Renew Economy

Aerial view of large solar farm

Qatar and Saudi Arabia announce four mammoth new solar projects totaling 7.5GW

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Four massive new solar projects are under development in the Middle East, with a 2GW solar project proposed for Qatar, and three projects worth a cumulative 5.5GW securing financing in Saudi Arabia. State-owned petroleum company QatarEnergy will build a 2GW solar power plant, doubling the country’s total solar capacity in one fell swoop. Saudi Arabian energy giant ACWA Power has also announced that it has secured financing for three large-scale solar PV projects worth a total of $5.5 billion USD.

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Coal

Share of coal in Australia’s main grid falls below 50% for first time

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The share of coal has remained stubbornly high over the past decade, and still remains at more than 56% over the last 12 months, though down from its peaks of nearly 90% in the early 2000s. But over the past week, in the midst of strong winds across the south of Australia and the continuing growth of rooftop solar, the average share of coal generation in serving native demand on the main grid fell to 49.9%, according to industry observer Geoff Eldridge, of GPE NEMLog.

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Aerial view of large solar farm

World’s biggest battery storage project gets underway in Chile

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Financial close has been reached for the first two phases of the world’s largest battery storage project, the Oasis de Atacama in Chile, with 1.24GWh now financed and an eventual 4.1GWh once all five phases are completed. Grenergy expects the completed project will generate electricity equivalent for the needs of 145,000 homes and reduce CO2 emissions by over 146,000 tons.

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Solar farm

New Zealand’s biggest solar farm secures finance to go ahead at Christchurch Airport

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Leading global renewable energy developer Lightsource BP has secured $NZ267 million in financing for its 168MW Kōwhai Park solar project planned to be built at the Christchurch Airport, which will be – for a time – the largest in the country. The solar farm is expected to begin construction later this year and begin operations some time in 2026. Once operational, the Kōwhai Park solar farm will generate over 275GWh per year, equivalent to the annual demand of approximately 36,000 homes.

New Zealand’s biggest solar farm secures finance to go ahead at Christchurch Airport Read more

And nine more of humanity’s social change milestones from the week of July 1 – 7 2024 C.E.

Wind and solar capacity overtake coal in China in historic first

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In what is being hailed as a “pivotal moment” and an “historic first”, the accumulated capacity of wind and solar projects in China has overtaken coal for the first time, and solar capacity alone is predicted to overtake coal within two years. Rystad Energy says it has analyzed the latest data from China’s National Energy Administration and says the additions of wind and solar have outstripped coal in China by a factor of 16 in the first half of 2024 – as new coal additions slump to just eight gigawatts.

Wind and solar capacity overtake coal in China in historic first Read more

Wooden wind turbine

World’s first wooden wind turbine blades installed in Germany

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Wooden wind turbines promise to significantly reduce CO2 emissions during construction and production costs compared to current turbine blades. Designed and manufactured by Voodin Blade Technology, a German pioneer in wind turbine blade manufacturing, the laminated veneer lumber blades are a more sustainable construction material than current materials and allow for easier recycling of decommissioned blades.

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Aerial view of large solar farm

Solar is now perhaps being installed faster than any technology in history

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Cumulative global installed solar capacity in 2023 passed 1.4 terawatts (TW), which is tenfold larger than ten years ago and doubling every 3 years. At current growth rates (20% per annum), solar will pass fossil gas in 2024 and coal in 2025. Current growth rates also suggest that solar will approach 9 TW in 2031, when there will be more solar generation capacity than everything else combined.

Solar is now perhaps being installed faster than any technology in history Read more

Offshore wind turbines

Denmark plans massive 10GW offshore wind tender to insure against “Putin’s black gas”

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The Danish Energy Agency announced this week plans for the largest offshore wind tender in the country’s history, which could see anywhere from 6GW to 10GW awarded from six new sites. Denmark is currently operating total offshore wind capacity of 2.7GW, with the 1GW Thor Offshore Wind Farm to be completed in 2027. A further 3GW is expected to be built on the Bornholm energy island being developed between the Danish Energy Agency and Danish TSO Energinet.

Denmark plans massive 10GW offshore wind tender to insure against “Putin’s black gas” Read more

Solar panels reflect sparkling light from the Sun

Japan “fossil fuel dinosaur” launches massive 20GW global renewables platform

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Jera, Japan’s largest power company and one of the largest thermal power producers in the world, has announced the launch of a major new global renewables business, becoming the latest fossil giant to act on the existential threat of net zero to its business model. Based out of the U.K., the new company – called Jera Nex – will be tasked with delivering on Jera’s stated ambition to develop a massive 20GW of renewable capacity by 2035, enough to power millions of homes.

Japan “fossil fuel dinosaur” launches massive 20GW global renewables platform Read more

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