Microgrids are set to gross $1.7 billion by 2016, according to a new report on the sector by Pike Research. Microgrids use smart grid technology to control distributed power generation and energy storage on smaller localised grids, separate from the utility power grid.
The international climate conference in Cancún, which concluded this week, has resulted in several important agreements being finalised. Plans to launch a $100 billion Green Climate Fund to finance mitigation and adaptation in developing countries were completed. A framework for monitoring, reporting and verifying (MRV) emission reductions, and on principles for reducing emissions from deforestation and forest degradation (REDD) were other notable success.
Powerfuel Plc which had hoped to develop the UK’s first commercial scale clean coal plant with carbon capture and storage (CSS) has gone into administration due to the high cost of the project.
Russian energy giant Gazprom has said it will renegotiate its long term natural gas contracts, which have been undercut by spot market prices.
The Paris-based International Energy Agency (IEA) has called countries worldwide to boost clean energy development under international cooperation, in order to achieve lower emissions as pledged in the Copenhagen Accord.
Low-carbon power sources should account for around 60 per cent of European electricity production by 2030, says the industry association Eurelectric.
Toshiba Corp. announced it has agreed with US engineering service provider Shaw Group Inc. to jointly construct nuclear power plants outside Japan.
“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.