global energy transition

Nine Chinese companies have committed to a collective US$13.76 billion of investment in the Philippines’ renewable energy sector, set to develop solar, wind and energy storage assets.

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.

The latest Renewable Energy Country Attractiveness Index (RECAI 60) shows that energy transition and renewables deployment continue to be of paramount concern to global governments in the face of market volatility and an emphasis on decentralised grids.

The US and United Arab Emirates (UAE) have signed a significant new clean energy framework in Abu Dhabi, the White House has announced.

The world’s total solar capacity will reach 2,044GW by 2031, with China continuing to lead the way in deployment, making up nearly half (47%) of the world's 1,190GW net solar capacity additions through to 2031, according to research firm Fitch Solutions.

Developers will need to install the equivalent of "the world’s largest solar park roughly every day" by 2030 to support global net-zero emissions targets, according to a new report.

The world’s solar power generation capacity will have to reach 14.4TW in the next 30 years to ensure that the global temperature does not rise above 1.5 degrees celsius this century.

The world will need to build five to six times as much solar and wind power per year as in 2019 if a carbon-zero economy is to be reached by the middle of the century, a study has said.

The International Energy Agency has heralded the beginnings of a global shift to low carbon energy sources, but reiterated earlier calls for bolder action in the pending COP21 climate talks in Paris.