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EBRD and Erste Approve Financing for new Windfarm in Serbia

Foto-ilustracija: Pixabay
Photo-illustration: Pixabay (Pexels)

The European Bank for Reconstruction and Development (EBRD), together with Erste Group Bank AG and its local bank Erste Bank a.d. Novi Sad (Erste), have approved a financing package worth 91.4 million euros for the construction of a new windfarm in Serbia, which will be built by Enlight Renewable Energy (Enlight). The financing package will provide a major boost to the country’s goal of diversifying its energy mix.

The EBRD and Erste will provide parallel loans, worth 45.7 million euros each, including the associated debt service reserve facilities. Enlight’s local subsidiary will use the proceeds to develop, construct and operate the 94-megawatt (MW) windfarm, which has been originated by Enlight and New Energy Solutions (NES), and named in honour of Mihajlo Pupin, one of Serbia’s greatest scientists. The Pupin project is expected to begin operating commercially in the second half of 2025. It is an extension of the existing Kovacica (Blacksmith) windfarm in Vojvodina, which is also owned by Enlight and was financed by the same lenders in 2017.

Once commissioned, the Pupin windfarm will be able to supply clean, green electricity to more than 40,000 households, equivalent to the number of households in a medium-sized city like Zrenjanin. The windfarm will also help to reduce the carbon intensity of Serbia’s power sector and advance its green economy transition. Coal still dominates electricity production in Serbia and the financing package comes at a time when the country faces an urgent need to diversify away from fossil fuels to help address its long-term structural energy challenges.

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This project was financed under Serbia’s first renewable energy auction for wind capacity, which took place in 2023 and awarded contract-for-difference for 400 MW. A second and third auction, each for 300 MW of wind capacity, are expected to take place in 2024 and 2025, respectively. Similar auctions will be held in parallel for solar power plants. The scheme was developed and launched with technical and policy support from the EBRD and was funded by the Swiss State Secretariat for Economic Affairs (SECO). The scheme encourages the market integration of renewables, as developers receive support in line with market prices, as well as income from the sale of electricity.

“Serbia’s decision to move ahead with auctions is proving to be a game changer in terms of unlocking the country’s renewable energy potential. We are pleased to see Pupin being the first project to reach financial close and moving quickly through implementation, proving that speed of execution and best practice in terms of environmental and social standards can go together. We are committed to support Serbia’s second wind and solar auction later this year to continue accelerating the country’s green transition”, said Matteo Colangeli, EBRD Regional Director for the Western Balkans.

“Building the Pupin windfarm in close proximity to our existing Kovacica (Blacksmith) site represents a noteworthy implementation of our ‘Interconnection Expand’ strategy. We were able to leverage the technical knowledge and transmission infrastructure that was already in place at Kovacica, resulting in greater efficiency and higher returns for Pupin. In addition, we were fortunate to engage once again with our partners EBRD and Erste for financing of the Pupin project; these are the same lenders who supported us in the development of the Kovacica site”, commented Gilad Yavetz, CEO and co-founder of Enlight Renewable Energy.

Wolfgang Hargassner, Head of Corporate Finance at Erste Group, commented: “The financing of the first windfarm project under Serbia’s new renewable energy auction scheme marks a major step on the country’s path to green energy transition and we hope it will pave the way for other projects in the future. The realisation of the Pupin project is thanks to the great cooperation and unwavering commitment among all the parties involved, including investors, banks, advisers, the power off-taker, the turbine supplier, and many others.”

Photo-illustration: Pixabay (Oimheidi)

Enlight, develops, finances, constructs, owns, and operates utility-scale renewable energy projects, employing solar, wind and energy storage technologies. The company operates in the United States, Israel and 9 European countries, and is listed on NASDAQ (ENLT) and the Tel Aviv Stock Exchange (ENLT.TA)

Erste Group Bank AG is one of the leading financial services providers in central and eastern Europe, with more than 16 million customers and total assets worth more than 337 billion euros.

The EBRD is a leading institutional investor in Serbia. The Bank has invested 9 billion euros across over 350 projects in the country to date.

Source: EBRD

After Slight Rise In 2023, Methane Emissions From Fossil Fuels Are Set To Go Into Decline Soon

Foto-ilustracija: Pixabay
Photo-illustration: Pixabay (DragonDash)

Methane emissions from the energy sector remained near a record high in 2023 – but substantial policies and regulations announced in recent months, as well as fresh pledges stemming from the COP28 climate summit in Dubai, have the potential to put them into decline soon, according to new analysis from the International Energy Agency (IEA).

The IEA’s latest update of its Global Methane Tracker is the first comprehensive assessment of global methane emissions since the COP28 climate summit concluded in December. The new IEA analysis finds that the production and use of fossil fuels resulted in close to 120 million tonnes of methane emissions in 2023, a small rise compared with 2022. Another 10 million tonnes of methane emissions came from bioenergy, mostly from the traditional use of biomass for activities such as cooking.

According to the report, the top 10 emitting countries were responsible for around 80 million tonnes of methane emissions from fossil fuels in 2023, two-thirds of the global total. The United States – the largest global producer of oil and gas – is also the largest emitter from oil and gas operations, closely followed by Russia. China is by far the highest emitter in the coal sector.

Satellites continue to bring the world’s understanding of methane emissions and their sources into sharper focus. The report, which incorporates their readings along with data from other science-based measurement campaigns, notes that satellites identified a substantial increase in major fossil fuel leaks in 2023 compared with 2022, with more than 5 million tonnes of emissions detected – including from a well blowout in Kazakhstan that went on for more than 200 days.

