News

Renewable Energy

Kimberly Redmond | Equities.com |

Former BP plc (NYSE: BP) chief executive officer and soon-to-be-retiring Glencore plc (OTC: GLNCY) chairman Tony Hayward is launching a new special purpose acquisition company (SPAC) focused on clean energy projects in Europe.

According to Sky News, Hayward's Energy Transition Partners seeks to raise 175 million euros ($207 million) with a listing on the Euronext Amsterdam stock exchange.


Kimberly Redmond | Equities.com |

The US Department of Energy (DOE) is allocating $27 million in federal funding for the research and development of projects focused on converting energy more efficiently from waves into carbon-free electricity.

In a press release, the DOE said the resources are intended to “advance wave energy technologies toward commercial viability” and support the Biden Administration’s clean energy goal of net-zero emissions by 2050.


Reuters | Equities.com |

U.S. natural gas producers hope climate-conscious electric utilities and gas exporters will pay a premium for what they say is "greener gas" that has been certified as coming from low-emission operations or from renewable sources such as landfills.

EQT Corp, Chesapeake Energy and liquefied natural gas firms Cheniere Energy and NextDecade Corp are among the companies considering low-carbon certifications from groups such as Denver-based Project Canary. Gas certified as "responsibly produced" and contributing less emissions could get up to 5% above market prices, or up to 15-cents per thousand cubic feet (mcf), proponents say.


Reuters | Equities.com |

Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals.

More of the $1.9 trillion in investment is projected to shift toward electricity than ever, with more than $820 billion due to earmarked for power - the sixth year in a row it will outstrip investment in traditional oil and gas.


AP News | Equities.com |

World leaders joined President Joe Biden at the virtual climate summit Friday to share their stories how nations can break free of climate-damaging fossil fuels — from Kenyans leapfrogging from kerosene lamps to geothermal power and Israeli start-ups scrambling to improve battery storage.

“We cannot win this fight against climate change unless we go globally to fight it together,” declared President Uhuru Muigai Kenyatta of Kenya.


Reuters | Equities.com |

Three environmental groups filed a false advertising complaint against Chevron with the Federal Trade Commission on Tuesday, alleging that the U.S. oil major has overstated its investment in renewable energy and actions to curb greenhouse gas emissions.

The groups - Global Witness, Greenpeace and Earthworks - said their complaint is the first to petition the FTC to use its “Green Guides” against an oil company for misleading consumers about its actions to combat climate change. The commission’s 2012 guidelines aim to prevent companies from making false environmental claims.


Reuters | Equities.com |

India’s largest renewable energy firm ReNew Power on Wednesday agreed to go public through a merger with blank-check firm RMG Acquisition Corporation II, in a deal that values the merged entity at roughly $8 billion.

The deal will be financed with cash proceeds of $1.2 billion, including investments of $855 million from investors including serial blank-check dealmaker Chamath Palihapitiya, funds managed by BlackRock and Sylebra Capital among others.


Kimberly Redmond | Equities.com |

As its oil output declines from a 2019 peak, Royal Dutch Shell is planning to gradually transition away from the use of fossil fuels and expand its renewables and low-carbon business.

On Thursday, the multinational company shared a wider update on its pledge last year to become a carbon neutral business by 2050, a plan that chief executive officer Ben van Beurden said “will drive down carbon emissions and deliver value for our shareholders, our customers and wider society."


Kimberly Redmond | Equities.com |

Amazon.com Inc unveiled plans Monday to buy half of the energy produced by a huge new subsidy-free wind farm in the Netherlands.

The e-commerce giant said it reached a deal with The CrossWind consortium, a joint venture between Royal Dutch Shell and Mitsubishi Corp’s sustainable energy company Eneco, to purchase green energy, which will help Amazon reach its goal of net-zero carbon emissions by 2025, five years before its target.


Kimberly Redmond | Equities.com |

The Republic of Korea announced a 48.5 trillion won ($43.2 billion) plan to build the world’s largest wind power plant by 2030, a project that government officials said will help reduce the country’s reliance on fossil fuels and further its goal of achieving carbon neutrality.

The project announced Friday by President Moon Jae-In calls for the construction of the wind farm off the southwestern coast, by Sinan, that will have a maximum capacity of 8.2 gigawatts, Reuters reported.