Economy

Nearly 20% of Scottish Firms ‘Expect to Reduce Operations Due to Rising Energy Prices’

One-in-five businesses in Scotland expect to reduce operations this year due to the increase in energy prices.

Energy Transition

RWE to Spend €15bn on German Decarbonisation Portfolio

German utility RWE has announced a plan to invest €15 billion ($17.1 billion) to expand its portfolio of green energy in a move to accelerate the energy transi…

Solar Power Plant

Iberdrola Adds 86MW to Portuguese Renewables Business

Spanish multinational utility Iberdrola is expanding its renewable energy business in Portugal by kickstarting the development of four clean energy projects.

France

France Remains Europe’s Biggest Power Exporter Despite Winter Imports

France maintained its position as the biggest net exporter of power in Europe in the second half of 2021, despite an extreme reliance on imports at the beginnin…

Hydropower Plant

Investments in Hydro Set to Increase in 2022 Says New Research

Hydropower capacity in 2022 is set to exceed 1200GW and investments will climb to $36.3 billion, new research from Rystad Energy has suggested, with hydro set t…

Sumitomo Electric Secures US$200M Worth 400 kV High-Voltage Direct Current Submarine Cable Project in UAE

Sumitomo Electric Industries, Ltd. has received a limited notice to proceed (LNTP) from Samsung C&T Corporation to deliver a high-voltage direct current (HVDC) …

Offshore Wind Power

UK to Hold Yearly Contracts for Difference Auctions from 2023 Onwards

The UK government will increase the frequency of auctions for funding through the Contracts for Difference (CfD) scheme to every year rather than every two year…

Siemens Reports “Solid Performance” for Gas and Power

Siemens announced its results for the first quarter of fiscal year 2022 that ended Dec. 31, 2021.

Crude Oil

U.S. Crude Output to Rise 770,000 bpd in 202R

U.S. crude oil output is expected to rise 770,000 barrels per day to 11.97 million bpd in 2022, the government said in a monthly forecast on Tuesday.

Crude Oil

Mexico Slashes Oil Exports to India

Mexico, which was one of the top-ten oil suppliers to India last year, has drastically cut its crude exports to the Asian consumer so far this year.

Ofgem’s Boss: “We Need to Update the Price Cap More Frequently”

Ofgem’s Chief Executive Officer Jonathan Brearley has today hinted at more frequent changes in the level of the price cap.

Rooftop PV System

New Custom Duty on Solar Equipment Looms over India’s RE Goals

The government will be introducing a 25% rate on solar cells and 40% on solar modules in April.

Polysilicon Shortages in Solar PV Markets to End Within 18 Months

The solar squeeze of 2021 will be ended by a surge of new polysilicon production capacity coming online in the next two years, according to new research from Re…

Energy Transition

Global Corporates Increase Renewable Energy Acquisition by 24%

Corporates bought 24% more renewable energy capacity in 2021 compared to 2020, according to a new report released by BloombergNEF.

Australia

Australia’s NSW Raises Renewable Energy Zone Capacity

NSW also has plans to develop hubs for developing hydrogen and ammonia from renewable energy sources.