Europe & UK

Europe & UK

Italy can be clean energy hub with hydrogen imports from Africa – study

September 7, 2020 Anand Gupta

MILAN: Italy could become a clean energy hub for Europe by importing hydrogen produced in North Africa from solar power at 10-15% less than it costs to produce locally, a study by consultancy The European House-Ambrosetti and Italian gas group Snam said on Saturday. Presented at a conference in Cernobbio, the study said Italy is […]

Europe & UK

Europe Pledges Push to Cut Reliance on Imported Raw Materials

September 4, 2020 Anand Gupta

The European Union stepped up a push to become less dependent on imported raw materials such as rare earths and lithium, saying supply-chain disruptions caused by the coronavirus outbreak bolster the need for more self-sufficiency. … The pandemic is giving political impetus in Europe to a more active industrial policy. The European Commission vowed to […]

Europe & UK

Belgium does not have to shut Engie nuclear reactor, court rules

September 4, 2020 Anand Gupta

BRUSSELS: A Brussels court ruled on Thursday that Belgium does not have to shut down Engie’s Tihange-2 nuclear reactor after a challenge from several Dutch, German and Luxembourg cities and states citing possible safety defects. Belgium’s nuclear regulator AFCN allowed the 1,008 megawatt reactor to restart in 2015 after it was closed for an […]

Europe & UK

IKEA stores owner Ingka accelerates investments to cut emissions

September 3, 2020 Anand Gupta

STOCKHOLM: Ingka Group, the owner of most IKEA stores, plans 600 million euros ($712 million) in sustainability-related investments over the next 12 months as the world’s biggest furniture brand aims to be climate positive throughout its value chain by 2030… Read More…

Europe & UK

EIB supports UniCredit Bank Austria to develop wind farms

September 1, 2020 Anand Gupta

The volume of the equity and borrowed capital for the planned investment in the wind farm totals €143 million. With this fresh start after the coronavirus crisis, we now have a unique opportunity to join forces and drive the Austrian economy’s transition to a sustainable, climate-friendly system,” said Susanne Wendler, board member of UniCredit Bank […]

Europe & UK

Austria: EIB and UniCredit Bank Austria finance development of one of Austria’s largest wind farms

August 31, 2020 Anand Gupta

Wind farm to have capacity of 143 MW, providing around 90 000 households with electricity produced from renewable energy sources EIB and UniCredit Bank Austria providing total funding of €107,4 million EIB’s share backed by guarantee from European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe “With this fresh start […]

Indian solar association calls for immediate implementation of 50% BCD

Europe & UK

Portugal’s solar energy auction breaks record for low power prices, again

August 27, 2020 Anand Gupta

LISBON: Portugal’s latest auction of contracts to build and operate new solar energy capacity set a world record for the lowest price of future output, the Environment Minister Joao Pedro Matos Fernandes said on Wednesday. One of the winning bids was for output costing as little as 11.14 euros per megawatt hour (Mwh). That compares […]

Europe & UK

Norwegian Pension fund drops Exxon, Chevron, BASF over climate lobbying

August 25, 2020 Anand Gupta

A Norwegian pension fund said Monday that it is divesting over USD 47 million from 27 companies, including Exxon and Chevron, as part of its commitment to combating climate change. The fund warned other major oil and gas companies it might drop them as well. Storebrand, which manages assets worth USD 91 billion, had over […]

Europe & UK

Saipem to build 450 MW offshore wind farm in Italy

August 25, 2020 Anand Gupta

MILAN : Italy’s Saipem has signed an agreement to build a 450 megawatt (MW) offshore wind farm in the Adriatic Sea in northern Italy, the energy services group said on Tuesday. Saipem has agreed with renewable energy companies AGNES and QINT’X to install 56 wind turbines at two sites off the coast of Italian port […]

Europe & UK

Germany To Issue ‘green Bonds’ Worth Up To $13B This Year

August 25, 2020 Anand Gupta

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 said Monday. 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 […]