Energy

UK Faces Urgent Reforms to Meet 2030 Clean Power Goal

November 5, 2024

UK Faces Urgent Reforms to Meet 2030 Clean Power Goal

Britain’s National Energy System Operator has warned that significant reforms are needed to decarbonize the electricity grid by 2030. Expanding renewable capacity and streamlining grid connections are essential to meet climate goals without escalating costs.

Spain's Cepsa Rebrands as Moeve Amid Low-Carbon Transition

October 31, 2024

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Spain's Cepsa Rebrands as Moeve Amid Low-Carbon Transition

Spanish oil giant Cepsa, owned by Abu Dhabi’s Mubadala and the Carlyle Group, announced a rebranding to Moeve as it pivots to low-carbon energy. The company plans to invest €8 billion in sustainable initiatives, focusing on green hydrogen, biofuels, and electric mobility, with sustainable revenue expected to dominate profits by 2030.

CEZ and Rolls-Royce Partner on SMR Reactors in Europe

October 29, 2024

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CEZ and Rolls-Royce Partner on SMR Reactors in Europe

Czech energy company CEZ has signed an agreement with Rolls-Royce SMR to develop small modular reactors (SMRs) at the Temelin nuclear plant, with the first reactor anticipated in the early 2030s. CEZ will invest several billion Czech crowns, gaining a 20% stake in Rolls-Royce SMR.

EU Funding Provides €470mn For Seven Danish Green Projects

October 23, 2024

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EU Funding Provides €470mn For Seven Danish Green Projects

Seven Danish projects have secured DKK 3.5 billion in EU funding, representing 10% of the EU's total €4.8 billion (DKK 36 billion) pool. These projects aim to reduce over 33 million tonnes of CO2 over the next decade, with a significant portion focused on green fuel production.

France to Launch Tenders for 9.2 GW Offshore Wind Projects

October 21, 2024

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France to Launch Tenders for 9.2 GW Offshore Wind Projects

France is set to issue tenders for five offshore wind farms totaling 9.2 gigawatts (GW) in the coming months, as part of its long-term goal to reach 45 GW of offshore wind capacity by 2050. The projects will include both fixed and floating wind farms and are part of France's strategy to boost renewable energy production.

China Dominates EU Solar Market: 98% of Solar Panels Sourced from China

October 17, 2024

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China Dominates EU Solar Market: 98% of Solar Panels Sourced from China

The European Union's green transition is hampered by its reliance on China for solar panels. Despite efforts to reduce energy dependence, 98% of solar panel imports in 2023 came from China. This is due to China's lower production costs and the EU's decision to lift tariffs on Chinese solar panels in 2018.

US Startup Last Energy to Build Micro Nuclear Project in Wales

October 15, 2024

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US Startup Last Energy to Build Micro Nuclear Project in Wales

U.S. startup Last Energy plans to develop a £300 million ($391 million) micro nuclear project in Bridgend, South Wales, aiming to supply local industrial customers with emissions-free power. The project, slated to start generating electricity by 2027, will not require public funding and is expected to support the UK's net-zero goals.

Greece's Revised Climate Plan Targets 82% Renewable Energy by 2030

October 14, 2024

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Greece's Revised Climate Plan Targets 82% Renewable Energy by 2030

Greece has unveiled an ambitious climate plan, aiming for 82% of its electricity to come from renewable sources by 2030, up from its previous target of 66%. The updated strategy, focuses on expanding solar and wind power and is part of Greece's contribution to the EU's goal of cutting greenhouse gas emissions by at least 55% by 2030. The plan will require an estimated €95 billion in investments by 2030.