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Last Week in The Energy Sector – 25th to 1st Oct

By October 2, 2023May 21st, 2024No Comments

The IEA Released a New Edition of Its Net Zero Roadmap

  • It emphasises the continued rapid growth of renewable energy, phasing out fossil fuels, and global cooperation to support developing countries’ clean energy transition.
  • Bold action towards upscaling renewables and reducing energy sector emissions this decade still remains key to reaching net zero.
  • Additionally, the annual rate of energy efficiency improvements must double, EV and heat pump sales must continue to increase, and energy sector methane emissions must drop by 75%.

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UK boosts $25bn plan to pipe Saharan green power 4,000km to England

  • A £20bn ($24.5bn) plan to pump green energy from Morocco to Britain through an undersea cable passed a “major milestone” as the UK government named it as a nationally significant project.
  • On the Moroccan side, Xlinks aims to build 10.5GW of wind and solar allied to 5GW/20GWh of battery storage in its southern Guelmim Oued Noun region.
  • It claims the project could power over 7 million British homes by 2030, meeting around 8% of Britain’s electricity needs.

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US Interior Department Announces Fewest Offshore Oil and Gas Lease Sales in History in Proposed Final Program for 2024–2029

  • This reduction aligns with the Biden-Harris administration’s goal of net-zero emissions by 2050 and allows for the expansion of the offshore wind leasing program.
  • The plan phases down oil and gas leasing in the Gulf of Mexico and will enable the offshore wind program to continue to rapidly grow.
  • The proposed program includes zero oil and gas lease sales in the Atlantic, Pacific and Alaskan waters.

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Canadian Government Announces Over $20 Million to Support Wind Project

  • The Cypress 2 Wind Project will create jobs delivering power to communities across Alberta and seize the economic opportunities of a low-carbon future.
  • The Government of Canada recently released Powering Canada Forward, its vision for transforming Canada’s electricity sector and meeting its commitment to de-carbonizing the country’s electricity systems.

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Taiwan Sets Ambitious Energy Transition Targets to Hit 2050 Net Zero Goal

  • National Central University and Xinding Nano Company have joined forces to drive innovation in the realm of hydrogen production from seawater.

  • The current hydrogen landscape in Taiwan predominantly relies on natural gas recombination, with over 96% of the nation’s hydrogen originating from this source.
  • The cornerstone of this ambitious endeavor lies in “seawater hydrogen production,” a technology poised to play a pivotal role in Taiwan’s journey toward net-zero carbon emissions.

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