Europe & UK

Europe & UK

Austria’s Verbund ready to invest five billion euros in low-carbon projects

July 31, 2020 Anand Gupta

VIENNA: Austrian hydropower producer Verbund sees potential to invest 5 billion euros ($5.9 billion) over the next decade in projects that lower carbon emissions but it needs a reliable regulatory framework to do so, its CEO said. The European Union’s green finance deal is encouraging but lacks clarity, Wolfgang Anzengruber said on Thursday, urging lawmakers […]

Europe & UK

Spain: EIB provides €35 million to Endesa to install 8,500 electric vehicle charging points

July 30, 2020 Anand Gupta

An initial 2 000 charging points will be rolled out to roads and public spaces before the end of the year. The project will avoid the emission of 57 000 tonnes of CO2 a year. Green recovery: driving the electric vehicle industry and creation of almost 600 jobs during the implementation phase. The European Investment Bank (EIB) and […]

Europe & UK

Sweden: European backing for Northvolt’s battery gigafactory

July 29, 2020 Anand Gupta

EIB supports Northvolt’s gigafactory for lithium-ion battery cells in Skellefteå, Sweden, with backing from the Investment Plan for Europe. EIB financing of $350 million follows the successful financing of Northvolt’s demo line in 2018, which the EIB supported with a €52 million loan. The European Investment Bank (EIB) has signed a $350 million loan agreement to support the […]

Europe & UK

The National Hydrogen Strategy

July 27, 2020 Anand Gupta

Key Summary of the Report In order for the energy transition to be successful, security of supply, affordability and environmental compatibility need to be combined with innovative and smart climate action. This means that the fossil fuels we are currently using need to be replaced by alternative options. This applies in particular to gaseous and […]

Europe & UK

India-EU renew agreement on Science & Technology cooperation

July 27, 2020 Anand Gupta

Co-investment has been stepped up for addressing affordable healthcare, water, energy, food and nutrition New Delhi: India and the European Union have renewed their agreement to expand scientific and technological cooperation aimed at strengthening their collaboration in this area in the next five years. Last week, the two sides agreed to renew the agreement on […]

Europe & UK

Spain considering guaranteeing credit lines to renewables firm Abengoa: source

July 25, 2020 Anand Gupta

MADRID: The Spanish government is considering granting guarantees and credit lines to renewable energy and engineering firm Abengoa (ABG.MC) in a bid to keep the company afloat, a source with knowledge of the negotiations said. Spanish state agency ICO will guarantee up to 70% of the 180 million euros that bank creditors including Bankia (BKIA.MC) […]

Europe & UK

Repsol takes renewables drive beyond Iberia with Chile joint venture

July 24, 2020 Anand Gupta

The tie-up with Grupo Ibereolica Renovables will be Repsol’s first renewable energy project outside Spain and Portugal MADRID: Spain’s Repsol has signed up to create a joint venture with a Spanish renewable energy group to run a portfolio of wind and solar generation sites in Chile, the oil and gas company said in a statement […]

Europe & UK

Spain’s Iberdrola expects 2020 profit growth despite H1 virus impact

July 23, 2020 Anand Gupta

With more than 32GW of renewable capacity installed in markets including Spain, Britain, the United States and Brazil, Iberdrola is seen as a prime beneficiary of drives to decarbonise economies around the world MADRID: Spanish renewable energy giant Iberdrola said on Wednesday it expects profit growth this year and kept its dividend and investment plan […]

Europe & UK

ABB points to improving order situation after quarterly profit beat

July 22, 2020 Anand Gupta

The maker of industrial robots and electric car charging stations expects the fall in orders caused by the pandemic to improve in the third quarter, although it said revenues would take longer to recover ZURICH: Swiss engineering firm ABB said on Wednesday its order situation could improve in the coming months, suggesting there was some […]

Europe & UK

Enel Green Power starts construction of its first renewables + storage project in North America

July 22, 2020 Anand Gupta

Enel Green Power has started construction of the Lily solar + storage project in Texas, its first utility-scale solar + storage project in North America The Lily solar + storage project comprises a 146 MWac photovoltaic (PV) facility paired with a 50 MWac battery and is expected to be operational by summer 2021 In addition, […]