EU reveals how much each member state can expect from Covid-recovery pot
The European Parliament and Council of Ministers continued to tidy up the details of the bloc’s Covid-recovery package today by publishing the rules of how the money will be disbursed.
European Commission: Natural gas can be part of green transition
The EU today confirmed natural gas-fired power and heat generation facilities can qualify for Covid-recovery spending as long as they fulfil a maximum emission target or are accompanied by credible member-state plans to ramp up renewables usage.
EU set to release initial €7.5bn of green transition fund
With the European Parliament formally voting through a €672.5 billion recovery and resilience fund, the baton will pass to the heads of the European Council and its grouping of economic ministers. It is hoped an initial, 13% slice of the fund will be available to member states from early next month.
Asian Development Bank provides more than $1bn finance for renewables power lines
The development lender has followed up a $600 million loan for distribution infrastructure in eastern Indonesia with a $430 million credit line for installations in India.
China could drive 4.2 TW of solar capacity by 2050 under decarbonization plan
The solar and wind industries could benefit from a $6.4 trillion boom under the most ambitious of two scenarios described by Bloomberg New Energy Finance, and $2.4 trillion even in the business-as-usual outlook.
World could add more than 900 GW of solar by 2025 if politicians grasp the nettle – IEA
With the International Energy Agency publishing its latest five-year clean energy forecast today, pv magazine takes a look at the solar content of the 162-page document.
Major economies should divert fossil fuel Covid-recovery cash to clean energy before it’s too late
A report by Finnish company Wärtsilä has estimated the potential impact if every dollar committed to a non-renewables energy sector recovery was instead funneled to clean power.
IRENA presents $2tn plan to drive 5.5m renewables jobs by 2023
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
