renewables investment

Declan Flanagan, former CEO of Orsted Onshore, has launched a renewables investment platform with an initial capital of US$100 million.

Spanish utility giant Iberdrola has committed to invest between €2-3 billion (US$1.99-2.99 billion) in renewables in Australia.

Global investment in renewable energy reached a record half-year figure of US$226 billion in H1 2022, driven by soaring demand for clean energy technologies amid the ongoing energy and climate crisis, according to a BloombergNEF (BNEF) report.

Solar and wind trade bodies have united to organise the Africa Renewables Investment Summit to drive renewable energy financing in the continent.

Solar PV has made nearly half of all new investments in renewable power in 2021, according to the International Energy Agency (IEA).

German utility giant RWE has issued a green bond with a volume of €2 billion (US$2.1 billion), the proceeds of which will be used to pursue development of solar and wind projects.

Independent power producer (IPP) Fu-Gen has secured €320 million (US$342 million) in financing for renewables, battery storage and green hydrogen projects across Europe.

Global solar installations are expected to increase five-fold, making up nearly half of all power generation by 2050 as renewables become the “new baseload”.

Spanish utility Iberdrola reported a €12 billion (US$13.6 billion) operating profit in 2021, which was 20% higher than 2020, and met its gross profit forecast for 2022 one year early, as its installed 3.5GW of renewables in 2021.

Spanish utility Iberdrola has expanded its investment in renewables and smart grid projects to €7.03 billion (US$8.15 billion) but its net profit suffered, falling 10.2% to €2.4 billion (US$2.78 billion), according to its recent financial results for 2021 release today.