IRENA: Renewables can account for up to two-thirds of total energy use, and 85% of power generation by 2050
In the latest edition of its long-term renewable energy outlook, IRENA calls for at least six-fold deployment of renewables by 2050, compared to the levels set out in current plans. Investment in low-carbon technologies needs to grow by around 30% to US$120 trillion to enable the energy transition and avoid escalating stranded assets, the report finds.
Battery, smart grid and efficiency companies raise $1.5 bn in VC funding in 2017 – Mercom
In 2017, battery storage, smart grid and energy efficiency companies saw a YoY increase in venture capital funding, garnering a combined US$1.5 billion, up from the $1.3 billion raised in 2016, finds the latest Mercom Capital report.
Global Environment Facility along with ADB will provide $454 million funding to EESL clean energy projects
Energy Efficiency Services Limited EESL’s projects, under one of the largest funding by Global Environment Facility (GEF) to date, will mitigate 60 million tons of CO2 emissions. UN Environment’s ‘District Energy in Cities’ initiative already identified $600 million of energy efficiency projects across five cities in India.
Battery storage, smart grid, efficiency companies raise $ 435 million in VC funding in Q1
Battery storage, smart grid and energy efficiency sectors experienced YoY increase in venture capital funding in Q1 2017, finds the latest report by Mercom Capital Group. QoQ increase reported in all but battery storage.
