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

Sasol and ITOCHU to partner on green ammonia and hydrogen

Green Car Congress

South Africa-based Sasol and Japan-based ITOCHU Corporation have signed a Memorandum of Understanding (MoU) jointly to study and to develop the market and supply chain for green ammonia with a focus on its use as bunkering fuel and for power generation. The product can also be cracked back to hydrogen gas for further applications.

article thumbnail

Joint IEA-NEA report details plunge in costs of renewable electricity; nuclear competitive with other baseload power sources

Green Car Congress

The report, Projected Costs of Generating Electricity: 2015 Edition , also shows that new nuclear power plants generate electricity more cheaply than other established “baseload” sources—mainly coal- and gas-fired power plants—over the full lifetime of facilities when financing costs are relatively low.

Cost Of 150
article thumbnail

Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

Green Car Congress

The 15 th Congress, also known as the 15 th Conference of Parties, or COP 15, was initially intended to be a largely procedural summit, with many major negotiating points settled and most environmental ministers prepared to sign a binding emissions treaty that contained specific emissions targets as well as commitments to financing structures.

Climate 236
article thumbnail

PwC analysis finds meeting 2 C warming target would require “unprecedented and sustained” reductions over four decades

Green Car Congress

The new reality is a much more challenging future in terms of planning, financing and predictability. Examining the role of shale gas, PwC’s report suggests that at current rates of consumption, replacing 10% of global oil and coal consumption with gas could deliver emissions savings of around 3% a year (1gt CO 2 e per annum).