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Researchers Unveil Several Ways to Limit Global Warming to 1.5°C by 2100

Photo-illustration: Pixabay
Photo-illustration: Pixabay

A group of researchers led by International Institute for Applied Systems Analysis has used new modelling scenarios to showcase several ways with which to limit global temperature rise to 1.5°C by 2100.

According to their research, “Scenarios towards limiting global mean temperature increase below 1.5 °C“, published in the journal Nature Climate Change, there are in fact several ways to limit global warming to the Paris Agreement’s goal of 1.5°C by 2100, but their modelling shows that the right circumstances are necessary. The research represents one of the first times that scientists investigating limiting global warming to 1.5°C by 2100 have also looked at how socioeconomic conditions such as inequalities, energy demand, and international cooperation would contribute to the feasibility of achieving those goals.

The new research is based on six integrated assessment models and a simple climate model, run under different socio-economic, technological, and resource assumptions that stem from five Shared Socio-economic Pathways (SSPs). The SSPs were previously developed by the International Institute for Applied Systems Analysis (IIASA) along with key partners, and provide a look at different ways in which the world and society might progress. They include a scenario in which the world pursues sustainability, another scenario in which economic and population growth continues along business-as-usual pathways, and another in which the world focuses instead on high economic growth over sustainability.

The researchers showed that not all of these Pathways can limit global warming to 1.5°C by 2100, but did show (unsurprisingly) that all of the successfully modelled scenarios included a rapid shift away from the use of fossil fuels and towards low-carbon energy sources, lowered energy use, and the removal of CO2.

Meanwhile, barriers to achieving a 1.5°C limit to global warming included strong social and economic inequalities, continued reliance on fossil fuels, and unambitious short-term climate policies.

“A critical value of the paper is the use of the SSPs, which has helped to systematically explore conditions under which such extreme low targets might become attainable,” said IIASA Energy Program Director and coauthor Keywan Riahi. “Our assessment shows particularly the enormous value of pursuing sustainable development for reaching extreme low climate change targets. On the other hand, fragmentation and pronounced inequalities will likely come hand-in-hand with low levels of innovation and productivity, and thus may push the 1.5°C target out of reach.”

According to the research, successful scenarios saw greenhouse gas emissions peak and already begin to decline by 2030, continuing to decrease over the next two to three decades at which point zero net greenhouse gas emissions are reached between 2055 and 2075. The successful scenarios also limited energy demand by improving energy efficiency measures. Bioenergy and renewable energy technologies must scale up dramatically over the coming decades, making up at least 60% of electricity generation by 2050. Coal use must fall to less than 20% of its current levels by 2040 and oil is phased out by 2060.

“One of the goals of the Paris Agreement is to limit warming to 1.5°C, but scientific studies mainly looked at the question of limiting warming to 2°C,” said Joeri Rogelj, IIASA researcher and lead author of the study. “This study now fills this gap and explores how climate change by the end of the 21st century can be brought in line with 1.5°C of warming. Individual studies have looked at this question in the past, but this study is the first to use a broad and diverse set of models.”

The successful 1.5°C pathways are now intended for use by the wider climate change research community to be run on the most complex coupled climate models, and will serve as a starting point for further research.

“The study provides decision makers and the public with key information about some of the enabling conditions to achieve such stringent levels of climate protection,” added Rogelj.

Source: cleantechnica.com

India’s Lithion Power To Invest $1 Billion In Battery Swap Program For EVs

Foto - ilustracija: Pixabay
Photo-illustration: Pixabay

India has seen announcements of ambitious plans by automakers in the past few months regarding the introduction and expansion in production of electric vehicles. Companies that provide charging technology have also announced plans to invest in India. Now, a small company based in New Delhi has announced a huge plan to take advantage of the impending explosion in battery demand in India.

According to media reports, Lithion Power plans to invest $1 billion to create a battery swap ecosystem for electric vehicles in India. The company is expected to enter a partnership with other companies to muster the $1 billion investment.

