By DLA Piper's Maher Ghanma and Micael Johnstone
2016 saw the international community finally reach agreement for collective action on climate change with the rapid ratification and entry into force of the Paris Agreement. DLA Piper's Maher Ghanma and Micael Johnstone assess the impacts and opportunities that the transition to a low carbon future presents to businesses and policy-makers in the Middle East.
China’s National Energy Administration (NEA) has said that it will invest 2.5 trillion yuan ($361 billion) into renewable power generation by 2020.
The Costa Rican Electricity Institute (ICE) has said that the country ran entirely on renewable energy for 250 days in 2016, with renewables supplying 98.1 per cent of Costa Rica’s electricity for the year.
Senator Abdul-Aziz Murtala Nyako, representing the Adamawa Central Senatorial District, has said that despite the current problems in the Nigerian power sector, stakeholders plan to make Nigeria a power generation hub in West Africa, with vast opportunities available in renewable energy.
Official figures from the UK government showed that low carbon electricity accounted for 50 per cent of generation in the third quarter of 2016, up from 45.3 per cent for the same period in 2015.
Siemens has entered the offshore wind market in Belgium with a first order for the 309 MW Rentel wind project.
Renewables lead as electricity sector investments hit record high ■ Transmission operations at centre of ABB review ■ US offshore wind strategy targets 86 GW ■ Asia climate goals call for over $7 trillion investment ■ Batteries find a home after EFR tender ■ Record low bids submitted for Abu Dhabi solar project ■ Vattenfall hits record low with wind tender ■ Areva seals Adwen’s future
By Henrik Poulsen, CEO, DONG Energy
More than 80 per cent of the world's energy supply comes from coal, oil and gas. There is a general consensus that CO2 emissions place a strain on our climate, yet our inability to set a proper price on these emissions means that it is still far too cheap to pollute. The costs of our inaction are already all too clear. At current emissions rates, the UN's Intergovernmental Panel on Climate Change expects that global temperatures will rise by two degrees compared to pre-industrial levels, even before 2040.