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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.

Sterlite Power has secured an order for the Rajasthan REZ Ph-IV: Part B transmission project, which will deliver 8 GW of renewable energy to the states of Rajasthan, Haryana and Uttar Pradesh. The project will see around 8,000 MW of renewable energy flow from renewable energy-rich Bikaner to load centers in Rajasthan, Haryana and Uttar Pradesh. Sterlite Power will build the project on a 35-year BOOT basis.

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.

A study by the Council on Energy, Environment and Water (CEEW) shows significant differences in carbon dioxide emissions between average income earners in developed countries and the richest 10% of people in developing countries. The study suggests that developed countries, including China, should adopt a sustainable lifestyle and allocate carbon space to developing countries. Research shows that encouraging the wealthiest people to adopt low-carbon lifestyles could lead to significant emissions reductions and carbon taxes.

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