French energy giant TotalEnergies has won new contracts in Libya that include the development of a 500MW solar PV project, although it will also see the company pour US$2 billion into crude oil production and invest in gas extraction
Spanish oil and gas major Repsol has increased its 2030 renewables target to 20GW, the bulk of which is expected to be solar PV, as part of efforts to reach net zero emissions by 2050.
Australian companies plan to spend AUS$5.1 billion (US$3.7 billion) on offshore gas exploration over the next six years, which is enough to develop 2.5GW of renewables capacity and generate close to 5,000 jobs
Record-breaking power prices across Europe have turned the spotlight on the role fossil fuel plants play in generating electricity and how the transition to renewables-plus-storage could lower consumer bills.
Supply disruptions in the coal and gas sectors have contributed to record electricity costs across Europe, leading to calls for more support for renewables generation to mitigate future price rises.
Investors are turning away from fossil fuels and shifting into renewables because of falling costs and climate targets, with US banks lagging behind their European and Asian counterparts
Oil and gas company Lukoil has commissioned a 20MW PV plant that features heterojunction (HJT) modules from Hevel and has been constructed at a refinery in Russia’s southern Volgograd region.
Abu Dhabi National Energy Company (TAQA) has announced plans to ramp up its solar PV portfolio through a new strategic plan that will see the power producer aim to reduce its exposure to oil and gas.
Oil and gas major Shell has said it will spend between US$2 billion and US$3 billion on renewables and energy solutions annually to help it attain net zero status by 2050.
Corporations bought 18% more clean energy last year compared with 2019, according to new research, with tech giant Amazon and oil and gas group Total leading the global energy transition.
