An ambitious package of renewable energy bills that just passed the Michigan Legislature—now on its way to be signed into law by Michigan Governor Gretchen Whitmer—is drawing strong praise from business-friendly clean energy-focused organizations throughout the state and across the nation. Dubbed the Clean Energy Future Plan, the new legislation will require Michigan utilities to … Continue reading Michigan Governor to Sign Clean Energy Future Plan into Law; State Will Operate on 100-Percent Clean Energy by 2040
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IRENA, the Architect of the Energy Transformation
The upcoming COP28 in Dubai offers a unique opportunity to position the renewable-based energy transition as a key solution to address climate change. Given the intensifying international efforts to accelerate progress towards reaching the 1.5°C climate goal, accelerating the global energy transition is in the centre of the climate discourse. IRENA’s World Energy Transitions Outlook … Continue reading IRENA, the Architect of the Energy Transformation
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The United States Harnesses Solar and Wind Energy to Combat Climate Change
In recent years, the United States has made significant advancements in its clean energy transition, driving the nation closer to its 2030 climate target. With the adoption of the Paris Agreement, the U.S. committed to reducing greenhouse gas emissions, achieving carbon pollution-free electricity, and transitioning to a net-zero emissions economy. One notable finding by Climate … Continue reading The United States Harnesses Solar and Wind Energy to Combat Climate Change
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Portugal sets new record for solar and wind energy and exceeds electricity needs for six consecutive days
Portugal has achieved a notable milestone in renewable energy production, exceeding its electricity needs for a record six consecutive days. From October 31 to November 6, the country generated 1,102 GWh of electricity, exceeding the 840 GWh consumed during the same period. This surplus production of 262 GWh demonstrates Portugal’s commitment to sustainable energy sources. … Continue reading Portugal sets new record for solar and wind energy and exceeds electricity needs for six consecutive days
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Can European renewables still turn a profit?
The European Union’s ambitious renewable energy target mandates at least 42.5% of EU energy consumption to come from renewable sources by 2030. For that to happen, developers need positive returns on their renewables investments. With technology costs not evolving as hoped, where will the sources of project profitability come from instead? Our latest insight analyses … Continue reading Can European renewables still turn a profit?
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Can Spanish renewables avoid becoming a victim of their own success?
Despite healthy EU ambitions for the energy transition and the decarbonisation of power, and substantial progress already made in the market, Spanish renewables face some strong short-term headwinds. At our recent Madrid breakfast briefing, we presented insights based on the findings from Wood Mackenzie’s Iberian power markets analysis, exploring the issues facing the Spanish power … Continue reading Can Spanish renewables avoid becoming a victim of their own success?
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China to hold over 80% of global solar power manufacturing capacity from 2023-26
Despite local manufacturing policies in overseas markets, China’s expansion will dominate global solar supply chain, and widen the technology and cost gap. After investing over US$130 billion into the solar industry in 2023, China will hold more than 80% of the world’s polysilicon, wafer, cell, and module manufacturing capacity from 2023 to 2026, according to … Continue reading China to hold over 80% of global solar power manufacturing capacity from 2023-26
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Record wind energy production in Italy and Portugal and downward trend in European electricity market prices
In the first week of November, wind energy production reached a weekly record in Italy and in Portugal it was the second highest in history. In addition, almost all markets registered an increase in production using this technology. This, together with lower demand and lower gas prices, contributed to a downward trend in European electricity … Continue reading Record wind energy production in Italy and Portugal and downward trend in European electricity market prices
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Cambodia Shifts Focus To Solar And Wind Energy
Cambodia is gearing up to embrace solar and wind energy as part of its strategy to meet its growing energy needs, as stated by Minister of Mines and Energy Keo Rottanak during the Singapore International Energy Week event.growatt_inside_jan The country aims to diversify its energy sources, emphasizing solar and wind to complement hydropower and integrate … Continue reading Cambodia Shifts Focus To Solar And Wind Energy
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Chinese state-owned enterprises are the largest owners of solar energy assets
At 240 GWdc, 2022 was the biggest year on record for global solar installations. That relentless growth translated into unprecedented expansions of the operational portfolios of the largest global solar asset owners. Solar portfolios from the top global solar asset owners, including Chinese players, grew by a record-shattering 44% in 2022. This was driven mostly … Continue reading Chinese state-owned enterprises are the largest owners of solar energy assets
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Record Third Quarter for US Clean Energy Installations
The American Clean Power Association (ACP) today released the Clean Power Quarterly Market Report | Q3 2023, showing that the industry brought online 5,551 megawatts (MW) of utility-scale clean power capacity in the third quarter of 2023, enough to power 813,000 American homes. Third quarter installations increased 13% over the same period in 2022 and … Continue reading Record Third Quarter for US Clean Energy Installations
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EEDP Renewables net profit increases to 467 million euros in the first nine months of 2023
Recurring net profit in the first nine months of 2023 increased 12% compared to the same period in 2022, and investment amounted to €3.4bn, with a focus on Europe and North America; EDPR added more than 600 MW in solar capacity since the beginning of the year and has 5.2 GW in wind and solar … Continue reading EEDP Renewables net profit increases to 467 million euros in the first nine months of 2023
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How can sustainable debt support China’s energy transition?
Sustainable debt has become a popular tool to fund green and sustainability-linked activities since it first emerged in the mid-2010s, providing a tailwind to clean energy investment. Global sustainable debt issuances have risen nearly tenfold since 2016, peaking at over USD 1.7 trillion in 2021. These instruments have been leveraged by governments to raise capital … Continue reading How can sustainable debt support China’s energy transition?
Continue readingStatkraft releases report on global energy trends and scenarios for 2050: Growth in renewables will continue despite international turmoil
“Despite increased geopolitical unrest and rivalry, renewable energy growth remains strong and won’t stop or reverse. The cost of wind and solar power, batteries and electric vehicles have dropped significantly over the last decade, resulting in them replacing fossil fuels. Energy security has also become a top priority on the international agenda, resulting in an … Continue reading Statkraft releases report on global energy trends and scenarios for 2050: Growth in renewables will continue despite international turmoil
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Prysmian signs approx. €900 million agreement for the Clean Path New York
Prysmian Group, world leader in the energy and telecom cable systems industry, has signed an agreement worth approximately €900 million with Clean Path New York to provide submarine and land power cable systems for one of the largest transmission infrastructure projects in the United States. Clean Path New York is an $11 billion renewable energy … Continue reading Prysmian signs approx. €900 million agreement for the Clean Path New York
Continue readingThe Iberian market registers the lowest prices in Europe in the last week of October thanks to wind energy
In the last week of October, the weekly average price on the Nord Pool market was the highest since mid-June. Between October 26 and 30, the Iberian Peninsula’s MIBEL market reached the lowest price of all markets, supported by high wind energy generation. TTF gas futures remained at the €50/MWh level for the third consecutive … Continue reading The Iberian market registers the lowest prices in Europe in the last week of October thanks to wind energy
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Solar and wind power curtailments are rising in California
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
Continue readingChina’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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