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☆ European markets head for higher open; BoE rate decision ahead
▼ + stars: | 2024-05-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday, maintaining positive momentum in a busy week of earnings. Ferrovial, Telefonica, EDP, Enel, Pirelli and Salvatore Ferragamo are all due to report today. Elsewhere, the Bank of England is set to publish its latest interest rate decision Thursday. China stocks rose overnight as its imports surged past estimates and exports rose in line with expectations, while the broader Asia-Pacific market was mixed. Meanwhile, futures linked to the Dow Jones Industrial Average hovered near the flatline Wednesday evening after the 30-stock index posted its sixth consecutive winning day.

Persons: Salvatore Ferragamo, it's Organizations: Ferrovial, Telefonica, EDP, Enel, Pirelli, Bank of England, Dow Jones Locations: China, Asia, Pacific

☆ European markets head for higher open ahead of key inflation reports from the U.S. and Europe
▼ + stars: | 2024-02-29 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday as investors look ahead to key inflation reports in both the U.S. and Europe. Stateside, personal consumption expenditures price index data (the U.S. Federal Reserve's preferred measure of inflation) for January is due, and will be watched closely to see how it could affect the Fed's interest rate path. German, Spanish and French inflation data for February is also set to be released in Europe. It's a busy day for regional earnings, with AF-KLM, Veolia, Adecco Group, EDP, IAG, Ocado, ITV, Man Group, Schroders, Covestro and Anheuser-Busch InBev all reporting. U.S. stock futures fell overnight as Wall Street weighed the latest earnings results and looked ahead to the Federal Reserve's favored inflation gauge.

Persons: U.S . Federal Reserve's, It's Organizations: U.S, U.S . Federal, AF, KLM, Veolia, Adecco, ITV, Man, Anheuser, Busch InBev, Federal Locations: Europe, U.S ., Ocado, Asia, Pacific

☆ Urban solar projects are becoming more common in Singapore. Here's how one company is powering the way forward.
▼ + stars: | 2024-02-23 | by ( Sponsor Post | ) www.businessinsider.com time to read: +8 min

EDP Renewables, a leading global renewables player, has its APAC regional headquarters based in Singapore. At street level, most people never see the solar revolution happening right above them — one that generates zero emissions and boosts Singapore's energy security. Singapore's solar ambitionsSingapore is in an obvious position to integrate solar into the national power grid. In 2023, EDP Renewables APAC greened Pulau Ubin's micro-grid with renewables. Singapore has 1 gigawatt (GW) of solar energy in operation, of which EDPR has more than 30% market share of fully-owned installed solar capacity.

Persons: Kris LeBoutillier, he's, Pedro Vasconcelos, Vasconcelos, EDPR, — Pedro Vasconcelos Organizations: EDP Renewables, Public, Housing & Development Board, JTC Corporation, Singapore Technologies, Singapore Authority, SolarNova, EDB, Renewables, EDP, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, Singtel, Jurong Port, Port, Straits, Johor, Malaysia, APAC, 1GWp

☆ Why Singapore is so attractive to business leaders looking to make a real difference in their careers, lives, and the world
▼ + stars: | 2024-01-19 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

This article is part of our "Business for Good" series spotlighting business leaders and companies that are driving meaningful changes from Singapore. Currently based in Singapore, he's serving as our trusted resource for the innovative projects unfolding in one of the world's most advanced and progressive business hubs. The city-state's government is nimble and efficient; the business atmosphere is open and collegial; and the quality of life is unparalleled. NesteSingapore is considered a global business hub thanks to its great sea and air connectivity, developed infrastructure, stable political and regulatory environment, and skilled workforce. Bartholomeusz shares my appreciation for Singapore's public safety.

Persons: Kris LeBoutillier, he's, It's, Steven Bartholomeusz, APAC, it's, José Pedro Borges, Borges, Maya Hari, — Hari, Hari, Terrascope Organizations: EDP Renewables, APAC, Cisco, Google, Microsoft, José Pedro Borges Companies, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, Thailand, Indonesia, New York City, Neste, Neste Singapore, Lisbon, EDPR

☆ EDP: Our energy will be 100% renewable by 2030
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEDP: Our energy will be 100% renewable by 2030Miguel Stilwell d'Andrade, CEO at EDP, discusses the company's commitments to net zero, and the challenges associated with the energy transition.

