French oil major TotalEnergies plans to use part of its cash bonanza generated from surging hydrocarbon prices to speed up investment in liquefied natural gas (LNG) projects and renewables.
JERA, the largest power generation company in Japan, producing about 30% of the nation’s electricity, is planning to develop at least 1 GW of solar power by end-2025, with new business partner West Holdings, a Japanese renewable energy engineering company.
Sprng Energy Pvt is nearing a deal for Shell to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said.
A group of investors led by BlackRock Real Assets and Mubadala Investment Co. infused 40 billion rupees ($525 million) into the renewable energy unit of Tata Power Co., the Mumbai-based company said.
Renewable energy developer Quantum Power Asia agreed to advance a potential $5 billion plan to export electricity generated from solar in Indonesia to Singapore as the city-state attempts to accelerate its use of renewables and cut its reliance on imported liquefied natural gas (LNG).
France's TotalEnergies and Japanese energy group ENEOS Holdings said that they will team up to sell electricity generated from solar power to Asian businesses.
Surging oil, gas, and power prices, together with the European Union (EU)’s goals of becoming less dependent on Russian supplies, and post-Covid-19 pandemic inflation, will catapult global energy spending this year to a record $2.1 trillion. Significantly, similar levels of spending have not been seen since 2014, Rystad Energy research shows.
The war in Ukraine has jolted European politicians into finally understanding that overdependence on imported energy can carry extreme risks. What they haven’t understand yet though is that you can’t just turn off one set of taps and turn on another.
There has never been so much pressure to wean the human species off its massive dependency on hydrocarbons; with the war in Ukraine and the staggeringly high temperatures recorded in the Arctic and Antarctic further forcing the Great Energy Transition into overdrive.
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russia’s invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
Europe’s ambitious timetable for building its way out of a dependence on Russian energy faces potential delays and billions of dollars in extra costs as the war in Ukraine makes steel, copper and aluminium scarce and more expensive.
Specialist solar batteries supplied by Saft, a subsidiary of TotalEnergies, are providing power continuity for Pertamina’s GG unmanned gas wellhead platform offshore Indonesia. The platform is operated by Pertamina Hulu Energi (PHE) ONWJ, Indonesia’s state-owned oil and gas company and produces around 40,000 barrels of oil per day.
Australia’s Woodside and US-based Heliogen have signed an agreement to deploy a 5 MW electric (MWe) module of Heliogen’s AI-enabled concentrated solar energy technology in California and jointly market Heliogen’s innovative technology in Australia.
The deal volume for renewable energy assets in Asia more than tripled to $13.6 billion in 2021, as the number of transactions surged by 53% year-on-year to 75. Significantly, large corporate mergers in the solar energy sector fuelled the considerable increase in value, reported Enerdatics, a research company.
US-based Enfinity Global has acquired a $1 billion utility-scale solar photovoltaic (PV) power portfolio in Japan. Significantly, the deal marks the largest renewable energy acquisition in Japan for at least five years in terms of transaction value and power capacity, according to Enerdatics, a research company.
China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political, as well as environmental challenge, says Wood Mackenzie.
JGC said it will provide engineering, procurement, and construction (EPC) services at a “mega solar power plant generation project” with 94MW capacity at Bugallon in the Philippines for Aboitiz Power.
A floating solar farm that’s equivalent to about 70 soccer fields in size has begun generating power in Thailand, reflecting the country’s push to achieve carbon neutral status by 2050.
New climate targets announced at the COP26 summit by Indian Prime minister Narendra Modi look set to boost renewable energy growth. However, India’s insatiable demand for electricity will keep the market highly reliant on coal power, posing challenges to the country's decarbonisation plans, according to Fitch Solutions.
Analysts at Rystad Energy believe Southeast Asia could become the largest floating solar photovoltaic (PV) market in the world with several significant projects planned this decade.
The integration of solar energy into Australia’s liquified natural gas (LNG) industry could dramatically reduce Australia’s carbon footprint while also creating thousands of additional jobs, according to the latest research by government-funded NERA (National Energy Resources Australia) and Charles Darwin University (CDU).