Although the company launched just two years back, it has announced a very ambitious, yet sound business plan. The Indian government has set a target to stop sales of fossil fuel-based cars by 2030. In a policy document released by NITI Aayog, a government arm responsible for drafting long-term policies in India, battery swap was explicitly mentioned as a market-based solution to promote electric vehicles.

Lithion Power is reportedly operating five battery swapping stations in Delhi. They usually cater to small, shared mobility vehicles such as two-wheelers and three-wheelers. The company is expected to maintain a focus on this market segment at least for the next few years. The Indian government is expected to push electric mobility in the public/shared transportation sector first. Automakers in India, too, have mentioned that it would not be easy for the government or the industry to thrust the use of electric cars in the passenger segment.

Company officials told media outlets that battery swapping for electric cars would take time as the battery manufacturers would have to understand the required technical requirements. Yet, the company expects at least one million electric vehicle batteries working on a swapping model in the next three years.

As India moves to introduce electric vehicles on a large scale, many companies are expected to introduce such experimental market models to figure the most financially viable options to survive and thrive.

Source: cleantechnica.com

Statoil Acquires 50% Interest In 1.2 Gigawatt Polish Offshore Wind Farms

Photo illustration: Pixabay
Photo-illustration: Pixabay

Norwegian oil and gas giant Statoil has announced this week it has signed an agreement to acquire a 50% interest in the early phase development of two offshore wind farms in Poland with a combined capacity of 1.2 gigawatts.

Statoil, which is the world’s largest offshore operator and has significant oil and gas assets, is nevertheless making significant strides in diversifying its holdings to acquire renewable energy projects. Among its many new renewable assets is the groundbreaking world first floating offshore wind farm, the 30 megawatt Hywind Scotland, which was recently revealed to be performing even better than had been expected.

Announced on Monday, Statoil revealed that it had entered into an agreement with Polish electric power distribution company Polenergia to acquire a 50% stake in the Bałtyk Środkowy III (BSIII) and Bałtyk Środkowy II (BSII) offshore wind farms which, together, have a planned capacity of 1.2 gigawatts (GW), enough to supply electricity to approximately 2 million Polish households.

“We are very pleased to have entered into a partnership with Polenergia, which is an experienced energy company with a growing renewable portfolio and in-depth knowledge of the Polish electricity market,” explained Irene Rummelhoff, executive vice president of New Energy Solutions in Statoil. “Statoil has an ambition to grow significantly within renewable energy investing up to EUR 10 billion in profitable renewable energy towards 2030, and this acquisition strengthens our presence in the Baltic Sea area giving opportunities for scale and synergies in a longer perspective.”

Located approximately 27 and 40 kilometers off the coast of Poland in the Baltic Sea, Bałtyk Środkowy II and III each have a planned capacity of 600 megawatts and are expected to begin construction respectively in 2023 and 2020, with completion dates respectively in 2026 and 2022.

The move for Statoil falls in line with its existing priorities and projects, as it is already developing with EON the 385 MW Arkona wind farm in the German part of the Baltic Sea, and is also operating three offshore wind farms off the UK coast.

“We are entering a market with growth potential through two of the most advanced offshore wind developments in Poland,” added Rummelhoff. “The country is well-placed to develop a strong offshore wind industry that would create jobs and value in one of the most dynamic parts of the European markets. Following a dramatic reduction in cost for offshore wind, we are looking forward to work with our new partner, the Polish authorities and the Polish supply chain to advance offshore wind as a competitive source of energy and industry.”

Source: cleantechnica.com

ENGIE North America Secures 320 Megawatt Solar Pipeline In SoCore Energy Acquisition

Foto-ilustracija: Pixabay
Photo-illustration: Pixabay

ENGIE North America has this week announced the acquisition of Chicago-based SoCore Energy and its 320 megawatt pipeline of operational and late-stage development solar and battery storage projects.

The North American subsidiary of French multinational electric utility company ENGIE announced on Monday that it had signed an agreement to acquire SoCore Energy, a Chicago-based solar and storage developer with experience in the commercial, industrial, and distributed sectors. SoCore Energy boasts 150 megawatts (MW) of solar assets already in operation or under construction as of March 31, and a further 170 MW worth of solar projects in late-stage development, as well as numerous projects combining battery storage elements.