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Global methane emissions remain far too high to meet international climate targets. To limit global warming to 1.5 °C, a key goal of the Paris Agreement, methane emissions from fossil fuels need to decline by 75 percent this decade, according to IEA analysis.

Photo-illustration: Pixabay

“A 75 percent cut in methane emissions from fossil fuels by 2030 is imperative to stop the planet from warming to a dangerous level. I am encouraged by the momentum we’ve seen in recent months, which our analysis shows could make an enormous and immediate difference in the world’s fight against climate change,” IEA Executive Director Fatih Birol said. “Now, we must focus on transforming commitments into action – while continuing to aim higher. Well known policies and existing technologies could reduce methane emissions from fossil fuels substantially. The IEA stands ready to help the energy sector meet its goals by deploying these measures, and we will continue to monitor progress – a key part of our wider efforts to ensure countries deliver on the energy promises they made at COP28.”

Efforts to cut methane emissions are expected to accelerate in 2024 and beyond, with COP28 ushering in a step-change in ambition. Nearly 200 governments agreed in Dubai to “substantially” reduce methane emissions by 2030, while significant regulatory initiatives were announced by Canada, the European Union and the United States around the time of the summit. New companies have also committed to action through the launch of the Oil and Gas Decarbonisation Charter, and more countries are joining the Global Methane Pledge – including, most recently, Azerbaijan, which will host COP29.

If all methane pledges made by countries and companies to date are implemented in full and on time, it would be sufficient to cut methane emissions from fossil fuels by 50 percent by 2030, the IEA’s new analysis finds. However, most pledges are not yet backed up by plans for implementation.

Methane is responsible for almost a third of the rise in global temperatures since the Industrial Revolution, and the energy sector – including oil, natural gas, coal and bioenergy – is the second-largest source of methane emissions from human activity. While methane in the atmosphere dissipates faster than carbon dioxide, it is a much more powerful greenhouse gas during its short lifespan. As a result, driving down methane emissions is one of the best ways to limit global warming and improve air quality in the near term.

Photo-Ilustration: Pixabay (catmoz)

It is also extremely cost-effective. According to the IEA’s new analysis, around 40 percent of methane emissions from fossil fuel operations in 2023 could have been avoided at no net cost, since the value of the captured methane was higher than the cost of the abatement measure. Reducing methane emissions from fossil fuels by 75 percent by 2030 would require about USD 170 billion in spending – less than 5 percent of the income generated by the fossil fuel industry in 2023.

Meanwhile, a growing number of state-of-the-art satellites monitoring methane leaks, such as the Environmental Defense Fund’s recently launched MethaneSAT, is making it easier to identify and address them. These satellites are also filling in gaps and uncertainties that remain in the data by providing timely information that may otherwise be left out of disclosures.

Currently, methane emissions implied by existing oil and gas company reporting are 95 percent lower than the IEA’s estimate for 2023, while emissions levels reported by countries are about 50 percent lower. All data informing the analysis in the latest Global Methane Tracker can be accessed for free here. An open-access model that can be used to explore methane abatement options for oil and gas operations will also be released soon.

Source: IEA

Green Planet between Dystopia and Utopia

Photo-illustration: Freepik (atlascompany)
Photo-illustration: Plastic ocean photo created by jcomp – www.freepik.com

That day, at the front door of my building, I was intercepted by an upset neighbor with the announcement that “The lift is not working again!” I noticed that my neighbor was nervously crumpling a piece of foil while listing everyone responsible for this unfortunate event. When we finally parted, he threw the wrapper in front of the door.

He cited “Everything is dirty anyway, even the cleaning lady doesn’t do her job properly” as the reason for not looking for the rubbish can.

Indeed, the environmental pollution I just witnessed will not lead to an ecological disaster, but it has worsened the situation by a very small percentage. When these small percentages add up, we get large-scale environmental consequences that could have been prevented if we had acted conscientiously.

What if the situation was reversed? Yes, instead of allowing ourselves to be irresponsible towards the environment with the excuse, “It’s just a small chocolate wrapper, no big deal”, we all start to save our environment with small but meaningful contributions.

This is precisely the idea behind protopia, a relatively new social concept that suggests gradually making significant changes in the world through small but important steps.

Monika Bielskyte, futurist and founder of the research platform Protopian Futures, explained in her presentation, available on the YouTube channel Google Design, what the term protopia means.

According to her, the term was coined by Kevin Kelly, a famous futurist and editor of Wired magazine. The word protopia comes from the word pronoia, which means the opposite of paranoia – instead of believing that the whole world is against us, pronoia, or protopia, assures us that the entire world is on our side.

Protopia could be characterized as a type of movement that is an alternative to the existing concepts of dystopia and utopia, offering an optimistic vision of the future.

While dystopia and utopia are hypothetical social extremes that are the subject of numerous science fiction creations, protopia is much closer to reality. Moreover, Bielskyte argues that many people already live according to the principles of protopia by making modest contributions toward a better future.

Instead of dreaming about unattainable utopia or fearing dystopia, protopia prompts us to envisage the future we wish to see by building it now.

Photo-illustration: Freepik (jcomp)

As there is no bright future without a healthy environment, it is easy to see why the idea of protopia is associated with the concept of ecology.

The current state of the environment seems hopeless. People stop being environmentally motivated when they realize that the air and water are still worryingly polluted despite driving electric cars and using environmentally friendly detergents.

Protopia advocates claim that these small contributions to environmental protection will prevent the worst climate scenarios and that every tree planted, every solar panel installed, and every electric car produced leads to a greener future.

