Climate change think tank ECCO and consultancy Artelys said Italy would need to add 190 gigawatts of renewable energy capacity by 2035 to achieve a G7 net-zero electricity system. The country relies heavily on the electricity system, with more than 50 percent of its electricity coming from natural gas, oil or coal. To achieve this goal, Italy needs to increase its installed solar and wind capacity by 7 sites by 2030 and by 8 sites by 2035. By 2035, electricity generation from natural gas will be almost zero, and thermal power plants will be converted to hydrogen and biogas.
Athein is seeking to raise $250 million to $300 million in equity from investors to fund its planned solar and wind projects in India, the Philippines and Vietnam. The company has hired Hong Kong-based Green Horizon Capital Partners to advise on the equity raise. India and Southeast Asian countries are rapidly increasing their use of renewable energy due to blackouts and climate change. The equity financing is Athein's first joint venture with five solar companies.
For the first time since 2020, wind power will overtake coal as Germany's largest electricity supplier in the first quarter of 2023. Conventional energy sources still account for more than half of electricity production. Germany aims to generate at least 80 percent of its electricity from renewable sources by 2030.
The Japanese government has adopted a revised plan to use more hydrogen as fuel to reduce carbon emissions. It set an ambitious goal of increasing annual supply sixfold and pledged 15 trillion yen in funding. The plan prioritizes nine strategic areas, including the development of water electrolysis equipment, fuel batteries and large tank trucks for transporting hydrogen. Japanese leaders aim to transform the country into a "hydrogen society" by promoting the commercial use of pure hydrogen and ammonia. Japanese Prime Minister Fumio Kishida has set an ambitious goal to encourage long-term investment in developing large-scale hydrogen supply and demand. Economic sanctions against Russia have intensified competition for LNG, necessitating a long-term strategy to ensure a stable energy supply.
The Suzlon Group has achieved the milestone of 20 GW of installed wind turbine capacity worldwide, with 12,467 wind turbines installed in 17 countries, spanning six continents. Together with its late founder and chairman Tulsi Tanti, Suzlon has shaped the Indian wind energy industry since 1995. Suzlon's journey from the first 270kW turbine in 1995 to a 3MW turbine in 2023 will continue to inspire generations to come. Headquartered in Suzlon One Earth, Pune, the group has a diverse workforce of 5,900 employees with an operating track record of over 28 years.
The world will add a record amount of renewable electricity capacity this year as governments and consumers seek to offset high energy prices and capitalize on a solar boom. It is expected to reach 440 GW by 2023, bringing global installed capacity to 4,500 GW, roughly as much as the combined generating capacity of the United States and China. The supply chain for wind turbines is not growing fast enough to meet demand, and the grid must be upgraded and expanded to account for the intermittency of solar and wind power. To meet the goals of the Paris climate agreement, emissions need to be halved by 2030 and cut to "net zero" by mid-century. Countries will discuss setting international targets for renewable energy rollout at the UN climate summit.