Scottish engineering firm Orbital Marine Power said it had received £8m to operate its O2 tidal turbine. The company said in a statement that the £4m came from the Scottish National Investment Bank, which the Scottish Government set up in November 2020. CNBC reported that the remaining £4 million came from the investment platform Abundance …
World’s Most Powerful Tidal Turbine Receives Funding Read More »
The OPEC Fund for International Development (OPEC Fund) and the International Renewable Energy Agency (IRENA) is making a concerted effort to promote renewable energy investment and open up access to sustainable finance in emerging and developing nations, IRENA said in a press release. The cooperation is formalized by a Memorandum of Understanding that was signed …
Energy Giants IRENA, OPEC Sign MoU for Energy Transition Investments Read More »
The village is famous for the Temple of the Sun, built there in 1026. Modhera has also become famous for the fact that she began to use the sun’s energy, through a solar station, to provide electricity to the entire population of the village – 1400 people. For example, Modhera has a 6 MW solar …
Solar Station Provides an Indian Village with 24-Hour Energy Read More »
A plan to expand the solar panel production capacity of photovoltaic wafers at a plant in China’s Inner Mongolia Autonomous Region has been published by the Chinese company Shangji Automation, Yicai Global reported. The cost of the project is 14.8 billion yuan ($2.2 billion). The Wuxi-based silicon processing equipment manufacturer will build a new single-crystal …
In 2022, global energy sector investments will increase by 8% compared to 2021 and reach $2.4 trillion, as data from the International Energy Agency (IEA) shows. Most of this increase will come from investments in renewable energy sources (RES) and grids and energy efficiency improvements. In the five years since the Paris Agreement was signed …
IEA: Investment in Global Energy Sector Won’t Be Enough to Overcome Crisis Read More »
A group of oil and gas producers including Equinor, Shell and TotalEnergies SE is considering building the world’s largest floating wind farm off the coast of Norway to power its fossil fuel operations. In particular, options are being considered for constructing a 1-gigawatt wind farm to ensure the operation of the Troll and Oseberg oil …
Oil and Gas Group Wants to Build the World’s Largest Floating Wind Farm Read More »
The European Bank for Reconstruction and Development (EBRD) will provide a long-term loan of up to $105 million for the development, construction, and operation of 240 MW wind farms in Khizi and Absheron regions. Local media informs, citing the Bank’s statement, that the approval of the loan by the EBRD Board of Directors is expected …
EBRD To Allocate $105MN to Azerbaijan for the Construction of Wind Farms Read More »
Spanish energy company Repsol is considering various proposals related to the oil exploration and production business, which the company believes to be strategic and in need of support and consolidation in the long term, the company stated in a press release. To date, Repsol has not made any decision on this matter. The press release …
EIG Global Energy Partners Could Acquire 25% In Spanish Giant Repsol Read More »
It seems that a major turnaround in the energy sector is the gradual abandonment of fossil fuels and their replacement with green renewable energy will be impossible without the support of large energy companies, which base their businesses on fossil fuels. It is not disputed that in their strategies they have started the implementation of …
Over the past 12 months, Turkey has managed to save $7 billion on energy imports through the development of sun and wind power, which has helped lower electricity bills amid a sharp rise in gas prices around the world, according to a report by the British think tank Ember, local media reported. The Turkish government …
Sun and Wind Allow Turkey to Save $7bn a Year on Gas Supplies Read More »