Instead of reading helplessly about plastic waste and forest fires, protopia prompts us to be creative and contribute in every possible way to protecting natural resources. This eliminates the feeling of helplessness and puts us in the role of active fighters against climate change who have taken the planet’s future into their own hands.

Of course, not everyone can install solar panels on their roofs or drive the latest electric SUV, but there are always recycling, cleaning public areas of rubbish, and many other solutions that we can easily and freely implement.

Although the media has not sufficiently covered this topic, the basic idea is that every contribution, even the smallest one, toward a better world is essential. Instead of praying for a miracle that will instantly remove all our troubles, let’s ask ourselves, “What can I do right now to create a better world?”

Milena Maglovski

Old Mines Can Be Used for Energy Storage

Photo-illustration: Unsplash (Dion Beetson)
Photo-illustration: Unsplash (Dan Meyers)

In addition to renewable energy production facilities being built left and right, the energy transition we are striving for also requires the construction of energy storage facilities since the efficiency of renewable sources, such as solar and wind farms, is susceptible to weather conditions.

Reversible hydropower plants are one of the ways to achieve efficient storage of green energy and, thus, energy stability.

They work by pumping water into the upper reservoir when there is an excess of electricity from renewable sources in the power grid. When necessary, they run turbines by releasing water from the upper reservoir into the lower reservoir, thus producing green kilowatts.

More reversible hydropower plants around the world will enable a more stable transition to clean energy. Researchers from the National University in Australia indicate that abandoned mines could be used for the construction of such hydropower plants.

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According to the Science Direct journal, scientists located 904 mining areas in 77 countries around the world that can be used for the construction of reversible hydropower plants.

Research results indicate that hydro plants built on tailings, pits and lakes of former mines could store as much as 30TWh per year.

According to researchers, mines are mostly equipped with water pumps, roads, power distribution grids, and other infrastructure, which greatly facilitates the construction of such hydropower plants and reduces their negative environmental impact. One such hydropower plant will be built by the end of 2024 in Queensland, Australia, and its pump storage capacity will be 2,000MWh.

Milena Maglovski

Germany is Closing its Coal-Fired Power Plants

Photo-illustration: Pixabay
Photo-illustration: Pixabay (ustalij_pony)

A complex story about the energy transition and the challenges that the global geopolitical situation brings with it is unfolding in a country that strives to be a leader in the fight against climate change outside of the European continent, too.

As a result of these circumstances, Germany changed its energy strategy. Until recently, the country had several thermal power plants that continued operating even after the planned closure, which allowed the country to cope with the lack of other energy sources, primarily natural gas.

The decision to temporarily reopen these plants is part of a broader effort to ensure sufficient electricity supply during the winter, even as the country looks to move away from coal. However, as the cold days passed, the decision was made to close seven lignite-fired power plants in the Rhine mining area and Brandenburg, as well as an additional eight medium and smaller coal-fired thermal power plants with a total capacity of 1.3 gigawatts, according to the DPA website.

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The German government aims to abolish coal use by 2038, with the possibility of extending the deadline until 2030. This target is closely linked to the overall global effort to limit global temperature rise to 1.5°C.

Germany has been trying to become less dependent on fossil fuels for many years. German Economy Minister Robert Habeck points out that the country has managed to increase its energy independence and security of supply despite several coal-fired power plants closing down.

Germany’s progress in this area shows how coal-fired power plants, which were part of the power grid as a precaution during the last two years of the energy crisis, are now redundant. This was made possible thanks to the drop in electricity and gas prices, as well as the expansion of renewable energy sources, which now account for a larger share of electricity production in the country.

Energy Portal

Eager Beavers in the Service of Protecting  the Planet

Photo: Courtesy of Jasmina Lazić and Slobodan Branković

Finding the good in bad life circumstances was clearly shown during the coronavirus pandemic when people became closer and nature started recovering. The story of Jasmina Lazić and Slobodan Branković, self-confessed travelphiles, adventurers and creatives filled with love and love for nature, united these two good things that emerged from the pandemic.

Imbued with a different vision of decorating the living space, they have always been looking for slightly more unusual and practical pieces of furniture and decoration. Although the pandemic has limited certain common habits, it has also created opportunities to create new ones.

These young people dedicated their free time, which they had more during the isolation, to designing unique objects and playing with the materials at hand.

The lack of large-scale machines, tools and adequate workspace was a challenge that they easily overcame with patience, resourcefulness and the support of relatives and friends.

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They started the whole story (called Vredni Dabar/Eager Beaver) in the dining room of their apartment, which they later improved by acquiring more professional tools and renting an old carpentry workshop where they still create to this day. Finding adequate materials, which they use various means to procure, remains the biggest problem.

The people in their surroundings know where they can take something they no longer need, and if Jasmina and Slobodan assess that they can give those items a new lease of life, they are always happy to accept them.

Although many people don’t think of flea markets as places that sell worthless things, this young married couple knows the importance of preserving nature. Their contribution to this noble cause is reusing old items, which is why, along with their desire and creativity, a flea market becomes a very inspiring place to obtain the needed materials.

No object must be wasted if we don’t view it as waste. Jasmina and Slobodan are living proof of this as they don’t hesitate to take  old cabinets, boards, crates, or pallets from the street rubbish containers and thus give them a new lease on life. Through their work, they realized that their purpose is to encourage and develop environmental awareness among people by bringing the idea of reusing various materials closer to them through their story and inspiring them to contribute to a cleaner and more beautiful planet.

They often organize campaigns to collect various materials and announce them on their Instagram profile. Customers who donate recycled material will get a discount on the duo’s products.

