Ursula von der Leyen, the President of the European Commission, launched the Global Energy Transition Forum, together with the Executive Director of the International Energy Agency, Fatih Birol.
EIB will provide €243 million in financing to leading independent clean wind and solar energy operator ERG Group to promote the development of renewable energy in Italy, France and Germany.
Global energy investment is expected to surpass €2.8 trillion for the first time, with €1.9 trillion allocated to clean technologies such as renewables, electric vehicles, and nuclear power.
The European Commission has selected 134 transport projects to receive over €7 billion in EU grants from the Connecting Europe Facility (CEF).
Ember estimates that 20% of global electricity generation across midday peaks on the solstice today will come from solar and in the entire month of June.
The EU and KfW have signed a Guarantee Agreement enabling the financing of additional renewable energy generation capacities and further network development.
Global spending on clean energy technologies and infrastructure will reach €1.85 trillion in 2024.
Despite Beijing's focus on self-reliance in its energy policy, it is expected that most oil and gas will still be imported in 2050.
The Commission European welcomes the adoption of significant reforms in the electricity and gas markets, along with a new regulatory framework aimed at advancing hydrogen and other decarbonized gases.
The World Bank supports Bulgaria's efforts to secure clean energy resources. The bank will provide expert technical opinions based on the best global ideas and practices for managing Bulgaria's geothermal energy resources. The use of geothermal energy will provide new jobs and guarantee a smooth transition to green energy.
The European Commission presented the centerpieces of a strategy on Thursday to ensure its industry can compete with the United States and China in making clean tech products and accessing raw materials required for the green transition. Global investment in the green transition is set to triple by 2030 from $1 trillion last year.
For Romania, the production of batteries is a strategic imperative for the transition to clean energy, for modernization, and increase in the competitiveness of the industry, says the Minister of Economy, Florin Spataru. He states that the battery industry for electro-mobility represents a field that requires substantial investment both for production and for research.
The Polish company R.Power Group is developing a project portfolio of over 1 GWp in Romania. The company plans to expand its share of this market in the coming months and sign more contracts for photovoltaic projects. It is estimated that the construction of the first projects will begin next year.
In a comprehensive modernization effort, real estate developer GTC switches to 100% green energy; reducing its domestic energy consumption by 20%.
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.
