Industry | 13 November, 2024 at 7:25 AM
IEA: solar energy to outshine traditional sources
The International Energy Agency (IEA) has released its October 2024 report, outlining a promising future for photovoltaic (PV) solar energy.
The International Energy Agency (IEA) has released its October 2024 report, outlining a promising future for photovoltaic (PV) solar energy.
The International Energy Agency's Global Hydrogen Review 2024 reports that the production of low-emissions hydrogen projects that reached final investment decisions has doubled in the past year.
Renewables are set to make up more than one-third of total electricity generation by early 2025, overtaking coal.
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).
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.
A significant portion of EU grants is allocated to support sustainable initiatives, further driving the rise in these types of loans.
Polish energy group Orlen announced that its subsidiary, Energa Operator, has secured a €1.8bn loan to modernize the power grid, preparing it for the integration of renewable energy sources.
OMV Petrom announced the commencement of construction for a production unit dedicated to sustainable aviation fuel (SAF) and renewable diesel (HVO) at the Petrobrazi refinery.
The European Investment Bank (EIB) is providing a €240 million loan to Slovakia for co-funding of EU-supported green and digital projects across the country.
In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has signed agreements with Air Liquide to develop two projects in the Netherlands.
