India announced new renewable energy goals last year to increase non-fossil power capacity to 500 GW and meet 50% of the country’s electricity needs through renewables by 2030. However, after including large hydro under the definition of renewables, the country is likely to achieve its 2022 target but may miss out on the solar specific target, and subsequently fall short of the 2030 target, says GlobalData, a data and analytics company.
Singapore’s Mooreast Holdings has announced plans to expand its mooring and rigging solutions products range and to enhance partnerships with international players as it eyes expansion in the global floating offshore renewable energy sector following an IPO last November.
Germany and India have signed a series of bilateral agreements that will see the South Asian country get 10 billion euros ($10.5 billion) in aid by 2030 to boost the use of clean energy.
Optimism abounds about the future of wind power, with a clean-energy boom powering robust growth in an industry that businesses and governments agree is key to slowing climate change. But a nagging problem could keep the sector from fulfilling that promise: Turbine makers are still struggling to translate soaring demand into profit.
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.
The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion toward clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire.
The Indonesian government estimates that total investment of up to $1,043 billion will be needed to develop new power plants fuelled by renewable energy to achieve its goal of carbon neutrality by 2060. The Southeast Asian nation is currently heavily reliant on coal for power generation.
French power company EDF Group (EPA:EDF) has signed a memorandum of understanding with Singapore government-owned utilities company SP Group to jointly develop a subsea transmission cable to enable renewable energy imports from Indonesia to Singapore.
State-backed Thai player PTT Exploration & Production’s (PTTEP’s) new chief executive, Montri Rawanchaikul, intends to strengthen the firm’s core upstream business in Southeast Asia, while preparing for new energy opportunities.
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
Indonesian national oil company (NOC) Pertamina has a planned capital expenditure totalling $92 billion for the term 2020-24. The NOC will be seeking external funding and partnerships to meet this goal.
Malaysia’s Petronas is almost doubling its yearly capital investment spend on new energy initiatives this year as it eyes a slow measured diversification away from the traditional oil and gas business.
Chevron has announced the launch of its $300 million Future Energy Fund II focused on technologies that have the potential to enable affordable, reliable, and ever-cleaner energy for all, it said.
Carbon Neutral Energy (CNE) has brought in a marine and shipping sector veteran with a bulging contacts book to help speed up the fledgling green battery firm’s growth.
British challenger energy supplier Octopus has been valued at more than two billion dollars (£1.5 billion) in a new deal which launches its brand in Japan.
Boris Johnson’s plan to quadruple the size of the U.K. offshore wind industry will require $58 billion of investment and careful management of what’s a tricky building process in some of the world’s roughest waters.
The boss of one of Scotland's leading renewable developments has warned the country needs to be proactive if it’s going to maintain its places as a "world leader" in floating wind.
Wind and solar energy doubled its share of the global power mix over the last five years, moving the world closer to a path that would limit the worst effects of global warming.
