Global oil markets are firming up rapidly and it looks as if the gloomy forecasts of a high price scenario for next year may come true. Both Goldman Sachs and Citibank have predicted that crude oil will touch 100 dollars per barrel by the end of 2024. The hardening trend has arisen after Saudi Arabia […]
Over 50MW of tidal stream projects win contracts – EQ
Seven projects secure contracts in the Contracts for Difference Allocation Round 5 Seven tidal stream projects have secured contracts in the UK government’s latest renewables auction. Over 50MW of tidal stream capacity has been contracted, building on the 40MW secured in the previous round. The Marine Energy Council (MEC) said this was made possible by […]
Philippines’ latest auction awards over 3.4 GW of renewables – EQ Mag
The Philippines Department of Energy (DOE) has awarded about 3.44 GW of solar photovoltaic (PV) and onshore wind projects in the country’s second green energy auction round (GEA-2), significantly less than the initially offered capacity. The government’s Green Power Auction Bid Evaluation and Award Committee (GEA-BEAC) announced the successful bidders earlier this month. A total […]
Focus on ensuring stable power grid, renewables, not on green hydrogen: GTRI – EQ Mag
New Delhi : India should focus on ensuring a stable power transmission system and increasing renewables in the energy mix rather than on capital-intensive green hydrogen, think tank GTRI said in its report on Monday. Global Trade Research Initiative (GTRI) said that global private investments in green hydrogen are low, with rich countries providing substantial […]
G7 members should not compete against each other on renewables: European Commission President – EQ Mag
HIROSHIMA, Japan : The Group of Seven (G7) rich nations should work together to access technology and secure sources of critical minerals for a green transition, creating additional manufacturing capacity rather than competition, a top European diplomat said on Friday. The G7 is accelerating its push towards greener technologies after Russia’s invasion of Ukraine disrupted […]
NSW to open next renewables, storage tender – EQ Mag
New South Wales will launch its second gigawatt-scale tender for renewable energy generation and long-duration storage capacity in the coming week, electricity and gas systems manager AEMO Services announced in line with the Aussie state’s wider energy transition plan. Monday, May 22, has been set as the opening date for the tender, the unit of […]
Renewables, hydro cross 40 per cent of India’s installed power generation capacity in FY23: Report – EQ Mag
As of now, the total RE capacity stands at 125 GW, with another 83 GW under implementation According to research by the Council on Energy, Environment and Water’s Centre for Energy Finance (CEEW-CEF), India’s total installed power generation capacity reached 416 GW in FY23, of which 125 GW (30%) came from renewable energy (RE) and […]
BP ventures back into oil frontiers to boost output – EQ Mag
LONDON : BP (BP.L) is ramping up oil exploration and drilling activity in frontier prospects as the energy giant tries to stem a decline in its oil and gas output after years of focusing on a shift to renewables to cut carbon emissions. The move comes as companies try to balance pressure to slash climate-warming […]
Guterres calls for accelerated climate action through global cooperation – EQ Mag
United Nations : UN Secretary-General Antonio Guterres has called for accelerated climate action through global cooperation. “We need global acceleration through cooperation. And that means rising above disagreements, differences and tensions. Geopolitical divisions must not torpedo the world’s climate fight for 1.5 degrees,” he told the Major Economies Forum on Energy and Climate in a […]
Denmark’s energy consumption down in 2022 as renewables gain ground – EQ Mag
In contrast, consumption of oil products increased by 5.3%, “primarily as a result of increased sales of fuel for domestic and international aviation from Danish airports” Energy consumption in Denmark fell by 1.5 per cent year-on-year in 2022, according to preliminary figures published by the Danish Energy Agency (DEA). The main factors behind the drop […]