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...And it is the strength of the continent’s demand for renewable power, spurred by the transition away from fossil fuels, that has pushed the company to the top of this year’s FT ranking of businesses by revenue...
...As chief executive, he oversaw the $54bn acquisition of BG Group, set Shell’s first climate targets and pushed the FTSE 100 group further into new areas such as biofuels, hydrogen and renewable power....
...Supply chain constraints threaten the UK’s goals for renewable energy, a report commissioned by the government has warned....
...“Probably the biggest factor in shaping relatively low profitability in renewables is that, unlike in oil and gas, there’s a market absence of monopoly or oligopoly power,” he told me....
...Octopus Renewables Infrastructure Trust proposed a combination with Aquila European Renewables in December....
...By 2035, there will be excess power generated by renewables and nuclear plants during 64 per cent of hours across the year, according to analysis produced for the UK government....
...You state (“BP pressured to ditch green pledges”, Report, January 30) that “renewable power projects generally have a lower return on investment than oil and gas”....
...The renewables auction allocation is used to determine how many renewables projects each round can support and is also dependent on power prices....
...“Ninety-five per cent of what we globally spend on renewables is happening in the Global North and only 5 per cent is happening in the Global South,” he noted, adding that China should be praised, rather...
...US banks pushing back against tougher capital rules have found an ally in the renewable power industry, as project developers warn that a proposal to guard against a financial crisis risks slowing down the...
...Their number has grown rapidly in recent years in Britain as renewable power production has increased, with about 130 sites providing 4GW of total capacity, according to industry group Regen....
...The company – which also owns America’s biggest utility, Florida Power and Light – increased its orders backlog for renewables and battery storage by 9,000 megawatts in 2023....
...This fits with Brachlianoff’s plan to grow a market in utilising unused local energy reserves, including bioenergy and power produced from waste, which she said could provide up to 400 gigawatts of power...
...chief executive of NextEra Energy said such an outcome was “unlikely” as the company offered a booming demand outlook for the years ahead after banking 9,000 megawatts of new orders for solar and wind power...
...This combines its traditional oil and gas business — in particular liquefied natural gas — plus a power business that invests in renewable technologies including wind, solar and storage....
...has to be renewables.”...
...The announcement is part of a series of planned reforms to the power market to help it adapt to the rise of renewable energy that Coutinho will unveil on Tuesday....
...and nuclear power because of their high capital intensity and low returns....
...Despite these worrying trends, China continues to develop renewable energy projects at world-leading scale....
...China was the main driving force behind the 50 per cent increase in global renewable electricity generation capacity last year. But the problem is the pace of growth has been much too fast....
...In a major deal in November, it agreed to buy the Spanish renewable energy company Enerfin, which has a portfolio of about 1.5GW of wind and solar power either up and running or being built for €1.8bn....
...This leaves solar to spread a little sunshine in the lives of renewables specialists — so long as the sun itself shines often....
...China more than doubled solar capacity in 2023, and wind power capacity rose by 66 per cent from a year earlier, the IEA estimated....
...Because power grids cannot handle any excess, the electricity has to be stored somewhere or it will be lost. That need for storage will only grow as renewable power expands....
...According to MCS, a renewable energy certification scheme, 183,000 solar installations were carried out in 2023, up one-third from the previous year....
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