Persons: Miguel Stilwell d'Andrade

☆ EV charging growth plans slowed by EU's power grid problems
▼ + stars: | 2023-12-04 | by ( Julia Payne | ) www.reuters.com time to read: +6 min

These are due to be implemented in 18 months and include addressing EV charging station power shortages. The ease of building an EV charging hub varies considerably country by country. To do so, it will ban sales of CO2-emitting vehicles from 2035 and wants to develop a network of EV charging stations. "Sometimes we have to send physical mail," said Peter Badik, co-founder of EV charging firm Greenway Network, which has set up 1,300 EV chargers in Slovakia, Croatia and Poland. "There is a clear need for more standardisation (of requirements for charging hubs)," BP's van Dobschuetz added.

Persons: Repsol, It's Kafka, Lucie Mattera, Mattera, Miguel Stilwell de Andrade, Peter Badik, Stefan van Dobschuetz, Dobschuetz, ChargeUp Europe's Mattera, Julia Payne, Alexander Smith Organizations: European Union, European Commission, EV, Reuters, Industry, Greenway Network, BP Pulse, Thomson Locations: BRUSSELS, Germany, Spain, Europe, EU, Slovakia, Croatia, Poland

☆ New ECB rating agency Scope puts greater weight on euro zone protection mechanisms
▼ + stars: | 2023-11-27 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

While the euro zone has pledged to do "whatever it takes" and jointly issued debt for the first time during the pandemic, its debt load remains eye-watering. Scope assigns Italy a "stable" outlook, but "risks remain", Shen said, "given the weak growth and fiscal outlook". Reuters GraphicsNEXT CRISISThe ECB uses the best rating available from its approved agencies to determine a bond's collateral value when commercial banks borrow from it. Last week's Dutch election win by the far-right Geert Wilders could also have rating implications, Shen said. "Governance risks are a challenge in the longer run for one of the world’s remaining AAA-rated sovereigns...But the rating is not imminently at risk."

Persons: Yorgos, Moody's, Dennis Shen, Fitch, DBRS Morningstar, Shen, DBRS, bode, Geert Wilders, Marc Jones, Kirsten Donovan Organizations: REUTERS, Companies, AAA, European Central Bank, Reuters, Reuters Graphics NEXT, ECB, Thomson Locations: Athens, Italy, France, Berlin, U.S, Greece, Spain, Portugal, Cyprus, Rome, Canada, Dutch

☆ From black gold to green power: Texas, weirdly, is leading America's clean energy future
▼ + stars: | 2023-11-21 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +16 min

John DavisDeals like Davis' have made Texas — America's oil capital for more than a century — the top producer of renewable energy in the US. The state has long generated the most wind power and is second only to California as a solar-energy producer. The high-stakes battle for Texas' energy future is a microcosm of how tricky America's green transition is shaping up to be, especially when politics are involved. Slowing down renewable energy could cost Texas in the long term, both economically and socially. The coalition seems to be growing stronger, even as Texas politicians shift further to the right on issues beyond renewable energy.

Persons: John Davis, Davis, Greg Abbott, Critics aren't, there's, George W, Bush, Rick Perry, Abbott, Winter Storm Uri, hasn't, it's, It's, Judd Messer, Madeline Gould Laughlin, Michael Looney, San Angelo Chamber of Commerce Brent Bennett, Bennett, Messer, That's, Enel's Laughlin, Enel, Sandhya Ganapathy, Catherine Boudreau Organizations: Menard, RES, Texas, Republican, Texans, Power Alliance, John Davis Texans, University of Texas, Winter Storm, ERCOT, Bloomberg, Texas Public Policy Foundation, Texas Energy Fund, Advance Power Alliance, San, San Angelo Chamber of Commerce, Chamber of Commerce, ExxonMobil, Chevron, West Texas Chamber of Commerce, Lone Star, EV Locations: North Dakota, Texas, America, Nowhere, Menard , Texas, Concho County , Texas, California, Menard, Austin, San Angelo, Midland , Texas

☆ Renewable energy has tremendous potential, EDP CEO says
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenewable energy has tremendous potential, EDP CEO saysMiguel Stilwell d'Andrade, CEO of Energias de Portugal, says his company sees strong demand and political support for renewables.

