Wednesday, April 14, 2021

Vatican plans additional meeting with Big Oil to discuss climate change

As part of Pope Francis' campaign to counter climate change, the Vatican has extended a second invitation to major oil companies to participate in a discussion about their company's roles in generating and reducing pollution.... An excerpt from World Oil


Joe Biden knows there is no greater challenge facing our country and our world. That’s why he is outlining a bold plan – a Clean Energy Revolution – to address this grave threat and lead the world in addressing the climate emergency. The Biden Plan will:1. Ensure the U.S. achieves a 100% clean energy economy and reaches net-zero emissions no...

Groups: EPA has dragged heels on oil dispersant rules

Environmental groups and women from Alaska and Louisiana say the Environmental Protection Agency has dragged its heels on issuing rules for oil spill dispersants, and they're ready to sue to demand them. The letter is a legally required step before filing suit under the Clean Water Act. This lawsuit would be filed in Washington The EPA's oil spill response guidelines haven't...

Dutch offshore grid connection open for feedback

"TenneT along with the Dutch Ministry of Economic Affairs and Climate Policy (EZK) invited the public to provide comments on the infrastructure for connecting the North of the Wadden Sea Islands offshore wind project to the grid. The deadline for submitting the comments is 18 April. the North of the Wadden Sea Islands zone is part of the government’s Offshore...

Marguerite adds another 50 MW of solar in Spanish acquisition spree

Pan-European equity fund Marguerite announced last week the acquisition of an 80% stake in a 50-MW solar photovoltaic (PV) project in Andalusia from Spain’s OPDEnergy for an undisclosed sum.... An excerpt from Renewables Now

Putin says OPEC+ still committed to crude production agreement

Russian president Vladimir Putin said Saturday that Russia is meeting its obligations under the OPEC/non-OPEC crude production agreement, and participants remain committed to the arrangement, despite ongoing uncertainty over world energy market developments.... An excerpt from S&P Global

21.01.11~20.01.17 Prime Minister commits £3bn UK climate finance to supporting nature

... The Prime Minister Boris Johnson will today announce that the UK will commit at least £3 billion to climate change solutions that protect and restore nature and biodiversity over five years. The funding will be allocated from the UK’s existing commitment of £11.6bn for international climate finance and will deliver transformational change in protecting biodiversity-rich land and ocean, shifting...

UK’s National Grid operator gets ready for 100% renewables by 2025

National Grid, the operator of the UK electricity system and the equivalent to the Australian Energy Market Operator, says it is preparing to change its systems so it can operate the electricity grid with 100 per cent renewable energy by 2025. "Our ambition is that, by 2025, we will have transformed the operation of the electricty system such that we...

£480m joint investment will fund Europe’s largest waste-to-energy plant

Tata Chemicals Europe has announced that it will operate a new energy from waste plant (EFW) at its Lostock manufacturing site in Northwich, Cheshire in a joint venture worth nearly half a billion pounds. It is planned to divert 600,000 tonnes of residual waste from landfill and generate enough renewable electricity to reportedly power around 125,000 homes. This will offset...

Bosnian energy: A balancing act

"As Bosnia looks to phase-out coal and move towards hydropower, environmental groups are concerned by the impact on the delicate Balkan ecosystem. While both the government and the Investment Promotion Agency (FIPA) say boosting hydropower is key to reducing regional dependency on coal and to falling in line with European Union energy policies. about a third of the planned dam...

Spain’S Mapfre Will Stop Insuring New Coal Plants And Mines – 9Th Insurer To Restrict Underwriting

Spain’s Mapfre is to stop insuring new coal plants and mines, becoming the ninth insurer to announce restrictions for its cover to coal. In a statement Mapfre also re-announced that it will end investment in energy companies that derive more than 30% of income from coal. The company also announced plans to be carbon neutral by 2030.... An excerpt from Unfriend...

Namibia moving toward embracing IPPs

The stumbling block, which has been preventing many Independent Power Producers (IPPs) from entering the Namibian electricity market, appears to have been moved after the country’s power utility, NamPower, signed power purchase agreements with 18 IPPs.... An excerpt from Southern Times

Trump’s ‘Budget for a better America’ means worse climate change

"...A Budget for a Better America ...  A 31 percent reduction in spending at the Environmental Protection Agency. Slashing the agency’s budget keeps his promises on the campaign trail to cut back on enforcement actions that hurt the bottom line of the fossil fuel industry. The Department of Energy would see an 11 percent decrease from current funding, to $31.7...

Shareholders Silenced — Banks Evade Responsibility for Climate Impacts

Wells Fargo and Goldman Sachs, two banks with major investment and loan portfolios in fossil fuel projects, filed motions to exclude from their proxies a climate related shareholder resolution. The resolutions ask them to reduce the full carbon footprint of their loan and investment portfolios in alignment with the 2015 Paris Agreement’s goal of maintaining global warming well below...

Nevada Passes Bill to Double Renewable Standard, Aim for Carbon-Free Electricity by 2050

Nevada State lawmakers unanimously approved legislation on April 19 to boost the state’s renewable portfolio standard to 50 percent by 2030, and set a goal for achieving 100 percent of the state’s electricity from carbon-free resources by 2050. The existing target calls for the state to get 25 percent of supplies from renewables by 2025. The bill now moves...

