Prices in European electricity markets fell considerably during October due to falling gas prices. In some electricity markets, the monthly average price ended up being even lower than in the same month of the previous year. Italy’s IPEX market registered its lowest daily price since the beginning of August 2021 to date. European electricity markets … Continue reading European electricity market prices fell in October, influenced by gas
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U.S. construction costs drop for solar, rise for wind and natural gas generators
Average U.S. construction costs drop for solar, rise for wind and natural gas generators Data source: U.S. Energy Information Administration, Electric Generator Construction Costs and Annual Electric Generator Inventory Construction costs for solar photovoltaic systems continued to decrease in the United States in 2020; the capacity-weighted average fell 8% compared with 2019, according to the … Continue reading U.S. construction costs drop for solar, rise for wind and natural gas generators
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Equinor acquires leading Danish solar developer BeGreen
Equinor has signed an agreement to buy BeGreen, a leading solar project developer in North-West Europe. The acquisition strengthens Equinor’s capabilities and portfolio within solar PV. “BeGreen represents an important building block to our industrial renewables position in Europe, in line with our ambition to be a leading company in the energy transition. BeGreen has … Continue reading Equinor acquires leading Danish solar developer BeGreen
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Economic report demonstrates how RWE’s Pembroke Net Zero Centre can benefit Wales
At the site of the existing Pembroke Power Station, RWE will deploy new technologies including green hydrogen, carbon capture, large-scale battery storage and floating offshore wind from the Celtic Sea, coming together under a single project ‘Pembroke Net Zero Centre’ (PNZC). A new report commissioned by RWE by Max Munday, Cardiff Business School, demonstrates the … Continue reading Economic report demonstrates how RWE’s Pembroke Net Zero Centre can benefit Wales
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Behaviour of wind energy production compared to the previous week varied from market to market
Solar energy defies autumn and production increases in European markets. In the fourth week of October, solar energy production increased compared to the previous week in all analysed European markets. The largest increase of 21% was registered in the Spanish market, followed by a 19% increase in the Portuguese market. In the French and German … Continue reading Behaviour of wind energy production compared to the previous week varied from market to market
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IRENA Rolls Out Indonesian Energy Transition Roadmap
As climate concerns mount, and the world looks to gather in Egypt at COP27 in early November to deliver a collective response to the crisis, a new report outlines a comprehensive energy roadmap for accelerating renewable energy and energy transition resources in Indonesia. A collaboration between the International Renewable Energy Agency (IRENA) and the Indonesian … Continue reading IRENA Rolls Out Indonesian Energy Transition Roadmap
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Rising Renewable Costs: How Significant?
Renewable energy is experiencing a rare trend. Costs have increased in 2022 for the first time since the 2007-08 commodity price boom, finds Energy Intelligence’s latest report on the cost of electricity generation. Commodity prices have now stabilized but rising interest rates may add another layer of cost increases and further penalize renewables in the … Continue reading Rising Renewable Costs: How Significant?
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World Energy Outlook 2022 shows the global energy crisis can be a historic turning point towards a cleaner and more secure future
The global energy crisis triggered by Russia’s invasion of Ukraine is causing profound and long-lasting changes that have the potential to hasten the transition to a more sustainable and secure energy system, according to the latest edition of the IEA’s World Energy Outlook. Today’s energy crisis is delivering a shock of unprecedented breadth and complexity. … Continue reading World Energy Outlook 2022 shows the global energy crisis can be a historic turning point towards a cleaner and more secure future
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We face an abyss of irreversible climate consequences, says IRENA DG
The International Renewable Energy Agency (IRENA) kicked off its twenty-fourth Council meeting today in Abu Dhabi. The biannual two-day meeting, chaired this year by Uruguay, gathers more than 400 delegates from 108 countries to discuss the world’s energy transition ahead of the annual UN Climate Change Conference (COP27) in Sham el-Sheikh, Egypt. “We are staring … Continue reading We face an abyss of irreversible climate consequences, says IRENA DG
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Iberdrola announces its financial results for Q3 2022
Financial Highlights o Net Profit of €3.1 billion (+29%), driven by strong international performance (mainly in the United States and Brazil) and a 14 % increase in investments to €7.6 billion (€10.5 billion year-on-year).o Ebitda increased by 17% to €9.53 billion.o Operating cash flow reached €8.2 billion, up 28% Business Model Resilience in the current … Continue reading Iberdrola announces its financial results for Q3 2022
