IEA: 'Age electricity' will follow the looming peak of fossil fuels
International Energy Agency (IEA) said that the world is at the cusp of a new era of electricity, with the demand for fossil fuels set to peak before the end of this decade. This could lead to an increase in investment in green energy due the surplus of oil and gas, it added. It also highlighted a high degree of uncertainty…
Iberdrola, a Spanish company, doubles its British investment plan from $11 billion to $21 billion
Iberdrola, the largest Spanish power company, has increased its investment plan in its British subsidiary Scottish Power from 24 billion pounds ($31.37billion) to 2024-2028. This was announced ahead of an international investment summit held in London. The investment comes at a time when Britain's Labour government is trying…
Iberdrola, a Spanish company, invests $15.7 billion into Scottish Power's division
Iberdrola - Spain's largest energy company - will invest up 12 billion pounds ($15.7billion) in Scottish Power, its British division, over the next four year, doubling their commitment to the UK in advance of a global summit on investment in London. The investment comes at a time when Britain's Labour government is trying…
Grid operators claim that Britain will have enough energy this winter to meet the needs of its citizens
The UK's electricity and Gas Grid Operators expect enough supplies this winter with more power imported and domestic production available than last season and high gas storage in Europe, said they on Tuesday. National Gas and Britain's National Energy System Operator, (NESO), publish annual reports on the supply and demand for the upcoming winter to assist businesses and governments in preparing.
Meet ZEUS, a Proposed Zero-emission Power Station
Aker Solutions, PETRONAS Carigali Sdn. Bhd., MISC Bhd and Clean Energy System Inc, signed a Memorandum of Understanding (MOU), effectively commencing the Zero Emission Power Station (ZEUS) pilot project, an energy solution that uses oxyfuel combustion with immediate CO2 capture and storage.The ZEUS technology employs advanced…
Mexico's new president appoints an energy expert to lead Pemex
On Monday, Mexico's new president nominated Victor Rodriguez as the next executive director of the heavily indebted oil company Pemex. This was one of the last nominations to the politically and financially volatile energy sector. At a press event, Rodriguez stated that working with the Finance Ministry would be crucial in stabilizing his company…
CorPower Ocean Debuts "Commercial Scale" Wave Energy
CorPower Ocean unveiled the CorPower C4, its first commercial scale Wave Energy Converter (WEC) and CorPack clusters, which the company contends will provide the building blocks for utility scale wave farms.Ultimately, the new CorPower C4 device will form part of a four-system wave array, off the coast of Aguçadoura, Portugal…
Hydrogen at Risk of Being Missed Opportunity, According to DNV Report
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV.In Hydrogen Forecast to 2050, DNV predicts the amount of hydrogen in the energy mix will be only 0.5% in 2030 and 5% in 2050.
TES Wilhelmshaven Import Terminal Deemed a 'Priority Project'
Tree Energy Solutions’ (TES) import terminal has been included in the list of priority projects supported by the German Government’s LNG Acceleration law. The law was passed by parliament on May 19th, 2022 and was approved by the Federal Council on May 20th, 2022. The aim of this law is to accelerate the implementation…
Sustainable Marine Preps to Feed Tidal Energy into Nova Scotia Grid
Sustainable Marine is poised to push the button and feed zero emission electricity generated from the tidal flows in the Bay of Fundy into the Nova Scotia grid, an achievement that follows several months of intense activity in the Bay of Fundy by Sustainable Marine’s Canadian, British and German team, supported by an international…
Wave Energy Developer Plots Strong Growth Plan in '22, IPO in '23
South Korean wave energy developer INGINE revealed ambitious growth plans for 2022,its10th anniversary.Today the company is approaching a landmark fifth year of wave energy operation in North East Asia, via the Jeju Bukchon Wave Power Plant built in 2015. Additional international projects will see expansion across four…
Ship Emissions: MIT Takes the Lead Toward Net Zero
The MIT Energy Initiative (MITEI) launched a new research consortium—the Future Energy Systems Center—to address the climate crisis and the role energy systems can play in solving it. Randall Field, Executive Director, discusses current research and the challenges ahead for the maritime sector.The reputation of the Massachusetts…
Tech File: SHI Develops onboard Carbon Capture System
SHI reports that it has successfully developed an 'Onboard Carbon Capture' system which can be applicable to LNG fueled vessels with PANASIA, an eco-friendly and energy system expert, and received Approval in Principle from KR, Korean classification society, for the first time in Korea.This approved green technology separates and collects carbon dioxide among exhaust gas of LNG…
IEA: World Must Triple Renewable Energy Spending by 2030 to Curb Climate Change
Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday."The world is not investing enough to meet its future energy needs ... transition‐related spending is gradually picking up…
Who Will Pay for the Energy Transition?
The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide.New investments could support millions of new jobs in construction and manufacturing, but policymakers are struggling to…
UK Gov't Advised to Harness Pandemic to Speed Zero-carbon Aims
From creating jobs in home insulation to hiking dirty fuel taxes and expanding electric-vehicle charging, Britain's government should harness the COVID-19 pandemic to accelerate cuts in planet-heating emissions, an advisory panel said on Thursday.With public support for low-carbon shifts growing and the state spending billions to boost its flagging economy…
Amprion Sets Out North Sea Offshore Wind Grid Vision
German power grid company Amprion on Wednesday unveiled long-term plans for joint European offshore wind links in the North Sea and announced a trebling of spending in the next 10 years.Amprion, with 11,000 kilometers of high voltage transmission lines in western Germany, is the second biggest of four regulated operators of grids criss-crossing the country and offshore…
Taiwan Gets 1st Carbon Neutral LNG Shipment
Taiwan accepted its first carbon neutral shipment of liquefied natural gas (LNG). State-owned CPC Corporation, a natural gas, and gasoline company in Taiwan announced receipt of LNG cargo from Shell.Nature-based carbon credits have been used to compensate the full carbon dioxide (CO2) emissions generated – from exploring for and producing the natural gas…
ABB Bags DolWin5 Gig
Swiss-Swedish multinational corporation ABB has won EUR10.6 million order for digital products and services to support the DolWin5 (Epsilon) offshore grid connection project in Germany.According to a press note from the technology company, ABB will provide a system for IT infrastructure, OT1 security, plant-wide condition monitoring…
Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell, LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon…
