The European Bank for Reconstruction and Development (EBRD) will no longer finance thermal coal mining or coal-fired electricity generation and will focus instead on renewable energy as part of its new five-year decarbonisation energy strategy.
ENGIE has signed an agreement with Gabonese financial institution, Caisse des Dépôts et Consignations (CDC), to deploy eight hybrid solar plants in Gabon, with a combined capacity of 2.2MW.
Solar, storage and wave energy developer Carnegie Clean Energy has secured AU$200,000 of industry-matched funding from National Energy Resources Australia (NERA) to help it add solar power to an offshore gas platform run by Eni Australia in the Southern Bonaparte Basin.
The EBRD has subscribed to €28.3 million in bonds issued by Greece-headquartered oil firm Hellenic Petroleum to help it diversify into renewables, starting with a 190MW pipeline of wind and solar PV.
President-elect Trump has selected several of his cabinet members already, with the common theme being a shared climate scepticism and a kindred affinity for fossil fuels. The energy industry has reacted, with some despairing and others cautiously optimistic.
Saudi Arabia has reiterated its commitment to working towards mitigating the effects of global climate change at the 22nd UN Climate Change Conference in Marrakech.
BCPG, the renewable energy power producer of Thai oil refiner Bangchak Petroleum, could potentially raise up to 5.9 billion baht (US$170 million) from an initial public offering (IPO) this month, according to the company.
Indian Oil Corporation and Oil India are planning to set up a 1GW solar energy plant in the state of Madhya Pradesh in order to power their oil refineries, according to a senior figure of the state’s renewable energy agency.
Italian oil and gas giant ENI plans to develop 420MW of renewable energy projects, predominantly solar PV, close to its existing industrial plants across Italy, Egypt and Pakistan.
Global investment in solar energy in 2015 reached a record US$161.5 billion off the back of 57GW of PV installations, according to the latest data from Bloomberg New Energy Finance (BNEF).
India as a nation is set to contribute more than any other country to the rise in global energy demand over the next 25 years to meet rising incomes and population, however, its energy demand per capita will still be 40% lower than the global average, according to a report from the International Energy Agency (IEA).
