RSS

Tag Archives: Wind

$300 billion investment in GCC water projects

JEDDAH – Spurred by a buoyant economy and population growth, over $300 billion will be invested in the GCC water and desalination projects, between 2012 – 2022 periods, researchandmarkets.com reported Friday.

Subsequent to its revolutionary discovery of hydrocarbons about three decades back, the GCC economies have come a long way into establishing themselves as a fast developing region boasting modern amenities and facilitating high standards of living.

It said the GCC have increased spending on job creation and infrastructure expansion and are opening up utilities to greater private sector involvement.

While privatization occupies centre stage in the overhauling process of the power and water sector, the initiatives toward alternative energy sources in the form of solar and nuclear power, as alternatives to the heavy dependence on the hydrocarbons sector, particularly to replace natural gas as a primary fuel in power generation, has been considered a highlight of the regional power reforms

The emergence of alternative power sources will enable GCC nations to successfully diversify their economic growth from a predominantly oil based economy thus bracing themselves against future adversities arising from oil fluctuations, the report noted. Renewable energies are about to capture a considerable segment of the global energy mix. This segment is only likely to grow given rising demand for energy, supply worries with regard to fossil fuels and environmental concerns. In particular solar energy offer huge potential for the GCC countries.

Rising domestic energy needs for power generation and desalination, favorable conditions for solar energy production and interest in acquiring technological know-how make a perfect argument for renewable energy in the Gulf.

All six nations of the GCC have either embarked upon or committed to investments in solar projects, with projects split between solar photovoltaic and solar thermal applications.

The GCC region also has considerable wind resources, even though these vary widely across the countries and wind installations are at a less developed stage than their solar counterparts.

Advertisements
 
Leave a comment

Posted by on April 14, 2012 in Solar, Water, Wind

 

Tags: , , , , , , ,

China Increases Solar Power Development Target by 50%

China’s National Energy Administration announced ambitious new development targets for solar and wind energy.  By 2015, China aims for 15GW solar capacity and 100GW of wind capacity, according to data from the National Energy Administration.

China’s solar power target has increased 50% from its previous development plan.  Solar installations in China have notably increased after the government finalized grid feed-in-tariff programs in July, encouraging developers to put projects into operation before the end of the year.

The nuclear power crisis at Japan’s Fukushima Plant has spurred Chinese interest in solar.  Although the nation boasts the world’s top spot in photovoltaic production and exports, thus far its domestic installations have been lagging behind other nations, such as the United States and Germany.

If China is successful in its development agenda, the country will experience a remarkable increase in solar capacity – 15GW by 2015 up from just 1GW at the end of 2010 – which could ensure its place as one of the world’s major market forces.

Read the full article here…

 
Leave a comment

Posted by on December 19, 2011 in Clean Energy, Policy, Solar

 

Tags: , , , , , , , ,

Clean Energy, Efficiency and Smart Energy Technologies Achieve Trillion Dollar Global Investment Mark

As we come to the close of what has been a challenging year for the global economy, we are pleased to report positive news in the clean energy investment sector.

Bloomberg New Energy Finance (BNEF) data shows that for the first time ever, investments in clean energy are surpassing investments in new fossil fuel power.  The clean energy sector recently received its trillionth investment dollar since BNEF record-keeping began in 2004.

2010 saw $187 billion of investment capital funneled into wind, solar, wave and biomass projects, compared with $157 billion for natural gas, coal and oil.

Since 2004, annual clean energy investment has increased nearly five times over, from $52 billion in 2004 to $243 billion in 2010; achieving a compound annual growth rate (CAGR) of 29%.  Over the next eight years, BNEF predicts that figure will double, reaching $395 billion a year by 2020.

“The trillionth-dollar milestone shows that the world is not waiting for a deal on climate in order to start turning the super-tanker away from fossil fuels,” said BNEF chief executive Michael Liebreich, referring to the recent climate conference in Durban, South Africa.

“It should serve as a message to the UN and all those in Durban to stop obsessing about a binding deal to cap carbon emissions, and to think much harder about how to speed up investment in the solutions. Another five years of investment growth at the same compound rates, and the world will have broken the back of emissions growth.”

Despite the general economic malaise and continued sovereign debt problems in the European Union, spending in clean energy has been resilient.  Falling costs and favorable government policies have sped up the pace of wind and solar power installments in places such as China, South Korea, Germany, Italy and the Middle East.

Year after year, actual annual investment levels in clean energy have consistently been higher than predicted investment levels.  Last year was no exception.  Despite somewhat lowered expectations early on, a record $243 billion was invested  in clean energy around the world in 2010.

Read more here…

 

Tags: , , , , , , , , ,

Brazil: Wind Could Be Second Largest Power Generation Source by 2015

Brazil is making a serious entrance into the global wind power market.  Based on new government energy plans, in a few short years, wind could become the second largest power generation source in the country.