The move comes only a fortnight after ENGIE North America announced the acquisition of leading California-based utility-scale wind energy developer Infinity Renewables, and its pipeline of 8,000 MW worth of wind projects in various stages of development.

“As with our recently announced acquisition of wind developer Infinity Renewables, with SoCore, ENGIE is investing in an experienced, accomplished development team, and we look forward to working with this team to accelerate the expansion of our renewables presence within the United States,” said Frank Demaille, President and CEO of ENGIE North America. “By adding more solar energy to our other retail, wind, and biomass offerings in the U.S., we can meet customers’ renewable energy procurement goals much more comprehensively than before.”

“The SoCore team is enthusiastic about joining the ENGIE group,” added Rob Scheuermann, CEO and President of SoCore Energy. “Solar development firmly aligns with the strategic direction of ENGIE, and the combination of our talents will enable accelerated growth in the business, as well as more solutions for customers, including solar-with-storage options.”

As with many energy utilities around the world, the urge to diversify into renewable energy sources is strong, and in particular the solar energy sector, with its opportunities for widespread utilisation.

“This is definitely a strategic play in the commercial solar space,” said GTM Research solar analyst Michelle Davis. “In general, Engie is trying to get involved in earlier stages of the commercial solar development value chain. This helps reduce transaction costs and lengthy due diligence steps that are necessary for any given commercial project.”

Source: cleantechnica.com

IKEA Enjoys Sustainable Product Sales Growth and Clean Energy Uptick

Photo-illustration: Pixabay
Photo-illustration: Pixabay

IKEA has revealed further growth in global sales across its sustainable products range last year, as the Swedish furniture giant today reported progress on renewable energy generation as part of its latest sustainability update.

Published today, IKEA’s annual global sustainability report covers the year ending 31 August 2017, and shows that sales of its Sustainable Life at Home range – items which enable customers to save energy, water, waste and money – have grown to €1.7bn.

The range now encompasses more than 500 products, including recycling bins, low energy lightbulbs, efficient kitchen taps and induction hobs which are designed to avoid the air pollution produced by traditional gas cookers.

It also includes its in-store solar panel and battery storage range, which after launching last year is now available in five countries – the UK, Netherlands, Poland, Belgium and Switzerland. The firm said it wanted to become the “first global solar retailer”.

The reportalso confirms the proportion of renewable electricity used by IKEA globally rose from 71 per cent in 2016 to 73 per cent last year, with 750,000 solar panels now installed on IKEA buildings and the firm having invested in 416 wind turbines.

In total, IKEA’s wind and solar sites generated more than 2,300GWh of renewable electricity over the period, the report confirmed, as the company moves closer to its target of generating as much clean energy as it consumes by 2020.

LED lightbulb sales, meanwhile, surged from 79 million bulbs in 2016 to 85 million last year, with IKEA setting its sights on selling 500 million ultra-efficient bulbs between 2015 and 2020.

Scope 1 and 2 emissions from within the retailer’s operations also fell 2.3 per cent, as the company reported slight improvements in energy efficiency across its retail and distribution centre buildings.

However, challenges remain for the company regarding its overall climate impact, with the report showing its scope 3 emissions from across its value chain – by far its bigger source of CO2 – increased from around 22.6 million tonnes to 23.5 million tonnes last year.

Moreover, while IKEA said it diverted 91 per cent waste from its operations away from landfill and instead towards energy recovery, recycling or reuse, the overall amount of waste generated by the company rose fractionally due to business growth and “other factors” IKEA said it was currently investigating.

Waste and resources are set to be a priority for 2018, IKEA said, with a new waste reduction strategy on its way later this year.

Elsewhere, the report signals IKEA is considering “alternatives to our current out of town locations” with a view to improving access for walkers and cyclists, as well as trialling more small ‘pick up and order points’ in city centres for customers.

