China had slashed the subsidy in 2020 from the previous year by around 30%

With renewable energy making up a staggering 70% of Kenya’s energy mix in 2018 (Onyango, 2018) and as high as 87% as of January 2020, (Zarembka, 2020) one would be curious to see what steps Kenya took to shape its renewable energy landscape and attract private sector investment.

TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and Natural Law Energy (NLE) today announced they have signed a definitive agreement which allows NLE to make an equity investment of up to $1 billion in the Keystone XL pipeline project.

The pressure on Energy Solution Providers has been building for quite some time. Instead of backing coal, new finance is getting behind renewable energy and putting shareholder pressure on forcing decisions on those still involved in the fossil fuel areas.

The government will spend 1.2 trillion rupees ($16.1 billion) on the latest stimulus program in addition to the 1.45 trillion rupees announced on Wednesday,

Annual investment in renewables would need to almost triple from an average of just below USD 300 billion in 2013-2018 to almost USD 800 billion through 2050.

In total, $867 billion has been invested since 2015, when the Paris Agreement was struck to limit global warming.

Pursuing the opportunities created by the “energy revolution” facing the world’s major economies should help to boost net profit by more than 40% from 2019 to 5 billion euros in 2025, Iberdrola said.

Increasing annual investment to $2 trillion per annum between 2021 and 2023 will encourage more private sector investment, providing an effective stimulus for the global economy.

DEWA said that it has attracted investments worth approximately $10.8 billion from the Independent Power Producer (IPP) model, which strengthens public-private partnerships.

China has a refining capacity of 13.1 mb/d, i.e. 2.5 times as high as in 2000 (5.4 mb/d).

In September 2019, Russia awarded a €1.3bn funding to build the project, which will correspond to 85% of the total investment.

Public opinion, governmental regulations, and most importantly, economics, are pushing the O&G industry to diversify its assets into renewables.

In May 2020, South Korea unveiled a long-term energy plan (basic energy policy for the years 2020-2034) shifting from thermal and nuclear power generation to renewable energies

This target follows an ILS80bn (US$24bn) plan unveiled in June 2020 and aimed at increasing the share of solar in the power generation to 30% by 2030,