The Brazilian government plans to boost installed wind capacity to 11.5GW by 2020 – a significant increase from the 1.5GW installed today.  A series of auctions will open 6GW worth of wind farm opportunities to the global marketplace by 2015.

To encourage sector growth, the government will offer tax breaks and cheaper financing rates to wind developers, a fact which has not been lost on global wind giants Gamesa, Iberdrola, Vestas and Alstom, all of whom have professed a strong interest in Brazilian wind investments.  Brazil’s plans are so aggressive that wind may very well leap ahead of natural gas to become the country’s second largest source of power generation, following hydroelectric power, by 2015.

Cost reductions as a result of technology developments have made wind’s future particularly rosy in Brazil.  Data shows it is now 70% cheaper to build a wind farm in Brazil than it was 7 years ago. Brazil is now able to invest in the industry at a level which did not make economic sense in the past.

“In Brazil we have large renewable resources, first hydro and then wind and biomass so we prefer to invest in sources that bring good power prices to consumers,” remarked Elbia Melo, CEO of the Brazilian Windpower Association. “The government wants consumers to get the best power price, and they can definitely do this with wind now.”

Brazil has become the “world’s most coveted wind power market,” says Melo.  “China purchases everything it needs to build its own farms domestically while India buys from China, so European and U.S. developers are left with Brazil as the only real viable market.”

Read the full article here

Read additional posts on wind power here

 
Leave a comment

Posted by on November 29, 2011 in Clean Energy, Policy, Wind

 

Tags: , , , , ,

Investment in Clean Energy May Double to $395bn by 2020

Bloomberg New Energy Finance predicts strong growth in solar and off-shore wind energy may propel annual investments in clean energy to double by 2020, reaching an estimated $395 billion a year. By 2030, that figure may rise to $460 billion annually.

Within 20 years, the percentage of total world power generation supplied by clean energy may rise to 15.7% up from 12.6% last year.  This growth will continue despite the gloomy economic environment.

“Big winners over the next 20 years will be the emerging renewable energy hubs in Latin America, Asia, the Middle East and Africa – by 2020 the markets outside of the European Union, U.S., Canada and China will account for 50% of the global annual investment in renewable energy capacity,” said Guy Turner, director of commodity research.

The world’s current major players – China, Europe, The United States and Canada – will continue their investments in the sector.  China was the world’s leader in new clean energy investment last year with $51.1 billion, by far the largest expenditure of any country.

In 2009, Asia and Oceania overtook the Americas in terms of regional clean energy spending, and by 2014, it is likely to leap over the Europe, the current leader.

The most rapid growth in spending rates will come from India, the Middle East and Africa, where rates will grow between 10% – 18% over the next decade.  Emerging energy technologies are rising significantly in the world’s emerging markets.  We believe this trend is integral to our clean energy investment strategy.

Read the full article here

Read more about Investing in Clean Energy

 
 

Tags: , , , , , , , , , , ,

Germany throws down the gauntlet in renewable energy race

Germany to invest heavily in Renewable Energy and Energy Storage
Following Germany’s decision to abandon nuclear power which currently provides over 28% of the country’s electricity, the German Development Bank (KFW) is to underwrite renewable energy and energy efficiency investments in Germany with $137.3 billion over the next five years. The loans and projects are designed to underwrite a broad array of energy areas, including energy efficiency and smart grids, as well as wind and solar energy generation.
Germany’s aggressive push into renewable energy will doubtless be watched by other industrialized societies from Tokyo to Washington.

Read more

 

Tags: , , , , , ,

New Japanese turbine design to drastically reduce cost of wind power

A technology breakthrough from Japan’s Kyushu University may result in steep declines in the cost of wind power, bringing it below that of nuclear energy.

The innovative new design, called the ‘wind lens’, could result in triple the power output of a conventional wind turbine. Falling component costs have already helped to reduce the price per MW of wind power, but with this new technology advance that trend could accelerate.

In some places in the United States, such as the TWE Carbon Valley project in Wyoming, wind power is already cheaper than coal – $80 per MWh for wind vs. $90 per MWh for coal.  What’s more, government subsidies are not necessary to achieve this cost differential.

With its nearly 2.2 million square kilometers of high wind potential locations, the United States has been called the “Saudi Arabia of wind.”  In terms of total wind energy potential, the United States ranks #3 in the world, says the International Clean Energy Analysis (ICEA).

Click here for an in-depth, interactive look into the energy resources of the United States, courtesy of the ICEA

 
Leave a comment

Posted by on October 11, 2011 in Clean Energy, Wind

 

Tags: , , , , , ,

 
%d bloggers like this: