India, one of the world’s largest LNG importers, has unveiled a $30 billion plan to triple its clean power generation capacity by 2030 that would rely heavily on solar and wind to help reach a net-zero emissions target by 2070. For now, the country continues to eschew gas in favor of coal and renewables. Record…
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Coal Gives Way to Renewables, While Natural Gas Demand Stays Strong in IEA Outlook
Renewable sources of energy are collectively on track to eclipse coal as the world’s leading source of electricity, with capacity growth forecast to nearly double in the next five years, the International Energy Agency (IEA) said in a new report. IEA’s Renewables 2022 report forecasts that abundant energy drivers such as wind and solar will…

Energy Transition Impossible Without Oil, Natural Gas, Execs Say
The global push to reach net-zero emissions and meet the world’s future energy needs will cost trillions of dollars and require far more than renewable technologies, according to energy executives. “We’re still at that very early phase where we make these grand pronouncements and we’ve tried to jumpstart the machine without fully understanding, communally, the…

Focus Said Shifting to Energy Affordability Amid Soaring Prices, Double Standards
Since Russia’s unprovoked invasion of Ukraine, countries around the world are shifting their priorities toward energy affordability, according to a group of experts who spoke in New York City on Wednesday. The last 10 months have brought the issues of energy security, climate change and affordability “into contention,” according to Fahad Alajlan, president of Saudi…

Massachusetts Utilities Sign Hydropower PPA in Effort to Hit Climate Targets
Thirteen Massachusetts-based municipal public power entities have agreed to purchase more than 110 GWh/year of electricity from two hydroelectric power plants in Connecticut owned by FirstLight Power Resources Inc. The offtaker under the power purchase agreement (PPA) is Energy New England (ENE), a wholesale risk management and energy trading organization serving municipal utilities in New…

TC Energy’s Planned 81 MW Solar Plant to Help Power Natural Gas System
TC Energy Corp. is set to bring utility-scale solar power to its product line with the first C$146 million ($109 million) project at its Calgary home base. The initial generating site would have an 81 MW capacity and include a jumbo battery. It would supply a suburban community, as well as TC’s pipeline network. The…

RWE Doubles U.S. Renewables Footprint in $6.8B Blockbuster Deal with Con Edison
New York’s largest utility, Consolidated Edison Inc., plans to sell its clean energy businesses to the U.S. arm of German conglomerate RWE AG for $6.8 billion. ConEd, as it is better known, agreed to sell ConEd Clean Energy Business Inc. (CEB), and three related business units to RWE Renewables Americas LLC. The transaction is expected…

Cemvita, Partners Digging for Gold, Tapping Depleted Oil, Gas Wells for ‘Lowest Possible Cost’ Hydrogen Production
Following positive results from a pilot program based in the Permian Basin to produce gold hydrogen using would-be abandoned oil and gas reservoirs, Cemvita Factory Inc. said it has formed and closed funding for a new subsidiary in preparation to commercialize with its founding investors. “In a very short time frame, we moved our microbes…

Enbridge Buying Tri Global Energy to Enhance U.S. Wind, Solar Portfolio
Enbridge Inc. agreed Thursday to pay $270 million to buy Tri Global Energy LLC (TGE), a top U.S. wind and solar company with a portfolio that includes 45 generating sites in seven states. The takeover, which includes debt, adds a built-in bonus of up to $50 million if all of TGE’s projects now on the…

Jim Beam Distiller Taps RNG Project to Cut Emissions in Kentucky Expansion
Every bottle of Jim Beam Kentucky Straight Bourbon could be a little greener in the near future thanks to Beam Suntory Inc.’s inclusion of a renewable natural gas (RNG) project as a part of an expansion at its iconic Kentucky distillery. The Chicago-based producer of spirit brands like Jim Beam and Maker’s Mark has announced…