Europe & UK

Europe & UK

EIB approves € 12.6 billion financing for transport, clean energy, urban development and COVID-19 resilience

September 18, 2020 Anand Gupta

€ 3.1 billion for COVID-19 public health and business financing € 3.5 billion for private sector investment and working capital schemes € 3 billon for clean energy and energy efficiency investment around the world € 2 billion for Naples-Bari high speed train link largest loan in EIB history The European Investment Bank (EIB) today approved […]

Europe & UK

EU’s New 2030 Climate Target Signals Accelerated Renewable Deployment

September 18, 2020 Anand Gupta

An increase from 40 percent to 55 percent emissions reduction by 2030 puts the renewables sector on notice for a ramp-up in demand. The EU will increase its 2030 emission reduction target to “at least 55 percent” up from 40 percent, Ursula von der Leyen, president of the European Commission, confirmed Wednesday. The change will […]

Europe & UK

EU exec wants tougher 2030 climate target, billions in green bonds

September 16, 2020 Anand Gupta

Von der Leyen said the EU should set a target to cut its greenhouse gas emissions by at least 55 per cent by 2030, against 1990 levels, confirming plans laid out in draft Commission documents previously reported by Reuters BRUSSELS: The European Union’s chief executive on Wednesday said the bloc should commit to deeper emissions […]

Europe & UK

Agder, Glitre eye merger to form Norway’s 3rd largest hydropower firm

September 16, 2020 Anand Gupta

Technological change and the electrification of the wider economy are making the energy industry more complex and thus driving consolidation among utilities, Agder and Glitre said. OSLO: Norwegian municipal energy groups Agder Energi and Glitre Energi are exploring a tie-up that would form the country’s third-largest hydroelectric power producer and the number two grid operator, […]

Europe & UK

Russia’s 1st Floating Solar-Powered Aeration Station Launched In Dagestan

September 15, 2020 Anand Gupta

Russia’s first floating solar-powered aeration station has been launched on Lake Akgel in the Republic of Dagestan, the director of the Dagestan Development Corporation told Sputnik MAKHACHKALA : Russia’s first floating solar-powered aeration station has been launched on Lake Akgel in the Republic of Dagestan, the director of the Dagestan Development Corporation told Sputnik. “The […]

Europe & UK

Europe’s electricity could be 80 per cent fossil fuel-free by 2030: industry group

September 14, 2020 Anand Gupta

In the first half of this year, two thirds of electricity generated in the EU was carbon-free. Renewables generation accounted for 40 per cent of the electricity mix and fossil fuel generation dropped by 18 per cent year-on-year to 34 per cent, it said in a report LONDON: As much as 80 per cent of […]

Europe & UK

BP spending $1.1 billion to enter offshore wind market with Equinor

September 11, 2020 Anand Gupta

The British oil and gas company has set itself a target of increasing its renewable power generation capacity 20 fold over the coming decade to 50 gigawatts (GW) BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor , a significant […]

Europe & UK

Spain to offer $215 million in renewable energy subsidies

September 11, 2020 Anand Gupta

MADRID: Spain will inject 181 million euros ($215 million) of state funds into renewable energy projects in seven regions, aiming to boost employment and cut carbon emissions, its Energy and Environment Ministry said on Thursday. The subsidies are part of a chest of 316 million euros Madrid will pour into innovative projects – an amount […]

Europe & UK

Lightsource BP sells five solar energy projects to Statkraft Ireland

September 11, 2020 Anand Gupta

LONDON: Solar energy developer Lightsource BP, a joint venture of BP PLC BP.L, said on Thursday it had sold five solar energy projects to Statkraft Ireland. The projects have a combined capacity of 275 megawatts and are in the late stages of development. They are located in the counties of Meath, Laois, Tipperary and Cork […]

Europe & UK

Germany to issue ‘green bonds’ worth up to $13B this year

September 9, 2020 Anand Gupta

The step is part of an effort to meet demand for environmentally friendly investments and follows the path already taken by other countries, including neighbouring France BERLIN: The German government plans to generate up to 11 billion euros ($13 billion) for clean transportation and renewable energy projects this year by issuing so-called green bond, officials […]