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Renewables to overtake coal as largest global electricity source in 2025

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During the COP28 climate conference held in Dubai last month, world leaders from over 130 national governments agreed to set a goal to triple world renewable energy installations by 2030. Success in meeting the tripling goal will hinge on this.”

Coal 137
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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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Global investment in renewable energy totaled $226 billion in the first half of 2022, setting a new record for the first six months of a year, according to Renewable Energy Investment Tracker 2H 2022, a new report published by research firm BloombergNEF (BNEF). Wind project financing was up 16% from 1H 2021, at $84 billion.

Financing 243
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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

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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
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IG Metall warns that Krupp Mannesmann steel plant may fail due to lack of financing for conversion to climate-neutral steel production

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IG Metall, Germany’s largest union as well as Europe’s largest industrial union, warns that at Hüttenwerke Krupp Mannesmann (HKM), the switch to climate-neutral steel production is may fail due to the lack of financing. This would be the end of the plant, IG Metall said. With a current production volume of 4.2

Financing 221
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BNEF: cost of new renewables rises as inflation starts to bite

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Global benchmarks conceal a range of country-level estimates that vary according to market maturity, resource availability, project characteristics, local financing conditions and labor costs. New-build onshore wind and solar projects are now around 40% lower than BNEF’s global benchmarks for new coal- and gas-fired power.

Cost Of 210
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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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Both scenarios expect that growth in electricity demand can primarily be met by deployment of renewables such as solar, due to their falling costs. 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.

Indonesia 195
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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). As an early priority, CEFC will seek investment in projects included in the ARENA Renewable Hydrogen Deployment Funding Round. The CEFC Advancing Hydrogen Fund will draw on existing CEFC finance.

Hydrogen 286