Bloomberg The world could install more than a trillion watts of renewable power over the next five years, more than the entire current generation capacity of the European Union. The International Energy Agency’s (IEA) latest annual report on renewables forecasts as much as an extra 1.3 terawatts of clean energy will be installed by 2023 under one scenario. Even in ...

Bloomberg If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year — but this hinges crucially on the dollar, according to Bank of America Merrill Lynch (BofAML). Sanctions on Iran, shale bottlenecks, Venezuelan turmoil and increased demand pose an upside risk to prices, the bank said. Higher prices would slow ...

Bloomberg General Electric Co. secured a $700 million contract to supply turbine and generator units for Egypt’s first nuclear power project, the company said. GE will supply four turbine units for the country’s planned 4,800 megawatt El Dabaa nuclear facility, it said on Tuesday in a statement. The company will deliver one turbine each year from 2023 until 2026, and ...