The International Energy Agency’s (IEA) latest report on the renewable energy market has found that the rate of new renewable electricity capacity added in 2020 rose by 45%, compared to 2019. The 260GW of new renewable power capacity achieved last year resembles the fastest year-on-year rise...
Solar power generation in the US soared up by 26% year-on-year in 2020, according to data from investor advice service TradingPlatforms.com. In total, just under 91,000 million KWh of solar thermal and photovoltaic (PV) power was produced last year, as the renewable energy market continued to...
A consortium backed by Saudi Arabia's sovereign wealth Public Investment Fund (PIF) has signed a 25-year power purchase agreement (PPA) for electricity generated from an up to 1.5GW solar farm. The US$905.1 million Sudair project, located in Sudair Industrial City, will be capable of powering 185,000...
New data from the International Renewable Energy Agency (IRENA) has found that over 260GW of new renewable energy capacity was installed around the world last year, despite the economic impacts of COVID-19. IRENA’s 'Renewable Capacity Statistics 2021' report found that new green energy capacity in 2020...
Lightsource BP has signed a power purchase agreement (PPA) with electricity company Snowy Hydro that will see it supply renewable energy to 88 BP service stations across the Australian state of New South Wales (NSW). The clean power will be derived from a 107MW solar farm...
Global energy expert Wood Mackenzie has predicted that solar will become the cheapest source of new power by 2030 in a range of markets, including the US, Canada and China. In its latest research paper titled Total eclipse: How falling costs will secure solar’s dominance in...
Amazon has announced the acquisition of 3.4GW of renewable energy projects, in a move that will take it past rival tech giant Google as the world’s largest corporate purchaser of clean energy. Jeff Bezo’s online retail giant said the deals for 26 solar and wind projects...
Norway’s Scatec Solar has signalled its intention of becoming a global renewables company by agreeing to buy state-owned hydropower firm SN Power for US$1.17 billion. The combined company will have 450 employees, power plants in 14 countries and 3.3GW in capacity at plants in operation and...
The UK surpassed its all-time peak solar generation record earlier this week, with lower pollution levels due to the COVID-19-induced lockdown and favourable weather providing a boost to solar output. A peak of 9.68GW was recorded by Sheffield Solar live PV generation tracker at around 12:30...
A consortium led by ACWA Power has achieved financial closure for its 500MW solar PV Independent Power Project (IPP), the largest utility scale solar plant in the sultanate of Oman. The Saudi Arabian power company and its partners GIC and APEC secured funding on a debt...