Latest news with #RenewableEnergy
Sky News
13 hours ago
- Business
- Sky News
Energy Asia: Government, industry urge swift energy transition
Energy Asia 2025 concluded with a resounding call for urgent, inclusive and actionable delivery of the energy transition. Held in Kuala Lumpur from 16 to 18 June, the conference drew more than 4,000 delegates from 60 countries and 38 industries to discuss how the region can balance rising energy demand with decarbonisation targets under the theme 'Delivering Asia's Energy Transition'. With over 180 speakers and more than 150 sessions, Energy Asia marked a step change in how the region approaches the energy transition - not as a future ambition, but as an immediate priority requiring delivery at scale. The second edition of Energy Asia was officially launched by the Prime Minister of Malaysia, Dato' Seri Anwar Ibrahim, and hosted by PETRONAS in partnership with CERAWeek by S&P Global. From the opening keynote to the final sessions, discussions were centred around the knotty conundrum of meeting growing energy demand while advancing the Asian energy ecosystem through decarbonisation, economic development, and social equity. Call for greater collaboration and investments Asia's energy transition is uniquely complex. Nations must expand access for growing populations while cutting emissions, making planning and investment more challenging. Collaboration is key to effectively address the energy transition, not just across conventional energy players, but also industry leaders in cleantech and renewables, power and utilities, finances and logistics, as well as policymakers and authorities. The Malaysian Prime Minister underscored that while most Southeast Asian nations have committed to net-zero targets, clean energy investment remains disproportionately low - just 2% of global spending in 2023, despite the region consuming half the world's energy. Tengku Muhammad Taufik, PETRONAS chief executive officer and Energy Asia Chairman, stressed the need for regionally specific solutions amid growing disruptions. He also called for a balance to be struck between sustainability and energy security, noting over 350 million Asians still lack reliable electricity. "The objective of Energy Asia 2025 is to address the realities of the energy transition within the context of this region," Mr Muhammad Taufik said in an interview after the conference. "The perspectives aired over the past three days have successfully highlighted the existing and emerging challenges faced and underscored the imperative to build a resilient energy system." He added that Asia stood firm in its "pragmatic and collaborative approach in shaping a just and equitable energy future for more than half of the global population." "Beyond the thought leadership that was front and centre at the conference, Energy Asia 2025 also witnessed the formation of numerous new initiatives and partnerships, that are positioned to deliver real outcomes for the region," Mr Muhammad Taufik said. Speakers also emphasised the evolving role of energy demand driven by artificial intelligence and digital infrastructure. The conference featured speakers including OPEC Secretary General Haitham Al Ghais, Saudi Aramco CEO Amin Nasser, and TotalEnergies Chairman Patrick Pouyanné. Delivering Asia's energy transition Energy Asia went beyond conversations. The conference marked the signing of 14 memoranda of understanding and several major partnership announcements between some of the world's largest energy companies. PETRONAS, Malaysia's state oil company, announced a strategic cooperation agreement with French energy giant TotalEnergies to expand upstream operations in Malaysia. The Malaysian company also signed a framework agreement with Italy's Eni to explore regional upstream joint ventures, and reached a liquefied natural gas supply deal with Commonwealth LNG to diversify exports to the United States. Other significant announcements included PETRONAS's agreement with Japan's JERA to collaborate across the gas value chain, supporting Japan's energy security objectives. PETRONAS also announced plans for an Energy Transition Academy to train workers for low-carbon industries. Focus on Carbon Capture Technology Several initiatives launched at the conference target carbon capture and storage technology. PETRONAS announced the formation of Jules Nautica, a joint venture with shipping companies MISC Berhad and Mitsui O.S.K. Lines to operate vessels that transport liquefied carbon dioxide for storage projects. The company also launched what it calls the Blue Carbon Collective, a research partnership with Mercedes-AMG PETRONAS Formula 1 Team and universities in Brazil and Malaysia to study mangrove-based carbon capture methods. EAGLe Forum Produces Sturdy Framework A landmark feature of this year's conference was the inaugural Energy Asia Global Leadership Executive Forum (EAGLe), a closed-door gathering of over 30 global CEOs and C-suite leaders from energy, finance, technology, and professional services. This high-level dialogue produced alignment on four critical areas of action: building resilient energy systems - sharing best practices for energy system resilience; improving project financing; reducing emissions whilst delivering social benefits; and accelerating technology deployment. The forum, held under Chatham House rule, marked the first time such a gathering has taken place in Asia focused specifically on energy transition challenges. Energy Park: Where innovation and collaboration converge The accompanying Energy Park exhibition attracted nearly 14,000 visitors over three days, showcasing emerging technologies from carbon capture systems to renewable energy platforms. Conference organisers said the 52 corporate sponsors and high attendance demonstrated strong industry support for collaborative approaches to energy transition. Asia accounts for more than half of global energy consumption and a similar proportion of carbon emissions. The region's approach to energy transition will significantly influence whether global climate targets can be met, according to energy analysts.
Yahoo
17 hours ago
- Business
- Yahoo
Quinbrook Makes First Irish Investment with Wexford Synchronous Condenser Project
Quinbrook Cements Leadership in Grid Stability with Irish Expansion LONDON, July 29, 2025--(BUSINESS WIRE)--Quinbrook Infrastructure Partners ("Quinbrook"), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, today announced that it has closed its first investment in the Republic of Ireland with the acquisition of the Wexford Synchronous Condenser Project ("Wexford"), a proposed 963 MVA.s. facility to be located in Co. Wexford, Ireland. Wexford, originally developed by Green Frog Power, was awarded a long-term revenue contract under the Low Carbon Inertia Services (LCIS) tender in June 2024. The project is configured to provide critical grid services including inertia, short-circuit level, and reactive power that are essential to maintain stability in the Irish electricity grid. "Wexford marks a significant milestone for Quinbrook as we continue to grow our grid stability portfolio and mark our first investment in Ireland," said Keith Gains, Managing Director and UK Regional Leader for Quinbrook. "The Wexford project underscores our commitment to building critical infrastructure that supports Ireland's energy transition and strengthens grid resilience. As Ireland moves toward its goal of sourcing 80% of electricity from renewables by 2030, investments in grid stability are essential. We are excited to bring our team's expertise to Ireland to help accelerate the shift to a more sustainable power system." This latest investment builds on Quinbrook's grid stability leadership in the UK where it is the largest private owner of synchronous condensers, with over £430 million now committed for investment across its portfolio. With three projects already operational and four more under construction, Quinbrook is applying its proven model to support Ireland's transition to a more resilient and decarbonised power system. Synchronous condensers provide grid stability by providing system inertia, reducing the risk of blackouts. While thermal generation plants create inertia through large rotating turbines, renewables such as wind and solar do not, constraining the deployment of renewable energy. Synchronous condensers offer a cost-effective, zero-emissions solution to this challenge by replicating the stabilising effect of traditional generators, allowing more renewable energy to be used without compromising grid reliability. Procurement and construction for Wexford will be overseen by Quinbrook's long-standing delivery partner, Welsh Power. Having successfully developed and managed construction for Quinbrook's existing synchronous condenser projects in the UK, Welsh Power brings deep technical expertise and a proven track record in delivering complex grid infrastructure. Quinbrook will fully fund the construction phase, with Wexford expected to commence operations in 2027. About Quinbrook Quinbrook Infrastructure Partners ( is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c. USD 6.9 billion of equity capital in 40 GW of energy infrastructure assets representing a total transaction value of USD 29.8 billion. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the UK, US, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects in the UK, US, and Australia. View source version on Contacts Media Contact:Jennifer Pflieger+1 (212) 446-1866jpflieger@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
ABC News
a day ago
- Business
- ABC News
Renewables cheapest energy option: CSIRO
Renewable's remain the lowest-cost electricity generation technology in Australia, but not by much, according to a new report out today. The CSIRO has released it's final GenCost report finding renewable's were cheaper when it comes to new builds and nuclear small modular reactors are the most costly form of energy generation. ABC NewsRadio's Sarah Morice spoke with Paul Graham, CSIRO's Chief Energy Economist and GenCost lead author. He says there is only a few dollars difference in the cost.