Persons: Miguel Stilwell d'Andrade, Energias de Portugal Locations: Energias de

☆ Wind Power Write-Downs Cast Shadow Over Industry Outlook
▼ + stars: | 2023-11-01 | by ( Giulia Petroni | ) www.wsj.com time to read: +5 min

Wind-power developer Orsted scrapped projects in New Jersey citing supply-chain problems and high interest rates. Orsted , BP and Equinor have collectively written off $4.8 billion against U.S. offshore wind projects in recent days. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. Utility Dominion Energy on Tuesday received a key federal approval for its 2.6-gigawatt offshore wind project in Virginia. And Orsted confirmed its final investment decision into Revolution Wind, an offshore 704-megawatt project in Connecticut and Rhode Island.

Persons: Wayne Parry, Orsted, Mads Nipper, henning bagger, ”, Phil Murphy ’, Martin Tessier, Stifel ’, —, Engie, Vattenfall, Russ Mould, AJ Bell, Dominic, Giulia Petroni Organizations: Associated, U.S, Agence France, Republicans, Democratic Gov, ”, BP, Iberdrola, Shell, Business, Siemens Energy, Dominion Energy, giulia.petroni@wsj.com Locations: New Jersey, U.S, Danish, New York, Connecticut, Massachusetts, Swedish, Norfolk, Virginia, Rhode Island, Asia Pacific, Europe

A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. Orsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. In Massachusetts, two offshore wind developers, SouthCoast Wind and Commonwealth Wind, agreed to pay local utilities to terminate deals that would have delivered around 2,400 MW of energy. Avangrid also canceled a contract to sell power in Connecticut from its proposed 804-MW Park City offshore wind farm.

Persons: Tom Little, Denmark's, Joe Biden, Orsted, Jacob Pedersen, Portugal, France's, Avangrid, Scott DiSavino, Louise Breusch Rasmussen, Ron Bousso, Jonathan Oatis, Josie Kao Organizations: REUTERS, BP, U.S, Analysts, Reuters, Commonwealth, Shell, Energias, Thomson Locations: Nysted, Denmark, U.S, Danish, New York, Massachusetts, Connecticut, Rhode Island and Massachusetts, In Massachusetts, Commonwealth, Spanish, Copenhagen, London, Bengaluru

☆ Vivaldi's Four Seasons gets climate change makeover
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

If today someone were to compose 'The Four Seasons' from an absolutely realistic perspective, it would be frankly daring," composer and producer Hache Costa told Reuters. It will be accompanied by projected images of wildfires and other effects of climate change, such as drought. [1/5]Spanish music director Hache Costa rehearses prior to performing an adaptation of Antonio Vivaldi's famous “The Four Seasons” concertos as a screen shows an image of flowers in spring on International Day against Climate Change in Madrid, Spain, October 24, 2023. Scientists have linked searing temperatures and dry and windy conditions in many parts of the world, including southern Europe, to climate change. Ernesto Rodriguez Camino, president of the Spanish meteorology association, said the impact of climate change in Spain was evident.

Persons: Antonio Vivaldi's, Vivaldi, Hache Costa, Hache, Costa, Ernesto Rodriguez Camino, Antoine Demaison, Silvio Castellanos, Andrei Khalip, David Latona, Bernadette Baum Organizations: Reuters, Thomson Locations: MADRID, Spanish, Italian, Madrid, Spain, Europe

☆ New England states join to buy offshore wind power as US industry struggles
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +3 min

By joining forces, the states hope to counter the pain rippling across the nascent U.S. offshore wind industry, which is expected to play a key part in decarbonizing the power sector and revitalizing domestic manufacturing. The three states will seek multi-state offshore wind proposals for selection in 2024 for up to 6,000 megawatts (MW) of power. “One year ago, Avangrid was the first offshore wind developer in the United States to make public the unprecedented economic headwinds facing the industry," Avangrid said in a release. Avangrid has said it planned to rebid the Park City project in future offshore wind solicitations. Those Massachusetts power companies include units of Eversource Energy (ES.N), National Grid (NG.L) and Unitil (UTL.N).

