Grenergy Renovables plans to invest 2.6 billion euros in 2026, of which 1.5 billion euros will be used for photovoltaic power generation and 800 million euros for battery energy storage. The company aims to have 5 GW of solar capacity and 4.2 GWh of energy storage by 2026. Chile is key to the expansion of the energy storage industry, with the world's largest Atacama Oasis project. The project is expected to be completed within three years and will contribute to network stability and decarbonization. Grenergy has signed a 15-year power purchase agreement with Chilean company EMOAC.

The International Monetary Fund (IMF) has warned that to achieve net-zero emissions by 2050, green investment will need to increase fivefold, from $900 billion in 2020 to $5 trillion per year in 2030. Emerging and developing countries need US$2 trillion per year, a fivefold increase from 2020. The private sector will need to provide much of the financing for these low-carbon investments. The IMF guidance comes ahead of the COP28 conference in Dubai, where policymakers and governments will discuss future climate mitigation strategies. More than 80% of the 50% emissions reduction target by 2030 can be achieved through existing technologies.

Hungary and Slovenia have agreed to build the first gas pipeline between the two countries, while Greece and North Macedonia are completing preparations for their first gas interconnector. This would provide alternative supply routes and allow Hungary and North Macedonia to import liquefied natural gas (LNG), which is becoming the main alternative to Russian gas. Another natural gas interconnector between Serbia and Bulgaria is nearing completion.

Leaders from more than a dozen African countries will gather in Germany for the G20 Africa Compact meeting to promote private investment in Africa. The summit, chaired by German Chancellor Olaf Scholz, aims to coordinate the development agenda and discuss investment opportunities. The event will include bilateral talks with African countries and a Germany-Africa Investment Summit. Germany aims to diversify supply chains, secure a skilled workforce, reduce illegal immigration and achieve a green transition.

The European Investment Fund (EIF) invested 125 million euros in the "Green Energy Solutions Fund" operated by Sustainable Development Capital (SDCL) to establish power projects in places such as hospitals and data centers to reduce energy waste. The investment helped the fund reach its fundraising target of 650 million euros ($707 million) last month. The EIF aims to advance the EU’s policy priorities to combat climate change and deploys 66% of its capital across the EU’s 27 member states.

Europe's electricity grid is becoming a major bottleneck in absorbing Europe's rapidly expanding renewable energy, the electricity lobby says. The grid is designed to handle capacity in excess of demand, creating a slack space in the system that allows for the growth of clean energy production. This has resulted in a slew of renewable energy projects waiting to be connected to the grid, with Spain and Italy each having more than 150 GW of wind and solar capacity waiting to be connected to the grid. The European Commission is drawing up plans to push for more grid investment, while companies are restructuring networks to send power in different directions.

Eurelectric reports that 2022 will see a major shift in the EU energy sector as a result of Russia's invasion of Ukraine causing soaring gas prices. Energy bills for medium-sized households increased by 14.5%, and new retail contracts in European capital cities increased by 76%. The government spent 646 billion euros on households and businesses, but energy-intensive industries such as aluminum, zinc and silicon manufacturing were forced to halt production. European power companies have criticized a disconnect between oil and gas companies and regulatory priorities, pointing to the need for increased investment and infrastructure to triple electrification rates by 2050.

A study by the University of Oxford and the Regulatory Assistance Program found that heat pumps are several times more efficient than oil, gas or electric heating. The study, published in the journal Joule, found that heat pumps operate two to three times more efficiently than combustion heating or resistive heating technologies. Heat pumps harness nature's energy and take advantage of temperature differences, with the coefficient of performance (COP) being the main indicator of efficiency. The study also found that even air source heat pumps are suitable for sub-freezing temperatures, making them twice as efficient as electric heating systems.

Hinduja Renewables has won the bid for a 250 MW solar power project from India's state-run NHPC. The project, which includes a 3,000 MW Interstate Transmission System (ISTS) connected solar power project, aims to reduce carbon emissions equivalent to over 5,51,000 tonnes annually. Hinduja Renewables was one of the eight successful bidders in the tender.

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. 

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 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.

The EU is working to replace Russian gas with liquefied natural gas (LNG), with Greece aiming to become a regional hub. Romania and other Southeast European countries are also interested in participating in this process. Romania's state-owned transmission system operator SNTGN Transgaz has agreed to acquire a 15% stake in Mediterranean gas company Argo's project, which aims to process 4.6 billion cubic meters of liquefied natural gas per year. Transgaz recently took over the Moldovan national gas transmission system.

The Ministry of New and Renewable Energy (MNRE) has issued directives requiring strict compliance with Domestic Content Requirement (DCR) guidelines for solar photovoltaic power projects under MNRE schemes/schemes. The directive comes amid concerns about possible abuse of the policy, misdeclaration and import of solar cells in DCR projects. Violations may result in criminal cases, blacklisting, confiscation of bank guarantees and disciplinary action against the officials involved. MNRE encourages domestic manufacturing and urges all stakeholders to adhere to the policy.

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.

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.

The Biden administration plans to complete its ambitious offshore wind leasing program next year, despite preparation delays and sluggish industry demand. The administration aims to install 30 gigawatts of offshore wind power by the end of the century to help decarbonize the U.S. power industry. The Interior Department has held auctions in four areas of the United States, including New York and New Jersey, the Carolinas, California and the Gulf of Mexico. The remaining three regions will take place in 2024. If the government fails to complete these auctions by the end of the third quarter of 2024, it could face additional hurdles, as federal law requires offshore wind lease auctions to take place within 12 months of the auction closing. Recent Oil & Gas Lease Sales.

Minnesota officials approved expansion plans for the Xcel Energy Sherco Solar project that will become one of the largest in the nation. The expansion will add a 250-MW array to the 460-MW array, with all phases expected to be completed by 2025. The project, with a total capacity of 710 MW, will power more than 150,000 homes annually. Xcel plans to close its three coal-fired power plants in Becker in 2030.

Sterlite Power has acquired Beawar Transmission Ltd to undertake power transmission projects in Rajasthan. The special purpose vehicle (SPV) was awarded to Sterlite Power through a tariff-based competitive tender in August. The company will build the green energy corridor project on a build, own, operate and transfer (BOOT) basis for a period of 35 years. This is Sterlite Power’s 19th transmission project in India and manages projects worth Rs 12,000 crore.

Adriadiesel d.d. is the successor of the former diesel engine factory Jugoturbina and continues the tradition of producing diesel engines, spare parts and other equipment. We offer machining services for parts made of alloy and steel materials - standard up to a weight of 25t, exceptionally up to max. 70t, the service of heat treatment of annealing positions of large dimensions can be carried out in our large annealing furnace (6.5 m length / 3.5 m width / 2.5 height), we can offer heat treatment services of positions: hardening, improvement, cementation, nitriding , annealing as well as welding services by MAG, MIG, TIG, REL procedures performed by certified welders.

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