Clean power investment 'needs to hit $750bn'

14/01/2020 08:55 Renewable


Investment in renewable energy needs to double to almost $750bn from $330bn currently to deploy clean power at the speed needed to achieve sustainable development goals and tackle climate change, according to the International Renewable Energy Agency (IRENA).

IRENA said in a new report – '10 Years: Progress to Action' – that the share of renewables in global power needs to more than double by 2030 to advance the global energy transformation.


Renewable electricity should supply 57% of global power by the end of the decade, up from 26% today, it said.


The report charts recent global advances and outlines the measures still needed to scale up renewables.


IRENA said much of the needed investment in clean power can be met by redirecting planned fossil fuel investment.


Consultancy probes Irish Sea for offshore wind

22/01/2020 08:59:00

Gavin and Doherty Geosolutions will provide geotech analysis to inform foundation options


Rosneft increases its share in Bayernoil refinery

22/01/2020 08:49:00

Rosneft Deutschland, a subsidiary of Russian oil giant, has completed the deal to acquire a 3.57% stake in Bayernoil Raffineriegesellschaft from British BP, Rosneft said on 17 January, adding that as result of this deal, Rosneft increased its shareholding to 28.57% from 25%.


Daily (21.01.2020): Crude oil hits the highest level in a week due to supply disruption in Libya

21/01/2020 11:55:00

Crude oil prices climbed to their highest level in more than a week on Monday, due to a halt in the crude production at two large Libyan oilfields after forces loyal to commander Khalifa Haftar closed a pipeline, bringing back the focus on supply risks.