Prepared by: Katarina Vuinac

Read the full story in the new issue of the Energy portal Magazine RESPONSIBLE BUSINESS

The Future of Heat Pumps in China

Photo-illustration: Pixabay
Photo-illustration: Unsplash (albert-hyseni)

Heating accounts for almost 20 per cent of energy use in industry and buildings globally, and about one-quarter of energy-sector emissions. China’s buildings and industry sectors account for about one-third of global heat consumption and therefore have a major influence on global trends. Heat consumption in buildings has grown faster in China than in any other country over the past decade, making China the second-largest market for space and water heating in buildings today, just behind the United States, with an energy demand for both these uses of around 12 EJ. This trend shows no sign of slowing down as uptake of heating equipment in China continues to increase. In Chinese industries, heat consumption grew by 13 per cent between 2010 and 2022, reaching 38 EJ. Nearly 20 per cent is accounted for by low- and medium-temperature heat, below 200 °C, which is the most suitable range for heat pump applications. Consumption of heat below 200 °C grew by 7 per cent over the same period, and its share in overall demand will increase as China shifts to higher value-added industries.

Today, heating provision in China is heavily reliant on coal. The direct use of coal for heat supply accounts for around half of final energy use for heating in buildings and industry. If coal used in district heating and to generate electricity for heating in buildings and industry is included, heat provision is responsible for 40 per cent of national CO2 emissions and coal use in China. However, this share has fallen by more than 5 per cent over the past decade, thanks to policies to improve air quality, reduce CO2 emissions and maximise energy efficiency.

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Heat pumps offer a proven solution for decarbonising low- and medium-temperature heating

Heat pump sales are seeing unprecedented momentum worldwide. Global heat pump sales have increased by almost 30 per cent since 2020, although there was a 3 per cent decline in 2023. China – currently the world’s largest market for heat pumps for buildings – accounts for more than one-quarter of global sales, and in 2023 China was the only major market where heat pump sales grew, by a robust 12 per cent. Heat pumps that are already on the market in China offer one of the most efficient options for decarbonising heat in district heating networks, buildings and industry. Heat pumps accounted for 8 per cent of heating equipment sales for buildings in China in 2022, and they are already the norm in new and existing buildings in some areas of central and southern China, where they are used for heating and cooling. The use of heat pumps for domestic hot water production is emerging, primarily in urban areas and commercial buildings, but the water heating market is still dominated by conventional electric heaters and gas boilers. Heat pumps consume on average three to five times less energy than electric heaters or fossil fuel-based solutions, though use in industry and district heating is still uncommon, in part due to low awareness and upfront costs.

Purchasing a heat pump typically pays off in the long run compared with other solutions, but high upfront costs remain a barrier. In China, air-to-air heat pumps are already the most cost-competitive heating option over their lifetime in some colder climates, and in cities with hot summers and cold winters, where they meet both heating and cooling needs. Air-to-water heat pumps, meanwhile, offer lifetime savings when compared to electric heaters, which cost less upfront but have low efficiencies. In contrast, air-to-water heat pumps are more expensive than gas boilers and only offer savings over their lifetime in areas with a competitive electricity-to-gas price ratio. The upfront costs for industrial heat pumps are over six times higher than for gas boilers, but over their lifetimes they are already far cheaper than gas and electric boilers, and nearly cost-competitive with coal boilers, thanks to their high efficiency.

Read the full text here.

Source: IEA

K2 WALLPV – THE SYSTEM SOLUTION FOR SOLAR PROJECTS ON BUILDING FACADES

Photo-illustration: Pixabay (andreas160578)
Photo: K2 Systems

The new mounting systems from K2 add another dimension to the areas that can be used to generate energy. This is because they allow systematic and therefore fast PV installation on facades.

Most of the parts required for this are already well known, as the K2 development team has realised a clever modular system with only a few new elements. The K2 WallPV systems consist of a few tried-and-tested roof components and a few newly developed products.

The K2 WallPV systems can be used on a variety of façade claddings and are available in three versions:

K2 WallPV FacadeRail: The K2 WallPV FacadeRail offers a first-class solution for facades made of solid masonry or concrete, as well as those in combination with rainscreen cladding and external thermal insulation composite systems (ETICS). The versatility of this system is particularly evident in its ability to be connected to the most common façade brackets.

K2 WallPV CarrierRail: The K2 WallPV CarrierRail offers a solution for installation on facades, particularly on large commercial buildings fitted with FischerTHERM Carrier® and MONTANATHERM sandwich panels. This innovative installation solution is not only approved by the building authorities, but is also characterised by its high installation speed.

K2 WallPV MultiRail: The K2 WallPV MultiRail offers a versatile solution for installation on facades with trapezoidal sheet metal or corrugated sheet metal. This proven mounting solution utilises building authority approved thin sheet metal screws to ensure secure and reliable fixing.

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Photo: K2 Systems

The InsertionRail insertion rails of the K2 WallPV MultiRail allow this system to be scaled up enormously in professional commercial construction. For smaller installations in workshops or mixed-use buildings, the K2 WallPV MultiRail also offers the flexibility and efficiency of the FacadeClamp module clamps.

The highlights:

Scalable modular components enable large-scale PV systems for sustainable energy generation, taking us a big step forward in the energy transition. What makes vertical PV systems even more attractive is that they have lower operating temperatures. And snow, leaves and rainwater do not remain on the modules. In addition, the yield can be even higher than with horizontally aligned PV systems due to the low position of the sun in winter.

So there are many good reasons in favour of these cleverly designed facade systems!

