World Bank will aid International Solar Alliance to mobilize $1 trillion

14/07/2016 10:47 Renewable


The World Bank has inked a deal with a group of 121 countries managed by India to collaborate on raising solar energy consumption across the world.

They intend to mobilize $1 trillion (£0.75tn) in investments by 2030. The International Solar Alliance (ISA) was instituted at the COP21 conference in Paris in December last year after which the groundwork stone for the headquarters in Delhi was placed in February this year. The accord establishes the World Bank as a financial associate for the ISA and sees the institution as employing its global development network, knowledge and funding capacity to encourage solar energy use.

EU says it does not need Nord Stream 2, but only Germany can block it

24/02/2021 08:42:00

The European Union does not need the Nord Stream 2 pipeline for its energy security but any decision to stop the project carrying Russian natural gas to Germany would have to come from Berlin, a senior European Commission official said on Tuesday.


how geothermal could help eastern EU countries ditch fossil fuels

24/02/2021 08:34:00

Countries like Hungary, Slovakia, Austria, Romania and Croatia sit over the Pannonian basin, which has huge potential for geothermal energy and is over 10°C per kilometre hotter than the European average, making them a prime location for geothermal deployment.


Daily (23.02.2021): Oil prices settled at their highest levels since January 2020 amid a gradual recovery of U.S. crude output after winter storms

23/02/2021 09:51:00

Crude oil futures rallied on Monday to settle at their highest levels in more than a year amid expectations of a slow recovery in output after last week’s deep freeze in Texas which cut U.S. crude production by as much as 40%. The gains were also attributed to expectations that OPEC+ would continue to curb output. Hence, Brent crude soared by $2.33, or 3.7%, to settle at $65.24 a barrel. Meanwhile, U.S. WTI crude surged by $2.46, or 4.2%, to settle at $61.70 a barrel.