At least 13.7GW of planned coal-fired power plants have been cancelled in India this month, while solar prices have tumbled to new lows, showing that India’s energy transformation is in full swing, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
The route to decarbonisation in the energy sector will create benefits of US$10 trillion every year by 2050, while requiring only US$1.8 trillion to implement, according to a new joint report from the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA).
Major power firm EnergyAustralia has confirmed it will soon sign power purchase agreements (PPAs) for 500MW of wind and solar projects across eastern Australia, in contracts worth AU$1.5 billion (US$1.12 billion).
French oil major Total’s €950 million acquisition of battery manufacturer Saft puts the company at the front of the pack of fossil fuel firms looking to diversify, according to SolarPower Europe CEO James Watson.
Industry-watchers, environmental groups and think tanks have commented on news this morning that the biggest coal mining company in the US, Peabody Energy, has filed for Chapter 11 bankruptcy protection, citing downturn in the coal industry as a major factor.