Japan’s Sumitomo Corp. has spent $200 million to acquire a 25 per cent stake in Desert Sunlight Investment Holdings LLC, the operator of a $2.3 billion solar project in California, USA.
Iraq will invest around $500 billion in energy and linked industries by 2030, generating around $6 trillion in revenues, according to the country’s Deputy Prime Minister for Energy, Hussain al-Shahristani.
GE has announced a new line of gas-powered turbines specifically designed to be paired with renewable energy sources. The new FlexEfficiency 60 product line represents a new model for alternative-energy projects, with the company claiming it combines “record-breaking efficiency” and “flexibility” to cut carbon emissions and reduce costs compared to prior GE configurations.
TransCanada has announced that it has signed a memorandum of understanding with the Ontario Power Authority to build, own, and operate a 900 MW natural gas-fired power plant at Ontario Power Generation’s Lennox station.
UK wind power generation reached an all-time high of 3.36 GW this week, while gas-fired generation recorded the lowest generation level on record for a mid-afternoon weekday.
Japanese Environment Minister Goshi Hosono has released Japan’s new post-Fukushima power strategy, which aims to boost the generating capacity of four renewable energy sources by more than six-fold and make it possible to eliminate all nuclear power, all by 2030.
Germany's green energy strategy is destined to cause upset as the costs of new renewable power generation units and transmissions must be passed on to consumers, Tuomo Hatakka, head of the German unit of Swedish energy group Vattenfall has said.
IHI Corp. has announced it has acquired a 50 per cent stake in each of US utility Exelon Corp’s five power plants in California. This move is IHI's first entry into large-scale commercial power generation.