Posts tagged ‘energy’

July 8, 2011

Green energy reaches record level

By Mark Kinver Environment reporter, BBC News Solar power station, India (Image: AP) India saw a 25% increase in renewables spending, with investment reaching $3.8bn in 2010 Global investment in renewable energy sources grew by 32% during 2010 to reach a record level of US$211bn (£132bn), a UN study has reported.


The main growth drivers were backing for wind farms in China and rooftop solar panels in Europe, it said.


It also found that developing nations invested more in green power than rich nations for the first time last year.


The Global Trends in Renewable Energy Investment 2011 report was prepared for the UN by Bloomberg New Energy Finance.


“The continuing growth in this core segment of the green economy is not happening by chance,” said Achim Steiner, executive director of the UN Environment Programme.


“The combination of government target-setting, policy support and stimulus funding is underpinning the renewable industry’s rise and bringing the much needed transformation of our global energy system within reach.”


In 2010, developing economies spent more on “financial new investment”, pumping $72bn into renewable projects compared with the $70bn outlay by developed economies.


China topped the table of investors again, spending $48.9bn – up 28% from 2009. There were also sizeable increases in investment from other developing or emerging economies:

South and Central America: up 39% (from 2009 levels) to $13.1bnMiddle East and Africa: up 104% to $5bnIndia: up 25% to $3.8bn

However, the report stated, there was not growth in all sectors. There was a 22% decline in the investment in large-scale projects – such as windfarms – within Europe, where the funding fell to $35bn.


But there was a surge in small-scale projects, such as photovoltaic (PV) solar panels, especially within Germany, where investment in a “micro-solar boom” had increased by 132% to $34bn compared with 2009 figures.


As the renewable technologies continued to mature, the report added, the cost per megawatt (MW) continued to fall. It said that the cost of PV modules had fallen on a per-MW basis by 60% since 2008.


The authors forecasted: “Further improvements in the… cost of energy for solar, wind and other technologies lie ahead, posing a bigger and bigger threat to the dominance of fossil-fuel generation sources in the next few years.”


Mr Steiner said that there was a number of key gatherings coming up over the coming 12 months that would help maintain the momentum towards renewables.


He said: “The UN climate convention meeting in Durban, South Africa, later in the year, followed by the Rio+20 summit in Brazil in 2012, offer key opportunities to accelerate and scale-up this positive transition to a low-carbon, resource-efficient green economy.”

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June 30, 2011

PM calls for strategy to meet energy needs

PM Gilani instructs ministry to immediately prepare gas load management plan. PHOTO: FILE

ISLAMABAD: 

Prime Minister Yousaf Raza Gilani has directed the Ministry of Petroleum and Natural Resources to prepare a comprehensive strategy to meet energy needs, particularly the demand for gas and oil, for the next two years.


He also stressed that a gas load management plan should be prepared and announced immediately.


He was talking to Minister for Petroleum and Natural Resources Dr Asim Hussain, who called on him at the Prime Minister’s House on Wednesday.


The prime minister reiterated the government’s commitment to explore all possible options to ensure supply of electricity and gas in the country. He expressed confidence that besides tapping domestic sources, agreements with regional countries to meet energy needs would bring positive results.


Earlier, the petroleum minister briefed the prime minister on his recent visit to Iran and a meeting with the Iranian energy minister. He said a gas pipeline stretched over 1,100 km had been completed on the Iranian side while progress on the pipeline project on the Pakistani side was quite satisfactory.


Discussing import of electricity from Iran, he pointed out that an Iranian team of experts would arrive in Pakistan soon to assess feasibility of the project, particularly establishing connection with the national grid.


Hussain said work on Kunner-Pasakhi Deep oil and gas exploration project had started and 100 million cubic feet of gas would be available from October this year.


Discussing progress on the liquefied natural gas (LNG) project, he said 17 businesses had shown interest in supply of gas to Pakistan, of which prominent bidders were Shell, Vitol, GDF, Norwegian Fund and Daewoo Group. They also talked about the prospects of gas price rationalisation.