Americas

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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Unprecedented Unity As Record Numbers Of Nations Sign Climate Change Agreement

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

To enter legal force, the Paris Agreement needs a minimum endorsement from 55 countries, representing no less than 55% of greenhouse gas emissions. The World Resources Institute states that with more than 171 countries signing, these represent a total of 93% of global emissions. Among the most welcome surprises were the world’s biggest greenhouse gas emitters; China, India, Brazil and the US, who all signed the treaty. The volume of first-day-signatures broke the record held by any international treaty to date.

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Intersolar North America – A Key Station For The Solar Express

Americas, Policy, Solar

Intersolar North America is the most attended and first major solar industry event of the year. It brings together thousands of solar professionals, industry leaders, press and key influencers to recharge and accelerate business goals through the end of the year and beyond. It unites people and companies from around the world with the aim of increasing the share of solar power in the global energy supply.

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“The Whole Energy Sector Is Moving From Black To Green” – Dong Energy IPO

Americas, Deals & Finance, Europe/Middle East/Africa

With a potential valuation as high as $13billion, Danish wind developer DONG Energy is set to be the biggest company to raise money on European exchanges this year and the biggest ever at the Copenhagen Stock Exchange. Since its formation with a merger of the Danish state oil and gas company and five regional utilities 10 years ago, it has gone through a massive transformation to become the world’s largest offshore wind farm developer. At least 15 percent of the shares will be sold in the IPO and the Danish government, will keep 50.1 percent.

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Invenergy And Empire State Agree On 600MW, $1.2Bn Of Wind Projects In New York

Americas, Deals & Finance, Head Lines, Wind

HVDC transmission developer Empire State Connector Corp. (ESC) has announced that the Company has a Memorandum of Understanding (MOU) with Invenergy, currently developing a portfolio of up to 600 MW of new Upstate New York wind energy generation projects, that the ESC could deliver to downstate electricity customers. The MOU could be a highly significant step in the implementation of the 50% by 2030 Clean Energy Standard under consideration by the New York State Public Service Commission.

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Facebook, Google Lead Initiative To Add 60GW Of Clean Energy To US Grid By 2025

Americas, Biomass, Carbon, Energy

Microsoft, Facebook, and Google/Alphabet, along with power group Invenergy, GM, Honda, and Amazon, are among the 60 companies backing a group which aims to add 60GW of clean energy and renewable power capacity to the US grid by 2025. Four non-governmental organisations have come together to form the Renewable Energy Buyers Alliance (REBA), a new coalition to inspire and empower multinational companies to transform electricity systems with clean and renewable energy.

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Overcoming Challenges, Solar Market Growth Is Becoming Irresistible

Americas, Asia Pacific, Efficiency, Europe/Middle East/Africa, Head Lines

Solar power is becoming increasingly competitive and is leading to reductions in the costs of photovoltaics. Emerging and developing countries are seeing a new focus on wind and solar power, as generating it is often considerably cheaper than buying electricity from the grid, with long-term solutions providing independence from fluctuations in fossil fuel prices. The improved speed of installation also allows for renewable energy systems to be positioned in areas with greatest electricity demand.

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China: JA Solar Commences ‘Intelligent Manufacturing’ At 1.5 GW Capacity Plant

Americas, Asia Pacific, Europe/Middle East/Africa, Technology

JA Solar has announced that it has started mass production of high-performance PV panels at its high-performance manufacturing facility in Xingtai, Hebei province, China. The new facility, located in the Economic Development District of Xingtai city, has an annual capacity of 1.5 GW with fully automated assembly lines using the latest module manufacturing technologies. The fully automated assembly lines for making standard 60- and 72-cell modules significantly increase the productivity of the facility. The annual production per capita is estimated to be 2 MW, the highest among peers in the industry.

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US Surges Beyond 1 Million Solar Installations, With A Community Solar Future

Americas, Carbon, Head Lines, Solar

A million installations are the result of the work of over 200,000 Americans working in the solar industry and on developments, which have secured a cut in cost per watt by two-thirds within the last 20 years. The next target is another million installations by end 2018. This presents an opportunity to expand access to affordable solar energy. According to the National Renewable Energy Laboratory (NREL), solar is on its way to becoming the single largest source of distributed renewable energy in the US, with the potential to power over five million homes.

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US Boosts Solar Power Projects In Africa, Highlighting Huge Potential

Americas, Europe/Middle East/Africa, Policy

A number of African nations are to receive a new loan to enhance solar power projects awarded by the Overseas Private Investment Corporation (OPIC). The loan is one of the latest financial investments by the US in support of Africa-based development initiatives, aimed at supporting regional entrepreneurs and improving power infrastructure. According to Adnan Amin, the director-general of the International Renewable Energy Agency, there is a “huge appetite for investment in renewable energy projects in Africa”, however, African governments still need to ensure reduced risks by implementing regulatory frameworks and incentive schemes.

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