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China CDM Fund, the government body that invests money from carbon credits, will almost double its available cash for renewable energy projects to 10 billion yuan ($1.5 billion) in 2012, the vice director of the fund said.
The fund, which manages 6 billion yuan currently, will add as much as 3 billion yuan a year through 2012, Jiao Xiaoping, deputy director general of China CDM Fund, said in an interview in Shanghai yesterday.
Five years ago, the leaders of this sun-scorched, wind-swept nation made a bet: To reduce Portugal’s dependence on imported fossil fuels, they embarked on an array of ambitious renewable energy projects — primarily harnessing the country’s wind and hydropower, but also its sunlight and ocean waves.
Today, Lisbon’s trendy bars, Porto’s factories and the Algarve’s glamorous resorts are powered substantially by clean energy. Nearly 45 percent of the electricity in Portugal’s grid will come from renewable sources this year, up from 17 percent just five years ago.
Northern Ireland just outlined how it hopes to get 40% of its electricity from renewable sources by 2020 and, apparently not to be outdone, First Minister of Scotland Alex Salmond thinks that's not an ambitious enough target. Speaking to Reuters, Salmond said Scotland should be able to produce 100% its electricity from low-carbon sources by 2025.
Iberdrola Renovables, in consortium with Neoenergia, has been awarded the contract for nine new wind farms in Brazil, with total installed capacity of 258 MW. It is the second contract to develop renewable energy that the company has won in Brazil.
The contract award took place in Rio de Janeiro, during the second tender process for renewable energies in the country, organised by the Agencia Nacional de Energía Eléctrica (Aneel).
Iberdrola Renovables has committed to supply the electricity generated at these facilities to the Brazilian government for a 20-year period, starting in January 2013. The annual amount of the contract awarded yesterday by Aneel is about €60 million (130 million reales).
Germany could derive all of its electricity from renewable energy sources by 2050 and become the world's first major industrial nation to kick the fossil-fuel habit, the country's Federal Environment Agency said today.
The country already gets 16% of its electricity from wind, solar and other renewable sources – three times' higher than the level it had achieved 15 years ago.
"A complete conversion to renewable energy by 2050 is possible from a technical and ecological point of view," said Jochen Flasbarth, president of the Federal Environment Agency.
"It's a very realistic target based on technology that already exists – it's not a pie-in-the-sky prediction," he said.
Australia is no stranger to tight water supplies, and fortunately that means smart water conservation strategies are being devised all the time. Australia is leading the way in everything from strategies to combat desertification to using renewable energy for desalination plants, and now it is putting that knowledge to work on six new infrastructure projects that can save 1.3 billion gallons of water.
The Green Party's Energy Minister Eamon Ryan has hailed major progress in green power generation, with Ireland already exceeding its 2010 target. He welcomed a report by Sustainable Energy Authority of Ireland - Renewable Energy in Ireland - which shows that Ireland generated 14.5% of its electricity from renewable sources. The target for 2010 was 15%.
Europe can switch to low carbon sources of energy without jeopardising reliability or forcing up energy bills to punitive levels, according to a major new study that claims to be the most comprehensive assessment to date of the viability of zero carbon power supplies.
They prefer to call it wastewater, but the bottom line is that researchers at the University of Nevada are close to commercializing a process for generating renewable energy from sewage sludge. The energy could be used to run equipment at the plants, which is a big deal because sewage treatment plants are massive energy consumers
The European Union is set to achieve its self-imposed target of deriving at least 20 per cent of its energy consumption from renewable sources by 2020, the bloc's executive said on Thursday. The target is part of the EU's so-called 20-20-20 strategy, which also foresees a 20 per cent reduction of greenhouse gas emissions below 1990 levels and a 20 per cent increase in energy efficiency, all by 2020.
Britain's biggest coal plant needs better renewable energy support to invest in new facilities to burn woodchips instead of coal and fully utilise its existing carbon cutting capability, the chief executive of Drax told Reuters on Friday.
Under Britain's existing renewable energy support scheme, called the Renewables Obligation (RO), the amount of renewable energy that can come from burning biomass instead of coal is capped in a system designed to push big multi-plant utilities to invest in other types of clean energy projects.
But Drax, which runs just one big plant -- the largest single source of carbon emissions in Britain -- has invested heavily in technology to use cleaner organic fuel -- called co-firing -- and wants the cap lifted.
As Google’s resident “green energy czar,” Bill Weihl is charged with pursuing the company’s stated goal of making renewable energy, through a mix of internal research and external investments, cheaper than coal. Since 2007, Google has invested more than $45 million toward that end.
Green Inc. recently visited Google’s headquarters in Mountain View, Calif., and caught up with Mr. Weihl — one of Time Magazine’s 2009 Heroes of the Environment — to talk about Google’s place in the development of the renewable energy industry.
Indian mobile phone and commodity export firm Airvoice Group has formed a joint venture with public sector body Satluj Jal Vidyut Nigam to build 13GW of solar and wind capacity in a sparsely populated part of Karnataka district in south west India.
The joint venture is budgeting to invest $50 billion over a period of 10 years, claiming it to be the largest single renewable energy project in the world.
A South Korean consortium led by Samsung C&T Corporation has won a $6 billion deal to supply renewable energy equipment to the Canadian province of Ontario, the company said on Thursday
Take 100 billion pounds, a plan to create 60,000 jobs, and the urgent need to end an addition to fossil fuels, and what do you get? The first steps in Britain’s plan to develop its offshore wind farm capabilities. The UK recently announced plans for two massive turbine farms, and has set a target of producing 33 gigawatts of renewable energy by 2020 – a 3000% increase over current capacity.
Global investors representing $13 trillion in assets called on the United States and other countries on Thursday to adopt policies to fight climate change they said would unleash a potential flood of private money into renewable and efficient energy.
The stimulus package passed in 2009 by Congress may help shovel-ready community wind projects move ahead, according to a new report by Mark Bolinger, a scientist in the Environmental Energy Technologies Division of the U.S. Department of Energy's Lawrence Berkeley National Laboratory.
UK-based purchaser and supplier of independently generated electricity SmartestEnergy now has over 1500MW under management, which the company said gives it the largest portfolio of non-utility generated electricity in the UK.
California's renewable power boom is off to a slower start than planned.
Delays have hit more than half of the big solar, wind and geothermal energy projects under development throughout the state, according to a recent government report. They're still moving forward, but not at the pace their developers expected.
As a result, California probably won't meet its goal of getting 20 percent of its electricity from renewable sources by the end of 2010 - a key element of the state's fight against global warming. "
"As the country’s thirst for renewable energy grows, leading public utilities like San Diego Gas & Electric (SDG&E) are developing smart grids that seamlessly combine alternative energy with current energy infrastructure systems.
SDG&E and BMC Software (NYSE: BMC) are working together as part of a coalition of more than 25 companies to convert the utility’s energy system into a digital smart grid that manages alternative energy sources such as solar and wind and accommodates the rapid adoption of electric vehicles."
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