Cepsa and Iberdrola have signed an agreement to transport green hydrogen between Spain and the Netherlands, aiming to become a leader in green hydrogen. Cepsa hopes to sell some of its products to industrial customers eager to decarbonize the European economy through the Netherlands. The agreements will help create a green hydrogen sea corridor between Algeciras and Rotterdam and allow Cepsa access to its transport network in the Netherlands. Iberdrola plans to invest 3 billion euros in its flagship green hydrogen project in Andalusia, which includes a 1 billion euro green ammonia plant.

Climate change think tank ECCO and consultancy Artelys said Italy would need to add 190 gigawatts of renewable energy capacity by 2035 to achieve a G7 net-zero electricity system. The country relies heavily on the electricity system, with more than 50 percent of its electricity coming from natural gas, oil or coal. To achieve this goal, Italy needs to increase its installed solar and wind capacity by 7 sites by 2030 and by 8 sites by 2035. By 2035, electricity generation from natural gas will be almost zero, and thermal power plants will be converted to hydrogen and biogas.

Athein is seeking to raise $250 million to $300 million in equity from investors to fund its planned solar and wind projects in India, the Philippines and Vietnam. The company has hired Hong Kong-based Green Horizon Capital Partners to advise on the equity raise. India and Southeast Asian countries are rapidly increasing their use of renewable energy due to blackouts and climate change. The equity financing is Athein's first joint venture with five solar companies.

For the first time since 2020, wind power will overtake coal as Germany's largest electricity supplier in the first quarter of 2023. Conventional energy sources still account for more than half of electricity production. Germany aims to generate at least 80 percent of its electricity from renewable sources by 2030.

The Japanese government has adopted a revised plan to use more hydrogen as fuel to reduce carbon emissions. It set an ambitious goal of increasing annual supply sixfold and pledged 15 trillion yen in funding. The plan prioritizes nine strategic areas, including the development of water electrolysis equipment, fuel batteries and large tank trucks for transporting hydrogen. Japanese leaders aim to transform the country into a "hydrogen society" by promoting the commercial use of pure hydrogen and ammonia. Japanese Prime Minister Fumio Kishida has set an ambitious goal to encourage long-term investment in developing large-scale hydrogen supply and demand. Economic sanctions against Russia have intensified competition for LNG, necessitating a long-term strategy to ensure a stable energy supply.

The Suzlon Group has achieved the milestone of 20 GW of installed wind turbine capacity worldwide, with 12,467 wind turbines installed in 17 countries, spanning six continents. Together with its late founder and chairman Tulsi Tanti, Suzlon has shaped the Indian wind energy industry since 1995. Suzlon's journey from the first 270kW turbine in 1995 to a 3MW turbine in 2023 will continue to inspire generations to come. Headquartered in Suzlon One Earth, Pune, the group has a diverse workforce of 5,900 employees with an operating track record of over 28 years.

The world will add a record amount of renewable electricity capacity this year as governments and consumers seek to offset high energy prices and capitalize on a solar boom. It is expected to reach 440 GW by 2023, bringing global installed capacity to 4,500 GW, roughly as much as the combined generating capacity of the United States and China. The supply chain for wind turbines is not growing fast enough to meet demand, and the grid must be upgraded and expanded to account for the intermittency of solar and wind power. To meet the goals of the Paris climate agreement, emissions need to be halved by 2030 and cut to "net zero" by mid-century. Countries will discuss setting international targets for renewable energy rollout at the UN climate summit.

India's electricity consumption has increased significantly. In December 2022, its total electricity consumption will reach 121.19 billion kilowatt-hours, leading the growth of renewable energy in the world, and it is the third largest country in terms of new installed capacity of renewable energy. To ensure financial stability, the government has introduced facilitation schemes such as Jawaharlal Nehru National Solar Scheme, Rooftop Scheme and Solar Park Scheme. Financial stability in the energy sector is critical to attracting funding for clean energy projects, developing innovative technologies and supporting the transition to a low-carbon economy. It also ensures that companies can maintain stable employment levels, provide fair wages, and contribute to the local economy. Without stability, companies may have difficulty obtaining funding or accessing capital markets, hindering their ability to grow and innovate.

Portugal's first auction of permits to build offshore wind farms will start at the end of the year. Its goal is to have a total installed capacity of more than 1 GW by 2030, with a total investment of 3-40 billion euros in projects. The auction will target floating wind farms with turbines in the deep sea, where the winds are strong enough to harness more energy than conventional structures on land. Portugal already has a small 25 MW floating wind project off its Atlantic coast, and other utilities have shown interest in developing offshore wind projects in Portugal. There is also strong investment interest in Portugal, with hydrogen plants installed by 2030 doubling or even tripling the forecasted 2.5 GW.

Power Finance Corp plans to increase its loan book exposure to renewable energy projects to 27% by FY2030 (large hydropower projects). To achieve this, spending could rise to Rs 3 trillion over the next seven years. The company has the largest loan portfolio in the renewable energy sector with a renewable energy book of Rs 48,200 crore. Non-performing assets (NPAs) have been reduced due to the resolution of stressed assets and the financial discipline brought about by National Disco. Total technical and commercial loss has improved to 16.5% in FY22.