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Last Week in The Energy Sector – 16th to 22nd Oct

By October 24, 2023No Comments

Lack of ambition and attention risks making electricity grids the weak link in clean energy transitions – IEA

  • First-of-its-kind global study finds the world must add or replace 80 million km of grids by 2040, equal to all grids globally today, to meet national climate targets and support energy security.
  • The report identifies several strategic actions that can make a difference, including expanding and strengthening grid interconnections within countries, between countries and across regions to make electricity systems more resilient and allow them to better integrate rising shares of solar and wind power.
  • The report recommends that governments back large-scale transmission projects to ensure grids are prepared for further strong growth in renewable power, and it urges grid developers and operators to embrace digitalisation to enable the grids of the future to be more resilient and flexible.

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Energy Taiwan, Net-Zero Taiwan 2023 focuses on green solutions

  • Energy Taiwan and Net-Zero Taiwan 2023, global platforms for renewable energy solutions, hosted 70 large-scale business meetings last week.
  • The events aim to create opportunities for international cooperation and showcase the latest green energy technologies.
  • Taiwan aims to achieve net-zero carbon emissions by 2050, with a focus on innovation and green transformation.

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Scottish National Party pledges £500M to boost Scotland’s offshore wind sector

  • The Scottish National Party (SNP) has pledged £500m to boost Scotland’s offshore wind industry over the next five years.
  • The funding will support the development of a new supply chain for the renewable power sector.
  • SNP leader Humza Yousaf also announced plans to issue Scotland’s first bond to fund infrastructure projects.

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Tata Steel Ltd. to enter into agreement with Tata Power Renewable Energy Ltd. to source 379 MW of Renewable Power, a milestone towards achieving Net Zero

  • Tata Steel Ltd. (TSL) announced that it has concluded negotiations to enter into definitive agreements with Tata Power Renewable Energy Ltd. (TPREL) and TP Vardhaman Surya Ltd. (TPVSL) to acquire 26% in TPVSL, currently a wholly owned subsidiary of TPREL.
  • TSL will also execute a fixed-tariff long-term agreement with TPVSL to source 379 MW of captive renewable power, which will save 50 million tons of carbon emissions over the contract period of 25 years.
  • This move is part of TSL’s commitment to achieving net zero carbon emissions by 2045.

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UAE and France to develop Yas Bay solar power mega project

  • The UAE and France will join forces to develop an Abu Dhabi solar power project which aims to offset 450 tonnes of carbon dioxide emissions per year.
  • The 524-kilowatt solar photovoltaic scheme will be constructed at Yas Bay Waterfront by master developer Miral in partnership with Emerge, a joint venture between the UAE’s Masdar and France’s EDF.
  • The clean energy initiative will involve the installation of 920 solar modules at the leisure, dining and entertainment hub and will support the UAE’s net-zero emissions goals.

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