Latest news with #renewable
E&E News
a day ago
- Business
- E&E News
Q&A: Canadian Energy Minister Tim Hodgson
OTTAWA — Canadian Prime Minister Mark Carney enlisted his former Goldman Sachs colleague, Tim Hodgson, to fight an 'economic war' with the United States. Hodgson, a 64-year-old rookie politician but a seasoned C-suiter, is staring down a hefty to-do list as Canada's new minister of energy and natural resources. Carney and Hodgson have pledged to transform Canada into an 'energy superpower' that depends less on American customers. That means balancing the demands of an oil-patch hungry for new customers and growing renewable energy sectors. Advertisement As he got his feet wet in the political arena, Hodgson found inspiration in the most Canadian of ways: a stressful hockey game.
Zawya
a day ago
- Business
- Zawya
Egypt: Cabinet approves amendment to AMEA Power's Abydos 2 solar project timeline
Arab Finance: The Egyptian cabinet has approved a request by AMEA Power, a subsidiary of the Al Nowais Group, to revise the commercial operation timeline of the Abydos 2 solar energy project, according to a statement. Under the new plan, the 1,000-megawatt solar power plant, accompanied by 600 megawatt-hours of energy storage capacity, will be completed in a single phase in June 2026, instead of the previously scheduled two-phase rollout. The company reaffirmed its full commitment to advancing the project, highlighting its dedication on financial, technical, and ethical fronts to ensuring the successful and timely completion of the facility. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Globe and Mail
a day ago
- Business
- Globe and Mail
Global energy investment to reach record US$3.3-trillion, IEA says
Global energy investment is set to increase to a record US$3.3-trillion this year, with clean technologies attracting twice as much capital as fossil fuels, according to a new report. Forecasts in the 2025 World Energy Investment report, released Thursday by the International Energy Agency, underscore how global investment trends are leaning toward clean energy, even at a time of geopolitical tensions and economic uncertainties. Fatih Birol, executive director of the IEA, said the fact clean energy will amount to two-thirds of investment this year is driven by a significant drop in the cost of many green technologies, combined with countries seeing them as a key part of their energy security strategies. 'In Canada, in the U.S., we still need oil and gas. We will need them for years to come. But we also need nuclear power. We need wind, we need solar. We need all these technologies for a secure energy system,' Dr. Birol said in an interview from Paris ahead of the report's release. Lower oil prices and demand expectations will result in a 6-per-cent fall in upstream oil investment in 2025 – the first year-on-year decline since the COVID-19 slump in 2020 and the largest since 2016, the report says. Canada's canola farmers stand to gain from U.S. tax breaks for clean fuel Global refinery investment in 2025 is set to fall to its lowest level in 10 years. The IEA said in the report it initially expected oil and gas spending to be flat in 2025, based on company announcements, but investment sentiment has become more downbeat as oil prices come under pressure. The report projects overall investment in oil and gas production this year to total just under US$570-billion. By contrast, the global liquefied natural gas market is set to experience its largest-ever capacity growth between 2026 and 2028, with investment in new LNG facilities boosted by projects preparing to come online in the United States, Qatar, Canada and elsewhere. Canada is a cornerstone of the global energy market, Dr. Birol said, and he applauded the country's efforts reduce greenhouse gas emissions, particularly in the oil and gas sector. Report finds Alberta's restrictive renewables policies dampened investment But if oil and gas are to remain a significant part of the global energy mix, fossil fuel companies will need to continue investing in those emissions-reducing technologies, he said. 'There is an excellent track record for methane emissions, for example, in Canada. And I hope that we see similar trends in the carbon emissions thanks to carbon capture and storage,' he said. Per-barrel emissions from Alberta's oil sands dropped by 26 per cent between 2012 and 2023, according to the most recent Oil Sands Greenhouse Gas Emissions Intensity Analysis, released Wednesday. That's a 4-per-cent improvement over 2022. Alberta's natural gas production and processing emissions have declined by 24 per cent since 2015, and methane emissions by 52 per cent since 2014, according to the analysis. On the electricity front, never before has there been such massive growth in global demand, Dr. Birol said. Between now and 2030, demand will increase as much as the current consumption in the U.S. and China combined. Editorial: Free the market for renewable energy in Alberta The cost of utility-scale batteries has fallen by two-thirds over the past decade, and global battery investment is approaching the level of gas-fired power generation investment, the report notes. But investment in electricity grids, now at US$400-billion per year, is failing to keep pace with overall spending on generation and electrification. As demand for energy continues to grow, more countries are embracing homegrown energy sources, Dr. Birol said. Take nuclear, for example. Capital flows to the sector have increased by 50 per cent over the past five years and are on track to reach around US$75-billion in 2025, according to the report. Dr. Birol attributes that growth to Russia's war against Ukraine, which 'reminded Europeans how important it is to increase domestic electricity generation.' In Europe, countries are extending the lifetime of existing nuclear power plants and building new ones. There is also huge interest in small modular reactors, including in Canada. 'I think this is good news for the world, both in terms of energy security, but also addressing our climate challenges,' Dr. Birol said.
