m3n4.net
m3n4.net November 17, 2018


Government to set up $350 mn solar development fund

19 January 2018, 02:04 | Tara Lloyd

Mike Appleby of Liontrust

Mike Appleby of Liontrust

The report also outlined that auction results are indicating that offshore wind and concentrating solar power projects to be brought into service between 2020 and 2022 will cost $0.006-0.010/kWh, thereby supporting their accelerated deployment across the world.

Of those technologies, most will fall at the lower end or even undercut fossil fuels, the report notes.

The New Energy Outlook from Bloomberg New Energy Finance also underlined solar power's role in Australia's future, predicting that rooftop solar will account for as much as 24% of the country's electricity by 2040.

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"This new dynamic signals a significant shift in the energy paradigm", said Adnan Z. Amin, director-deneral of Irena.

Installed renewable power capacity is now about 60 GW, and plans to complete the bidding process by the end of 2019/20 to add a further 115 GW of installed capacity by 2022.

The UAE has launched mega projects to invest $163 billion in projects in a bid to generate nearly half the country's power needs from renewable sources as it seeks to reduce dependency on fossil fuels to generate power, including building nuclear facilities.

4 major keys we learned from Oprah's powerful Golden Globes speech
President Donald Trump says he would beat Oprah Winfrey in a presidential contest, but says: "I don't think she's going to run". On the red carpet, eight actresses walked hand in hand with activists who focus on sexual harassment and gender inequality.

Yes Bank Ltd has committed to financing solar projects worth $5 billion, while state-run NTPC Ltd will contribute $1 million to an ISA fund, the power ministry said in a statement.

Under the partnership, the total projects capacity is likely to be up to 1,000 mw under the partnership, it said adding that these projects would be developed by Amplus by 2023.

IRENA's report said that other types of renewable power generation like bioenergy, geothermal and hydropower projects have been on par with power from fossil fuels in terms of costs in the last 12 months.

Cotton, Perdue Attended Trump Meeting But 'Don't Recall' Sh*thole Comment
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That's according to the International Renewable Energy Agency (IRENA), which suggests this will be driven by rising investments in clean power projects, which will in turn cut the cost of energy for consumers.



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