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    Central American Development Bank commits $800 million toward the fuel relief effort

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Italy’s Innovatec targets EUR 100m in revenue from new solar business

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    Investment In Clean Energy Tech Crosses The $1 Trillion Mark

    South Korea Lowers The Renewables Target For Nuclear Power

    Sweden Aims To Legalise More Nuclear Power Plant Expansion

    Despite Challenges, EU New Wind Installations Rise By 33%

    Seven Dormant Japanese Nuclear Plants To Be Reactivated

    India Okays $2.4 Billion Green Hydrogen Incentive Package

    New Breeder Reactors Can Produce More Than Power In China

    German Regulator Hikes The Price Cap For Solar And Wind Bids

    Energy Shortage In Germany Encourages Hydrogen Transition

  • Market Moves
    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Atlas and Hitachi to develop energy storage systems for renewable projects

    Nine New Countries Sign Up for Global Offshore Wind Alliance at COP27 in Sharm El-Sheikh

    SolarDuck to build 5MW floating solar demonstrator integrated with offshore wind farm

    United Kingdom Onshore Wind Generation Has Now Reached 37GW

    ABO Wind connects first wind farm in Poland

    By 2040, Floating Offshore Wind To Add 67K Total Jobs In UK

    Europe’s latest wind offshore auction mainly using non-price criteria is a success

    Italy's Innovatec targets EUR 100m in revenue from new solar business

    Italy’s Innovatec targets EUR 100m in revenue from new solar business

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

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Investment In Clean Energy Tech Crosses The $1 Trillion Mark

in News, Renewable Power

Over $1.4 trillion was invested in clean energy technologies in 2022, representing over 70% of the growth in annual energy investment, up from $1 trillion in 2015.

The International Energy Agency stated in a research report that more than 80% of the roughly $1 trillion in overall investment in the power sector, which is dominated by solar, went toward renewables, power networks, and energy storage. A rise over 75% of the roughly $800 billion in investments was made in 2018.

Over the same time period, the proportion of fossil fuel electricity fell from 20% to 10%.

Oil and gas businesses increased their capital expenditure on clean energy technology, which is predicted to reach over 5% of their global upstream expenditure in 2022, up from just 0.5% in 2015. As a result, the amount of investment in oil, gas, and coal rose to over $800 billion in 2022 from over $1 trillion in 2015, with oil and gas firms boosting their capital investment in clean energy technologies.

By 2021, spending on electric vehicles will have risen to roughly $280 billion, or almost ten times what it was in 2015.

Despite recent advancements in green energy technologies, the IEA stated that the world remains primarily dependent on fossil fuels for the provision of energy, with the global share of fossil fuel energy in the mix staying at roughly 80%.

It noted that the share of fossil resources in primary energy consumption rose to 80% in 2021 from 77% in 2000 and that, in fact, development in green electricity supply since 2000 has already exceeded that of oil, gas, and coal, particularly in emerging and third world nations.

Over the same time frame, the IEA said that its share in developed economies decreased from 82% to 77%.

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