Month: April 2021

Venture Capital Bets Big On Texas As World Capital Of Clean Energy Tech

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Venture capital fund manager Energy Transition Ventures said on Tuesday it had launched the first venture fund in Texas that will exclusively invest in energy transition technologies. The fund is founded in the world’s energy capital Houston by cleantech start-up executives and venture capitalists Craig Lawrence and Neal Dikeman, with anchor investment from two operating companies from the GS Group of South Korea. Energy Transition Ventures will be investing in early-stage start-ups in North America. “Texas is the energy capital of the world, and outside of corporate venture capital, there…

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Saudi solar plant locks in new record low price for power: 1.04c/kWh

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Saudi Arabia looks to have notched up a new record-low price for large-scale solar power, with one of seven projects recently signed up to power purchase agreements contracted to sell electricity for just over $US10 per megawatt-hour ($A13/MWh). According to local press, Saudi Arabia’s energy minister Prince Abdulaziz Bin Salman announced the new record on Thursday last week at the inauguration of the 300MW Sakaka solar power plant in Al-Jouf, the kingdom’s first renewables project. At the plant’s launch, Prince Abdulaziz announced that PPAs for seven other renewable projects across…

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PPL receives Rs903m from Byco via NAB

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KARACHI: The Paki­stan Petroleum Limited has received Rs903.218 million from the National Accountability Bureau (NAB) against outstanding receivables from Byco Petroleum Pakistan Lim­ited, the company ann­ounced on Monday. The PPL informed the Pakistan Stock Exchange (PSX) about it in a regulatory filing and said that the company would pursue for remaining over Rs253m. “In pursuance of Rule 5.6.1 of your Rules, we hereby inform you that the company has received a pay order for Rs903.218 million from the National Accountability Bureau (NAB) against long outstanding receivables of the Company from…

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First fast charging unit station for electric vehicles installed in Pakistan

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In a first of its kind, a fast-charging unit station for electric vehicles has been installed by Tesla Industries in Islamabad, paving way for the e-vehicles to be recharged, ARY NEWS reported on Friday. The unit was inaugurated by the President of the Islamabad Chamber of Commerce Sardar Yasir Ilyas along with Tesla Industries CEO Aamir Hussain. Tesla CEO said that they have acquired the technology to develop the fast charging station for electric vehicles within Pakistan and soon between 60 to 120 of them would be installed in nine…

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Battery storage 30% cheaper than gas peaker plants for firming renewables

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Australia’s Clean Energy Council (CEC) says in a newly published paper that large-scale battery energy storage has become the best way to spread energy generated by solar and wind throughout any day, and to instantly respond to peak energy needs in the National Electricity Market (NEM) for long and short durations. The paper compares the levelized cost of energy delivered by a new 250 MW gas peaker plant with 250 MW four-hour and two-hour grid-scale batteries. It finds that overall – when various costs are calculated – that the batteries are 17%…

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