In addition, the company said it was looking at adding more plant-based protein alternatives to meat in its rapidly growing food business, as well as researching ‘urban farming’ projects in Sweden.

Pia Heidenmark-Cook, chief sustainability officer at IKEA, said she was “excited by the year ahead when we will introduce our updated sustainability strategy with ambitions and commitments leading to 2030”.

The Swedish retailer is poised to launch a new set of global, science-based sustainability targets as part of its People and Planet Positive strategy. The previous strategy, which set targets for 2020, was first launched in 2012 and updated in 2014.

“Since we decided to go all-in for people and the planet, we’ve demonstrated how sustainability can be a driver of innovation and renewal – contributing to the success of our business,” Heidenmark-Cook added. “These steps are not just critical for the future-proofing of our business, they are also what the world needs today.”

The global sustainability results follow a year in which IKEA’s UK stores sent zero waste to landfill and generated 41 per cent of the electricity it uses from renewables.

It has also recently teamed up with the Big Clean Switch campaign to encourage staff and customers to switch their energy supplier to those that source 100 per cent renewables.

Source: businessgreen.com

Vattenfall Plans €100 Million Investment In Large-Scale Solar

Photo: Pixabay
Photo-illustration: Pixabay

Swedish power company Vattenfall, known most recently for its wind energy development, has announced that it plans to invest €100 million in large-scale solar energy generation over the next two years, as part of the company’s plans to become fossil free within a generation.

Announced last week, Vattenfall revealed plans to invest 1 billion Swedish krona (SEK), or €100 million, in large-scale solar energy generation over the next two years — specifically in areas where Vattenfall can use existing infrastructure to reduce the overall cost of a project.

This is not a surprising move, considering a July 2017 announcement that it would begin moving into the solar PV + storage market. The move split its previous Business Area Wind unit into three separate Business Units — Offshore Wind, Onshore Wind, and Photovoltaic & Battery.

“Already early this year, we have taken a decision to adjust our ways of working towards the anticipated market developments,” explained Gunnar Groebler, Head of Vattenfall Wind at the time. “With the “go live” of the new structure, we again put more focus on profitable growth in the renewable space and hence supporting Vattenfall’s overall ambition to power climate smarter living and becoming CO2 free in just one generation.”

Vattenfall already has the 5 megawatt (MW) Parc Cynog solar farm in Wales, paired with its wind farm. The company has also already finalized investment decisions for three large-scale solar projects at existing plants in Velsen, Hemweg, and Eemshaven in the Netherlands which, in total, will have a capacity of 10.5 MW. Vattenfall also has planned investments in the Netherlands this year, including the Haringvliet solar farm which will have a total capacity of 40 MW and will be combined with the nearby Haringvliet wind farm.

“Solar power is an important supplement to wind power as a renewable source of energy,” said Magnus Hall, Vattenfall’s President and CEO. “We are now increasing the investment budget for solar power to satisfy our customers’ increased interest and demand. From electricity consumers, who can obtain electricity from our future solar farms, but also from potential customers, who want to both consume and generate electricity from solar power.”

Source: cleantechnica.com

Costs Fall In Latest French Onshore Wind Tender

Photo-illustration: Pixabay
Photo-illustration: Pixabay

Costs have fallen in the latest French onshore wind tender with a total of 22 projects totaling 508 megawatts being awarded at an average winning price of €65 MW/h, according to results published by the French Government.

The results from the recent French onshore wind auction were published on the 28th of February, and a total of 22 projects were awarded contracts for a cumulative total of 508.4 megawatts (MW) at an average price of €65 MW/h. A total of nearly 900 MW worth of bids were submitted. The weighted average of €65 MW/h, according to European wind energy trade body WindEurope, was lower than the current tariff for smaller projects (€72 MW/h) and the €82 MW/h Feed-in Tariff previously awarded.

According to French renewable energy valuation company Envinergy, Nordex Development walked away with the largest share of the tender, with 99.6 MW, followed by Quadran and WPD.

“The results are unambiguous,” said French Minister for Energy, Nicholas Hulot. “The maturity and competitiveness of onshore wind and more widely renewable energies are a reality. We are only at the beginning of the energy transition.”

