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IRENA report says tripling renewables investment required to reach 2050 climate goal

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Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). Renewable energy investment slightly declined in 2018, with modest growth through 2019.

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Qatar invests $125M in energy storage company Fluence

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Fluence, the global energy storage solutions joint venture between Siemens and AES, announced that it has entered into a definitive agreement with the Qatar Investment Authority (QIA) pursuant to which QIA will commit to invest $125 million in Fluence through a private placement transaction.

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3 Oil Majors That Bet Big On Renewables

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Despite the much-vaunted megatrend involving the global electrification drive and shift to renewable energy , the most ambitious pledges by Big Oil to pursue net-zero agendas remain weak at best. BIT:ENI) recently unveiled what has been hailed as the most ambitious climate pledge yet by an oil supermajor.

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Rio Tinto to invest $1 billion over 5 years to help meet new climate change targets

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Mining giant Rio Tinto will invest around $1 billion over the next five years to support the delivery of its new climate change targets and a company objective for net zero emissions from operations by 2050. Enhance resilience to physical climate risks. Rio Tinto’s new 2030 climate targets are linked to executive remuneration.

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AllCell launches line of standard li-ion battery modules for renewable energy storage

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AllCell Technologies LLC has launched a line of lithium-ion energy storage modules. Based on the company’s proprietary thermal management technology ( earlier post ), the modules deliver a combination of energy density, cycle life, and safety.

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SMUD Board of Directors adopts climate emergency declaration; carbon neutrality by 2030

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The SMUD (2020 Sacramento Municipal Utility District) Board of Directors adopted a climate emergency declaration that commits to working toward an ambitious goal of delivering carbon-neutral electricity by 2030.

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US DOE releases Grid Energy Storage report

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The US Department of Energy (DOE) released its Grid Energy Storage report to the members of the Senate Energy and Natural Resources Committee. of total electric production capacity) of grid storage, 95% of which is pumped storage hydro. Europe and Japan have notably higher fractions of grid storage.