News
News
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Bank of England warned of ‘moral hazard’ risks from high-carbon bond purchases
The Environmental Audit Committee (EAC) has warned the Bank of England that it risks creating a ‘moral hazard’ by purchasing high-carbon bonds and providing unconditional funds to carbon-intensive companies. The EAC estimates the bank’s corporate bond purchases are currently aligned with a ‘catastrophic’ 3.5°C temperature rise by 2100, far exceeding the Paris Agreement goal of […]
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Lightsource bp ready for Spanish solar boom with acquisition of 1GW portfolio
Oil giant bp’s subsidiary, Lightsource bp has acquired a 1.06GW solar portfolio in Spain from the PV developer RIC Energy. The two companies have partnered to develop 14 projects across the Spanish regions of Madrid, Andalucía and Castilla y León. The first projects are expected to reach ‘ready to build’ status by the end of […]
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IRENA members endorse launch of global energy transition forum
Members of the International Renewable Energy Agency (IRENA) have approved the establishment of a new forum aimed at spurring energy transition as an integral part of the COVID-19 recovery. The Global High-Level Forum on Energy Transition will use IRENA’s knowledge and convening powers to accelerate energy transition action from countries, industry, businesses, investors and academia. […]
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Shell, Vattenfall and MHI join forces for major hydrogen project at a former coal plant in Hamburg
A collaboration between Shell, Vattenfall, Mitsubishi Heavy Industries (MHI) and the municipal company Wärme Hamburg will see a former coal-fired plant in Hamburg being transformed into what is described as one of the largest hydrogen plants in Europe. The companies plan to produce hydrogen from wind and solar power at Vattenfall’s Moorburg power plant site […]
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Space the new frontier in renewable energy?
Could satellites be used to capture data from offshore wind farms to inform decisions made every day by the renewable energy sector? The European Space Agency (ESA) and the Scottish energy industrial development body Aberdeen Renewable Energy Group (AREG), have signed a memorandum of intent (MOI) to develop, analyse and implement space-enabled technologies to support […]
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Could the ‘first’ hydrogen firing of industrial boiler in Manchester hold the key to UK’s decarbonisation?
A 1MW industrial boiler in Manchester was fired with hydrogen in a trial that promises to hold the key to the UK’s industrial decarbonisation. The firing is part of the ‘HyNet Industrial Fuel Switching’ (IFS) programme, which aims to demonstrate alternative sustainable sources of fuel for industry. The scheme, led by Progressive Energy, will provide […]
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Biden signs executive order to rejoin Paris climate change accord
Joe Biden has signed as executive order to reinstate the US to the Paris climate change agreement just hours after being sworn in as President. Signed in the White House on Wednesday, the executive action will see the US rejoin the international effort to curb global warming, a process that will take 30 days. The […]
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Global energy transition investment ‘hit $500bn mark in 2020’
A total of $500 billion (£365bn) was invested in renewables, vehicle and heating electrification, hydrogen and carbon capture globally in 2020. The figures are from a report by BloombergNEF (BNEF), which estimates global economies committed a 9% larger budget to decarbonisation last year, despite the economic disruption caused by the coronavirus pandemic. The BNEF’s research […]
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North South divide when it comes to on-street EV charging
Southern councils in England will deploy twice the amount of on-street EV charge points compared to their northern counterparts. That’s the conclusion of a report by Centrica which says just 9,317 on-street EV chargers are planned to be installed across the whole of the UK by councils in the next four years. It says councils […]
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Balls of Seagrass could help kick microplastics out of the sea
Scientists from the University of Barcelona (UB) have discovered that seagrass and natural fibre in the shape of balls, could clean up the oceans by trapping up to 867 million plastic pieces every year. The research, which was published in the journal Scientific Reports, suggests that plastics are trapped in the ‘Posidonia Neptune’ seagrass balls […]
Quotes
The cheapest kWh of energy is the one you don't use Delvin Lane, Head of Energy 360, British Gas