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Japan Could be Energy-Independent by 2060 Thanks to Renewables, Rystad Energy CEO Says

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(Reuters) – Japan, a major coal and liquefied natural gas (LNG) buyer, could be energy-independent by 2060 thanks to expansion of solar and wind power together with storage batteries, said Jarand Rystad, chief executive of the Rystad Energy consultancy. Japan imports most of its energy resources, with the Middle East, Australia and the United States …

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U.S. Election May Leave Parts of Inflation Reduction Act Vulnerable, KKR Says

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The US election in November may leave certain Inflation Reduction Act programs and regulations vulnerable to repeal, according to KKR & Co.’s global head of infrastructure, Raj Agrawal. “Many of our clients are asking whether we think there is an electoral outcome that will result in the repeal of the Inflation Reduction Act, which is providing …

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IEA Expects Global Clean Energy Investment to Hit $2 trillion in 2024

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LONDON, June 6 (Reuters) – Global investment in clean energy technology and infrastructure is set to hit $2 trillion this year, twice the amount going into fossil fuels, an International Energy Agency report showed. Total energy investment is expected to exceed $3 trillion for the first time in 2024, the IEA said in its annual …

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New York Finalizes Offshore Wind Contracts for Equinor, Orsted Projects

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(Reuters) – The New York State Energy Research and Development Authority (NYSERDA) said on Tuesday it had finalized contracts for Equinor’s  Empire Wind 1 and Orsted’s  and Eversource’s Sunrise Wind offshore wind projects. NYSERDA in February awarded conditional contracts to buy electricity from two proposed offshore wind projects under a program meant to support the embattled industry and keep the state’s ambitious …

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The Cart Before the Horse: Countries’ Plans Not Yet Aligned With Tripling Renewables Capacity Goal

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(Reuters) – Countries’ climate plans are not yet in line with a goal to triple renewable energy capacity worldwide by 2030 which was set at the COP28 climate summit in Dubai last year, a report by the International Energy Agency (IEA) said on Tuesday. WHY IT’S IMPORTANT The target would involve increasing installed renewable energy …

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Biden Administration Expands Tax Credits Beyond Wind, Solar

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(Reuters) – The Biden administration on Wednesday proposed expanding tax credits that have for years boosted U.S. solar and wind energy projects to cover a wider range of clean energy technologies including nuclear fission and fusion. The Treasury Department announced its guidance for Clean Electricity Production Credits and Clean Electricity Investment Credits, created under the …

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Jobs to the Wind: Siemens Energy’s Gamesa to Cut 4,100 jobs, CEO Says in Staff Letter

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(Reuters) – Siemens Energy’s wind turbine division Siemens Gamesa is planning to cut 4,100 jobs, or around 15% of its workforce, the unit’s Chief Executive Jochen Eickholt said in an internal letter to staff seen by Reuters on Tuesday. “Our current situation demands adjustments that go beyond organizational changes. We have to adapt to lower business …

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France Less Attractive for Renewable Investment than Other Countries, TotalEnergies Says

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PARIS, May 23 – Sluggish project approvals and the fact that wind power is sold to the government, rather than directly to customers, make France less attractive than some other countries for renewable investments, according to the director of TotalEnergies France. Isabelle Patrier was speaking ahead of TotalEnergies’ inauguration on Friday of a 63-megawatt wind …

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Wind Turbine Makers Halt Race for Size to Focus on Cost, Delivery

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  Summary After rapid increases in offshore wind turbine capacities, western suppliers are doubling down on existing models to drive supply chain efficiencies and reduce risks. Another stumble for offshore wind in New York has highlighted shifting sentiment in the offshore wind turbine market. Last month, New York State Energy Research and Development Authority (NYSERDA) …

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A Second Trump Presidency Would Target IEA’s Green Focus, Advisers Say

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(Reuters) – Donald Trump would likely push to replace the head of the International Energy Agency if he wins the U.S. presidential election to shift the energy watchdog’s focus back to maximizing fossil fuel output instead of fighting climate change, according to people familiar with the matter. The Paris-based IEA has provided research and data …

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