As of today, less than 10% of the necessary solar and wind power needed for a 2050 global net zero scenario exists, whilst global electricity generation will need to more than triple to 80,000TWh, according to the 2022 BloombergNEF (BNEF) New Energy Outlook.
Europe needs to galvanise a competitive PV manufacturing ecosystem in the same vein as the US Inflation Reduction Act (IRA), according to the European Solar Manufacturing Council (ESMC).
IDB Invest and South American financial group Bancolombia will provide developer Solarpack with a COP656 billion (US$133 million) loan to support the development of two solar PV projects in Colombia.
The Asian Infrastructure Investment Bank (AIIB) has joined a partnership agreement with the Egyptian government, expected to mobilise US$10 billion in investments to deploy 10GW of solar and wind by 2028.
The Energy Transition Accelerator Financing Platform (ETAF) has gained three new partners this week at the United Nations COP27 conference in Egypt. The Asian Infrastructure Investment Bank (AIIB), Masdar and Swiss Re all signed partnerships on site in Sharm-El-Sheikh.
Solar Media’s head of Market Research, Finlay Colville, examines the state of European PV manufacturing and discusses whether the continent’s domestic production will ever rise to sufficient levels to support the energy transition
The European Investment Bank (EIB) will support the RePowerEU scheme with €30 billion (US$29.7 billion) in loans and equity financing over the next five years, as it looks to secure Europe’s renewable energy future and reduce its dependence on Russian gas.
Renewables developer ACEN Australia has secured an AU$75 million (US$47.8 million) investment to accelerate the delivery of an 8GW clean energy portfolio in Australia.
