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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report. —Dr Birol.

Global 344
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IEA: global energy investment stabilized above $1.8T in 2018; security and sustainability concerns growing

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Global energy investment stabilized in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review. Global energy investment totalled more than US$1.8

2018 191
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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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The global net zero transition can represent a $3.5-trillion Today, coal-fired plants meet more than 60% of Indonesia’s power demand. Under the ETS, coal’s share rises to a peak of 74% by 2027 and then declines to 24% in 2050. By then, the combined share of renewables in electricity supply reaches 74%. trillion under the NZS.

Indonesia 195
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Australian thermal coal mine aims for Q4 restart on supply deal – ET Auto

Baua Electric

Surging prices for coal last year have led to some new coal mines ramping up after the war in Ukraine exacerbated a supply shortage brought on by growing reluctance from climate conscious investors to funding new fossil fuel projects. In March it had said it expected to restart in the second half of 2023.

Coal 40
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Australian Government establishes A$300M fund to support hydrogen projects

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The A$300 million (US$193 million) Advancing Hydrogen Fund will be administered by the Clean Energy Finance Corporation (CEFC). CEFC finance remains central to filling market gaps, whether driven by technology, development or commercial challenges. The CEFC Advancing Hydrogen Fund will draw on existing CEFC finance.

Hydrogen 286
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Sasol and ITOCHU to partner on green ammonia and hydrogen

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MUFG Bank Ltd, one of the largest Financial Institutions in the world, and a market leader in sustainable financing solutions, witnessed the signing of the MoU. Japan is expected to be a large importer of green ammonia in the future. Japan is expected to be a large importer of green ammonia in the future.

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RWE and ArcelorMittal intend to build and operate offshore wind farms and hydrogen facilities for low-emissions steelmaking

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The partnership centers on driving forward the production of carbon-neutral steel, with a plan to replace coal with wind power and green hydrogen as the main source of energy in steel production at ArcelorMittal’s steelmaking sites in Germany.

Wind 195