Energy

Bloomberg Belgium isn’t doing enough to curb its greenhouse gas emissions, a challenge highlighted by its plans to phase out nuclear energy, according to the International Energy Agency (IEA). The country, home to many of the European Union’s major institutions, has made limited progress on reducing its reliance on fossil fuels, the IEA said in a report. It called for ...

  Bloomberg Mark Carney, head of transition investing at Brookfield Asset Management, said investments in clean energy are running at a third the pace that’s required to meet climate goals. The world isn’t “going far enough or fast enough” to shift to low-carbon fuels, he said in an interview on Bloomberg TV. “We need to up our game.” The Glasgow ...

  Bloomberg French power futures rose to their highest level this year after Electricite de France SA found further indications of corrosion on its nuclear fleet, potentially worsening Europe’s supply crisis. French nuclear capacity is already at its lowest in a decade for this time of year as the energy giant is keeping some of its 56 reactors offline for ...

  Bloomberg Siemens Gamesa Renewable Energy agreed to sell its European onshore wind portfolio to Scottish utility SSE for $630 million. It’s the first major divestment for CEO Jochen Eickholt after he was promoted last month to try to turn the turbine maker around as project delays and cost overruns led to profit warnings. The industry is grappling with soaring commodity ...

  Bloomberg India’s JSW Group, which runs emissions-heavy businesses including steel, cement and energy, plans to switch a majority of its bonds to green instruments as the industrial giant seeks access to longer-term borrowings. Raising debt overseas through green and sustainability-linked bond issues will allow the group led by tycoon Sajjan Jindal to almost double its tenure to 10 years, ...

  Bloomberg Denmark wants to temporarily increase its output of natural gas to help Europe wean itself off Russian energy. The Nordic country, which has pledged to stop production of fossil fuels, will start talks with the companies operating in its part of the North Sea and pledged to speed up administrative processes to allow more production, according to a ...

  Bloomberg Renewable energy developer Quantum Power Asia Pte agreed to advance a potential $5 billion plan to export clean electricity to Singapore as the city-state attempts to accelerate its use of renewables. Quantum and Berlin-based partner Ib Vogt GmbH aim to construct a 3.5 gigawatt solar facility and 12 gigawatt-hour battery storage facility across 4,000 hectares of land in ...

  Bloomberg A natural gas pipeline in Texas leaked so much of the super-potent greenhouse gas methane in little more than an hour that by one estimate its climate impact was equivalent to the annual emissions from about 16,000 US cars. The leak came from a 16-inch (41-centimeter) pipe that’s a tiny part of a vast web of unregulated lines ...

  Bloomberg China has identified enough wind energy potential in Tibet to power the UK, Germany and France combined, and plans to further develop the region to help meet its ambitious climate targets. Tibet has enough sites with strong, steady wind to install 600 gigawatts of turbines, with another 420 gigawatts possible in parts of the plateau in neighboring regions ...

  Bloomberg Pakistan is cutting electricity to households and industry as the cash-strapped country can no longer afford to buy coal or natural gas from overseas to fuel its power plants. The South Asian nation is struggling to procure fuel from the spot market after prices of liquefied natural gas and coal surged to records last month as the war ...