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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. It also invested $58 billion in new wind projects, up 107% year-on-year.

Financing 243
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RWE and ArcelorMittal intend to build and operate offshore wind farms and hydrogen facilities for low-emissions steelmaking

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Energy company RWE and steel producer ArcelorMittal have signed a memorandum of understanding to work together to develop, build and operate offshore wind farms and hydrogen facilities that will supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany.

Wind 195
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ITM Power and ABO Wind to develop wind-to-hydrogen projects in the UK, Ireland and Germany

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ITM Power signed an agreement with ABO Wind of Wiesbaden, Germany to identify and develop wind-to-hydrogen projects in the UK, Ireland and Germany. To date, ABO Wind has connected more than 350 turbines with a total capacity of more than 600 megawatts through projects in the UK, Europe and Latin America.

Ireland 218
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REC to offer financing for 50,000 e-buses over the next 2-3 years | Autocar Professional

Baua Electric

For the fiscal year ended 2023-24, REC CMD said funding for all green energy projects, which includes a mix of solar, wind energy, and electric mobility, has increased by 533%, from Rs 21,554 crore in FY23 to Rs 1,36,516 crore, including electric mobility and green hydrogen.

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BNEF: wind and solar boost cost-competitiveness versus fossil fuels

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This year has brought a significant shift in the generating cost comparison between renewable energy and fossil fuels, according to detailed analysis by technology and region, published this week by Bloomberg New Energy Finance. In the US, coal and gas are still cheaper, at $65 per MWh, against onshore wind at $80 and PV at $107.

Wind 150
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“Project Volt Gas Volt” proposes long-term financing plan to support widespread implementation of power-to-gas systems

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Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. ETOGAS (formerly SolarFuel) in Stuttgart, Germany, has built a 250 KW demonstration plant for this method. Diagram: Isabelle Plat.

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Rolls-Royce and SOWITEC cooperate on power-to-X projects

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SOWITEC, based in southern Germany, is one of the world’s leading developers of renewable energy projects and has been active for almost 30 years. With more than 4.2

Power 186