Persons: Brian Snyder, Maura Healey, Avangrid, France's, Scott DiSavino, Aurora Ellis Organizations: REUTERS, American, Offshore WINDPOWER Conference, Eversource Energy, Grid, Shell, Thomson Locations: Rhode, U.S, New England, Massachusetts, Rhode Island and Connecticut, Connecticut, Boston, Park City, United States, Park

☆ 'Fertile ground': Goldman names stocks to tap a $6 trillion renewables market, gives one 58% upside
▼ + stars: | 2023-10-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

"This would suggest very fertile ground for the Green Energy Majors," they said, referring to the major stocks. Revisiting green energy stocks Goldman said these buy-rated stocks are among the "most interesting names": German offshore wind power generation company RWE . Goldman's price target: 54 euros ($56.60), giving it an implied upside of about 58%. Goldman's price target: 5.25 euros, giving it an implied upside of about 37%. Spanish solar energy firm Solaria : Goldman's price target: 17.5 euros, giving it an implied upside of about 24%.

Persons: Goldman Sachs, Goldman, Michael Bloom Organizations: Green Energy Locations: Europe, United States, U.S, Portuguese, Spanish

☆ Biden’s offshore wind target slipping out of reach as projects struggle
▼ + stars: | 2023-09-15 | by ( Nichola Groom | ) www.reuters.com time to read: +7 min

The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050. The energy research firm expects 21 GW of offshore wind along U.S. shores in 2030, breaking 30 GW by 2032. Still, offshore wind developers including Orsted have said the IRA’s subsidies are insufficient for projects to thrive in the current environment, and are lobbying the administration for additional concessions. The nation currently has just two pilot-scale offshore wind farms capable of producing 42 megawatts of electricity. Stephanie McClellan, executive director of the offshore wind advocacy group Turn Forward, said making sure the first fleet of projects succeeds was more important than a particular timeline.

Persons: Brian Snyder, Joe Biden’s, Biden, Kris Ohleth, It's, Samantha Woodworth, Wood Mackenzie, Michael Brown, France's, it's, Kelly Penot, Rousseau, Orsted, Michael Kikukawa, Samah Shaiq, Shaiq, Doreen Harris, NYSERDA, Elizabeth Mahony, Stephanie McClellan, Nichola Groom, David Gregorio Our Organizations: REUTERS, BP, Shell, Companies, Developers, Ocean Winds, Reuters, Biden, U.S . Department of Energy, DOE, New York State Energy Research, Development Authority, New York State Department of Public Service, Equinor, Orsted . Massachusetts Department of Energy, Office of Energy, Environmental Affairs, New, New Jersey Board of Public Utilities, Thomson Locations: Rhode, U.S, North American, Massachusetts, Gulf of Mexico, Europe, Asia, China, United Kingdom, New Jersey, New York, Orsted .

☆ Factbox: US offshore wind projects facing inflation headwinds
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +10 min

One megawatt (MW) can power about 1,000 U.S. homes but since wind is an intermittent resource - 1 MW of offshore wind can power about 500 U.S. homes, according to offshore wind developers. SOUTH FORKDenmark's Orsted (ORSTED.CO), the world's largest offshore wind power developer, is building the 132-MW project off Rhode Island and Massachusetts. COMMONWEALTH WINDThe 1,232-MW project off Massachusetts, which was formerly a part of the larger New England Wind project, is also facing potential delays. ATLANTIC SHORES OFFSHORE WIND SOUTHThe joint venture between Shell and French EDF is developing a large offshore wind park off New Jersey. MARWINMaryland's first offshore wind project is expected to start operations in 2025-2026.

