Bloomberg China is set to install a record amount of wind and solar power capacity this year as the country strives to meet climate goals while reducing its reliance on the rest of the world for energy. China will add 140 gigawatts of capacity from the clean energy sources, said Tao Ye, a researcher with the National Development and ...

  Bloomberg Regulators approved a $4.5 billion transmission line that will deliver Canadian hydropower to New York City, a key component of the Empire State’s efforts to eliminate carbon from its power grid by 2040. The 339-mile Champlain Hudson Power Express is expected to be complete in 2025, according to a statement from New York Governor Kathy Hochul. The Public ...

Bloomberg California, which aims to have a carbon-free power grid within 25 years, got a short glimpse of that possibility earlier this month. The state’s main grid ran on more than 97% renewable energy on April 3, breaking a previous record of 96.4% that was set just a week earlier, the California Independent System Operator said in a statement. “While ...

  Bloomberg Romania is moving ahead with a plan to unlock stalled natural gas projects in the Black Sea as Europe searches for new energy resources to cut reliance on Russia following its invasion of Ukraine. The country’s ruling coalition has reached an agreement on a long-delayed bill amending the country’s offshore law to boost investments and unlock stalled gas ...

Bloomberg Germany was warned it could face a 220 billion-euro ($240 billion) hit to output over the next two years in the event of an immediate interruption in Russian energy supplies over the war in Ukraine. Economic institutes advising the government in Berlin said in a joint forecast that a full halt in Russian natural gas imports would result in ...

America is following an “arsenal of democracy” strategy in Ukraine: It has avoided direct intervention against Russian invaders, while working with allies and partners to provide the Kyiv government with money and guns. That strategy, reminiscent of US support for Britain in 1940-41, has worked wonders. Yet as the war reaches a critical stage, with the Russians preparing to consolidate ...

Elon Musk wants to buy Twitter Inc for $43 billion — but he has only about $3 billion in cash on hand. Most of the fortune of the world’s richest man, which adds up to some $259 billion, is tied up in Tesla Inc and other nifty things. So if he’s serious about a takeover — and there is ample ...

  Two of Asia’s most important trading nations stepped up the fight against inflation as the battle with Covid winds down. Like the spread of the virus, officials need to reckon with a certain inevitability: The pace of price increases will only accelerate, in the medium term. No matter the response, there will be economic costs. The Monetary Authority of ...

  “Why, sometimes I’ve believed as many as six impossible things before breakfast.” — the White Queen. Analysts trying to evaluate the prospects for a revival of Hong Kong’s economic fortunes under a new chief executive might be better off discarding their political science manuals and consulting Lewis Carroll’s “Through the Looking Glass.” Assessing whether events will follow the course ...

  Bloomberg An amendment to European Union sanctions created a potential path for some aircraft financiers to sell jets held in Russia to the airlines now operating them without permission. The measure will allow EU governments to grant permission for entities in their states to keep receiving payments from Russian companies on so-called financial leases signed before February 26. Ownership ...