Praising the results of the tender, WindEurope CEO Giles Dickson said:

“It’s good to see costs fall. But they remain higher in France than elsewhere in Europe for a number of reasons. First, because project lead-time in France is seven to nine years on average, and once you apply for your permit at the start of the process it’s almost impossible to update it later on with the latest technology. So French developers don’t install state of the art turbines. Also the tip height of turbines is often limited to 150m or less in case of radars and aviation constraints which undermines the deployment of the latest technology. Projects are also get held up in the courts: 70% of authorised projects are currently held up in Administrative Tribunals.

“The government has now proposed reforms that will reduce the average time it takes for wind projects to be completed and connected to the grid. This is very good. The government also proposes to partially phase out the Contract for Differences tariff for small projects, reducing the eligibility to very small projects. It’s extremely important they do this the right way. Retroactive changes undermine investor confidence. They need protection for existing investments and stability and visibility on support mechanisms.”

Source: cleantechnica.com

Oklahomans Overwhelmingly In Support Of 2 Gigawatt Wind Catcher Wind Farm

Photo-illustration: Pixabay
Photo-illustration: Pixabay

A new survey from SoonerPoll has revealed that Oklahomans are overwhelmingly in support of the 2 gigawatt Wind Catcher Energy Connection set to be developed Invenergy and GE Renewable Energy.

Announced back in July of 2017, the 2 gigawatt (GW) Wind Catcher wind farm is set to become the world’s second largest, and the United States’ largest onshore wind farm, once completed. It is being jointly developed by Invenergy and GE Renewable Energy with a $4.5 billion investment from American Electric Power. The project will consist of 800 GE 2.5 megawatt wind turbines and eventually link 1.1 million South Central US customers across a network with clean wind energy.

And, according to a new study conducted by SoonerPoll, Oklahoma’s only independent, non-partisan public opinion pollster, an overwhelming majority of 75.5% of Oklahomans support the project. Of that support, 45% “strongly supported” the project and 30.5% “somewhat supported” it.

The poll showed that support for Wind Catcher was spread broadly across all ages, geographical location, political parties and ideological viewpoints, and both men and women. Support also existed both inside and out of the Public Service of Oklahoma (PSO) service area which will primarily benefit from the renewable energy.

Further, the poll showed that 78% of Oklahomans support the development of more wind and other renewable energy sources across Oklahoma, a vitally important figure for Oklahoma’s renewable energy industry.

Source: cleantechnica.com

SmartestEnergy Inks PPA Agreement to Kickstart Construction on 10MW Wind Farm

Photo: Pixabay
Photo-illustration: Pixabay

Work has started on a new Scottish wind farm after energy firm SmartestEnergy agreed a power purchase agreement (PPA) with Whirlwind Renewables to buy the power from the project.

Under a 15-year deal announced yesterday, SmartestEnergy will buy electricity from the five-turbine, 10MW Achlachan project in Northern Scotland.

The deal allowed the site to reach financial close and start construction work, Whirlwind Renewables said, with commissioning scheduled for January 2019.

Achlachan was one of the only schemes to have been awarded a Contract for Difference (CfD) price support contract from the government before rule changes excluded onshore wind farms from participating in the auctions.

“We’re delighted that construction work has now started following financial close on the project,” Thomas Chappell, director at Whirlwind, said. “Achlachan is the biggest project we have taken forward entirely by ourselves and will make a valuable contribution towards Scotland and the UK’s renewable energy targets.”

Advocates of onshore wind maintain that it represents one of the lowest cost forms of power currently available. However, developers are struggling to bring new projects to market after the government controversially blocked onshore wind projects from competing with more expensive offshore wind projects for CfD contracts at auction.

Some industry insiders are hopeful that private sector PPAs with large power users could replicate CfDs in the future and allow “subsidy-free” onshore wind farms to come to market.