Persons: Joe Biden, Kevin Lamarque, Joe Biden's, GW, Lazard, Vineyard, Orsted, Eversource, NYSERDA, Norway's Equinor, Avangrid, MARWIN, Nerijus Adomaitis, Nichola Groom, Scott DiSavino, Marguerita Choy Organizations: Federal, State, White, REUTERS, U.S, U.S . Department of Energy, Reuters, Washington , D.C, U.S . Energy Information Administration, Avangrid, Copenhagen Infrastructure Partners, Public Service Enterprise, Orsted, Eversource Energy, Rhode Island Energy, Dominion Energy, Virginia Beach, Dominion, NYSERDA, COMMONWEALTH, Shell, EDF, US, Italy's Renexia SpA, US Wind, Thomson Locations: Washington , U.S, U.S, New England, New York, Pennsylvania, Washington ,, Spanish, Copenhagen, Rhode Island and Massachusetts, New Jersey, Rhode, Connecticut, Orsted, VIRGINIA, Virginia, York, Long, Montauk, Massachusetts, French, ATLANTIC, Atlantic Shores, Italy's Renexia, Maryland

However, as government policies started to line up in the industry's favor in recent years, offshore wind developers unveiled a host of new project proposals, mostly off the U.S. East Coast. Many contracts for offshore wind projects have no mechanism for adjustment in the case of higher interest rates or costs. In New York, offshore wind developers also sought to boost the price of power produced at their projects. Norway's Equinor EQNR.OL and its partner BP (BP.L) are seeking a 54% increase for the power produced at three planned offshore wind farms - Empire Wind 1 and 2 and Beacon Wind. But the offshore wind industry is not fully satisfied.

Persons: Joe Biden, Kevin Lamarque, Eli Rubin, Rubin, Equinor, France's, Scott DiSavino, Nerijus, Nichola Groom, Simon Webb, Marguerita Choy Organizations: Federal, State, White, REUTERS, U.S ., Dominion, EBW Analytics, Reuters, U.S . Federal Reserve, Commonwealth, BP, Nichola, Thomson Locations: Washington , U.S, U.S, Europe, U.S . East Coast, Rhode, Virginia, Massachusetts, New York, Oslo, Culver City

☆ Focus: Colombia's potential renewables boom short circuits on Indigenous resistance
▼ + stars: | 2023-08-15 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +7 min

Solar photovoltaic array is seen at a solar power field of the company Celsia, in Yumbo, Colombia, February 6, 2019. Joanna Barney, a researcher at non-governmental organization Indepaz said she was aware of the deaths associated with conflicts over renewables projects. Renewables - even if ostensibly more environmentally-friendly - are facing hurdles similar to those confronted by oil and mining companies, long Colombia's top sources of income. Wind and solar provide less than 1% - about 300 megawatts - of Colombia's current energy generation. "The projects aren't operating and it doesn't seem like they will start in the next two years," said Alejandro Lucio of Optima Consultores, which advises renewables companies.

Persons: Julia Symmes Cobb, Gustavo Petro, Italy's, Petro, Jose Silva, Silva, Enel, Colombia Erik Hoeg, Hoeg, Joanna Barney, Indepaz, Alexandra Hernandez, Alejandro Lucio, Optima, Nelson Bocanegra, Christian Plumb Organizations: REUTERS, University of La, EDP Renewables, Brookfield Asset Management, AES, El, Nacion, Reuters, Renewables, Colombian Renewable Energy Association, Thomson Locations: Yumbo, Colombia, BOGOTA, Colombia's La Guajira, Guajira, University of La Guajira, Energi, Brookfield, La Guajira, Colombia's, Europe, Chile, Mexico

☆ Goldman: The market is missing these 'highly compelling' global stocks — and 2 are on its conviction list
▼ + stars: | 2023-07-26 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs has named a number of European renewable energy stocks it says the market is missing — and says it expects the sector to bounce back after a period of declining returns. The growth in renewable energy is "highly compelling," the bank said, owing to the European energy crisis, a decline in costs for wind and solar energy, and the European Union's focus on mitigating climate change. "RWE is among the best-placed [renewable energy storage] developers to capture the expanding addressable market in the US, Germany and the rest of Europe," the analysts stated. As the pipeline builds we expect the company to unlock further value," the analysts stated. Conviction list stocks Two of Goldman's stock picks are on its conviction list of most favored stocks.

