June 2016

Santiago Pioneers Public Transport First; Solar Powered Metro Serving 2.2M Daily

Americas, Policy

Total and SunPower have announced that SunPower has signed a power purchase agreement for the supply of 300-gigawatt hours per year of clean solar energy to Metro of Santiago. With this agreement, the Metro of Santiago will become the first public transport system in the world to run mostly on solar energy. It currently serves 2.2 million passengers per day. “This project supports our ambition to become the responsible energy major,” says Bernard Clément, senior vice president of Business & Operations, of the New Energies division of Total.

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A World After Oil: Saudi Arabia Plans $2 Trillion Fund Transforming Its Economy

Americas, Asia Pacific, Biomass, Carbon, Europe/Middle East/Africa

Saudi Arabia is planning to create a $2 trillion sovereign wealth fund to reduce the country’s reliance on oil and fundamentally change its economy. The fund will then be in a position to buy the four largest publicly traded companies in the world; among them Apple Inc., Alphabet Inc. (Google parent company), Microsoft Corp. and Berkshire Hathaway Inc. and still be left with over a billion remaining. It’s a vision driven by the Deputy Crown Prince Mohammed bin Salman of Saudi Arabia who stated “undoubtedly, it will be the largest fund on Earth.

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