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.

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.

Japan's wind power agency has set a mid-century goal of increasing installed capacity to 140 gigawatts (GW) by 2050 to meet a third of the country's electricity needs and help it achieve carbon neutrality by 2050 and target. JWPA aims to install 40 GW of onshore wind farms, 40 GW of bottom-fixed offshore wind farms and 60 GW of floating offshore wind farms. These installations will have an economic knock-on effect of 6 trillion yen per year by 2050, creating 355,000 jobs and reducing fossil fuel procurement costs.

Jinko Solar Co Ltd sold its Xinjiang subsidiary to Ziyang Major Industry Equity Investment Fund and Dong Shihong for 4.3 bn yuan ($622.1 mil). The sale is pending an antitrust review by China's State Administration for Market Regulation. The unit reported an unaudited net profit of 139.9 million yuan in the first three months of this year and 152.1 million yuan in audited net profit in 2022.

An international team led by researchers at the Indian Institute of Technology (IIT) Jodhpur has proposed offshore wind farms as an earthquake-resistant alternative energy source. The proposed methodology involves the estimation of nuclear reactor coolant power requirements, the design of offshore wind turbines, and seismic safety assessments. The proposed 15 MW offshore wind farm features three NREL 5 MW turbines supported by monopile foundations to serve as additional emergency backup power to meet the cooling power needs of the existing nuclear power plant. The presented method serves as an excellent framework for assessing the seismic resilience of nuclear power plants and the integration of wind energy resources during interrelated events such as earthquakes and tsunamis.

Brazil burned fossil fuels for electricity generation at the lowest level in more than a decade in February, thanks to a boom in wind and solar power. It was the first time the monthly figure fell below 5% since July 2012, resulting in a 29% drop in CO2 emissions. President Luiz Inácio Lula da Silva has vowed to promote green energy in Brazil and restore the country's leadership in fighting global warming. Hydropower in Brazil is at risk due to the destruction of the Amazon rainforest.

BPCL has approved ethylene cracker project, downstream petrochemical plant and Bina refinery expansion with capital expenditure of Rs 49,000 crore. It has also invested in two 50 MW wind power plants as well as POL and LOBS installations to ensure energy security and sustainability. The investment will strengthen BPCL's position and contribute to economic growth.

The National Thermal Power Corporation (NTPC) Ltd will begin a feasibility study for a 130 MW floating solar power plant on Dumbur Lake in the Tripragomati district. TREDA has signed a Memorandum of Understanding (MoU) with NTPC to carry out the study, which will cost Rs 450 crore within a few months. TREDA has also initiated a process to provide solar energy to interior tribal settlements where traditional electricity supply is not profitable. The advantage of floating solar plants is that the land requirements for the associated evacuation arrangements are minimal. The PM-KUSUM program has successfully implemented 1,659 solar water pumps at a cost of Rs 1.12 billion to ensure energy security for farmers and increase the share of installed non-fossil fuel power generation capacity by 2030.

The World Health Organization declared an official end to the Covid-19 global emergency earlier this month, but supply chain disruptions caused by the pandemic may take longer to subside. That's the prediction of Henrik Andersen, CEO of Vestas Power Systems, one of the world's largest wind turbine manufacturers. While supply chains are stretched, the cost of key items like steel — the main material used in wind turbines — has soared during the pandemic. As a result, profits at Vestas' wind turbine business will roughly halve in 2021 compared to 2020. Getting fully back on track will require continued easing of global supply chains, especially in China, which only eased its Covid-zero policy in December.

Malaysia is lifting a ban on renewable energy exports to develop its clean energy industry and boost power generation from non-fossil fuel sources. Economic Affairs Minister Rafiz Ramli said the ban would help companies build renewable energy generation capacity on a larger scale and take advantage of high demand in neighboring Singapore. Malaysia has pledged to significantly reduce greenhouse gas emissions by 2030 and achieve net zero emissions by 2050. Increasing renewable energy capacity will require an estimated RM637 billion investment by 2050.

Vietnam aims to double its electricity generation by 2030, but has slightly lowered its offshore wind target and will rely heavily on coal until the end of the decade. The target for offshore wind installations in 2030 is set at 6 GW, slightly lower than the 7 GW target included in the draft national power development plan in December. By 2030, hydropower will be the second primary energy source, followed by liquefied natural gas (LNG) and onshore wind. The plan is important to unlock the $15.5 billion green transition fund pledged to Vietnam last December.

Australia's Snowy 2.0 hydropower project is facing delays of up to two years, potentially pushing its start-up until 2028. The delay was due to skilled labor shortages, complex designs, soft ground and supply chain disruptions. The project is expected to add 2,000 megawatts of capacity and store enough energy to power 3 million homes for a week. Construction was suspended in March due to ground collapse.