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EDP Renewables increases its gross investment in renewable energy to over 4 billion euros
EDP Renewables (Euronext: EDPR), the world’s fourth largest producer of wind and solar energy, has reported its end of third quarter results, carrying on showing solid growth owing to its larger installed capacity, greater strengthening of renewable resources and average sales price recovery. The result of all of this is an EBITDA of 1.482 billion … Continue reading EDP Renewables increases its gross investment in renewable energy to over 4 billion euros
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The European cap of €180/MWh for renewable energy technologies should be included in PPA
The cap of €180/MWh on the income from electricity production with inframarginal technologies established by the European Union will affect the PPA contracts signed by renewable energy plants. Although, in the case of Spain, it is expected that this measure will have little importance as long as the reduction mechanism remains in force. On Thursday, … Continue reading The European cap of €180/MWh for renewable energy technologies should be included in PPA
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Solar power is the fastest way to reduce Europe’s dependency on Russian gas
The expansion of solar power in Europe is growing rapidly due to increased renewable energy ambitions and the need to reduce dependence on Russian gas. Statkraft’s Low Emissions Scenario now shows that Europe will have significantly more solar power by 2030 than expected before the war in Ukraine. For the seventh year in a row, … Continue reading Solar power is the fastest way to reduce Europe’s dependency on Russian gas
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Ukraine lost 90% of wind power and 50% of solar power due to Russian attacks
The Ukrinform agency recalls that since October 10, Russia has carried out massive attacks with kamikaze missiles and drones against the civilian energy infrastructure of Ukraine.The war has left Ukraine without 90% of its wind power capacity and between 45% and 50% of its solar capacity. This was reported this Sunday by the Ukrainian Minister … Continue reading Ukraine lost 90% of wind power and 50% of solar power due to Russian attacks
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Renewable Pathway More Cost Effective than Fossil Fuels in Indonesia
By accelerating renewables, country can meet its energy needs, cut fossil fuel reliance, transition away from coal while developing new industrial opportunities, new IRENA report confirms. Unlocking Indonesia’s untapped renewable energy potential to meet the rising demand is more cost effective than continuing a heavy reliance on domestic and imported fossil fuels, according to a … Continue reading Renewable Pathway More Cost Effective than Fossil Fuels in Indonesia
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CO2 emissions will increase less than 1% this year, according to the IEA
Global emissions of carbon dioxide (CO2) will rise this year less than 1%, far from the strong pull of 2021, due to the economic slowdown, but also largely due to the acceleration in the deployment of renewable energies, which are containing the resource to coal, and electric vehicles. In an analysis published this Wednesday based … Continue reading CO2 emissions will increase less than 1% this year, according to the IEA
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Wind energy production rises in some European markets in the second week of October
In the second week of October, the wind energy production increased compared to the previous week in the French, Italian and Portuguese markets. The largest increase, of 33%, was registered in France. In contrast, the solar energy production decreased in all markets. But, when comparing the solar energy production of the first sixteen days of … Continue reading Wind energy production rises in some European markets in the second week of October
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The Future of Solar Energy: what’s in Store
As the world becomes increasingly aware of the dangers posed by climate change, an increasing number of people are looking for ways to reduce their carbon footprint. One of the most promising and environmentally-friendly sources of energy is solar power. In this article, we will take a look at five impressive projects that have made … Continue reading The Future of Solar Energy: what’s in Store
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EU’s record growth in wind and solar avoids €11bn in gas costs during war
A new study by E3G and Ember finds that wind and solar produced a quarter of EU electricity since the war began, with record growth from last year alone avoiding €11 billion in gas costs. However, the EU still spent an estimated €82 billion on fossil gas during this period to supply 20% of its … Continue reading EU’s record growth in wind and solar avoids €11bn in gas costs during war
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Energy Transition Outlook: Energy crisis reinforcing two speed energy transition in short term
Heightened focus on energy security and rising prices reinforcing decarbonization difference between Europe and the rest of the world Long term trends of the energy transition remain with rapid rise of renewables and growing electrification outweighing short term shocks Growing and greening of electricity production remains the driving force of the transition, with renewables accounting … Continue reading Energy Transition Outlook: Energy crisis reinforcing two speed energy transition in short term
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