Europe & UK

Europe & UK

EU to boost green hydrogen use for decarbonisation, focus on energy efficiency

July 8, 2020 Anand Gupta

European industry and refineries already use around 8 million tonnes of hydrogen each year, but most of this is “grey” hydrogen, a version made from natural gas in a process that produces planet-warming emissions BRUSSELS: The European Commission on Wednesday unveiled a strategy to scale up renewable hydrogen projects across polluting sectors from chemicals to […]

Europe & UK

NEW REPORT REVEALS ECONOMIC PATH TO A RAPID COAL PHASE-OUT IN EUROPE

July 7, 2020 Anand Gupta

“Investing in the Recovery and Transition of Europe’s Coal Regions” report from BloombergNEF and Bloomberg Philanthropies shows potential for Bulgaria, Czechia, Poland and Romania to move off coal power, grow economies, and play a leading role in Europe’s green recovery BRUSSELS AND NEW YORK : Today, Bloomberg Philanthropies and BloombergNEF (BNEF) released “Investing in the Recovery […]

Europe & UK

Germany’s Coal Power Could Shut Down a Decade Early

July 6, 2020 Anand Gupta

For a country that prides itself on its clean, green image, Germany’s power sector is remarkably dirty Read More…

Europe & UK

German parliament passes coal exit bill

July 4, 2020 Anand Gupta

BERLIN: Germany’s Bundestag, the lower house of parliament, on Friday passed a bill on the country’s exit from coal as a power source to meet climate targets. The bill involves over 50 billion euros ($56 billion) for mining and power plant operators, affected regions and employees to cushion the impact of the transformation from coal […]

Europe & UK

Polish government and industry agree to jointly develop Baltic wind power

July 2, 2020 Anand Gupta

Poland, which generates almost 80 per cent of its electricity from coal, is under European Union pressure to reduce carbon emissions and the government hopes the planned Baltic wind farms, followed by a nuclear power station, will help WARSAW: Poland’s government signed on Wednesday a letter of intent with lobby groups and industry to collaborate […]

Europe & UK

Renewable energy’s share of German power mix at 55.8% in H1

July 2, 2020 Anand Gupta

FRANKFURT: Renewable energy’s share of Germany’s overall power supply mix rose by 8.8 percentage points in the January to June period to 55.8%, data from Europe’s biggest state-funded research and development service showed on Wednesday. Out of total power production of 243.8 terawatt hours (TWh), solar, wind, biomass and hydroelectric generation together produced 136.1 […]

Europe & UK

ABB to buy back up to 10 per cent of shares after Power Grids sale

July 2, 2020 Anand Gupta

ABB received an estimated $7.6-$7.8 billion from the sale of an 80.1 per cent stake in Power Grids, which it completed as planned by the end of June ZURICH: ABB plans to buy back up to 10 per cent of its stock, currently worth more than $4 billion, after completing the sale of its Power […]

Europe & UK

E.ON, Thyssenkrupp launch hydrogen venture for power market

July 1, 2020 Anand Gupta

The utility and a plant building arm of the conglomerate have formed a venture that will use a virtual power plant (VPP) to pool some 600 megawatts (MW) of power from electrolysis units in Germany and Britain, they said FRANKFURT: Germany’s E.ON and Thyssenkrupp will make hydrogen available to the wholesale power market by pooling […]

Europe & UK

Austria: Investment Plan for Europe – EIB finances wind farms of Windkraft Simonsfeld

June 27, 2020 Anand Gupta

EU climate bank advances €63 million Bulk of financing backed by Juncker Plan guarantee Erste Bank financing new windparks with an amount of €22 million The European Investment Bank (EIB) is providing €63 million of finance for the construction and operation of two new wind farms in Austria (Prinzendorf III and Powi V) of Windkraft Simonsfeld with […]

Europe & UK

Spain: Green recovery – EIB finances the largest solar project in Andalusia

June 27, 2020 Anand Gupta

The Cabrera Solar Project will provide clean energy for 145 000 people CO2 emissions will be reduced by more than 300 kt CO2-equivalent per year The project is supported by the Investment Plan for Europe The European Investment Bank (EIB) is investing €43.5 million to finance the largest solar project in Andalusia and one of the most […]