Yahoo
a day ago
- Business
- Yahoo
New ETC report demonstrates that wind and solar-dominant power systems are competitive, reliable, and technically and economically feasible
LONDON, July 29, 2025 /PRNewswire/ -- The Energy Transitions Commission (ETC) has today published a landmark report, Power Systems Transformation: Delivering Competitive, Resilient Electricity in High-Renewable Systems. The report sets out that global power systems dominated by wind and solar generation can reliably deliver electricity at costs comparable to or lower than today's fossil fuel-based power systems in most parts of the world. Electricity is projected to provide up to 70% of global final energy consumption in a decarbonised energy system, growing from around 20% today. Total global electricity demand could potentially triple, reaching 90,000 TWh by 2050 compared to 30,000 TWh today, and be met with new generation predominantly from wind and solar. A Global Opportunity The report shows that many countries can operate power systems with 70% or more electricity from wind and solar, using proven technologies available today, like battery storage, other energy storage, long-distance transmission, and flexible energy use. It highlights significant regional opportunities: "Sun belt" countries – including India, Mexico, and much of Africa – are best-positioned to cut power system costs by transitioning to low-cost, solar-led systems, which mainly require day-night balancing. In contrast, "wind belt" countries – such as the UK, Germany, and Canada – that rely on higher shares of wind face higher balancing costs, but can still achieve affordable, stable systems through smart policy and innovation. In many regions, long-distance transmission lines can be one of the most cost-effective solutions to balancing supply and demand, and should be maximised where feasible. Rapid electrification of buildings, transport and industries and decarbonisation of power systems must advance together to keep costs per kilowatt-hour affordable for consumers and businesses. "Multiple technologies, including nuclear and geothermal, may play a role in zero-carbon power systems. But wind and solar will be the dominant source of power in most countries, providing 70% or more of electricity at costs at or below today's fossil-based systems. In particular, in the global sun belt, the collapsing cost of solar PV and batteries makes possible far cheaper and more rapid growth in green electricity supply than seemed feasible 10 years ago. But wind belt countries can also achieve cost-effective decarbonisation by leading in offshore wind, long-duration storage, and grid innovation." said Adair Turner, Chair of the Energy Transitions Commission. Key Findings: It is technically possible for wind- and solar-dominant systems to be stable and resilient with the right mix of balancing and grid technologies. These systems are no more likely to experience blackouts than thermal generation-dominated systems. High wind and solar systems can be competitive with today's wholesale prices and grid costs. Sun belt countries could see costs more than halve to $30-$40/MWh by 2050. Wind-dependent country costs (e.g., UK) are higher, but in the future could be comparable to current levels. The "last mile" of decarbonisation will be the most expensive, particularly in countries which need ultra-long duration balancing to meet seasonal variations in supply and demand. Once countries have reached very low levels of carbon intensity (e.g., less than 50g per kWh), electrification is more important than rapid last-mile decarbonisation. Up to 30% of all global power demand could be time-shifted through demand-side flexibility. This requires the development of dynamic pricing and the use of smart management technologies. Grid costs per kWh can be kept stable. Total global grid length will need to more than double by 2050, reaching around 150–200 million km. Annual grid investment could rise from $370 billion in 2024, peaking at $870 billion in the 2030s. However, ~35% of grid expansion costs (equivalent to $1.3 trillion in Europe1) could be avoided between now and 2050 through the usage of innovative grid technologies. Delivering low-cost, high variable renewable energy power systems will require strategic vision and planning, including market reform to put all technologies on a level playing field, grid modernisation enabled by innovative technologies, supply chain development strategies and customer engagement. "Clean electricity is essential for climate action and is the most affordable way to power economic development. Countries can build resilient economies fit for the future by investing in renewables, grids, and flexibility now. Indeed it is their obligation to do so, according to the recent ICJ advisory opinion. Low-cost, clean power is what people, industry and businesses want. Countries must deliver it now, and this report shows that they can." said Christiana Figueres, Founding Partner, Global Optimism. Policymakers, the power industry, and financial institutions should collaborate to ensure: Appropriate planning of high wind/solar systems to expedite planning approvals and minimise deployment bottlenecks. Electrification of demand that keeps pace with generation and grid build-out to avoid the cost per kWh increasing for consumers. Accelerate power market reforms to unlock investment in critical technologies. Address workforce and supply chain bottlenecks to enable delivery at scale. "Renewables are the core of the global energy transition, delivering clean, reliable, and affordable power. Wind, solar, hydropower, geothermal, storage and modern grids