Renewable energy accounted for 50.3 percent of Germany's electricity consumption in the first three months of this year, according to the BDEW and the Solar and Hydrogen Research Center. Germany wants green energy from solar, wind, biomass and hydropower to make up 80 percent of its energy mix by 2030. Domestic electricity generation fell by 8.3% to 147.5 TWh, with renewables accounting for 47.1%. Conventional energy sources provided 78 TWh.

India is accelerating project installations to meet its target of 500 GW of clean energy generation capacity by 2030. The government plans to auction 15 GW of projects in each of the first two quarters of this fiscal year, followed by 10 GW of project accommodation in the subsequent two quarters. The state-run electricity company will conduct the auction for the government. Rising energy demand is prompting some states to consider new long-term renewable energy deals.

In Europe, 300 industries have set deadlines to reduce carbon emissions. Companies in these industries are leading the cause by transitioning to renewable energy, especially solar. However, transitioning to solar can present challenges due to complexities in regulations, landlords, and the decision-making process. To ensure that all stakeholders understand the end goal and work together to achieve it, it is important to ensure that all stakeholders understand what the end goal is and that they can work together to achieve it. Transitioning to solar requires a solid understanding of the requirements and risk factors involved, including the financial case.

Local partners are important because they understand the regulatory and operating conditions. Solar offers a very attractive ROI over the lifetime of the system, saving many customers millions of dollars.

The Netherlands has been increasing its renewable energy production and reducing greenhouse gas emissions. Dutch Prime Minister Mark Rutte toured the facility in the port of Rotterdam on Wednesday, where huge turbines are transported to sea and incoming high-voltage electricity is converted for industrial use. The share of renewable energy in the overall energy mix in the Netherlands is currently around 16%, compared to 11% in 2020. The government aims to have 21 GW of offshore wind by 2030, with 53% of the electricity used in March 2023 coming from renewable sources, up from 39% in 2022.

Bring-your-own solar consumers in Jaipur are urging the government not to charge them electricity tariffs (ED) and default on electricity bills. Members of the Rajasthan Solar Association, which represents companies such as JK Cement, Hindustan Zinc, Agarwal Woven Polymers, Udaipur Cement Works, ib Vogt Solar India and Reliance Chemotex Industries, said the duty was against the high court order. In September 2021, the Jodhpur judge of the Rajasthan High Court issued a stay order based on discoms' request for captive solar power plants to pay duties. The Department of Energy has removed the ED exemption for these power plants from the solar policy. This will affect the development of solar projects in the state.

The main factors behind the decline were a 29% drop in natural gas consumption and a 3.4% drop in coal demand. The reduction in natural gas consumption in 2022 is due to higher natural gas prices, encouraging consumers to "save gas," according to the DEA on Thursday. In contrast, consumption of petroleum products increased by 5.3%, "mainly due to higher sales of fuel for domestic and international aviation at Danish airports." During the same period, renewable energy consumption increased by 5.3%. According to the DEA, energy production from wind and solar cells could grow 22 percent by 2022 and provide nearly 60 percent of the nation's electricity supply. By comparison, solar and wind will only account for 47 percent of Denmark's electricity supply by 2021, according to Xinhua. Preliminary DEA figures also show that the decline in energy consumption would reduce carbon dioxide emissions from energy consumption by 0.9 percent in 2022.

Japanese businesses and climate groups have called on the government to speed up the introduction of renewable energy and quickly adopt carbon pricing to combat global warming. The Japan Climate Initiative (JCI), a coalition of companies, local governments and NGOs, made the announcement ahead of the G7 climate ministers meeting in Sapporo, Japan, on April 15-16. To achieve the G7 goal of decarbonizing all or most of its power sector by 2035, agreed by the G7 last year, Japan should take appropriate measures and implement regulatory reforms to promote renewable energy, such as accelerating the development of offshore wind and mandating the installation of solar power in new buildings middle. It also called for a reduction in reliance on fossil fuels, such as coal-fired power generation. Japan is rolling out a carbon pricing scheme in stages this fiscal year, combining emissions trading and a carbon tax to encourage companies to curb pollution.

Since the ruling Labor Party came to power in May 2022, Australia has approved 11 renewable energy projects, more than double the five approved by the previous government. Environment and Water Resources Minister Tanya Plibersek said the increase was due to Labor creating an environment of certainty for the private sector through its climate policy. Labor has pledged to cut Australia's carbon emissions by at least 43 per cent from 2005 levels by 2030 and reach net zero by 2050. More than 90 renewable energy projects are awaiting approval from PLibersek. The government has come under criticism for its decision to approve Santos to drill 116 new coal seam gas wells in central Queensland despite environmental concerns.