Global Scans · Affordable and Clean Energy · Weekly Summary

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all.

• The UAE nuclear power program will reduce its oil dependence and the impact of climate change and fits within the UAE's 2050 net zero ambition to dramatically enhance clean energy generation. New Lines Institute
• To reach the objectives of the EU Green Deal and to meet the EU's climate change mitigation and energy-mix targets for 2030, nuclear energy could offer solutions to reduce emissions in industries that have traditionally been difficult to decarbonise, through for example clean hydrogen production. EU Science Hub
• €5.6 billion will be invested in research and innovation to support the European Green Deal, accelerating Europe's transition towards clean energy and climate neutrality by 2050. Energy
• Houston will be at the forefront of the future of energy and the energy transition for years to come. OTC 2024 (24OTC)
• High geopolitical tensions remain a significant near-term adverse risk, particularly if the evolving conflicts in the Middle East were to intensify and disrupt energy and financial markets, pushing up inflation and reducing growth. The Guardian
• Air Products has publicly-stated that it will commit $15 billion by 2027 to clean energy projects around the world to accelerate the energy transition. Morningstar, Inc.
• The project with the EDF Group consortium seeks to produce approximately 178,000 tpa of green hydrogen by 2030, using around 4.5 gigawatts of wind and solar energy coupled with battery storage and an estimated 2.5 GW electrolyser. Gulf Business
• The global freight transport task is unlikely to decline much, and could even grow, so that freight transport will dominate total transport energy use. Monash University
• Renewable energy continues to hold great promise, and we see wind and solar providing 11% of the world's energy supply in 2050, five times today's contribution. ExxonMobil
• The energy transition requires countries to demonstrate increased climate ambition in the coming year as countries gear up to submit their enhanced Nationally Determined Contributions (NDCs) in 2025. Forum for the Future
• Recognising the climate urgency a growing list of countries and other stakeholders have called for a COP pledge on tripling renewable energy capacity and doubling energy efficiency by 2030. Forum for the Future
• Expected to generate a combined 4.8 GW of renewable energy, Orsted's projects align with Victoria's target of 9 GW offshore wind by 2040, supporting Australia's renewable energy transition. EuropaWire
• With renewables already beating fossil fuels on cost in most geographies, the International Energy Agency, a traditionally conservative forecaster, expects fossil fuel demand to peak this decade. Lombard Odier
• Over the remainder of the forecast period, the construction industry is expected to register an average annual growth of 1.7% from 2026 to 2028, supported by investments in transport infrastructure, renewable energy and industrial projects. Yahoo Finance
• More than 70% of the production of copper, cobalt and lithium - minerals crucial for the clean energy transition - could face significant or higher drought risk by 2050 under a high emissions scenario. PwC
• Australia has a plan to reach net-zero by 2050 and renewable energy (e.g. wind and solar) is the key to unlocking carbon emission reduction. Programs and courses
• Failing to scale up battery storage in line with the tripling of renewables by 2030 would risk stalling clean energy transitions in the power sector. IEA
• Mineral demand for clean energy applications will grow by three and a half times by 2030 in order to reach global net zero carbon dioxide emissions by 2050. Geographical
• Green hydrogen could replace the dependency on imported fossil fuels with indigenous production, facilitating energy security and, given Ireland's renewable energy potential far exceeding its demand, even opening up the potential for future export markets. Eolas Magazine
• BOEM finalized the Energy Areas in Oregon to support the Biden-Harrris administration's goal of deploying 30 gigawatts of offshore wind energy capacity by 2030 and 15 GW of floating offshore wind energy capacity by 2035. NewsWatch 12 KDRV
• The EU presented its strategy on Offshore Renewable Energy, aiming to increase Europe's offshore wind capacity from its current level of 12 GW to at least 60 GW by 2030 and to 300 GW by 2050. IEA
• In 2024, equipment deliveries and revenue recognition in Energy will be tilted towards the second half of the year, both in engine power plants and ES & O. Wartsila

Last updated: 12 May 2024