The UK awarded significantly more capacity in this CfD round than in the previous. In 2023, the UK awarded only 3.7 GW of renewable capacity, including 1.9 GW of solar capacity and 1.5 GW of onshore wind.

The first agreement was signed between Egypt’s Ministry of Electricity and a consortium of the UAE’s TAQA and France’s Voltalia for the development of a 3.2 GW renewable energy project, which will feature 2.1 GW of solar and 1.1 GW of wind capacity. The project would be located around 130 kilometers south-east of Cairo, near the 545 MW Zarafana wind project, and could be commissioned by 2028.

The independent DEFRs do not require the availability of surplus renewable electricity. In fact, the independent DEFRs would not require the existence of intermittent renewable generation to support a reliable grid. They effectively render the renewable generators redundant; and, redundancy is expensive.

When you shackle the most cost effective and scalable source of energy, fossil fuels, and you subsidize unreliable solar and wind, that wouldn’t otherwise be competitive, energy necessarily becomes more expensive, less reliable and less secure. So again, it’s very simple.

Ultimately, an all-in-one Grid-Edge DERMS solution provides a lower-cost alternative to programs that are siloed, while also creating additional layers of complication for program managers and customers alike.

The onshore megaproject that will cost more than $10 billion will begin generating electricity in 2032,

The Brent crude oil price will increase from an average of $90 per barrel (b) in the fourth quarter of 2023 to an average of $93/b in 2024.

The ceiling for bids from offshore wind companies in the next auction round is likely to be considerably more than this year’s £44 ($54) of guaranteed revenue per megawatt-hour of power produced, according to people familiar with the matter.

Funding and support are abundantly available for clean energy projects in America. The federal government has allocated billions in funding to incentivize Americans to move to clean energy.

The Brent spot price increasing to average $95 per barrel (b) in 2024.

The Brent crude oil spot price averages $85 per barrel (b) in August. The Brent price averaging $86/b in the second half of 2023 (2H23).

BNEF estimates that the global annual green investments would need to almost triple to $6.9 trillion by 2030 to have any hope of getting to net zero by 2050.

Wind employs twice as many people as coal power generation. However, coal still produces 19.5% of our electricity while wind only accounts for 10.2%.

The Brent crude oil spot price will average $80 per barrel (b) in 4Q23 and $84/b in 2024.

By 2021, wind, solar, and natural gas provided 48 percent of Germany’s electricity, and provided most of the electricity consumed in Italy (63%), the UK (64%), and the Netherlands (78%).