article thumbnail

BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

Green Car Congress

While the number of new clean power-generating plants completed stayed flat year-to-year, the volume of power derived from coal surged to a new high, according to Climatescope , an annual survey of 104 emerging markets conducted by research firm BloombergNEF (BNEF). thousand terawatt-hours in 2018, up from 6.4 thousand in 2017.

Coal 243
article thumbnail

Renewables to overtake coal as largest global electricity source in 2025

Teslarati

While more effort is needed to reach that goal, one energy organization has predicted that renewables will overtake coal generation as the world’s largest electricity source in early 2025. The post Renewables to overtake coal as largest global electricity source in 2025 appeared first on TESLARATI. What are your thoughts?

Coal 137
article thumbnail

Germany and Australia to establish alliance on green hydrogen supply chain

Green Car Congress

Among other things, we will promote the production of hydrogen on an industrial scale in Australia with German-Australian ‘Hydrogen Hubs’ using German technology and explore possibilities for cooperation within the framework of our new international funding instrument ‘H2-Global’. Co-financing of an AUS-DEU H 2 incubator for applied research.

Australia 334
article thumbnail

US, UK, other G7 countries to ‘predominantly decarbonize electricity sectors by 2035’

Electrek

The G7 also agreed to end government financing for international coal-fired power generation and speed up the phase-out of unabated coal plants by 2035. The G7, made up of the world’s largest economies, today agreed to “predominantly decarbonized electricity sectors by 2035.”

Coal 145
article thumbnail

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
article thumbnail

NRG invests additional $35M in FuelCell Energy for 6% of company; establishes $40M financing facility

Green Car Congress

FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. The company’s project finance subsidiaries may draw on the facility to finance the construction of projects through the commercial operating date (COD) of the power plants.

Financing 244
article thumbnail

Worldwatch: Fossil fuel subsidies continue to outweigh those for renewable energy; international pledges on reform unfulfilled

Green Car Congress

Although independent reporting on these subsidies has increased, global efforts to move forward with subsidy reform have been hindered by a variety of causes, leaving international pledges unfulfilled. of the GDP for 2011–12, according to the International Institute for Sustainable Development’s Global Subsidies Initiative ( GSI ).

Renewable 312