(Oil & Gas 360) – The International Energy Administration (IEA) is forecasting 70% growth in global renewable capacity additions by the end of the decade. The projected momentum follows a record year for capacity growth in 2023. Solar and wind are expected to generate 95% of that capacity growth due to their growing economic attractiveness, according to the agency. The report
(Oil & Gas 360) – The federal Bureau of Land Management (BLM) has finalized its plan to add nearly 50% more public lands to generate more solar energy. The agency’s Western Solar Plan, which first targeted 22 million acres across Arizona, California, Colorado, Nevada, New Mexico, and Utah in its original plan in 2012, has been expanded to 31 million acres
(Oil Price) – This week, the International Energy Agency said that the COP28 targets for expanding wind and solar capacity were “within reach”. Yet there was a “but”. That had to do with the fast expansion and upgrade of grids and the equally fast buildout of energy storage capacity. That “but” can doom the whole transition—if it’s not already doomed.
Oil Price For the first time ever, U.S. electricity generation from utility-scale solar and wind exceeded nuclear power plants’ power output in the first half of 2024, according to data from energy think tank Ember quoted by Reuters columnist Gavin Maguire. Electricity generation from solar and wind hit a record-high of 401.4 terawatt hours (TWh) between January and June 2024, surpassing
Oil and Gas 360 FORT WORTH, Texas and MIDLAND, Texas, May 30, 2024 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or “HPK”) (NASDAQ: HPK), a leading independent oil and natural gas company, has recently completed and commissioned a new solar facility, the WildHorse Solar Farm, in its Flat Top operating area. The WildHorse Solar Farm was developed and is owned
Yahoo Finance The White House on Thursday said it would protect domestic solar factories from Chinese competition by scrapping a tariff exemption for imported double-sided panels and making it easier for projects to claim a subsidy for using American-made products. The moves come as President Joe Biden touts his economic policies ahead of a November election against his predecessor, former
Oil and Gas 360 The frontrunner in Mexico’s next presidential elections, Claudia Sheinbaum, will invest billions in new natural gas generation capacity and solar power, Bloomberg has reported, citing a plan presented to local business leaders. The plan also includes upgrading hydropower capacity and expanding Mexico’s grid with 3,850 km of new transmission lines. Sheinbaum will also continue supporting state-owned oil
US News FRIEBERG, Germany – European governments due to move to support their solar power manufacturers this week will be too late to stop solar panel maker Meyer Burger packing up a German factory to send production to the United States. The plant in Freiberg in eastern Germany closed in mid-March with the loss of 500 jobs, as the Swiss-listed
Oil Price The U.S. grid’s vulnerability to cyberattacks has grown, the North American Electric Reliability Corporation has warned. According to the regulator, the number of vulnerability points in the grid had grown from between 21,000 and 22,000 at the end of 2022 to 23,000-24,000 at the end of 2023. “It’s very hard to keep pace with addressing all those vulnerabilities,”
Nasdaq NEW YORK – Shell’s SHEL.L U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sawan. Investment bank Jefferies JEF.N is running the sale of up to 10.6 gigawatts (GW) of solar generation and storage
Oil Price Brazil’s state oil major Petrobras is this year set to go on a shopping spree in wind and solar, its chief executive told Reuters this week. The company aims to build a portfolio of stakes in wind and solar projects to the tune of 2 GW, Jean Paul Prates told the news outlet in an interview. “The market will see
Oil Price The U.S. Administration this week issued a much-anticipated guidance on tax credits in the Inflation Reduction Act (IRA), giving access to tax credits to local governments and non-profits to join the clean energy transition. The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released guidance on key provisions in the IRA to expand the reach of
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