Shell has exited China’s power markets as part of CEO Wael Sawan’s drive to focus on more profitable operations, the energy giant said. Shell decided to exit the power value chain in China, which includes power generation, trading and marketing businesses, it said in a statement. The decision was effective from the end of 2023.
China’s legislature is considering a draft energy law to ensure supply security and to support the development of renewables, the state media said. The draft law, which would reform the energy development system and pricing mechanisms, was submitted to the standing committee of the National People’s Congress for deliberations. Among its provisions are rules on
Accacia, a decarbonisation platform focusing on the real estate and infrastructure sectors, has closed a US$6.5m pre-Series A round led by Illuminate Financial – a specialist VC firm focused on enterprise fintech companies building solutions for the financial services industry with offices in New York, London and Singapore. Southeast Asia based AC Ventures also participated
Clean energy transition company Catalyze has announced the operation of a solar and storage project installed at 66 Galen in Watertown, Massachusetts. The purpose-built life science building is owned in a joint venture with real estate companies Davis and Boston Development Group (BDP). Sustainable Buildings Catalyze finances, builds, owns, and operates solar, battery storage, and
Neste and Air New Zealand have signed an agreement for the supply of nine million litres (around 7,200 tons or 2.4 million gallons) of neat Neste MY Sustainable Aviation Fuel™. The agreement represents the largest purchase of sustainable aviation fuel from Neste made by any airline outside North America and Europe for delivery before the
Peter Lee, the Hong Kong-based tycoon, wants to use battery technology used in space back on Earth. To facilitate this, the business tycoon’s family office founded a new start-up, EnerVenue, and has plans to scale up the technology at its factories in China and the US. Countries have been ramping up investments in renewable energy
ADIPEC, one of the world’s largest energy events, is taking place from November 4-7 2024 at Abu Dhabi National Exhibition Centre. The world’s largest and most inclusive gathering for the energy industry, ADIPEC will bring together over 2,200 companies from across the world, representing the entire energy ecosystem and beyond and showcasing the latest strategies
In India, the energy sector is undergoing a rapid transformation, driven by the increasing adoption of renewable energy sources and the emergence of innovative technologies. The solar power sector, in particular, has emerged as a key player in the quest for sustainable growth and energy security. With government initiatives and policies aimed at promoting solar
WASE, a UK-based start-up which is unlocking the power of waste to make it the fuel for the future, announced it raised over €9.9 million, including €2.8 million in non-dilutive funding. The financing round was led by Extantia Capital, with participation from Hitachi Ventures, WEPA Ventures, the family venture capital firm of the European multigenerational
Green hydrogen is too expensive to replace fossil fuels, the chief executives of oil supermajors ExxonMobil and Saudi Aramco told a conference in Houston, Texas. Exxon CEO Darren Woods went so far as to suggest that the US would not meet its net-zero emissions target for 2050, partly due to the high cost of renewable