Zawya
3 days ago
- Business
- Zawya
Benin's Minister of Energy, Water and Mines to Speak at African Energy Week (AEW) 2025 Amid Exploration, Energy Trade Surge
Kingnidé Paulin Akponna, Minister of Energy, Water and Mines of Benin, has confirmed his participation as a speaker at African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. His attendance comes as Benin's upstream sector gains renewed traction, supported by drilling campaigns, a robust pipeline network and major public-private partnerships aimed at revitalizing both hydrocarbon and renewable energy development. Minister Akponna will join key stakeholders to showcase Benin's strategic positioning in West Africa's energy landscape, highlight investment opportunities and engage in high-level dialogue to advance cross-border cooperation and infrastructure development. As a country seeking to strengthen its energy independence and regional trade integration, Benin has made substantial progress across the oil, gas and renewable sectors. From offshore oilfield development to critical trade finance programs, and from the commissioning of new solar capacity to the operationalization of the Niger-Benin Export Pipeline, Benin is emerging as a competitive and forward-looking energy market. Minister Akponna's presence at AEW: Invest in African Energies 2025 will underscore Benin's renewed commitment to unlocking its hydrocarbon potential, diversifying its energy mix and forging stronger investment partnerships with global stakeholders. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Benin's energy resurgence is marked by a series of recent milestones. In February 2025, Niger confirmed the export of over 14 million barrels of oil through the Niger-Benin Export Pipeline, operated by the China National Petroleum Corporation. This $4.6 billion infrastructure investment has become critical not only to Niger's debt repayments but also to Benin's strategic growth as a regional transit hub. Exports from the pipeline resumed in August 2024 following diplomatic agreements, reaffirming the pipeline's importance for regional stability, energy security and trade. In December 2023, offshore oil developer Akkrake Petroleum signed a production sharing contract for a 76% operated interest in the shallow-water Sèmè Field, situated in Benin's offshore Block 1. With historical production of 22 million barrels, the field is now well-positioned for revitalization through a modern production system that includes a jack-up mobile production unit and floating storage. A vertical exploration and appraisal well is planned for mid-2025, and if successful, will be converted into a producer, followed by horizontal drilling in 2026. This marks the return of significant drilling activity in Benin's offshore blocks and supported the country's ambition to unlock untapped hydrocarbon reserves. Meanwhile, Benin continues to position itself as a solar development hotspot. With a goal of reaching 150 MW by 2026 and 300 MW by 2030, the country is ramping up renewable deployment. A major step forward was the commissioning of the second phase of the Illoulofin solar PV plant in 2024, a 25 MW project delivered through a public-private partnership with Japan's Toyota Tsusho and the Société Béninoise de Production d'Électricité. Representing the first large-scale Japanese-led renewable project in West Africa, the plant demonstrates the country's openness to international clean energy investment and lays the groundwork for future collaboration. 'Benin represents one of West Africa's most promising frontiers for upstream development midstream integration and clean energy diversification. By accelerating projects across the oil, gas and renewable energy industries, the country is reaffirming its position as both an attractive market to invest as well as a regional trade hub,' stated Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
The Independent
29-05-2025
- Business
- The Independent
Appeals court revives Native American challenge to $10B SunZia energy transmission project
A federal appeals court has sided with Native American tribes in their fight against the federal government over a $10 billion energy transmission line designed to carry wind-generated electricity from New Mexico to customers as far away as California. The Tohono O'odham Nation — along with the San Carlos Apache Tribe, the Center for Biological Diversity and Archaeology Southwest — sued the U.S. Interior Department and then-Interior Secretary Deb Haaland in 2024. They argued that the agency failed to properly consult with the tribes on a historic property designation for southern Arizona's San Pedro Valley. A three-judge panel of the 9th U.S. Circuit Court of Appeals ruled Tuesday that a lower court erred in dismissing the case last year and ordered the matter to be reconsidered. The panel concluded that a proper consultation would have resulted in the valley being designated as a historic property and that the agency was required to identify historic properties that would be affected and ensure any adverse effects would be avoided, minimized or mitigated before authorizing construction. The Tohono O'odham Nation had vowed when the case was dismissed to pursue all legal avenues for protecting land that it and other tribes consider sacred. Tribal Chairman Verlon Jose reiterated that the tribe will continue to fight for its rights and that Tuesday's ruling marked an important victory in the long-running dispute. 'The Tohono O'odham Nation supports clean, renewable energy — when it is done the right way,' Jose said in a statement. 'With the SunZia project, the federal government failed to work with tribes to protect our cultural resources as required by law." The valley represents a 50-mile (80-kilometer) stretch of the planned 550-mile (885-kilometer) conduit. The route is expected to carry electricity from wind farms in central New Mexico to existing transmission lines in Arizona to serve populated areas as far away as California. The project was among those touted as an important part of former President Joe Biden's goal for a carbon pollution-free power sector by 2035. Construction in the San Pedro Valley already is complete, said Matt Dallas, a SunZia spokesperson. 'We are reviewing the opinion, and SunZia remains on track for commercial operation in 2026.' Dallas said. In response to questions about the latest ruling and whether the federal government was in discussions with the tribes, Interior spokeswoman J. Elizabeth Peace said the department doesn't comment on pending litigation. Peace did say the agency 'remains committed to stewarding our natural and cultural resources, honoring tribal trust responsibilities and managing public lands for all Americans.' President Donald Trump in recent weeks has signed a number of executive orders promoting domestic energy production and has cited the need for reliability of the nation's electric grid amid growing demand driven partly by data centers and artificial intelligence.
