Energy | 6 June, 2024 at 9:00 AM
Investment in clean energy this year is set to be twice that of fossil fuels
Global spending on clean energy technologies and infrastructure will reach €1.85 trillion in 2024.
Global spending on clean energy technologies and infrastructure will reach €1.85 trillion in 2024.
Renewables are set to make up more than one-third of total electricity generation by early 2025, overtaking coal.
The world has added 50% more renewable capacity in 2023 than in 2022 and the next 5 years will see the fastest growth yet.
Achieving all national climate and energy goals will require adding or replacing 80 million kilometers of power lines by 2040, according to a report released by the International Energy Agency (IEA).
For net zero emissions in 2030, it is necessary to double the progress in energy efficiency. The International Energy Agency has brought together world leaders in the field of energy and climate change in France for a major discussion on energy efficiency. A new IEA analysis shows that the world needs to double progress on energy efficiency by 2030 as part of efforts to improve energy security and affordability while maintaining the goal of limiting global warming to 1.5°C.
About $2.8 trillion is set to be invested globally in energy in 2023, of which more than $1.7 trillion is expected to go to clean technologies – including renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements, and heat pumps – according to the IEA's latest World Energy Investment report.
It is still a long way to embedding ESG principles into corporate culture, operations, and decision-making processes. That was the main takeaway from a panel at CEE ESG Forum 2024 organised by Property Forum and Green Forum in Vienna last November.
FAN Courier, a leading Romanian logistics company, has allocated an investment budget of 40 million euros for 2025, including in renewable energy.
DRI, the European renewables division of Ukrainian energy company DTEK, has successfully connected its 60MW Glodeni II solar park to the Romanian grid.
NXP Semiconductors N.V. announced that it has secured a €1 billion loan from the EIB to advance the company's RDI investments across its broad portfolio of semiconductor solutions.
EIB and Societe Generale have agreed on a new initiative which has the potential to unlock investment of up to €8 billion to support wind energy manufacturers in Europe.
