Greece's offshore wind project has unveiled its Strategic Environmental Impact Assessment (SEIA) at a special event. The project consists of 25 areas covering 2,712 square kilometers and has a capacity of at least 12.4 GW. Most of these areas are suitable for floating wind technology. The plan identifies 10 areas eligible for development by 2030 to 2032, with a total floating project capacity of approximately 4.9 GW. The list of eligible Organized Development Areas for Offshore Wind Farms (OWF-ODA) includes eastern Crete, southern Rhodes, the central Aegean, the Evia-Chios axis and the Ionian Sea. A study by the Foundation for Economic and Industrial Research (IOBE) found that offshore wind deployment could boost gross domestic product by €1.9 billion per year, increase government revenue by €440 million and support up to 44,400 jobs per year.
Vibrant Energy has signed a power purchase agreement with e-commerce giant Amazon for a 198 MW wind farm project in Maharashtra. The scheme is expected to generate 6,97,261 MWh of electricity annually and offset 4,94,137 metric tons of CO2 emissions annually and is expected to be operational by early 2025. Vibrant Energy is supporting Indian businesses to achieve net-zero carbon electricity.
A year ago, a solar mini-grid in the Nigerian village of Sabangida provided nearly uninterrupted power to half of the community’s homes and businesses. This has led to the growth of clean energy mini-grids, with rural Africa set to benefit the most. The World Bank and the International Energy Agency consider solar minigrids a viable way to provide fossil-free electricity to rural areas in sub-Saharan Africa. However, scaling up solar in Africa faces challenges such as securing investors, inflationary pressures, better state financing and clear policies.
The COP28 climate talks in Dubai focus on four key topics: reducing emissions, eliminating fossil fuels and delivering a just energy transition for developing countries. The Paris Agreement, which aims to limit average global temperatures to 1.5 degrees Celsius, is no longer enough. Countries must negotiate a phase-out of fossil fuels, which account for 80% of global energy consumption. COP28 must conduct the first global stocktake of the Paris Agreement and determine necessary measures.
The Serbian Women in Sustainable Energy conference discussed the role of women in the energy transition and the importance of gender equality. A survey conducted by the Center for Sustainable Development in partnership with the German International Cooperation Agency GIZ shows that women are active participants in the energy transition but need financial and institutional support to participate. The meeting also emphasized the need to pass a low-carbon development strategy and a climate change law. Gender equality is a key value of the German Development Cooperation.
Polls show that Romania’s solar boom is not slowing down, with the Romanian Energy Regulatory Authority (ANRE) predicting that the number of prosumers will reach 100,000 by the end of 2023. About 24.11% of Romanians plan to install solar panels within the next three to five years, with cost reduction and energy independence being the main reasons. Only 16% of respondents mentioned government subsidies, and 40% considered an investment of €3,000 to €4,000 to be sufficient to become a prosumer. Romania is providing massive subsidies, which Prime Minister Nicola-Ionel Ciuca estimates will be enough to benefit up to 80,000 beneficiaries.
Inox Green Energy Services will divest 100% stake in Nani Virani Wind Energy Private Ltd, a 50 MW operating wind farm in Gujarat. The transaction will be completed subject to regulatory and banking approvals, including board and shareholder approvals. The move will strengthen Inox Wind's financial strength and improve profitability as the company aims to become net debt-free.
A new intelligence briefing from PreScouter highlights the challenges of global renewable energy adoption that could lead to increased carbon emissions. Renewable energy sources account for 10-20% of electricity in major economies, but there are signs of inconsistency, affecting power quality. The report suggests that existing infrastructure may not be able to support a rapid transition to renewable energy, so modern and efficient storage strategies are needed.
Renewable energy industry developers say land costs are critical to reducing the cost of solar projects in India. Optimizing land costs involves finding the right balance between location, quality and price. The "2023 National Power Plan" points out that land is the most important resource for solar power plants, and higher-capacity solar modules can reduce land requirements. However, challenges such as land supply, legal issues and land transfers remain. Developers must carefully evaluate land-related factors, work with local authorities, and consider strategies to minimize expenditure while ensuring project efficiency and regulatory compliance.
The International Energy Agency (IEA) found that rates of solar panel installation and electric vehicle purchases are consistent with the pace necessary to achieve net-zero emissions by 2050. The IEA also stressed that by 2030, fossil fuel demand must fall by 25%, energy efficiency of homes and vehicles must double, and methane emissions from the oil and gas industry must fall by 75%. However, despite the rapid increase in renewable energy, fossil fuels remain an important source of energy, especially in Asia.