Source: K2 Systems

Scientists Have Created Flexible and Waterproof Solar Cells

Photo-illustration: Pixabay (Bru-nO)
Photo-illustration: Pixabay (Michael_Pointner)

The sun is an inexhaustible energy source that has long inspired scientists to improve the technology of solar cells so that they can be used as widely as possible.

Recently, we wrote about floating solar power plants and transparent solar panels that we will use instead of windows. Still, scientists are now occupied with the idea of solar cells woven into the wardrobe.

In collaboration with researchers from the University of Tokyo and Huazhong University of Science and Technology in China, researchers from Japan’s National Research and Development Agency RIKEN have developed a photovoltaic film that is both waterproof and flexible. This film enables the fusion of solar technology and clothing production. In this way, we will be able to power small wearable devices without the use of batteries, such as medical devices or smart watches, RIKEN announced.

As stated in the scientific paper published in Nature Communications, the goal of the research was to find solar cells that function properly even when they get wet in the rain and after washing.

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However, it has been difficult to achieve waterproofing of solar cells without using additional protective layers of the photovoltaic film, which reduces flexibility.

Photovoltaic films are usually made of several layers. Still, this time, the researchers applied a thermal annealing process, exposing the film to 85 degrees Celsius for 24 hours. The result was a photovoltaic film with a thickness of only three micrometers, the aforementioned press release reads.

The first tests of the new photovoltaic film gave encouraging results. After the researchers submerged it in water for four hours, the solar cells retained 89 per cent of their initial performance, and when they subjected it to a 30 per cent stretch, the film was still 96 per cent functional.

The new solar cells “survived” even a washing machine cycle, which has never been achieved before, the researchers proudly point out.

Energy portal

ABB launches new share buyback program of up to 1 billion dollars

Photo: ABB
Photo-illustration: Pixabay

ABB will launch its previously announced new share buyback program of up to 1 billion dollars. Based on the current ABB share price this represents a maximum of approximately 21.3 million shares. The maximum number of shares that may be repurchased under this new program on any given trading day is 692,486.

This new program is consistent with ABB’s capital allocation principles targeting to maintain a strong investment grade rating. Since July 2020, ABB has repurchased about 308 million shares for capital reduction purposes for a total amount of approximately 9.4 billion dollars.

The total number of ABB’s issued shares is 1,882,002,575. This includes 21,387,687 shares that were repurchased under the 2023–2024 share buyback program and are expected to be cancelled in Q2 2024. ABB will use the capital band approved at its Annual General Meeting 2023 for cancellation of these shares. ABB currently owns approximately 30 million treasury shares.

The new share buyback program is for capital reduction purposes and will be executed on a second trading line on the SIX Swiss Exchange (Valor: 35.767.961; ISIN: CH035 767 961 9). It is planned to run from April 2, 2024, until January 31, 2025, following a decision to adjust the timing of its share buyback cycle to align with the announcement of its Q4 2024 results and 2024 dividend proposal.

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The new share buyback program will be managed by a bank mandated by ABB that, based on trading parameters received from ABB, will make its trading decisions concerning the timing of share repurchases independently of ABB. ABB can change these parameters outside of its closed periods and if it is not in possession of any inside information.

The purchase price per share will not exceed the higher of the price of the last independent trade on the ordinary trading line on the SIX Swiss Exchange and the highest current independent bid price on the ordinary trading line on the SIX Swiss Exchange. In addition, customary spreads on purchases on the second trading line on the SIX Swiss Exchange will be paid, observing the limitations of the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO). Payment for the shares will be made in cash.

The buyback program is being carried out in accordance with the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO), the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052. Weekly updates on the program will be published on ABB’s investor relations website available here and issued by press release.

Source: ABB

UNESCO Names 18 New Geoparks

Photo-illustration: Pixabay
Photo-illustration: Pixabay

UNESCO’s Executive Board has endorsed the addition of 18 sites to the UNESCO Global Geoparks network. This brings the total number of geoparks to 213 in 48 countries.

The new geoparks are situated in Brazil, China, Croatia, Denmark, Finland, France, Greece, Hungary, Poland, Portugal and Spain. There is an additional new transboundary geopark spanning Belgium and the Kingdom of the Netherlands.

The UNESCO Global Geopark designation was created in 2015. It recognizes geological heritage of international significance.

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Geoparks serve local communities by combining the conservation of their significant geological heritage with public outreach and a sustainable approach to development.

UNESCO continues to promote the geopark concept in regions where geoparks are less common, notably in Africa, the Arab States and Small Island Developing States. UNESCO does this by facilitating expert missions, tailored training sessions and individual consultations on both a national and local scale, to guide the preparation of applications for UNESCO Global Geopark status.

Read the whole article HERE.

Source: UNESCO

Record Growth in Renewables, but Progress Needs to be Equitable

Photo-illustration: Unsplash (NIcholas Doherty)
Photo-illustration: Unsplash (Mark Merner)

Renewable Capacity Statistics 2024 released by the International Renewable Energy Agency (IRENA) today shows that 2023 set a new record in renewables deployment in the power sector by reaching a total capacity of 3,870 Gigawatts (GW) globally.

Renewables accounted for 86 percent of capacity additions; however, this growth is unevenly distributed across the world, indicating a trend far from the tripling renewable power target by 2030.

The 473 GW of renewables expansion was led once again by Asia with a 69 percent share (326 GW). This growth was driven by China, whose capacity increased by 63 percent, reaching 297.6 GW. This reflects a glaring gap with other regions, leaving a vast majority of developing countries behind, despite massive economic and development needs. Even though Africa has seen some growth, it paled in comparison with an increase of 4.6 percent, reaching a total capacity of 62 GW.