are transforming electricity systems and opening new opportunities for growth, investment, and energy security. To keep this momentum, deployment must advance alongside grid expansion, market reform, and investment. Together, these build competitive, resilient systems that support jobs and economic progress. With governments leading and the private sector supporting, renewables will deliver a clean, secure, and just energy future." said Bruce Douglas, CEO at Global Renewables Alliance. The ETC also published a supplementary briefing, Connecting the World: Long-Distance Transmission as a Key Enabler of a Zero-Carbon Economy, focused on the role of cross-border interconnectors and long-distance transmission in accelerating the energy transition. Additional Quotes Additional quotes from Ausgrid, Iberdrola, Mission Possible Partnership, Octopus Energy, Schneider Electric, SSE, Ember, and Transition Zero are available here. About the ETC:Power Systems Transformation: Delivering Competitive, Resilient Electricity in High-Renewable Systems was developed in collaboration with ETC members from across industry, financial institutions, and civil society. The Energy Transitions Commission is a global coalition of leaders from across the energy landscape committed to achieving net-zero emissions by mid-century. This report constitutes a collective view of the ETC; however, it should not be taken as members agreeing with every finding or recommendation. Download the report: For further information on the ETC, please visit: 1 BNEF (2024), New Energy Outlook. Logo - View original content to download multimedia: SOURCE Energy Transitions Commission Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
a day ago
- Business
- Zawya
Desert-to-Power: The Sustainable Energy Fund for Africa (SEFA) commits €6 million to Dédougou Solar Project in Burkina Faso
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank ( has committed a €6 million concessional finance package for the development of the 18 MW Dédougou Solar Power Plant in Burkina Faso, marking a significant milestone towards increasing the country's energy generation capacity. SEFA's commitment comprises a €2.5 million senior concessional loan and a €3.5 million reimbursable grant, complemented by a combination of subordinated and senior loans from the Dutch Entrepreneurial Development Bank (FMO). This commitment was formalized during a signing ceremony in Paris on July 18th, bringing together stakeholders from the African Development Bank, FMO, project developer Qair, and advisors A&O Shearman and Trinity. The Dédougou Solar Power project aligns with the African Development Bank-led Desert-to-Power initiative, which aims to turn the Sahel region into the world's largest solar power zone. It is listed as a priority project in Burkina Faso's national Desert-to-Power roadmap. It is among the first independent power producers (IPPs) in the country and operates under a 25-year Power Purchase Agreement with the national utility, Société Nationale d'Électricité du Burkina Faso (SONABEL). "The Dédougou Solar PV project marks a significant milestone for Burkina Faso and the broader Sahel region,' said Dr. Daniel Schroth, the Bank's Director for Renewable Energy and Energy Efficiency. As a key contribution to the Desert-to-Power initiative, it demonstrates the transformative nature of harnessing solar energy to drive inclusive and sustainable development. The catalytic support from SEFA was instrumental in unlocking this private sector-led project.' Once operational, the plant will help diversify Burkina Faso's energy mix, reduce electricity costs, and boost access to reliable, affordable electricity, supporting economic growth and local livelihoods. The project prioritizes sustainability through a comprehensive Environmental and Social Management System, ensuring responsible operations and mitigating potential environmental and social risks. "This new financing from FMO and SEFA marks a significant milestone in Qair's journey in Burkina Faso,' said Abdoulaye Toure, CFO of Qair Africa. 'We are deeply grateful to both institutions for their continued trust and support, which enable us to deliver impactful renewable energy infrastructure in the region. After commissioning our first 24 MW solar plant in Zano in 2023, this second project in Dédougou reflects our expanding footprint and aligns with Qair's long-term strategy to accelerate the energy transition across Africa." With committed support from SEFA and FMO, the Dédougou Solar Power Plant demonstrates the potential for private-sector-led future renewable energy projects in the Sahel region, accelerating the transition towards sustainable power, fostering economic growth, and enhancing the quality of life for communities across Burkina Faso. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media contact: Communication and External Relations Department African Development Bank Group media@ About SEFA: SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. SEFA offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects, and improve the risk-return profile of individual investments. The Fund's overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal on Energy for Africa and the M300. About Qair: Qair is an independent renewable energy company developing, financing, building, and operating solar, onshore and offshore wind, hydroelectric, tidal energy, waste-to-energy, battery storage, and green hydrogen production. With 1.7 GW of capacity in operation or construction, the group's 780 employees are developing a portfolio pipeline of 34 GW in 20 countries across Europe, Latin America, and Africa.
