Wednesday 4th June 2014


June 4, 2014

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Clean energy investments insufficient: IEA

Up to $2.5 trillion a year will be needed to supply the world’s energy needs through 2035, according to a new report published by The International Energy Agency (IEA).

Moreover, the Paris-based agency claims that existing policies and market signals are not strong enough to encourage sufficient investment in low-carbon sources and energy efficiency.

Over the next two decades, the IEA predicts that up to $6 trillion will be invested in renewable energy, while £23 trillion will be invested in fossil fuels.

Israeli investor sows Scandinavian seed

Israeli renewable energy investor Sunflower Sustainable Investments has acquired licenses for the construction of up to five 20-MW wind farms in Finland.

The company signed an agreement for the purchase of the licences, through an 82%-owned subsidiary as part of its efforts to expand operations in the European wind power market.

The total cost of the licences is expected to be up to €5m, since the price of the permits is €50,000 per MW. The construction costs for the Finnish wind projects are estimated at €1.6 million per MW.

Northern Power develops new 3.3MW unit

Northern Power has confirmed plans to develop a 3.3MW turbine alongside its Brazilian manufacturing partner, WEG.

The agreement forms part of a wider research and development programme that will enable both firms to better meet the needs of the Brazilian market. It also marks a significant step change, up from the use of the existing 2MW unit.

The new turbine will be built in the southern Brazilian state of Santa Catarina.

French farms foiled by copper thefts

A sophisticated criminal gang has been targeting an increasing number of French wind sites, stealing up to one tonne of copper in a single turbine raid.

To date approximately twenty units – located in sparsely populated areas – have been targeted, with two successful raids and one foiled attempt having being reported in March alone, according to French paper, Le Figaro.

Security on many high-risk sites has already been significantly increased. On the open market, one tonne of copper is estimated to be worth €4,500.

China commits to CO2 emissions cap

China has confirmed it will set an absolute cap on its CO2 emissions from 2016 just 24 hours after the US announced new targets for its power sector.

The development signals a potential breakthrough in tough UN climate talks and comes ahead of a 190-nation meeting starting in Bonn, Germany, later today.

According to Reuters, He Jiankun, chairman of China’s Advisory Committee on Climate Change, outlined the commitment in Beijing, although there are no specifics outlining at what level the cap will be set.

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