The EIA reports that electricity generation from renewable sources such as wind and solar will surpass nuclear and coal by 2021 and to surpass natural gas in 2045.
Ørsted will become carbon neutral by 2025, as announced in its Sustainability report 2019. During the last 10 years, Ørsted has transformed from a company with fossil fuels at the core of its business to a pure-play renewables company.
Australian energy trading technology company Power Ledger has partnered with the Midwest Renewable Energy Tracking System to launch a Renewable Energy Certificate marketplace in the US.
Green Genius has signed a €30 million loan with Eiffel Energy Transition. The company plans to use these funds to develop and build green energy projects across Europe.
According to a report by IHS Markit Technology, the global power generator market, which was valued at US$9.6 billion in 2018, is forecasted to decline to US$8.7 billion in 2023 as the industry transitions from coal to gas and renewables.
The technology group Wärtsilä has won the contract to supply a 33 MW flexible power plant on a fast-track basis to the Barbados Light & Power Company Limited, the utility company on the Caribbean island of Barbados.
Neste has been ranked the world’s third most sustainable company on the Corporate Knights’ Global 100 list.
Abu Dhabi Fund for Development has confirmed the allocation of approximately US$105 million for eight renewable energy projects under the seventh cycle of its partnership with the International Renewable Energy Agency.
An international Ocean Renewable Energy Action Coalition has been formed to advance sustainable deployment of ocean-based renewable energy and mitigate the harmful impacts of climate change.
Seven industrial partners have been awarded funding for a demonstration project in Denmark using offshore wind power to produce renewable hydrogen for road transport.
Ofgem has announced plans to push electricity suppliers to invest more in developing a carbon neutral energy system in the next price control period, in 2023, following pressure from industry and business groups to do more to accelerate decarbonisation of the energy system.
Siemens Gamesa Renewable Energy continues to demonstrate that sustainability can be present in every step it takes as a company, including its funding strategy. In less than a year, it has accumulated €1.48 billion in green guarantee lines.
In October 2018, Ørsted acquired Lincoln Clean Energy (LCE). Since then, areas of the business have been systematically integrated to ensure an effective operating model capitalising on the capabilities from both companies.