Copenhagen Infrastructure Partners (CIP) has entered into a partnership with Bute Energy (Bute) to invest in a 2,000 MW portfolio of onshore wind and solar projects, some with co-located battery energy storage systems, under development in Wales (United Kingdom).

Kuwait also plans to develop a 2 GW wind and solar project, which will be tendered by the Kuwait Authority for Partnership Projects. Meanwhile, Iraq is also considering the strategic adoption of renewable energy as a way to wean itself off of Iranian imports of gas and power, its oil minister Ihsan Ismail told IPTC.

India also plans to simplify the authorisation process for green hydrogen production (including a single portal for all clearances and land provision) and to provide federal financial support to develop electrolysers.

Swedish Modular Reactors has been granted just over SEK99 million ($10.6m) in support of demonstrating a smaller lead-cooled reactor. Solkompaniet Sverige has been granted SEK14.4 million to support demonstrating a smart solar park.

Switzerland plans to build two to three gas-fired plants with a total capacity of 1 GW as part of a gas reserve.

In the situation that has obtained in recent months on energy markets, it has become clear that one of the foundations of stability of the modern global world is, in the first instance, reliable energy supply, which cannot be provided without observing a reasonable balance of energy sources and an absence of discrimination against traditional sectors of the fuel and energy complex.

The partnership between the two countries has led to the joint work on several agreements and Memorandum of Understanding in several areas, including: The Economy, Climate Change and Houbara Conservation, Industries and Advanced Technologies, Low Carbon Hydrogen Developments and Investments, Food Security, Financial Services, and Issuance of India-UAE Joint Stamps.

Israel currently aims for 30% of renewables in power generation by 2030.

Sweden targets 120 TWh of power generation at sea, which would cover most of its current electricity consumption (around 140 TWh/year).

The lodged offers represent over AUD 100 billion (USD 71.7bn/EUR 63bn) of potential investment in 24 solar parks, 13 onshore and seven offshore wind farms, 35 large-scale batteries and eight pumped hydro plants. It is estimated that these projects have the potential to deliver more than 100,000 GWh of total electricity per year.

Romanian energy trader and developer Enero Furnizare plans to develop solar projects with a total capacity of 1GWp in Romania this year

Projects for the creation of new nuclear power facilities will receive about RUB56 billion from the National Wealth Fund (NWF), another RUB40 billion will be allocated from the budget.

Texas is the second largest state by both area and population and has major expertise in the energy industry. Texas is in the south of the US, which allows it to generate plenty of solar electricity even in winter.

This dynamic leads to rising global oil inventories from 2Q22 through the end of 2023, and the Brent spot price will fall to an average of $87/b in 2Q22 and $75/b in 4Q22. The Brent price will average $68/b for all of 2023.

Throughout the West’s diverse energy resource portfolio, in recent years there has been a shift away from large baseload resources (e.g., coal, nuclear) toward more renewable and largely variable resources.