Global

The European Commission has granted EUR 998 million to a Dutch scheme to promote green hydrogen production, along with EUR 80 million to Djewels, a subsidiary of HyCC, to advance its green hydrogen technology. This funding supports the EU Hydrogen Strategy and the European Green Deal, which aim to develop green hydrogen, produced through the electrolysis of water using renewable energy. The funding will support the construction of at least 200 MW of electrolysis capacity,…

JGC Japan Corporation and Sumitomo Corporation have agreed to explore a potential collaboration in the floating offshore wind (FOW) power generation sector.   The exploration will focus on establishing a supply chain for floating foundation design, developing manufacturing partners, managing orders, and transporting components to base ports for offshore wind power generation. The goal is to meet the increasing demand for FOW power generation, projected to grow significantly by 2050. According to Det Norske Veritas (DNV),…

Iberdrola has received approval to commence preliminary construction of the El Escudo wind farm in Cantabria, Spain. The project, led by local firm Biocantaber, in which Iberdrola España holds a stake, aims to enhance Spain’s renewable energy capacity. With a planned capacity of 101 MW, El Escudo will generate enough energy to power 95,300 households annually and prevent the emission of 45,000 metric tons of CO₂ each year. The project represents a EUR 120 million…

Tekmar Energy has delivered cable protection systems (CPS) for 328 km of 66KV inter-array cables at Dogger Bank A, a critical phase in constructing the world’s largest offshore wind farm off the east coast of England. The operation involves DEME Offshore’s cable-laying vessel Viking Neptun and burial operations by Living Stone. The network will include 95 cables, some extending 13.8 km, connecting Dogger Bank A’s 95 Haliade-X 13MW turbines to the offshore converter station. Electricity…

Grid operator Enagas has received provisional approval from the Spanish Government to develop the Spanish section of the trans-European H2med hydrogen pipeline and related infrastructure projects. The H2med project, in collaboration with Spain, France, Germany, and Portugal, includes interconnections, an underwater pipeline between Spain and France, and hydrogen storage facilities. Enagas will work with operators GRTgaz, Terega, OGE, and REN. The total cost of Spain’s hydrogen portfolio is expected to be EUR 4.9 billion, with…

NKT has started slipform casting for a third extrusion tower at its offshore high-voltage cable factory in Karlskrona, Sweden, to meet the rising demand for renewable energy cables. The 200-meter tower, Sweden’s second tallest, will enhance NKT’s capacity to produce larger, longer high-voltage offshore cables. This investment is part of NKT’s strategy to handle its order backlog and expected market growth, including adding a second cable-laying vessel by 2027 and hiring 500 new employees. Using…

Extracting cobalt, nickel, rare earth elements, and other metals from the ocean depths could accelerate the world’s shift to renewable energy. These minerals, scarce on land and hazardous to mine, are abundant just above the ocean floor. However, the seabed’s unique ecosystems, filled with unexplored life forms, present significant challenges. The Metals Company, a Canadian firm, is exploring the mineral-rich Clarion-Clipperton Zone between Mexico and Hawaii. Their research has revealed not only strange life forms…

Uber Technologies and BYD Company Limited have announced a multi-year partnership to introduce 100,000 new BYD electric vehicles (EVs) onto the Uber platform across key global markets. Starting in Europe and Latin America, the initiative will expand to the Middle East, Canada, Australia, and New Zealand. This partnership aims to provide Uber drivers with access to competitive pricing and financing for BYD vehicles, accelerating the adoption of EVs on the Uber platform. Both companies are…

First Solar, US, reported that its second-quarter (Q2) profit more than doubled, benefiting from stable demand for its products. The company’s cadmium telluride solar panels are favoured by developers due to their independence from polysilicon, a material predominantly produced in China and used in most solar panels. US utilities are ramping up infrastructure investments as power consumption in the world’s largest economy is projected to hit record highs in 2024 and 2025, driven by the…

Issuance of green, social, sustainability, sustainability-linked, and transition bonds fell 19 per cent quarter-on-quarter after a spike in Q1 2024. According to Moody’s Investors Service, global sustainable bond issuance declined in the first half of 2024, with Q2 issuance down 20 per cent year-on-year to USD 238 billion. However, reaching USD 1 trillion in full-year issuance is still “within reach.” The recent quarter saw USD 146 billion in green bonds, USD 39 billion in social…