Source: businessgreen.com

The World’s First Floating Wind Farm has Already Exceeded Expectations

Foto: Pixabay
Photo-illustration: Pixabay

Hywind is the first commercial floating wind farm, located more than 15 miles off the coast of Aberdeenshire, Scotland in the North Sea. Built by Norwegian conglomerate Statoil, the six turbines came online last October, generating 30MW of power.

Since that time, the wind farm has exceeded expectations, with a 65 percent capacity factor over the last three months. As noted at Ars Technica, capacity factor is a measure of a power plant’s production against its maximum capability. Nuclear plants, for example, have a capacity factor of nearly 100% because they’re always running.

By comparison, according to the U.S. Energy Department, solar photovoltaic generation averaged 27 percent in 2017, with conventional hydropower such as dams averaging about 45 percent. It’s an encouraging development for the future of renewable energy.

The strong offshore winds produce a lot of electricity, but even the huge wind turbines have their limits. The wind farm weathered hurricane Ophelia in October, with gusts of up to 80 mph, followed by a December storm that produced winds as high as 100 mph and 27-foot-high waves.

“Whilst the wind turbines shut down for safety reasons during the worst of these winds, they automatically resumed operation promptly afterwards,” Statoil wrote in a post on its website. “A pitch motion controller is integrated with the Hywind turbine’s control system and will adjust the angle of the turbine blades during heavy winds which mitigates excessive motions of the structure.”

The turbines are massive floating structures, more than 830 feet tall with nearly a third of that below sea level. The blades themselves are more than 245 feet long.

Winds are stronger during the winter months, of course, so the capacity numbers don’t reflect the year-round output. Still, Hywind can power as many as 20,000 homes, and the company is hoping that innovation and technology will drive the price down even further. By 2030, the company wants to lower cost to $50 to $75 per MWh.

“This is an ambitious, but realistic target,” said a Statoil spokesperson. “Optimized design, larger and more efficient turbines, technology development, and larger wind parks will drive down costs, improve infrastructure and logistics.”

The company points out that fixed wind farms can only be built in certain locations close to shore, but their floating turbines aren’t restricted to shallow waters. “The west coast of the USA, Japan, and Hawaii are all places that need a lot of energy and that are consistently windy, but where the sea is very deep,” said engineer Halvor Hoen Hersleth. “Floating wind power is ideal for these areas.”

Source: digitaltrends.com

Kazakhstan to Add 2 GW of Renewables by 2020 – Report

Photo: Pixabay
Photo-illustration: Pixabay

Renewable energy facilities totalling 2 GW are set to be commissioned in Kazakhstan by end-2020, the Astana Times reports, citing energy minister Kanat Bozumbayev.

The capacity will come from about 52 of renewable energy projects that will add to the 55 already operational plants in the country with a combined capacity of 336 MW.

Bozumbayev was also quoted as saying that the renewable energy industry in the Asian country will be supported by around USD 244.2 million (EUR 198.5m) by the European Bank for Reconstruction and Development (EBRD). The lender will also aim to bring between EUR 40 million and EUR 80 million of private and international investment in the sector, he added.

According to the report, among the companies seeking development opportunities in Kazakhstan’s renewable energy field are US conglomerate General Electric (NYSE:GE) and the Development Bank of Kazakhstan (DBK). The Asian Republic’s long-term goal is to source from renewables and alternative energy plants 50% of its electricity consumption by 2050.

Source: renewablesnow.com

Goshen College Set for Campus Solar Energy Project

Photo: Pixabay
Photo-illustration: Pixabay

A Mennonite college in northern Indiana is planning to install more than 900 electricity-generating solar panels on its campus.

Goshen College says the solar panels will be placed atop the school’s Rec-Fitness Center. The 900-student college says it is undertaking the project with the College Mennonite Church, with which it shares the Church-Chapel building on campus.

Church member David Lapp Jost says the renewable energy project is a testament to the college’s values of environmental sustainability and stewardship. Planners anticipate the project’s power production will offset the chapel building’s electric bill

School officials expect the 924-panel solar array will be installed by the end of March.

