Energy

Bloomberg Wealthy nations are falling short on promises to help the develo- ping world reduce greenhouse gases by investing in clean energy, jeopardizing the global fight against climate change. Clean energy investments in China, sub-Saharan African and other emerging markets fell 27 percent in 2016, to $111.4 billion, Bloomberg New Energy Finance said in a study Monday. Less than 10 ...

Bloomberg Several solar projects in India are facing delays and inflated costs as customs officials have blocked more than 900 containers of panel shipments for more than a month by demanding higher import duties. Officials clearing import shipments at the Port of Chennai in South India are classifying solar panels as motors, which attract 7.5 percent import duty as opposed ...

Bloomberg Building solar and wind farms has started to become a cheaper proposition than running aging coal and nuclear generators in parts of the US, according to financial adviser Lazard Ltd. Take wind: Building and operating a utility-scale farm costs $30 to $60 a megawatt-hour over its lifetime, and that can drop to as low as $14 when factoring in ...

DUBAI / Reuters International Finance Corporation (IFC), a member of the World Bank Group, on Sunday said it had completed a $653 million debt package to finance building 13 solar power plants near Aswan in Egypt, planned to be part of the largest solar park in the world. Generating up to 752 mega-watts of solar power, the Nubian Suns Feed-in-Tariff ...

Bloomberg The regulator charged with implementing Energy Secretary Rick Perry’s plan to keep coal plants online has something in common with the former Texas governor: Both men believe that coal and nuclear power are more reliable than other energy sources. Coal and nuclear “are firm, non-interruptible fuel sources” that are more resilient to extreme-weather events than fuels which must be ...

Bloomberg Singapore plans to develop solar power and energy-storage technologies as the oil-trading hub of Asia pushes to generate more of its power from renewable sources. The city-state is testing floating power projects in its reservoirs, a technology that could help solar meet as much as a quarter of electricity demand by 2025, Deputy Prime Minister Teo Chee Hean said ...

Bloomberg The UK’s subsidy ban for new onshore wind farms could tack 1 billion pounds ($1.3 billion) onto power bills over five years by eschewing one of the cheapest forms of clean energy. Generating power from new onshore wind farms would be 100 million pound a year cheaper than doing so from new nuclear reactors or biomass plants, and at ...

Bloomberg Investment fund Global Infrastructure Partners (GIP) agreed to buy Equis Energy, a Singapore-based developer of renewable-power projects, for $5 billion including debt, a record for the industry. The deal includes $1.3 billion of liabilities and is expected to close in the first quarter, the companies said in a joint statement on Wednesday. Equis Energy’s portfolio of assets includes solar, ...

LONDON / WAM The path ahead to deliver innovation in energy sector is certainly challenging, but the UAE is a nation where innovation and creativity meets a positive attitude towards change and improvement, according to Dr Matar Al Neyadi, Under-Secretary of the UAE Ministry of Energy, speaking in the run up to the recent World Energy Council annual general gathering ...

Bloomberg Saudi companies are looking to solar electricity to hedge the risk of rising power prices if energy subsidies are cut, according to one of the Kingdom’s biggest plant developers. “Everybody is very convinced that electricity prices are going to be reformed over the next three years,’’ ACWA Power International Chief Executive Officer Paddy Padmanathan said in an interview in ...