oil

Solar Cells_171

French Giant Total To Install PV Solar Panels In 5,000 Service Stations Globally

Total is launching a program to equip 5,000 of its service stations worldwide with solar panels within five years, including 800 in France. The total solar capacity to be installed is about 200 MW, equivalent to the amount of electricity used to power a city of 200,000 people. The project represents an investment of around $300 million and is projected to cut the company’s carbon emissions by 100,000 tonnes annually and reduce energy costs by $40m each year. It’s a high-profile move in what it sees as a growth sector, highlighting a greater industry focus on renewables.

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Energy_Carbon and Climate

Energy Generation: IEA Finds Notable Growth In Renewables, Decline in Coal, Oil

The International Energy Agency (IEA) shared that energy generation from renewable energy sources grew by 16% across the 34 nations of the Organization for Economic Cooperation and Development (OECD) in 2015. A 1% decrease in combustible fuels was also noticed; such as coal, gas, and oil, as well as combustible renewables and waste energy sources.

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Saudi Arabia_Solar

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

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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