“China is responding to climate change on many fronts... [and] its efforts in developing green energy are noteworthy”, according to delegates attending the UN climate change conference in Cancun.
The Asian Development Bank (ADB) has said it will infuse 40 million dollars into two private equity funds that target promising green companies and projects in the region.
The Nigerian government has said the ongoing rehabilitation works on five power stations across the country will further increase power generation by May 2011. The government confirmed that the expected addition of 978 MW will put the total output at 3978 MW. The five power stations include Kainji, Geregu, Sapele, Delta and Egbin.
he Indian Nathpa-Jhakri hydropower project in Himachal Pradesh, the largest in the country, has achieved its power generation target despite closure of its plant for 22 days due to hostile weather, a company official has said.
Power generation is up significantly in Estonia this year after the closure of the Ignalina nuclear plant in Lithuania.
Chinese power generation volume rose 14.9 per cent year-on-year to 3.4 billion kW/h in the first 10 months of 2010, according to the National Development and Reform Commission. The growth rate was also up 11.7 percentage points year-on-year.
The World Bank reports that China is making progress in meeting targets to generate 15 per cent of its electricity from non-fossil fuels by 2020, though it needs to improve and expand hydro generation and deal with inefficiency in its wind-power sector.
India’s Tata Power will invest around Rupees 50bn ($1.1 bn) in wind energy over the next seven years as it prepares to generate at least a quarter of its total power generation from clean sources by 2017.
Shares in Weir Group recently surged to a record high as the Glasgow-based engineering company announced the acquisition of American Hydro Corporation, which makes turbine components for hydro power generation.
Ontario Power Generation’s third-quarter profit increased to $333 million, compared with $259 million for the same quarter last year. Reports say this increase was likely caused by higher electricity prices this year.