New policies in major energy markets would accelerate the investment in clean energy to US$2 trillion by 2030 in the states policies scenario (STEPS), according to a report from the International Energy Agency (IEA).
Brookfield Asset Management has raised US$15 billion as part of its Brookfield Global Transition Fund that will focus investments on the transition to a net zero carbon economy.
Timo Moeller, president of International NovaSource Power Services and head of NovaSource in Europe, stresses the need for the industry to entrust experts at every step of the project lifecycle, or risk deterring investment.
The UN secretary-general, António Guterres, has issued a stark warning concerning the “dismal litany of humanity’s failure to tackle climate disruption” in an speech in which he set out “five critical actions to jumpstart the renewable energy transition”.
The European Union (EU) should set higher solar PV deployment targets and speed up the energy transition to phase out its energy dependency on Russia as soon as possible, according to five member states of the bloc.
Italian grid operator Terna will invest €9.5 billion (US$10.45 billion) to help improve the country's national transmission grid and build cross-border interconnections, paving the way for easier access for renewables.
The drive to electrify Sub-Saharan Africa will require US$350 billion of investment and could reveal an alternative vision for the energy transition that focuses on a decentralised, bottom-up solar-and-storage rich grid that takes advantage of cheap solar power, according to research firm Wood Mackenzie.
Eastern European solar markets face a familiar foe in grid constraints, especially with high voltage network capacity, but high energy prices are creating potential for merchant projects in the region.
