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From oil to solar energy: Saudi Arabia plots a shift to renewables

Life in Saudi Arabia has long been defined by the oil that flows from the kingdom. Over decades, the vast wealth it pumped out paid not just for gleaming towers and shopping malls but also for a government sector that

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Chile: solar to become primary energy source by 2030

The government of Chile and the four groups that comprise the Chilean association of electricity producers, Generadoras de Chile – French energy group, Engie, Italian utility, Enel, U.S.-based AES Gener, and Chilean power provider, Colbun – have agreed not to

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Lloyd’s of London to divest from coal over climate change

Lloyd’s of London, the world’s oldest insurance market, has become the latest financial firm to announce that it plans to stop investing in coal companies. Lloyd’s will start to exclude coal from its investment strategy from 1 April. The definition

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Global solar investments topped US$160.8 billion in 2017

Bloomberg New Energy Finance (BNEF) has reported that global solar investments topped US$160.8 billion in 2017, an 18% increase over the previous year and importantly, despite capital costs declining around 25%. Not surprisingly, China led to the investment, accounting for

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To save climate, stop investing in fossil fuels: economists

The development of oil, gas and coal energy must stop in order to avoid the worst ravages of global warming, 80 top economists said Thursday, December 12, days ahead of a climate summit in Paris. “We call for an immediate end

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World Bank to stop funding oil and gas projects

The President for the World Bank, Jim Yong Kim, said December 12th the institution will stop all lending for oil and gas projects after 2019, with the exception of certain gas projects in the poorest countries facing exceptional circumstances. Even

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Companies are realizing that renewable energy is good for business

The conservative city of Georgetown, Texas, runs on renewable energy. After all, wind and solar power are more predictable and easier to budget than oil and gas. Clean power pushes may be associated with more left-leaning cities, but Republican mayor

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World’s biggest sovereign wealth fund proposes ditching oil and gas holdings

The Norwegian central bank, which runs the country’s sovereign wealth fund – the world’s biggest – has told its government it should dump its shares in oil and gas companies, in a move that could have significant consequences for the

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Delivering the energy transition for jobs, growth and investment in Europe

Last 7th of November the European Parliament organised in Brussels along the European Commission the High-level conference on clean energy financing: delivering the energy transition for jobs, growth and investment, where the necessity and proposals to carry out the energetic

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World petrol demand ‘likely to peak by 2030 as electric car sales rise’

World petrol demand will peak within 13 years thanks to the impact of electric cars and more efficient engines, energy experts have predicted. UK-based Wood Mackenzie said it expected the take-up of electric vehicles to cut gasoline demand significantly, particularly

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