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(Reuters) - French bank BNP Paribas (BNPP.PA) on Tuesday pledged to slash the money it has outstanding with the oil extraction and production industries to less than one billion euros ($1.1 billion) by 2030, an 80% decline from its current balance of five billion euros. The lender said it stopped financing oil projects back in 2016, but... Continue Reading →
(OWB) Half of the US offshore wind energy projects in the pipeline are at risk of being delayed beyond 2030 because of limited port and vessel infrastructure and domestic manufacturing, according to a new report co-authored by the National Renewable Energy Laboratory (NREL) and the Business Network for Offshore Wind. The US has set the... Continue Reading →
(Reuters) - European Union leaders will give clearance in February for work on new EU funding for the green tech industry to counterbalance subsidies in the United States and China, as well as more flexible use of existing funds and looser state aid rules. The draft conclusions for the Feb 9-10 EU leaders' summit, seen... Continue Reading →
(Reuters) - Imports of renewable hydrogen into the European Union by 2030 will be competitively priced compared with domestically produced clean hydrogen, a future energy source to replace fossil fuels, a study by Aurora Energy said on Tuesday. In the RePowerEU policy, lawmakers have assumed that hydrogen usage in the bloc will reach 20 million... Continue Reading →
(Reuters) The share of bank finance going to renewable energy rather than fossil fuels has little changed in six years, raising questions about how fast lenders are pushing energy clients to become greener, according to research published Tuesday. Since 2016 renewable energy has taken 7% of a total $2.5 trillion in bank loans and bond... Continue Reading →
(Reuters) - Portugal expects to launch its first offshore wind power auction by the last quarter of this year, aiming to reach 10 gigawatts (GW) of installed capacity by 2030, Prime Minister Antonio Costa said on Monday. As a pre-condition to the auction, the government will this week launch a public hearing regarding proposals for... Continue Reading →
(Reuters) - Charges unveiled by two offshore wind sector leaders highlight the challenges the fast-growing renewables industry is facing, ranging from quality issues to cost inflation, that are hitting profit outlooks. Denmark's Orsted (ORSTED.CO), the world's No. 1 offshore wind farm developer, late on Thursday announced a writedown on a large U.S. offshore wind project and... Continue Reading →
(Reuters) - Germany on Friday said it has drawn up new development plans for offshore wind turbine sites to reach a target for 30 gigawatts (GW) of installed wind power capacity by 2030. The plans by the Federal Maritime and Hydrographic Agency (BSH) will ensure that the target can be met, the Economy Ministry said... Continue Reading →
EDP, a company that operates throughout the Brazilian electricity sector chain, launched in São Gonçalo do Amarante, Ceará, its green hydrogen production plant as part of the Pecém Research & Development project H2V, which had an investment of R$ 42 million. In December, the company had already generated the country's first green hydrogen molecule at... Continue Reading →
(Reuters) - Shares in Danish energy company Orsted (ORSTED.CO) tumbled by more than 7% on Friday after announcing a writedown on a large U.S. offshore wind project and an earnings forecast for 2023 that fell short of analyst estimates. Despite rising demand for green energy, dark clouds are gathering over the offshore wind power industry as rising... Continue Reading →
Brazil Energy Insight 