Month: September 2023

Britain’s Wind Power Capacity Overtakes Gas For The First Time

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Wind-Power

Britain has now installed more wind capacity than any other type of power source, with wind power capacity overtaking combined-cycle gas power stations for the first time and ending more than a century of fossil fuels dominating the electricity system, a new report prepared for power group Drax showed on Wednesday.    As of June 2023, Britain’s fleet of wind farms reached 27.9 gigawatts (GW) of capacity, exceeding the gas-powered stations total capacity of 27.7 GW, according to the study prepared by experts from Imperial College London and the University of Sussex for the…

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China’s Solar Boom: Capacity Set To Hit 1 TW By 2026

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China-Solar

Investment in solar PV construction hit ~$15.8 billion in the first half of 2023, outpacing other power generation sources. Despite land constraints in coastal regions, provinces like Henan and Shandong lead in distributed solar PV installations, with the nation halfway through its five-year solar installation target. China’s solar sector is set to break records in the coming years . When installed capacity crosses the 500 gigawatts (GW) mark by the end of 2023, it will have taken 13 years to reach that milestone. That total, however, will be doubled to…

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G20 Leaders Endorse IRENA Recommendations for Global Renewable Energy Adoption 

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irena

Abu Dhabi, United Arab Emirates, 11 September 2023 – G20 leaders agreed to accelerate efforts to triple global renewable energy capacity by 2030, aligning with recommendations from the International Renewable Energy Agency (IRENA) on how the world can move in line with the Paris Agreement targets.  In a declaration adopted on Saturday, the Group cites a joint report between IRENA and India’s G20 Presidency, titled Low-Cost Financing for Energy Transitions, which estimates a need for over USD 4 trillion in annual investments by 2030. According to IRENA’s World Energy Transitions Outlook 2023 released earlier this…

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Sunova Solar Shines at Solar Pakistan Exhibition & Conference 2023

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Solar-Pakistan2

[Karachi, Pakistan – September 13, 2023] – Sunova Solar, a leading innovator in the renewable energy industry, recently participated in the Solar Pakistan Exhibition & Conference, held from September 7 to 9 at the Karachi Expo Centre. The event marked a significant milestone for Sunova Solar as it showcased its commitment to providing sustainable energy solutions to the Pakistani market. Sunova Solar welcomed industry peers and leaders from across Pakistan to its impressive booth in Hall B-5, booths 09/10/13/14. The event offered a unique platform for industry giants to converge,…

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Hubco’s net profit soars 110% at Rs62b

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Hubco

KARACHI: Hub Power Company (Hubco)’s net consolidated profit soared almost 110% to Rs62 billion in the year ended June 30, 2023 primarily due to increase in sales and a jump in share of profits from associates and joint ventures. The company earned Rs29.58 billion in the previous year, according to the profit or loss account sent to the Pakistan Stock Exchange (PSX) on Tuesday. Hubco’s board of directors recommended a final cash dividend of Rs6 per share. It was in addition to the interim dividends of Rs24 per share already…

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