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IEA: nuclear power can play a major role in transition to low emissions energy systems; Russia, China leading on new reactor starts

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As the world contends with a global energy crisis, nuclear power has the potential to play a significant role in helping countries to securely transition to energy systems dominated by renewables, according to a new special report by the IEA. —IEA Executive Director Fatih Birol.

Russia 458
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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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The most notable new policies include the US “Inflation Reduction Act”, legislation providing more than $369 billion in funding for clean technologies, and the European Union’s REPowerEU plan, which sets ambitious targets to reduce reliance on gas from Russia. Meanwhile, projects face long lead times to finance, develop and commission.

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Rusnano and I2BF invest $20M in Nesscap; production and research in Russia

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Nesscap will use the proceeds from this financing for the establishment of a full-scale production facility for ultracapacitors and accompanying research center in the Russian Federation (US $15,000,000) and for the expansion of Nesscap’s current manufacturing and core R&D operations in Korea and for general corporate purposes (US $5,000,000).

Russia 186
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Major power and gas company E.ON splitting in two; focusing on renewables, spinning off conventional power generation

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itself will focus on renewables, distribution networks, and customer solutions. The existing conventional generation, global energy trading, and exploration and production businesses will be combined in a new, independent company (“New Company”), a majority of which will be spun off to E.ON SE shareholders. SE shareholders. In 2015, E.ON

Power 244
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SGH2 building largest green hydrogen production facility in California; gasification of waste into H2

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The plant will feature SGH2’s technology, which will gasify recycled mixed paper waste to produce green hydrogen that reduces carbon emissions by two to three times more than green hydrogen produced using electrolysis and renewable energy, and is five to seven times cheaper. That’s why our partnership with SGH2 is so important.

Waste 448
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Nornickel, Rosatom and FESRC to design and build LNG-icebreaker to escort Nornickel ships along Northern Sea Route

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Nornickel, the largest industrial company in the Russian Arctic, has unique expertise in operating the Northern Sea Route, a strategic transport artery of the global logistics system. Nornickel has been modernizing and expanding infrastructure in port cities, as well as increasing and renewing its fleet to handle the increased cargo traffic.

Design 195
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G20 Leaders Agree to Phase Out Fossil Fuel Subsidies

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The Organization for Economic Cooperation and Development (OECD) and the IEA have found that eliminating fossil fuel subsidies by 2020 would reduce global greenhouse gas emissions in 2050 by ten percent. This reform will not apply to our support for clean energy, renewables, and technologies that dramatically reduce greenhouse gas emissions.