IRENA Director-General, Francesco La Camera said, “This extraordinary surge in renewable generation capacity shows that renewables are the only technology available to rapidly scale up the energy transition aligned with the goals of the Paris Agreement. Nevertheless, the data also serves as a telltale sign that progress is not moving fast enough to add the required 7.2 TW of renewable power within the next seven years, in accordance with IRENA’s World Energy Transitions Outlook 1.5°C Scenario.”

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Policy interventions and a global course-correction are urgently needed to effectively overcome structural barriers and create local value in emerging market and developing economies, many of which are still left behind in this progress. The patterns of concentration in both geography and technology threaten to intensify the decarbonisation divide and pose a significant risk to achieving the tripling target.

For China, solar and wind’s increasing competitiveness against coal and gas power generation became the key driver of renewable power development. Meanwhile in the EU, enhanced policy focus and heightened energy security concerns have become the main catalysts for the rapid growth, apart from the increasing cost-competitiveness of renewables against fossil fuel alternatives.

Photo-illustration: Unsplash (Thomas Richter)

Other regions that saw significant expansion were the Middle East at 16.6 percent increase and Oceania at 9.4 percent increase. The G7 countries as a group increased by 7.6 percent, adding 69.4 GW last year. The G20 nations on the other hand increased their capacity by 15.0 percent, reaching 3084 GW by 2023. However, for the world to reach over 11 TW for the tripling target requires the G20 members alone to reach 9.4 TW of renewable power capacity by 2030.

With solar energy continuing to dominate renewable generation capacity expansion, the report underscores that the growth disparity did not only affect geographical distribution but also the deployment of technologies. Solar accounted for 73 percent of the renewable growth last year, reaching 1,419 GW, followed by wind power with 24 percent share of renewable expansion.

IRENA’s 1.5°C Scenario recommends a massive scaling up of financing and strong international collaboration to speed up the energy transition, putting developing countries as key priority. Investments are needed in power grids, generation, flexibility and storage. The pathway towards tripled renewable power capacity by 2030 requires a strengthening of institutions, policies and skills.

Source: IRENA

New Schneider Electric Hub: Ingrid Building in Novi Sad Sets Benchmark for Sustainable and Innovative Work Environment

Photo: Schneider Electric
Photo: Schneider Electric

Schneider Electric, present in Serbia and Montenegro for more than two decades, stands out by the placement of advanced solutions for energy efficiency, digitalization and automation, as well as by the impressive Schneider Electric Hub in Serbia.

This software development hub, located in Novi Sad, gathers more than 1,000 engineers, who shape digital solutions in the areas of energy and automation for the global market by applying the leading global technologies.

The unique InGrid building, opened this June, represents Schneider Electric’s visionary venture. Transformation of the former Novkabel production facility into a modern office building reflects commitment to sustainability principles. This carbon-neutral building, which is to receive a LEED GOLD certificate by the end of the year, uses power from renewable sources only.

The building is powered by its own solar energy production, with 1,500 square metres of solar panels on the roof and the remaining energy supplied from a green certificate power purchase.

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Net space of the InGrid facility covers 14,500 square metres, including an impressive set of rooms such as a data centre, amphitheatre, atriums with greenery, kitchens, conference rooms, training rooms, a gym, and 350 parking spaces with ten power chargers for electric vehicles.

The workspace in the InGrid building is designed in line with the activity-based workspace model, facilitating creativity, productivity and comfort.

Photo: Schneider Electric

The InGrid building is managed by Schneider Electric’s Ecostruxure Building Operations platform, enabling centralised management for maximum efficiency, comfort and productivity. The Planon Workplace Insights Edition, a modular cloud-based software solution, additionally provides information on a space usage rate and the work environment conditions. In the coming period, the software will be supported by smart presence sensors and sensors monitoring other environmental parameters. The software provides comfort for the building users by monitoring temperature, humidity, light, noise, hazardous evaporable organic compounds and radon levels.

Implementation of such solutions helps the company achieve the most efficient space usage and ensure a safe, healthy and sustainable environment for all. The software also provides data on space usage, workplace conditions, space booking, etc.

Schneider Electric, the global leader in the areas of sustainability and green energy, applies sustainable solutions in its own operations, as well as contributes to the improvement of the industry, infrastructure, and construction sector worldwide through training and partnerships. The InGrid building in Novi Sad represents another step towards a sustainable future, setting a benchmark for a work environment combining innovation, efficiency and comfort.

Schneider Electric

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Eight ways to overcome the waste pollution crisis

Photo-illustration: Freepik (jcomp)
Photo-illustration: Unsplash (Antoine GIRET)

Humanity generates between 2.1 billion and 2.3 billion tonnes of municipal solid waste a year.

When improperly managed, much of that refuse—from food and plastics to electronics and textiles — emits greenhouse gases or poisonous chemicals. This damages ecosystems, inflicts disease and threatens economic prosperity, disproportionately harming women and youth.

On March 30th, the world celebrates the International Day of Zero Waste. The observance, led by the United Nations Environment Programme (UNEP) and the UN Human Settlements Programme (UN-Habitat), highlights the importance of proper waste management. It also focuses on ways to rein in the conspicuous consumption that is feeding the waste crisis.

“Overconsumption is killing us. Humanity needs an intervention,” says UN Secretary-General António Guterres. “On this Zero Waste Day, let’s pledge to end the destructive cycle of waste, once and for all.”

