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Energy Economy

Google signs PPAs on 400-MW Texas solar project portfolio

Google signs PPAs on 400-MW Texas solar project portfolio

United States
09-08-2022

U.S. Senate Passes Inflation Reduction Act to Energy Industry Applause
The clean energy industry celebrated a moment on August 7, 2022, that would have seemed impossible just a few weeks earlier: The Senate passed a budget measure that includes the largest investments in clean energy and climate change in US history.
Wind Turbine
09-08-2022

Siemens Energy Warns of Deeper Net Loss Over Russia Restructuring
Siemens Energy, which supplies equipment to the power industry, on Monday warned of a deeper than previously expected net loss in 2022, on a charge of around 200 million euros ($204 million) due to the restructuring of its business in Russia.
Carbon Emissions
08-08-2022

U.S. Fuel Retailers Rail Against Green Aviation Fuel Tax Credit
U.S. fuel retailers are fighting the inclusion of a tax credit for sustainable aviation fuel (SAF) in Democrats' $430 billion spending bill, arguing SAF is more carbon intense and less efficient than renewable diesel.
08-08-2022

Adnoc Distribution’s Second-Quarter Net Profit Surges 71% On Strong Revenue
Growth in both fuel volumes and non-fuel business of the company boosted revenue
Energy Transition
08-08-2022

Masdar Signs Agreement With Tanzanian Utility for Renewable Energy Projects
Abu Dhabi's clean energy company setting up joint venture with Tanesco in Tanzania to develop projects with combined capacity of two gigawatts
07-08-2022

Getech Secures Contract for Geoscience Platform
Getech has signed a US$1.1 million multi-year contract with an international energy company for its Globe platform and launched the next generation of this tool that models the Earth’s evolution over the last 400 million years.
Energy Investment
05-08-2022

Biden Administration to Invest Us$26 Million in Renewable Grid Demonstration Projects
US President Joe Biden has launched a US$26 million-funded project that will demonstrate the US electricity grid can reliably run entirely on renewables and energy storage.
Energy Investment
05-08-2022

Investment in Renewables Hits Record $226BN Despite Supply Chain Woes
Global investment in renewable energy rose to $226 billion in the first half of 2022, setting a new record for the first six months of a year.
05-08-2022

Adani Green Energy’s Cash Profit up 48% YoY to $86M in Q1 FY23
Its operational capacity rose 65% YoY to 5,800MW.
United Kingdom
04-08-2022

British Solar Renewables Acquired by ICG Infra
It aims to have more than 1.5GW of renewable energy capacity in operation over the next five years.
Energy Investment
04-08-2022

Octopus Energy, Nest, and GLIL invest in Hornsea One
Octopus Energy Group’s generation business has worked with Nest to take a stake in the Hornsea One Wind Farm.
Japan
04-08-2022

Japan’s JERA Posts JPY11.7B Loss in Q1
This is a JPY75.8b drop from the JPY64b profit last year.
EU
03-08-2022

EU Approves 3-Billion-Euro German Green Heating Scheme
The European Commission said on Tuesday it had approved the German government's 3-billion-euro scheme to support renewable energy and waste heat-based district heating programmes.
Offshore Wind Power
03-08-2022

Vattenfall Prequalifies for the Upcoming French Offshore Wind Energy Tender in the Mediterranean Sea
Vattenfall prequalifies for the upcoming floating French offshore wind tender for two projects off the coast of the Mediterranean Sea.
Energy Investment
03-08-2022

EU Backs Cleantech Innovators With €1.8BN Investment
A total of 17 projects will share the funding to bring ‘breakthrough technologies’ to the market in energy-intensive industries
03-08-2022

Siemens Gamesa Posts €340M Quarterly Loss
Manufacturer reportedly considering cutting 2500 jobs, equivalent to 9% of its workforce.
Electric Car
02-08-2022

Tesla Shareholders to Vote on Yet Another Stock Split
Tesla shareholders are expected to vote on Thursday whether to green-light the company’s latest stock split – the second in two years.
Oil Price
02-08-2022

Saudi Arabia’s Economy Grows 12% In Q2 on High Oil Prices
Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited by Reuters.
Carbon Emissions
02-08-2022

UK Pushes Ahead Public Sector Decarbonisation With £635M
NHS Trusts, schools and local authorities will be able to apply for grants in September
Poland
02-08-2022

Iberdrola Acquires 98MW Renewables Portfolio in Poland
Spanish energy company Iberdrola has agreed to acquire 98MW of wind and solar projects in Poland from Augusta Energy, a joint venture between Greenvolt’s subsidiary V-ridium Power Group and asset manager KGAL.
01-08-2022

JinkoSolar Subsidiary to Issue $1.5B Convertible Bonds
Proceeds will serve as Jiangxi Jinko’s working capital, amongst others.
United Kingdom
01-08-2022

Octopus ‘Asks for £1BN Government Support to Seal Bulb Takeover Deal’
The energy supplier is reportedly keen on paying up to £200 million to take on Bulb’s 1.6 million customers.
01-08-2022

Renewable Power Added in 2021 Saves $55BN From Global Energy Generation Costs in 2022 – IRENA
Almost two-thirds or 163 gigawatts (GW) of newly installed renewable power in 2021 had lower costs than the world’s cheapest coal-fired option in the G20.
30-07-2022

Chevron, Exxon Post Record Quarterly Profits as Commodity Prices Boom
Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boosted operations, and as the oil giants kept spending in check.
Energy Investment
29-07-2022

Adnoc Distribution to Buy 50% Stake in TotalEnergies Egypt in Its Largest Investment
The acquisition, expected to be completed in the first quarter of 2023, marks the UAE company's entry into Arab world's most populous market

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