Source: sanluisobispo.com

GE Announces World’s Most Powerful Offshore Wind Turbine, The Haliade-X

Foto: Pixabay
Photo-illustration: Pixabay

GE Renewable Energy has unveiled the world’s largest offshore wind turbine, the 12 megawatt Haliade-X which measures in at 260 meters in height and boasting a 220-meter rotor, and is capable of generating enough clean electricity for 16,000 households per turbine.

The mammoth turbine was announced on Thursday by GE Renewable Energy in France, and it represents an impressive glimpse into the future of offshore wind turbines, only a week or so after European wind energy trade body WindEurope highlighted the need for ever bigger and powerful turbines. The Haliade-X 12 MW will produce 45% more energy than any other offshore wind turbine currently available and will be capable of generating up to 67 gigawatt-hours (GWh) annually, enough renewable power for up to 16,000 European households.

And that’s per individual turbine.

The Haliade-X 12 MW will likely first appear in demonstration form in 2019 and begin shipping to wind farms as early as 2021. Boasting a height of 260 meters, which is five times the size of Paris’ iconic Arc de Triomphe, the turbine will come with 107-meter-long blades — the longest blades to date at a length greater than that of a soccer or football field.

The bigger wind turbines get, the more economical we can build offshore wind farms and the greater the size of those projects. Economies of scale works wonders for renewable energy development, and as was highlighted by WindEurope’s Giles Parkinson late last month, we need bigger turbines if we are to meet the necessary renewable energy targets to halt global warming in its tracks.

“The renewables industry took more than 20 years to install the first 17 GW of offshore wind,” said Jérôme Pécresse, President and CEO of GE Renewable Energy. “Today, the industry forecasts that it will install more than 90 GW over the next 12 years. This is being driven by lower cost of electricity from scale and technology. The Haliade-X shows GE’s commitment to the offshore wind segment and will set a new benchmark for cost of electricity, thus driving more offshore growth.”

“The Haliade-X 12 MW will help our customers in an increasingly competitive offshore environment, and through its size and digital functionality provide important value across manufacturing, installation and operation,” added John Lavelle, CEO of Offshore Wind at GE Renewable Energy.

Source: cleantechnica.com

Hong Kong Announces World’s Largest Sovereign Green Bonds Programme

Photo - illustration: Pixabay
Photo-illustration: Pixabay

Hong Kong has announced plans for a green bond programme with a borrowing ceiling of HKD100bn (US$12.8bn) as part of its budget for 2018/19, in a bid “to demonstrate the government’s commitment to promoting green finance”.

The scale of issuances surpasses that announced by the French government in 2016, making Hong Kong’s the largest sovereign green bond issuance programme in the world.

Announcing its new budget last week, the Hong Kong government said the sums borrowed would be credited to the Capital World Reserve Fund to provide funding for green public works programmes. It added that it aims to issue its inaugural green bond in 2018/19.

“The measure will encourage more issuers to arrange financing for their green projects through our capital markets,” the government said.

Having launched its green finance certification scheme last month, the government also said it planned to introduce a green bond grant scheme to subsidise qualified green bond issuers in using the certification scheme.

“We have seen rapid growth in the Asian bond market in recent years, with US$300bn worth of US dollar bonds issued in Asian economies other than Japan last year, 60 per cent more than 2016,” the Hong Kong government said in a statement. “We expect that the Asian bond markets will continue to expand. To encourage more investors and issuers from the Mainland, Asia and along the Belt and Road to participate in the Hong Kong bond market, the government plans to launch an array of measures to enhance our competitiveness, including attracting corporate bond issuance, facilitating investors’ participation and broadening investment platform.”

Sean Kidney, CEO at the Climate Bonds Initiative, welcomed the announcement as a “positive signal to regional and international financial markets”.

“We congratulate Hong Kong for this bold step on Sovereign Green Bonds,” he said in a statement.

However, Hong Kong-based environmental campaign group Green Sense voiced scepticism towards the green bonds programme, stating there was “no clear definition of ‘green public works projects’ and the public can never know what such projects are”.

It suggested this opened to door to funding some “quite controversial” projects.