Here are eight ways to embrace a zero waste approach:

  1. Combat food waste

Some 19 per cent of food available to consumers is wasted annually despite 783 million people going hungry. Around 8 to 10 per cent of the planet’s greenhouse gas emissions come from the production of food that is ultimately squandered.

There are lots of ways to turn that tide. Municipalities can promote urban agriculture and use food waste in animal husbandry, farming, green-space maintenance and more. They can also fund food waste composting schemes, segregate food waste at source and ban food from dumpsites. Meanwhile, consumers can buy only what they need, embrace less appealing but perfectly edible fruits and vegetables, store food more wisely, use up leftovers, compost food scraps instead of throwing them away, and donate food before it goes bad, something made easier by a bevy of apps.

Recovery is already on the menu in some places. In Vallès Occidental, Spain, municipalities are redistributing surplus healthy food to the marginalized. Meanwhile, in Nigeria, the non-profit organization No Hunger Food Bank works with the Adeta indigenous community to reduce post-harvest losses by recycling cassava peels into animal feed.

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  1. Take on textile waste
Foto: Unsplash (Becca McHaffie)

Less than one per cent of the material used to produce clothing is recycled into new items, resulting in over 100 billion US dollars in annual material value loss. The textiles industry also uses the equivalent of 86 million Olympic-sized swimming pools of water every year.

To counter that, the fashion industry needs to become more circular. Brands and retailers can offer more circular business models and products that last longer and can be remade, governments can provide infrastructure for collecting and sorting used textiles, communicators—including influencers and brand managers—can shift fashion’s marketing narrative, and consumers can assess if their clothing purchases are necessary.

“Zero waste makes sense on every level,” says Michal Mlynár, UN-Habitat Acting Executive Director. “By retaining materials within the economy and enhancing waste management practices, we bring benefits to our economies, our societies, our planet and ourselves.”

  1. Avoid electronic waste

Electronics, from computers to phones, are clogging dumpsites around the world as manufacturers continually encourage consumers to purchase brand-new devices.

Through robust policymaking, governments can encourage consumers to keep their products for longer while pushing manufacturers to offer repair services, a change that would bring a host of economic benefits. They can also implement extended producer responsibility, a policy that can ensure producers of material goods are responsible for the management and treatment of waste. This can keep raw materials and goods in the economic cycle and inspire consumer waste prevention, eco-design, and optimization of waste collection.

“As the world drowns in waste, humanity must act,” says Sheila Aggarwal-Khan, Director of UNEP’s Industry and Economy Division. “We have the solutions to solve the waste pollution crisis. We just need commitment, collaboration and investment from governments, businesses and individuals to implement them.”

  1. Reduce resource use in products

Raw material use has more than tripled over the last 50 years, driving the destruction of natural spaces and fueling the triple planetary crisis of climate change, nature and biodiversity loss, and pollution and waste.

Producers can follow nationally determined eco-design standards to reduce energy and resource use while minimizing hazardous chemicals in production. These standards also ensure products are durable, repairable and recyclable while use.

This should be part of a larger effort to design products through what is known as the lifecycle approach. This entails reducing resource use and emissions to the environment throughout all stages of a product’s life, from production to recycling.

  1. Crack down on plastic pollution
Photo-illustration: Pixabay (VIVIANE6276)

Plastics are commonly used in electronics, textiles and single-use products. Some 85 per cent of single-use plastic bottles, containers and packaging end up in landfills or are mismanaged. Because plastic does not biodegrade, it contributes to major health impacts as microplastics infiltrate food and water sources.

In addition to phasing out single-use plastics and improving waste management, establishing a global monitoring and reporting system can help end plastic pollution.

  1. Take on hazardous waste

Chemicals are prevalent in daily life – electronics can contain mercury, cosmetics may have lead and cleaning supplies often have persistent organic pollutants. Chemical and hazardous waste require specialized treatment and disposal, yet some governments fail to meet standards set in the Basel, Rotterdam and Stockholm (BRS) conventions. Hazardous chemicals and waste cross borders, unauthorized or even illegally.

Governments can commit to multilateral environmental agreements (MEAs), like the BRS conventions, which institutionalize intergovernmental and cross-sectoral cooperation through binding targets and action plans.

Citizens can educate themselves about substances and waste types that are restricted or banned under the MEAs and demand that governments and industries remove them from the global market.

  1. Rethink how cities are designed and managed

By 2050, 68 per cent of the world is expected to live in cities. Investing in energy-efficient buildings leads to long-term reductions in construction and demolition, which generate significant amounts of waste and account for 37 per cent of greenhouse gas emissions.

UN-Habitat’s Waste Wise Cities and African Clean Cities Platform provide data and monitoring, knowledge, advocacy and bankable project development to shift cities towards zero waste. Many mayors, like 2023 UN Champion of the Earth Josefina Belmonte of Quezon City, Philippines, are leading initiatives to crack down on waste, including from food and plastics.

  1. Bolster waste management through investment and training
Foto-ilustracija: Unsplash (Jasmin Sessler)

Globally, around 25 per cent of waste is left uncollected, while 39 per cent is not managed in controlled facilities. Global waste management incurs a total net cost of 361 billion US dollars annually. By ending uncontrolled disposal, reducing waste generation, and increasing recycling, governments can generate an annual net gain of 108.1 billion US dollars by 2050.

The One Planet network—a global community of practitioners, policymakers, and experts—can help drive this shift by fostering collaboration. It also has a database of the best resources on sustainability.

A one-year project in Ambon, Indonesia, between social enterprise groups and local governments provided training and job opportunities to local waste collectors and financed improved waste management facilities.

