It is important to anticipate the financial and accounting implications of preparing PPA contracts. There are important differences in the accounting treatment between physical and financial PPA and, in the case of the latter, their accounting can lead to volatility in the income statement. Experts stress the relevance of long-term price forecasts for a reliable … Continue reading Financial and accounting implications of PPA
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Decarbonising metals and mining: three key strategies to win the emissions battle
The metals and mining industry is responsible for approximately 15% of annual global emissions. As the world increasingly focuses on net zero, the metals and mining industry finds itself in a dichotomy. On the one hand, its products, from aluminium and copper to lithium, nickel and zinc, are essential for the energy transition. But on … Continue reading Decarbonising metals and mining: three key strategies to win the emissions battle
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Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17%
Investments reach €11 billion in the last 12 months Net profit up 17% to €3.64 billion Dividend FY 2023 Net profit outlook raised to double-digit growth Reinforcing financial strength Strategic Plan Delivery Growth based on Networks, with regulatory frameworks covering 96% of asset base closed to 2025 Renewable capacity up 3,100 MW in the last … Continue reading Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17%
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MENA’s Transforming Role in an Evolving Energy Landscape
The Middle East and North Africa (MENA) region has been leading fossil fuel production for decades, creating tremendous economic growth. However, fossil fuel-driven growth has proven to be unsustainable for both people and planet. As the climate action clock ticks, and with the global community in a race to curb carbon emissions, the MENA region … Continue reading MENA’s Transforming Role in an Evolving Energy Landscape
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RE-Source 2023 marks 7.8 GW PPA record but industry urges for barriers to be removed to reach EU net zero objectives
Consistent growth of renewable corporate power purchase agreements (PPAs) proves that corporates are stepping up their commitments to the energy transition. But corporate energy buyers are calling on policymakers to use the EU Electricity Market Design (EMD) reform to remove the remaining barriers to PPAs. Record-breaking year in the EU PPA market with companies procuring … Continue reading RE-Source 2023 marks 7.8 GW PPA record but industry urges for barriers to be removed to reach EU net zero objectives
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Acciona Energía signs new renewable PPA with Stanwell Corporation
ACCIONA Energía has signed a 15-year Power Purchase Agreement (PPA) with Queensland’s publicly owned energy company Stanwell Corporation. The contract encompasses the supply of all the renewable electricity produced at the photovoltaic plant Aldoga (380MW), currently under development and located 20 kilometers north-west of Gladstone on the central Queensland coast. Stanwell plans to use the … Continue reading Acciona Energía signs new renewable PPA with Stanwell Corporation
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GlassPoint partners with MISA to build a solar manufacturing facility in Saudi Arabia
The factory will provide supply chain resilience for the world’s largest solar thermal project, help diversify the Kingdom’s economy and deepen regional leadership as a technology export hub. GlassPoint, the leader in decarbonizing industrial process heat, today announced it has partnered with the Ministry of Investment of Saudi Arabia (MISA) to build a solar manufacturing … Continue reading GlassPoint partners with MISA to build a solar manufacturing facility in Saudi Arabia
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The energy world is set to change significantly by 2030, based on today’s policy settings alone
Major shifts underway today are set to result in a considerably different global energy system by the end of this decade, according to the IEA’s new World Energy Outlook 2023. The phenomenal rise of clean energy technologies such as solar, wind, electric cars and heat pumps is reshaping how we power everything from factories and … Continue reading The energy world is set to change significantly by 2030, based on today’s policy settings alone
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Record wind energy production in Portugal and Spain in the third week of October
In the third week of October, European electricity market prices remained generally stable, with an upward trend in most cases compared to the previous week. However, in the MIBEL market prices fell due to high wind energy production, which reached an all?time record in Portugal and the highest value so far in 2023 in Spain. … Continue reading Record wind energy production in Portugal and Spain in the third week of October
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Net Zero? It’s all about electrification
Today the Electrification Alliance* unveiled a new ‘Electrification Manifesto’ urging the European Commission to fast-track the electrification of Europe. The Manifesto calls for a dedicated Electrification Action Plan in the first 100 days of the incoming European Commission’s mandate. At the launch event, European Commissioner for Energy Kadri Simson was named the winner of the … Continue reading Net Zero? It’s all about electrification
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EDP Renewables surpasses the 1 GWp installed capacity milestone in Asia Pacific
EDP Renewables has more than doubled its installed solar capacity in the Asia Pacific region, from approximately 480 MWp in February 2022 to more than 1 GWp. This is an important milestone for the company as it showcases its steadfast commitment to driving the energy transition across the Asia Pacific region. EDPR has a pan-regional … Continue reading EDP Renewables surpasses the 1 GWp installed capacity milestone in Asia Pacific
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Solar and wind energy are on the rise in the United States
Clean energy is booming in the United States. According to “Renewables on the Rise 2023,” the seventh edition of our annual report on the state of clean energy in America, the United States now generates nearly 12 times as much solar power and 2.6 times as much wind power as it did in 2013. Taken … Continue reading Solar and wind energy are on the rise in the United States
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Acciona Energía signs MOU with the Cebu government for a 150MW solar plant
ACCIONA Energía has announced the signing of a Memorandum of Understanding (MOU) with the Provincial Government of Cebu (Philippines) and Filipino consultancy Freya Renewables for the development of a 150MW photovoltaic plant in the municipality of Daanbantayan, at the northern tip of the Island. The MOU was signed by Gwendolyn Garcia, Governor of Cebu, Rafael … Continue reading Acciona Energía signs MOU with the Cebu government for a 150MW solar plant
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ACP Statement on DOE Grant Funding in Support of Grid Expansion
The American Clean Power Association (ACP) released the following statement today from Vice President of Markets and Transmission Carrie Zalewski after the U.S. Department of Energy (DOE) announced $3.5 billion in federal grant funding to help support grid expansion in the U.S.: “This funding will help support the grid expansion America desperately needs to deploy … Continue reading ACP Statement on DOE Grant Funding in Support of Grid Expansion
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Low-emissions transport fuels to decarbonise shipping and aviation
On 4 October the International Energy Agency brought together experts from government, industry, research and civil society to discuss the role of low-emissions fuels in decarbonising the international maritime and aviation sectors. The workshop was attended by around 20 in-person participants, as well as 17 online attendees from 13 countries. Participants included senior officials from … Continue reading Low-emissions transport fuels to decarbonise shipping and aviation
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IRENA Global Atlas Upgrade Enhances Understanding of Countries’ Renewables Potential
Since its inception ten years ago, the IRENA Global Atlas for Renewable Energy has been the hub for open-source renewable resource assessment and data sharing. The new version 4.1 marks a significant milestone with substantial upgrade in capabilities and functionalities. Building upon its previous version 4.0, the Global Atlas 4.1 enhances users’ experience with a … Continue reading IRENA Global Atlas Upgrade Enhances Understanding of Countries’ Renewables Potential
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Lack of ambition and attention risks making electricity grids the weak link in clean energy transitions
Efforts to tackle climate change and ensure reliable supplies of electricity could be put at risk unless policy makers and companies quickly take action to improve and expand the world’s electricity grids, according to a special report released today by the IEA. Grids have formed the backbone of electricity systems for more than a century, … Continue reading Lack of ambition and attention risks making electricity grids the weak link in clean energy transitions
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