“The environment is thus damaged, and the extent of lawmakers’ supervision over these projects is disproportionate,” a Green Sense statement said. “‘Green public works projects’ is likely an empty concept, and the funds might eventually be used for more ‘white elephant’ projects.”

The global green bond market is tipped to continue expanding, with S&P Global Ratings recently forecasting issuances will pass $200bn this year, while rival ratings agency Moody’s has put its estimate for 2018 closer to $250bn.

Source: businessgreen.com

Seaweed Sneakers Look Fly, Could Help Save the Environment

Photo: Aaron Nesser
Photo: Aaron Nesser

Would you wear sneakers made from kelp? What if they looked as stylish as any other shoe, and could help reduce the massive impact of the textile industry?

A new textile component called bioyarn could be behind your next environmentally friendly shoes, and seaweed is its secret. The material, developed by the startup Algiknit, is robust enough to be used in footwear, doesn’t dissolve in water, and can even by dyed.

AlgiKnit’s pitch is simple: it’s a bad idea to produce trainers that people might wear out in two years, but won’t biodegrade for decades or even centuries. They call this concept “just-in-time degradability.”

Photo: Aaron Nesser

The fashion industry is known to have a massive impact on the environment, and the materials used to make shoes are particularly troublesome. For example, raising cattle for their leather produces a high amount of greenhouse gas emissions, and current cotton methods are described by the World Wildlife Fund (WWF) as “environmentally unsustainable.” It takes 20,000 liters of water to produce enough cotton for a single t-shirt and a pair of jeans.

The recent trend of “fast fashion” is making things worse, with clothes being designed to be replaced quickly. Outdated outfits are rarely re-used: in the U.S. alone, 13 trillion tons of clothing end up in landfills every year, according to a report from Forbes.

AlgiKnit is taking the “if you can’t beat them, join them” approach. Its shoes AlgiKicks are designed so that they can be broken down by microorganisms, putting the nutrients they contain to good use – but the designers behind the project promise that they won’t start to degrade while you’re still wearing them.

Source: Futurism

World’s Largest Solar Park Launched in Karnataka

Photo-illustration: Pixabay
Photo-illustration: Pixabay

The world’s largest solar park set up at an investment of Rs 16,500 crore at Pavagada in Karnataka’s Tumakuru district was launched by Chief Minister Siddaramaiah today.

The 2,000 MW park, named as ‘Shakti Sthala’, spans across 13,000 acres spread over five villages and is a benchmark in the unique people’s participation in power model put on ground, according to officials.

The park’s development is anchored by the Karnataka Solar Power Development Corp. Ltd (KSPDCL), an entity formed in March 2015 as a joint venture between Karnataka Renewable Energy Development Ltd (KREDL) and Solar Energy Corp. of India (SECI).

The project has been executed within a record time of two years, with zero land acquisition, Siddaramaiah said.

Moreover, the farmers who have leased out their land are reaping greater benefits with Rs 21,000 per acre being offered as rental, an amount which has the scope to grow by five per cent every two years, he said. The beneficiaries of this project were 2,300 Pavagada farmers, he said.

The chief minister said Karnataka has emerged as the third largest producer of renewable energy in the nation and was taking “bold strides” towards emerging as an energy surplus state.

“We have set the goal to source at least 20 per cent of people’s power requirements from renewable projects,” he added.

The park will create employment and act as an incentive for natives and farmers to explore new opportunities of socio-economic growth in the region, state Energy Minister D K Shivakumar said.

“This ambitious project, spanning five villages, looks at farmers as the key partners, as also beneficiaries. Shakti Sthala is creating new job opportunities and economic growth leading to the prosperity of the people of Pavagada,” he said.

The state has witnessed an overall increase in capacity to 2,3379 MW as on January 2018, he said.

Shivakumar said 600 MW solar power generation has been commissioned during December 2017 and balance capacity of 1400 MW will be available by December this year.

Earlier, a 648-mw power project set up by the Adani Green Energy, part of the Adani Group, in Tamil Nadu in 2016 was billed as the world’s largest solar plant.

Source: economictimes.indiatimes.com