renewables investment

If Australia does not want to lose its international competitiveness as a renewables producer, the government will have to invest AU$100 billion (US$64 billion) in the next ten years, according to the sector's trade body the Clean Energy Council.

The Asia Pacific (APAC) region is expected to invest US$3.3 trillion in power generation over the next decade, of which a quarter for solar alone, according to energy research company Wood Mackenzie.

At least US$2.7 trillion must be invested in renewables annually to achieve global net-zero emissions by 2050.

The US Department of Energy has started receiving application for a US$10 million funding and technical assistance programme.

US renewable energy company Enfinity Global has signed a €400 million (US$428.34) agreement with asset manager ICG to spur near-term growth.

Clean energy investment across Africa has to double the current US$90 billion target by 2030 and reach nearly US$25 billion per year, according to a report by the International Energy Agency (IEA) and the African Development Bank Group (AfDB).

Renewables developer European Energy is to build a 65MW solar PV farm in the municipality of Anyksciai, Lithuania.

The Australian government’s green bank Clean Energy Finance Corporation (CEFC) has increased its renewable energy investment to a record of AU$1.2 billion (US$770 million) in the 2022-23 year.

The US solar industry added 2.7GW of capacity during the second quarter of the year, more than half of all clean power installations, according to American Clean Power Association (ACP).

With 860MW of large-scale solar added in 2022, Australia added nearly half of the capacity it did the year before when it installed 1,683MW in 2021.