If the three record-busting low solar price tariffs recorded in the Middle East in the past 18 months are to be believed, renewables-powered hydrogen in prime sites in the region could already compete with gas-plus-CCS production, according to IRENA. Has the Gulf discovered the new petrol?
Private sector fossil fuel spending on exploration is drying up just as modest rises in clean energy investments are being observed. With stock market investors increasingly embracing renewables, the IEA has observed positive signals in its latest energy investment report, but warned we are still doing far too little to keep global heating at bay.
Covid-19 disruption has been cited as the chief culprit as imports from China, Thailand and Vietnam slumped from April to January, but safeguarding duty also appears to have had an impact, with unaffected imports from nations such as Myanmar, Chad and Russia on the rise and Malaysian trade keeping steady.
An ‘explosive’, ‘booming’ global solar market in the second half of a Covid-hit 2020 saw the previous glass manufacturing overcapacity reversed, as float and auto glass producers bent all their efforts on making material for PV modules.
The latest set of clean energy statistics compiled by the International Renewable Energy Agency signal a changing of the guard when it comes to clean power, with legacy hydropower facilities overtaken by new intermittent renewables.
The developer said it installed and commissioned seven solar rooftops in just three months despite Covid-19 travel restrictions.
The renewables business formerly known as Scatec Solar has added a 2.5 GW hydropower portfolio in Asia and sub-Saharan Africa and also added its first wind farm while reporting a consolidated loss of almost $43 million for the year.
Falling module prices will help PV post another record year after an estimated 132 GW was installed worldwide in 2020, according to an energy transition investment trends report published by Bloomberg New Energy Finance.
The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
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