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Norwegian startup Blastr plans €4B green steel plant in Finland

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Fortum has developed the Joddböle area since the dismantling of its Inkoo coal-fired power plant there in 2017-2020. The controlled implosion of the last chimney at the plant was on 24 March 2020.) Back then, it was the biggest coal-fired power plant in the Nordic countries. The now-demolished Inkoo coal plant.

Finland 437
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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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billion tonnes, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to new IEA analysis. China was the only major economy to experience economic growth in both 2020 and 2021. billion tonnes.

Emissions 370
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Utility solar dethrones coal as the cheapest power source in Asia

Baua Electric

Photo: China News Service Renewable energy costs in Asia last year were 13% cheaper than coal and are expected to be 32% cheaper by 2030, according to a new study. This is significant because it marks a shift toward making renewables increasingly competitive with coal, a mainstay in APAC’s energy mix.

Asia 52
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BloombergNEF reports 11% year-on-year rise in renewable energy financing in the first half of 2022, for a total of $226B

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Wind project financing was up 16% from 1H 2021, at $84 billion. Both sectors have been challenged recently by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs. billion raised, is the lowest quarterly total since 2Q 2020. The 2Q figure, at $3.9

Financing 243
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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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Energy investment is set to fall by one-fifth in 2020 due to the COVID-19 pandemic. At the start of 2020, global energy investment was on track for growth of around 2%, which would have been the largest annual rise in spending in six years. Global investment in oil and gas is expected to fall by almost one-third in 2020.

Global 344
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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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Increasing US refinery production along with rising crude oil supply from OPEC, its partner countries, and US tight oil producers should help bring those prices down. million b/d from March 2020. million b/d from 2020. MMBtu in 2020 to $3.31/MMBtu In 2022, EIA expects coal production to grow by an additional 16 MMst (3%).

2019 186
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Los Angeles takes steps to transition out of coal-fired power earlier than required by state law

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The Los Angeles Department of Water and Power (LADWP) has taken steps to transition out of the use of coal-fired electricity earlier than mandated by California state law. LADWP currently owns a 21% interest in the 2250 megawatt (MW) Navajo Generating Station, receiving 477 MW of coal-fired power from the plant.