Persons: Goldman Sachs, Alberto Gandolfi, Goldman, Enel, — Organizations: EDP Renewables, ENEL, Scottish, Renewables, LevelTen Energy Locations: Orsted, US, Germany, Europe

This brings the total impairments related to Russia to almost 700 million euros, Danone said. The adjustment on the balance sheet of 500 million euros to reflect the negative currency transaction difference will also be recognized by Dec. 31, it added. Danone also reported a better-than-expected rise in quarterly like-for-like sales, as it increased prices again to make up for rising costs. Like-for-like sales rose 6.4% in the second quarter, beating expectations for 5.6% growth in a company-compiled consensus of 18 analysts. ($1 = 0.9047 euros)Reporting by Richa Naidu; Editing by Edmund Klamann, Muralikumar Anantharaman and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Danone, Richa Naidu, Edmund Klamann, Muralikumar Anantharaman, Conor Humphries Organizations: France's Danone, Danone, Evian, Nestle, Thomson Locations: Russia, Russian, Ukraine

SAO PAULO, June 30 (Reuters) - Power grids around the world are not yet ready for the so-called flying car, an executive with Brazilian start-up Eve Air Mobility (EVEX.N) told Reuters, adding that the electric aircraft maker is in talks with power providers to bridge the gap. Eve's Services & Operations Solutions Vice President, Luiz Mauad, said the nascent industry does face challenges when it comes to the power supply the electric aircraft needs to recharge. But he expressed optimism they would be overcome in time for Eve to meet its target of starting commercial operations in 2026. Mauad said Eve has been talking to global power generators and distributors about making infrastructure adequate for the electric vertical take-off and landing aircraft (eVTOLs), including the so-called vertiports they would take off from. "But there is still the 'final mile' challenge so that power can get to the vertiports."

Persons: Luiz Mauad, Eve, Mauad, Eve's, Gabriel Araujo, Rosalba O'Brien Organizations: SAO PAULO, Mobility, Reuters, Services, Operations, planemaker Embraer, EMBR3, Thomson Locations: Brazilian, Brazil, United States, India, France

☆ Biden to host EU chief as Europe hopes to avoid subsidy race with the U.S.
▼ + stars: | 2023-03-08 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

President of the European Commission, Ursula von der Leyen (L) speaks with US President Joe Biden. President Joe Biden will welcome Ursula von der Leyen to the White House this week, with the European Union's top official eager to gain concessions amid a tense subsidy spat between the two giant trading blocs. "We want to achieve as much non-discriminatory treatment for EU products and companies as possible, avoiding distortions of the level playing field," a spokesperson for the European Commission, told CNBC via email Friday. This could ultimately mean less innovation in Europe and fewer jobs for Europeans too. "I do not think [European Commission President Ursula] von der Leyen will manage to extract meaningful concessions from the U.S. on the IRA.

☆ Renewable energy company discusses the 'full circle' of the planned transition to net-zero
▼ + stars: | 2023-03-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenewable energy company discusses the 'full circle' of the planned transition to net-zeroPedro Vasconcelos of EDP Renewables says solar energy is increasingly "part of the solution," as are storage and hydrogen.

Summary Customs delays, tariff uncertainty and soaring global demand have hiked solar costs and delayed projects as the U.S. weans itself off Chinese dependence. The Biden administration's Uyghur Forced Labor Protection Act (UFLPA) prevents the import of goods produced using forced labour in China’s Xinjiang Province, including much of the polysilicon used in solar panels. UFLPA checks have blocked panel imports at the U.S. border, delaying projects and driving up project costs. CHART: Solar manufacturing capacity by country, regionSource: International Energy Agency's Report on Solar PV Global Supply Chains, August 2022The UFLPA requires visibility into labour practices along the solar value chain. Lightsource bp has contracted for more than 20 million solar panels through 2028 and is considering imports from Southeast Asia, Turkey and India, Smith said.

☆ The Inflation Reduction Act is attracting a lot of investment into the U.S., EDP CEO says
▼ + stars: | 2023-03-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Inflation Reduction Act is attracting a lot of investment into the U.S., EDP CEO saysMiguel Stilwell d'Andrade, CEO of energy company EDP, discusses the role of renewables in providing energy security for Europe, and how the Inflation Reduction Act in the U.S. is impacting his industry.

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