Power projects will receive higher utilization rates and tariffs, and clear dues in a timely manner. The Indian government has simplified the rules governing the Open Access (OA) framework governing electricity purchases and sales. Regulatory uncertainty prevents C&I customers from using OA to purchase electricity for mid- to long-term contracts.
The goal of the Accelerating Clean Energy Partnership is to distribute 100 GW of clean energy globally by 2035. The two countries will also invest in managing harmful emissions such as carbon and methane, as well as developing nuclear technology. The news comes just days before world leaders convene the UN COP27 climate summit in Egypt.
The global economy has been in relative stagnation since the 2008 financial crisis. This so-called secular stagnation is a global trend, but the UK has fared particularly badly. This is a huge problem for mainstream decarbonization visions. Most states, business groups and international organisations believe it must be driven by a global boom in renewable energy and sustainable infrastructure.
Businesses in India continue to face significant challenges such as the complexities of transition, lack of talent and limited resources in their journey towards net zero carbon targets. 71% of businesses in India believe collaboration is critical to clearing these barriers. 63% said lack of access to peer-to-peer networks and cross-sectoral communities is the biggest challenge hindering climate cooperation.
A new solar power plant at Heineken NV South Africa will meet 30% of a brewery's electricity needs. The 19-hectare (47-acre) project will generate 17,000 MWh of electricity annually. State utility Eskom frequently implements rolling blackouts, called "load shedding," as it struggles to meet demand.
The drop in Russian fossil fuel exports after the invasion of Ukraine will change the global energy landscape for decades. The IEA's annual World Energy Outlook acknowledges the hit to the economy from reduced supplies of Russian oil, gas and coal. The short-term gap created by the reduction in Russia's fossil fuel supply needs to be filled elsewhere. The strongest candidates are "short lead-time" projects that can quickly bring oil and gas supplies to market. The International Energy Agency (IEA) predicts that by 2030 Russia's share of the global energy market will fall from around 20% today to below 10%. For the first time, demand for each fossil fuel has peaked or plateaued, the IEA said.