Upon closing, Aramco will receive upfront proceeds of around $12.4 billion, further strengthening its balance sheet through one of the largest energy infrastructure deals globally.

The Kingdom wants to increase the generation capacity of renewable energy sources to about 58.7 gigawatts by 2030, of which 40 gigawatts (GW) would be from solar and 16GW from wind energy and the balance coming from other renewable energy sources,

Norges Bank Investment Management will pay 1,375 million euros for its 50 percent interest in the offshore wind farm. No external debt financing will be involved in the transaction.

Scientific assessments have made clear that nuclear energy is needed to address the related causes and the challenges ahead of these disruptions. Despite this, the limited recognition this low carbon, dispatchable energy source receives from the European Commission is at best paradoxical, and certainly counterproductive.

The new group, Sustainable Energy Group (SEG), will combine Energy & Resources (E&R) and Power & Renewables (P&R) groups and have about $18 billion in assets.

“We can provide universal access to energy in Africa primarily through renewable energy. I call for a comprehensive package of support to meet this objective ahead of COP26,” Mr. Guterres said, referring to the UN climate change conference in November.

Novatek seeks to raise $11 billion in external financing and has said it planned to get the funds by the first half of this year.

"In the medium and long term, JGC Corporation will work with Fluor to secure and execute SMR EPC projects on a global basis, and intends to seek opportunities in integrating SMRs with renewable energy, as well as with hydrogen production and seawater desalination," JGC said.

The UAE Sunday announced $3 billion investment in Iraq in a fresh bid to strengthen the economic and investment relations between the two fraternal nations.

The plan proposes $100 billion in spending on upgrading and building out the nation's aging and regionally siloed electric transmission system. Various studies have estimated the U.S. will need to double or even triple its electric transmission capacity to successfully decarbonize its economy by midcentury.

The consortium, which includes ITOCHU Corporation, Hitachi Zosen Inova, BESIX Group and Tech Group, will build and operate the AED4 billion ($1.1bn) project under a 35-year concession period with Dubai Municipality.

Through the partnership, RPC and Benbros will work on 14 projects in the regions of Andalucía, Extremadura, Castilla la Mancha, Aragon and Murcia.

Over the past few years, Russia has introduced several state incentives aimed at keeping up with the rising role of renewables in the energy mix.

"Based on this document, China will be a steady importer of Iran's oil, and Iran should remove China's concerns for return of its investment,"

Overall, the company plans to invest US$2.7bn in 2021 (+73% compared with a previous plan), of which 80% will be aimed at boosting oil and gas production in its fields,