Natural gas and electricity prices in Europe have plunged from summer peaks thanks to mild weather and a monthslong scramble to fill gas storage ahead of winter and replace Russian supplies during the war in Ukraine.
French lawmakers approved President Emmanuel Macron’s pick for CEO and chairman of soon-to-be fully state-owned energy giant EDF with a narrow majority, handing over the reins to the current chairman of Schneider Electric, Luc Rémont.
Russia’s war in Ukraine has triggered an acceleration in the green transition.
Although Hungary’s agriculture minister has recently hailed the ethanol industry’s fresh investments in animal feed and foodstuffs in addition to biofuel production, the European Commission appears to remain unconvinced, still invoking the “food versus fuel” argument.
Poland’s electricity network requires a major investment of at least €25 billion to enable the transition away from coal towards renewables and nuclear energy.
Saudi Arabia’s national oil company Saudi Aramco has launched a $1.5 billion Sustainability Fund that will invest in technology supporting a “stable and inclusive” energy transition, making this among the largest-ever sustainability-focused venture capital funds in the world.
Posted a record profit for the third quarter, driven by high energy prices and soaring prices of LNG as Europe scrambles to procure gas ahead of the winter.
The transformation of Poland’s energy sector, including measures to support the ailing coal mining sector, could cost up to €135 billion by 2030.
The European Union has pledged €500 million to improve energy infrastructure in the Western Balkans, commission chief Ursula von der Leyen said Wednesday (26 October) in North Macedonia on the first stop of a tour of the region.
Investment in renewables must more than triple to $1.3 trillion annually by 2030 if the world is to reach net-zero emissions by 2050, the International Energy Agency (IEA) said on Thursday.