Iberdrola has hit the accelerator on its renewables investments in H1 in spite of the pandemic, as the multinational utility looks to move forward with a project pipeline that now exceeds 58GW.
Production of green hydrogen using renewable power for electrolysis could be cost competitive with incumbent methods by 2030, analysis by research firm IHS Markit has concluded.
Investment in new solar capacity fell in the first half of 2020 by 12% year-on-year to US$54.7 billion as the COVID-19 pandemic hit both project financing and scheduled auctions.
Arizona utility Tucson Electric Power (TEP) has set out plans to provide 70% of its power from solar and wind by 2035, backed up with investment in new energy storage capacity.
Renewables, energy storage and grid assets are all being considered as top investor bags institutional backing for FEIP fund from the EIB and other investors.
Enel has announced a multi-billion-euro upgrade to its renewables investment programme as the utility plans to derive 60% of its power generation from renewables by 2022.
A US judge has approved fines and ordered BP to pay compensation for a long list of charges relating to the Deepwater Horizon oil spill of six years ago, amounting to US$18 billion.
