The European Commission has approved a €10 billion Italian scheme to support electricity production from renewable energy sources to help transition towards a net-zero economy.
The Japanese Government has announced that it is aiming for renewables to be its largest power source by 2040 in an attempt to reduce dependence on coal and gas and become carbon neutral by 2050.
The Canadian Government has announced it will provide Saskatchewan province with C$265 million to modernise and upgrade its power grid and to build more renewable power projects.
The energy market has changed as attention shifts to renewable sources and companies are faced with a balancing act of affordability and carbon footprint. Some predict we are set for a turbulent year of energy pricing and supply security.
By Andrew King, Founder of SGT
Benin has started construction of the 25 MW Forsun PV plant, which will expand the total capacity of the Illoulofin solar power plant to 75 MW.
At COP29 in Baku, Azerbaijan, Egypt has signed two MOUs to develop 5.2 GW of renewable energy capacity in the country.
As the world’s second-largest user of offshore wind, the UK is at the forefront of renewable energy adoption, driven in part by its net-zero goals. However, while this shift offers significant opportunities for organisations in the sector, it also introduces hidden vulnerabilities. Small but critical solar and wind energy plants are increasingly at risk of cyberattacks, and a single attack could disrupt the entire UK energy grid. As reliance on these smaller renewable energy plants grows, the government, regulators, and energy companies must prioritise cybersecurity concerns to ensure energy security for the long-term.
By Phil Tonkin, Field CTO at Dragos
MidAmerican Energy of Iowa, USA, has said it expects to invest heavily in solar energy, natural gas-fired power plants, and an SMR facility over the next two decades to meet increasing demand, partly driven by the growing data centre industry.
The US Department of Agriculture (USDA) has awarded nearly $2.5 billion for Tri-State Generation and Transmission Association to retire 1.1 GW of existing coal-fired power plants and acquire about 1.3 GW of new renewable energy resources across the US states of Arizona, Colorado, New Mexico, and Wyoming.
Saudi Arabia’s Islamic Corporation for Development (ICD) has signed a $16.2 million financing agreement with Sampa of Türkiye for the development and construction of a captive 21 MW solar power plant at Sampa’s facilities.