EU to pump in $1.8bn investment in energy transition projects

The EU announced €1.8bn ($1.8bn) of funding for 17 large-scale renewable energy and decarbonization projects. The projects include hydrogen, renewable power generation and advanced biofuels projects. Collectively, the projects could save 136mn t/CO2 equivalent over their initial decade of operations. Successful applicants include three hydrogen projects, two of which could produce around 70,000 t/yr combined,

India and Brazil agreed to work together for bioenergy

India andBrazil have agreed to work towards developing an Indian-Brazil Alliance for Bioenergy and Biofuels along with the establishment of a virtual India-Brazil Centre of Excellence on Ethanol. Both countries have also agreed on a concerted effort to position sustainable bioenergy and biofuels as integral parts of the global energy transition, especially for transport, industry,

IOC, L&T, and ReNew form JV for green hydrogen

Indian Oil Corporation (IOC), Larsen & Toubro (L&T), and ReNew Power have formed a joint venture (JV) company to develop the nascent green hydrogen sector in India. Additionally, IndianOil and L&T have signed a binding term sheet to form a JV with equity participation to manufacture and sell electrolyzers used in the production of green

Proton motor introduces emission-free fuel cell drives for maritime mobility

Europe’s leading hydrogen fuel cell producer Proton Motor Fuel Cell GmbH enables ship and maritime manufacturers to implement climate-neutral fuel cell propulsion systems for the inland and offshore sectors. The company specializes in modular systems “Made in Germany” and uses graphitic bipolar plates, as only these meet the technical and commercial performance requirements of the

India aims to achieve half of the energy capacity using non-fossil fuel

While speaking at a webinar on ‘Energy for Sustainable Growth’, P M Narendra Modi stressed India’s aim to achieve 50% of its installed energy capacity through non-fossil fuels by 2030 in a bid to promote sustainability and reduce the country’s dependence on imported oil. His remarks came at a time when international crude oil prices

Spike in oil prices may not be good for energy transition

Currently, oil prices have touched more than $100 a barrel, moreover Russia’s war in Ukraine accentuating the risk of relying on fossil fuel. It seems to be a great time to accelerate the transition away from the polluting fuel. But, the reality isn’t so simple. Public support for climate action has attained greater attention across

Shell’s carbon capture plant creates more emissions than it captures

Oil giant Shell’s Quest plant has been designed to capture carbon emissions from oil sands operations and store them underground to reduce carbon emissions. However, according to a recent study by the human rights organization Global Witness, the facility actually emits more greenhouse gas emissions than it captures. Since 2015, it has prevented the release

NetZero by 2050 needs $9.2 trillion annual investment

The energy transition will be a very expensive and complicated endeavor in which different countries and regions will be unevenly impacted, analysts and forecasters have been saying for years.  The world cannot just flip the switch off on the current energy systems and start running on renewables, however noble, emission-reducing, and climate-protecting this sounds.  As

Global energy transition to cause short-term economic pain

The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will generate jobs,

South Korea’s move to label LNG as green fuel buys time for energy transition

South Korea’s move to include LNG in its taxonomy for green fuels will buy the country more time to transition to a net zero economy and help allay immediate concerns about energy security given its heavy dependence on gas for power generation. Government officials said that Seoul will prioritize the reduction of coal consumption for