{"id":85714,"date":"2024-07-30T00:00:00","date_gmt":"2024-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/30\/300-new-renewables-projects-for-spain-cosco-partners-with-fortescue-on-green-shipping\/"},"modified":"2024-07-30T00:00:00","modified_gmt":"2024-07-30T00:00:00","slug":"300-new-renewables-projects-for-spain-cosco-partners-with-fortescue-on-green-shipping","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/30\/300-new-renewables-projects-for-spain-cosco-partners-with-fortescue-on-green-shipping\/","title":{"rendered":"300 new renewables projects for Spain + Cosco partners with Fortescue on green shipping"},"content":{"rendered":"

Spain approves renewable energy projects worth EUR 17 bn: <\/strong>The Spanish government has approved nearly 300 renewable energy projects totaling over 28 GW, with an investment ticket exceeding EUR 17 bn, Reuters<\/a> reports. The projects \u2014 which include primarily photovoltaic plants along with wind farms and a hydropower plant \u2014 come under the country\u2019s efforts to raise its share of renewables in power generation to 81% by 2030 from a current 50%.<\/p>\n

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A <\/strong>green<\/strong> fuel supply chain, courtesy of Cosco Shipping and Fortescue: <\/strong>China's Cosco Shipping Corporation<\/a> and Australian green energy firm Fortescue<\/a> have signed an MoU to jointly build a green fuel supply chain to help reduce pollution in the shipping industry, Reuters<\/a> reports, citing a statement by the Chinese firm. The agreement explores the construction and deployment of green ammonia-fuelled vessels, either owned by Cosco or jointly owned by both firms, to transport iron ore and other minerals with a focus on the China-Australia iron ore green shipping corridor. <\/p>\n

Fortescue has bigger plans: <\/strong>Fortescue has been exploring similar partnerships with executives in China, and the company conducted the first ever trial using <\/span>ammonia as shipping fuel<\/a> in Singapore earlier this year.<\/span><\/p>\n

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Ghana is getting a helping hand from <\/strong>the IFC: <\/strong>The World Bank\u2019s private investment arm International Finance Corporation (IFC) extended a USD 130 mn loan to Ghanian conglomerate LMI Holdings for a planned USD 1 bn solar energy project, LMI Group CEO Kojo Aduhene told Bloomberg<\/a>. The IFC has provided part of the funds needed to build 1 GW of solar installations worth USD 1 bn in the next six years, Aduhene said. The aim is to increase Ghana\u2019s solar generation sevenfold by 2030 from an installed capacity of 5.6 GW by the end of 2023 with the project already set for 16.8 MW of solar power in the first phase. The second phase of the project will see 150 MW while 833.2 MW is set to be generated in the final phase, according to Aduhene.<\/p>\n

What they said: <\/strong>\u201cThis is just the first phase and the biggest single-roof solar project in Africa, and a significant milestone in our journey toward energy independence and environmental stewardship,\u201d he said. \u201cWith the funding from the IFC, our own funds and other private investors we are raising more than USD 1 bn\u201d for the project, he added. <\/p>\n

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French utility Suez extends GBP 1 bn waste-recycling contract in the UK: <\/strong>French-based utility company Suez has extended its waste-recycling contract with the Greater Manchester Combined Authority (GMCA) in an agreement worth over GBP 1 bn until 2034, according to a statement<\/a>. Under the extended agreement, Suez will upgrade an existing energy-waste-recycling facility with more households covered under the plan. Suez manages 1.03 mn tons of waste annually from over one mn households across nine boroughs, according to the statement.<\/p>\n

All under a plan for global expansion:<\/strong> With France generating about 60% of its sales, Suez plans to increase its UK revenue by 50% by 2030 and expand into markets in Southeast Asia, Australia, the Middle East, and Central Europe, Suez CEO Sabrina Soussan told Bloomberg<\/a>.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n