News

Power purchase agreement (PPA) prices for renewable energy in Europe rallied 11.3% in the third quarter to more than EUR 73 euro per MWh, a YoY increase of 51%, according to LevelTen Energy, a PPA market platform operator.

The US and the European Union have agreed to increase their partnership to support green energy in Sub-Saharan Africa, including energy storage and off-grid power systems in its remit.

Australia has announced plans to build renewable energy projects, offshore wind farms and undersea transmission cables, as part of its efforts to cut carbon emissions by 43% by 2030.

A new not-for-profit initiative called the Distributed Renewable Energy Certificate (D-REC), backed by multiple stakeholders, is developing an internationally recognised market instrument acting as a guarantee of origin for distributed renewable energy.

EU countries are considering revising REPowerEU, the European Commission’s plan to shift away from Russian fossil fuels, including scrapping a proposed 45% renewable energy target for 2030, according to a document seen by EURACTIV.

The UK government has announced to introduce the ‘Cost-Plus Revenue Limit,’ a temporary cap on renewable energy companies’ revenue, to curb the impact of soaring wholesale power prices.

To reach net-zero emissions by 2050 and limit global warming to 1.5C temperature, investment in renewable energy sources needs to exceed finance flows to fossil fuels by a factor of four over the next decade, according to a report published by BloombergNE

Australian resource giant Fortescue Metals Group, one of the world’s biggest iron ore producers, has unveiled a $6.2 billion plan to transition to renewable energy by 2030. Its billionaire owner Andrew Forrest has urged other heavy industries to follow su

Hawaii recently shut down its last coal-powered electricity plant, a step forward in the state’s effort to adopt more renewable energy sources and use less fossil fuels such as coal and oil.

The US city of Chicago plans to run more than 400 public buildings, including City Hall and two international airports with 100% renewable electricity.