Russia needs EU guarantees on TurkStream project: PM

Russia needs guarantees from the European Commission before choosing Bulgaria as a route for the TurkStream natural gas pipeline project, the country’s prime minister told his Bulgarian counterpart Monday. An excerpt from AA

IEEFA update: South Korea takes further steps away from thermal coal

The South Korean Ministry of Trade, Industry and Energy has tabled a new draft energy master plan that increases the nation’s ambition to move away from coal and towards renewable energy...... An excerpt from IEEFA

New Microgrid Initiative Launches in Puerto Rico Amid Energy Policy Uncertainty

The Environmental Defense Fund plans to help build low-carbon microgrids in Puerto Rico, amid delays on 100% renewable energy legislation, PREPA’s IRP and microgrid interconnection rules. The Environmental Defense Fund today announced a new initiative in Puerto Rico that aims to foster collaboration on low-carbon microgrid projects in rural communities. This month, Puerto Rico’s Senate passed PS 1121, a law that...

China and Russia ink deals to build reactors for Tianwan and Xudabao nuclear plants

Russian state nuclear corporation firm Rosatom will construct four VVER-1200 units for the two Chinese plants. According to a report by the World Nuclear Association, the contract is valued at more than $2.98b (CNY20b).... An excerpt from AsianPower

Poor Russian crude quality leads Belarus to cut oil-product exports

Belarus is limiting oil-product exports as a result of a deterioration in the quality of crude supplied from Russia, state news agency Belta reported Monday. In mid-April, Belarus threatened to suspend Russian crude transit to Europe over ongoing economic disputes. Belarusian officials suggested part of the Druzhba pipeline, which delivers more than 1 million b/d of crude to Europe via...

[Puerto Rico] Barbados completes renewable energy project with UAE funding

Minister of Energy and Water Resources, Wilfred Abrahams called this “a truly extraordinary successful accomplishment” as he delivered remarks on Monday at the inauguration ceremony of the UAE/Barbados Water Authority (BWA) solar photovoltaic (PV) project at Bowmanston pumping station in the eastern parish of St. John. UAE government launched a US $50 million Caribbean Renewable Energy Fund in November 2017... An...

UAE inaugurates three major projects under US$50 million Caribbean Renewable Energy Fund

Three climate-resilient solar power projects in the Bahamas, Barbados, and Saint Vincent and the Grenadines are being inaugurated this week under the US$50 million UAE-Caribbean Renewable Energy Fund (UAE-CREF), the largest renewable energy initiative of its kind in the region. UAE foreign aid for renewable energy projects now totals almost US$1 billion since 2013, supporting more than 40 countries.... An...

TEPCO Becomes First Utility Company in Japan to Express Support for Task Force on Climate-related Financial Disclosures (TCFD) Recommendations]

Tokyo Electric Power Company Holdings, Inc. (TEPCO) has become the first Japanese utility company to express its support for the Task Force on Climate-related Financial Disclosures (TCFD) recommendations as it aims to further improve its contribution to the sustainable growth of society and ability to adapt to social change. ]... An excerpt from TEPCO

Report Finds Global Banks Poured $1.9 Trillion into Fossil Fuel Financing Since the Paris Agreement was Adopted, with Financing on the Rise Each Year

A report released today by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Sierra Club, and Honor the Earth, and endorsed by over 160 organizations around the world, reveals that 33 global banks have provided $1.9 trillion to fossil fuel companies since the adoption of the Paris climate accord at the end of 2015. Banking on Climate...

Editorial: Gas Markets In Turnaround [Ngw Magazine]

Asian spot prices have gone below European hubs this winter: it was mild and China burned more coal and took less US LNG. But at sub $5/mn Btu, neither region can reward US LNG exporters. Oversupply, rather than low demand, is the reason, according to Marex Spectron analysts at a media briefing. ... An excerpt from NGW

The decree of self-consumption compensates surpluses and promotes collective consumption

The Minister council has approved the royal decree which regulates self-consumption electric in Spain, which includes a mechanism to compensate for surplus energy, enables the figure of collective self-consumption, opens the door to take advantage of the energy not consumed by the neighbor and reduces the procedures.... An excerpt from Spain's News

ADB to Invest $50 Million in Avaada Energy Private Limited to Expand Renewable Energy Capacity in India

The Asian Development Bank (ADB) has signed an agreement to invest $50 million in Avaada Energy Private Limited (AEPL) to help the company rapidly scale up photovoltaic solar energy generation capacity in India.... An excerpt from ADB

Independent developer proposes $2.5B underground transmission line, to bring Iowa wind to PJM, MISO

"Direct Connect Development Company (DC DevCo) announced Monday a proposal for a 349-mile, 2.1 GW, high voltage direct current (HVDC) transmission line to run underground from Mason City, Iowa to the Chicagoland area, bringing renewable power from the wind-rich West into wholesale power markets. The SOO Green Renewable Rail (SOO Green) project is expected to cost $2.5 billion and could...

South Korea tests U.S. super light oil amid Iran waiver uncertainty – Reuters

South Korea has begun testing super-light U.S. oil sold by Anadarko Petroleum (APC +0.1%) as a substitute for Iranian crude, as it awaits word from the U.S. government on whether it can keep buying oil from Iran, Reuters reports.... An excerpt from Seeking Alpha

EverSource Capital to invest $1 billion in India’s renewable energy sector

EverSource Capital, a JV of Everstone and Lightsource, is looking to make the investment via its Green Growth Equity Fund NIIF and the UK government have invested £120 million each in EverSource Capital's Green Growth Equity Fund... An excerpt from Livemint