renewableenergy
Green groups have welcomed European Commission guidelines underlining the need for thorough environmental impact assessments before governments designate areas for the accelerated deployment of wind turbines, solar arrays and other clean energy infrastructure, amid a drive to reduce dependence on fossil fuel imports from Russia. The RePowerEU plan hastily drafted amid the energy crisis following Russia’s invasion of Ukraine in 2022 promised an easing of planning permitting, long identified by the wind power industry as a major bottleneck. But environmental groups were alarmed by the prospect o...
Euronews (English)
Italian energy giant Eni is considering giving investors a chance to invest in separate stakes in its fossil fuel projects, in a move that is known as a satellite strategy. The projects are likely to be some of the company's very lucrative developments based in the Ivory Coast and Indonesia. This will allow investors who may not be particularly interested in renewable energy projects to make sure their money is funding only the fossil fuel projects they support. Similarly, it will also allow investors who prioritise green projects to ensure that their money is not being used to support fossil ...
Euronews (English)
Portugal generated an ‘historic’ 95 per cent of its electricity from renewables in April, according to the network operator REN. Renewable energy generation averaged just below that for the first four months of the year, covering 91 per cent of the nation’s power needs. It’s one national good news story within a great continental shift: fossil fuels provided less than a quarter of the EU’s energy for the first time ever last month. Ember, the clean think tank behind that assessment, also found that more than 30 per cent of the world’s electricity is now generated using renewables. “Solar in pa...
Euronews (English)
Fossil fuels provided less than a quarter of the EU’s energy for the first time in April. The good news comes from energy think tank Ember which found that the proportion of electricity generated by fossil fuels in the bloc fell to a record low of 23 per cent last month - a sharp drop of 22 per cent compared to April 2023 despite an increase in demand. It also surpasses the previous record low of 27 per cent from May 2023. Wind and solar growth as well as the recovery of hydropower drove the fall in fossil fuel generation and increased the share of renewables in the electricity mix to a record...
Euronews (English)
Shares in German reinsurance giant Munich Re rose on Wednesday after the company announced its first-quarter (Q1) 2024 results, clocking in a net profit of €2.14 billion, which was almost a 70% jump from the €1.2 billion seen in Q1 2023. This was mainly due to major-loss expenditure being less than anticipated, as well as a robust operational performance across the board - and investments yielding high returns. Insurance revenue from insurance contracts also increased to €15.1 billion in Q1 2024 from €14.2 billion in the first quarter of 2023. This was mainly due to the reinsurance sector seei...
Euronews (English)
More than 30 per cent of the world’s energy is now generated using renewables and the European Union is well ahead of this global average, a new report has found. Energy think tank Ember found that major growth in wind and solar helped push global electricity production past this milestone in 2023. The report covers 80 countries which represent 92 per cent of the world’s energy demand and historic data from 215 other countries. Its authors say that this rapid growth has brought the world to a crucial turning point where fossil fuel generation starts to decline. Clean power sources have already...
Euronews (English)
Battery costs have dropped by more than 90 per cent in the last 15 years, a new report from the International Energy Agency (IEA) reveals. It’s one of the fastest declines ever seen among clean energy technologies, and provides hope that batteries can carry the world to its renewable energy goals. While we still tend to think of lithium-ion batteries as a component of consumer electronics like phones and laptops, the tech is playing an increasingly huge part in the energy sector - which now accounts for over 90 per cent of overall battery demand. In 2023 alone, battery deployment in the power ...
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President Joe Biden marked Earth Day by announcing $7 billion (€6.6 billion) in federal grants for residential solar projects serving 900,000-plus households in low- and middle-income communities. He also criticised Republicans who want to gut his policies to address climate change. Seeking re-election in November, Biden said, "Despite the overwhelming devastation in red and blue states, there are still those who deny the climate is in crisis." He took specific aim at supporters of former President Donald Trump's "Make America Great Again" movement. "My MAGA Republican friends don't seem to th...
Euronews (English)
Leaders of 23 EU member states and the European Commission have signed a Solar Charter pledging to step up financing opportunities, skills capacity and to address unfair competition in the bloc during an Energy Council. Austria, Belgium, Bulgaria, Croatia, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and the Netherlands signed the European Solar Charter in Brussels on Monday (April 15) in Brussels in an attempt to accelerate deployment of solar energy in the EU, with a view to r...
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BP has recently received interest for a multi-billion pound takeover from the Abu Dhabi National Oil Company (Adnoc). However, talks were stalled at the initial stage, due to Adnoc having concerns about how BP would fit within its overall strategy. The complicated political and legal aspect of the deal was also a concern, due to Adnoc being the UAE’s state oil company and BP having significant economic importance to the UK. The two companies have long been associates in the Middle East and have even launched a major Egyptian gas field joint venture back in February. Before the current Israel-H...
Euronews (English)
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