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Volvo Cars? Chengdu car plant powered by 100% renewable electricity; 65% hydropower

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The Volvo Cars manufacturing plant in Chengdu, the company’s largest in China, is now powered by 100% renewable electricity, taking the company’s global renewable electricity mix in its manufacturing network to 80%. Until recently, the Chengdu plant already sourced 70% of its electricity from renewable sources.

Volvo 389
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bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

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bp and the Ministry of Energy and Minerals in Oman signed a Strategic Framework Agreement (SFA) and a Renewables Data Collection Agreement which will support the potential development of a multiple gigawatt, world-class renewable energy and green hydrogen development in Oman by 2030.

Oman 321
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Study finds future-fuel demand for shipping industry equal to entire current global production of renewables

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Huge and immediate need for renewable-based fuels in shipping represents opportunity for investors, according to ‘Fuelling the Fourth Propulsion Revolution’ report released today. Particular opportunity for the Global South identified as net-zero fuel production costs expected to be up to 20% lower in Latin America and Africa.

Renewable 210
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IEA: global electricity demand growing faster than renewables, driving strong increase in generation from coal

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Renewables are expanding quickly but not enough to satisfy a strong rebound in global electricity demand this year, resulting in a sharp rise in the use of coal power that risks pushing carbon dioxide emissions from the electricity sector to record levels next year, according to a new report from the International Energy Agency.

Coal 221
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Rio Tinto plans to invest $600M more in renewable energy in the Pilbara

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Rio Tinto is planning to invest a further $600 million in renewable energy assets in the Pilbara as part of the company’s efforts to decarbonize its Western Australian iron ore operations. The investment will fund the construction of two 100MW solar power facilities as well as 200 MWh of on-grid battery storage in the Pilbara by 2026.

Renewable 218
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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). billion raised—up 63% on the previous year.

Financing 243
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Intermountain Power Agency orders MHPS JAC Gas Turbine technology for renewable-hydrogen energy hub, operated by LA DWP

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This award marks the first Advanced Class Gas Turbines in the industry specifically designed and purchased as part of a comprehensive plan to sequentially transition from coal, to natural gas and finally to renewable hydrogen fuel, and creates a roadmap for the global industry to follow. and Hitachi, Ltd.