Europe/Middle East/Africa

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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Masdar Boosts Small-Scale Projects In Remote Pacific Islands With $50Mn Fund

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

Abu Dhabi’s state-owned renewable energy company Masdar has announced the inauguration of a series of renewable energy projects in the Pacific Island countries and territories, made possible by the $50 million UAE-Pacific Partnership Fund (UAE-PPF). The projects are designed to drive economic growth and sustainable development across the islands, in addition to job creation and capacity-building efforts. Highlights included cyclone-proof wind turbines, space-optimising solar solutions, and plants providing 50 percent of local energy requirements.

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Saudi Arabia, Vision 2030 – Setting a Target Of 9.5GW Of Wind And Solar Energy

Deals & Finance, Energy, Europe/Middle East/Africa, Policy, Region

The launch of the King Salman Renewable Energy Initiative and “initial” renewable energy target of 9.5GW, announced in the “Saudi Arabia Vision 2030” paper recently, is the highest level of commitment to renewable energy, ever made by the Kingdom. The main target is to “create a more diverse and sustainable economy”, co-financed by the country’s $2 trillion Sovereign Fund.

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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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Saudi Arabia’s ACWA Plans To Invest $12bn In Egypt For Solar And Wind Projects

Deals & Finance, Europe/Middle East/Africa, Region, Solar, Wind

Saudi Arabia’s ACWA Power intends to invest $12 billion in the Egyptian market over the course of the next five years. It plans to establish solar and wind power plants with a capacity of 4.2GW from $7.5 billion in investments. The plans include the implementation of a series of projects, including the 2.25GW capacity Dayrout power plant and three 150MW-capacity solar and wind plants. Organisations financing the projects include the Chinese Silk Road Fund, the Saudi Investment Fund and the International Finance Corporation (IFC).

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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.

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

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.

Overcoming Challenges, Solar Market Growth Is Becoming Irresistible Read More »

Amid The Rise In Demand For Wind Turbines, Gamesa Gains Strength In India

Asia Pacific, Deals & Finance, Europe/Middle East/Africa, Wind

Gamesa has consolidated its position as the leading OEM in India for the third year running recently. Consolidating its position, it has secured a contract for the supply of 198MW of the G114-2.0MW turbines. The Indian pipeline for this product has now been increased by 124MW and the order intake for it has reached nearly 2GW in 2015, globally.

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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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Scotland Striding Towards A 100% Renewable Electricity Generation System By 2030

Carbon, Europe/Middle East/Africa, Head Lines, Policy

WWF Scotland has published findings, which found that the supply of Scottish wind turbines was enough, on average, to meet the electrical needs of 70 percent of Scottish households. Besides wind power, there was also good news for solar power. According to WWF Scotland Director, Lang Banks; “homes fitted with solar panels were able to obtain 70 percent or more of their electricity or hot water needs from the sun.” He stated that the “Scottish Government must bring forward an energy strategy that ensures Scotland is the first EU nation to have a completely renewable electricity generation system by 2030”.

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