By recovering materials, redesigning products, bolstering waste management and prioritizing reuse, humanity can embrace a zero waste approach for a more sustainable future.

Source: UNEP

Green Kilowatts For Nova Crnja

Photo: Pixabay
Photo: CEEFOR

The path we need to take, which leads us to a more sustainable and secure future, must be paved with renewable energy sources.

Summing up the year 2023, one of the most important lessons learned by almost all countries is the necessity of switching to green energy, both because of climate change, the consequences of which are felt more and more intensely, and because of energy security and stability, which has proven to be very fragile in terms of previous methods of energy production and supply.

Responsible companies in Serbia have taken seriously the importance of solving this problem, which is why it is necessary to use our country’s solar potential in the best possible way. In achieving the set goal that is at the end of the road we set out on, the CEEFOR Company provides know-how and support.

Many years of experience related to sustainable development and energy efficiency, as well as consulting and design services in the field of renewable energy sources, have built trust in CEEFOR’s engineers, who are entrusted with numerous projects that entail the construction of solar power plants, both on roofs and on the ground.

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Vojvodina will soon receive another solar power plant, as the construction of the B2 Sun Spot – 10MW solar power plant has begun in the municipality of Nova Crnja. The building permit for the construction of this solar power plant has been obtained, construction has begun and the solar plant is expected to be commissioned in the first quarter of 2024.

This solar power plant spans about 13 hectares of land and will have 17,740 bifacial solar panels of the Canadian Solar 660 brand. CEEFOR has gained recognition as a company that can be trusted, among other things, by continuously selecting the top quality products. That is why the company chose to use 100 Fronius Tauro inverters – ECO-100-3-P, with 100kW power, for this power plant. The Turkish manufacturer Kirac Metal has provided the structure for the plant which will have nine transformers.

Photo-illustration: Pixabay (mrganso)

All energy that this solar power plant generates will be transferred to the national power grid so that the people who live in this area can receive their energy from renewable sources.

A part of the area on which the solar power plant B2 Sun Spot will be built is occupied by a landfill. Following a decision to build the power plant in this location, the landfill was also cleaned and the land here was subsequently rehabilitated for construction purposes. This is a good example of how two sustainable ideas can be implemented at the same time – waste removal and green energy production – both of which contribute to reducing emissions.

CEEFOR’s team of experts consists of engineers who take advantage of every opportunity, through participation in projects, fairs and conferences, to expand and improve their knowledge, to justify the trust given to them by clients. Their dedication and experience are backed by a list of satisfied clients. CEEFOR engineers have proven once again that action speaks louder than words when during the stormy winds and weather problems that befell our country this summer, the solar power plants designed by them did not suffer the slightest damage.

The CEEFOR Company has been successfully operating in the field of sustainable project development and energy efficiency in the Balkan region for more than a decade. The company provides consulting and design services related to renewable energy sources.

Prepared by: Katarina Vuinac

Read the story in the new issue of the Energy portal Magazine RESPONSIBLE BUSINESS

One in four EVs sold in Europe this year will be made in China – analysis

Photo-illustration: Unsplash (Chuttersnap)
Photo-illustration: Unsplash (Michael Fousert)

Almost a fifth (19.5 percent) of electric vehicles sold in Europe last year were made in China and this is on track to reach a quarter (25 percent) in 2024, according to new analysis by Transport & Environment (T&E). The forecast comes as the EU is considering import tariffs to counter subsidies for China’s EV industry. T&E said ramping up production of mass-market electric cars and investing in the European battery supply chain is the only way for EU carmakers to compete with Chinese brands, but tariffs would also help localise EV manufacturing.

While Chinese imports into Europe have largely been Tesla, Dacia and BMW cars produced there, T&E projects that Chinese brands could reach 11 percent of the European EV market in 2024 and 20 percent in 2027. The conservative projection assumes a linear growth in Chinese OEM market share based on the last two years, though BYD alone is targeting 5% of the European electric car market by 2025.

Julia Poliscanova, senior director for vehicles and emobility supply chains at T&E, said: “Tariffs will force carmakers to localise EV production in Europe, and that’s a good thing because we want these jobs and skills. But tariffs won’t shield legacy carmakers for long. Chinese companies will build factories in Europe and when that happens our car industry needs to be ready.”

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Raising the EU tariff on all vehicle imports from China to 25 percent would make medium-sized sedans and SUVs more expensive than their European equivalents – making the case for EU manufacturing, the T&E analysis finds. Compact SUVs and larger cars imported from China are expected to remain slightly cheaper with such a tariff.

Photo-illustration: Pixabay

However, the EU should not aim to shield its carmakers from meaningful competition, which would limit the offer of affordable electric cars for Europeans, T&E said. It is crucial that a higher tariff is accompanied by a regulatory push to increase production of EVs, including electrification targets for company car fleets by 2030 – on top of the agreed 100 percent clean car goal in 2035.

But investments in lithium-ion batteries are also at risk as cells manufactured in China are at least 20 percent cheaper than in Europe, and Chinese battery-makers are ahead on technology and supply chains. The US is also attracting battery investments through generous subsidies. T&E said industrial measures – such as subsidies for clean and circular manufacturing and “Made in EU” targets – are needed to create a pull for local cell production. As neither of these are currently in place, tariffs for battery cells should be considered. Compared to the US and China, the EU currently has the lowest battery cell tariffs.

Julia Poliscanova said: “Batteries are the new solar. China is ahead and its state backed companies have huge overcapacity. If we are serious about a diverse and resilient battery supply chain in Europe, we need to put our money where our mouth is right now. We’re not going to get a second chance.”

Source: Transport and Environment