The fossil fuel age is crumbling, according to UN Secretary-General António Guterres. Renewables maintained their cost leadership in global power markets, the International Renewable Energy Agency said in an annual report. In 2024, onshore wind farms were the cheapest of all versus the lowest-cost fossil fuel alternatives, by 53% on average, while photovoltaic systems were […]
The European Network of Transmission System Operators for Electricity suggested to the European Commission to prolong the transitional period of the Carbon Border Adjustment Mechanism (CBAM) for electricity by one year, to January 1, 2027. It recommended an additional impact assessment, an analysis of possible exemptions for third countries as well as to exempt transmission […]
Norway’s Equinor is resuming construction on its Empire Wind project off the coast of New York after the federal authorities lifted a stop-work order issued in mid-April. The project’s first phase, the 810 MW Empire Wind 1, is expected to generate electricity equivalent to the needs of 500,000 homes in the US state. The construction […]
The Ministry of Energy of Romania launched a public call for expressions of interest for a study identifying areas in the Black Sea for concession agreements for offshore wind farms. It encouraged consortia of international and domestic firms and research institutions to apply. Romania is gradually developing the legal framework for the start of the […]
Wind energy played a crucial role in turning Greece into a net electricity exporter last year, for the first time since 2000. The country used to import a significant part of its electricity in previous years. Back in 2019, net imports amounted to 10 TWh or 18% of total consumption, according to Minister of Environment […]
Investors in offshore wind farms, especially European ones, are facing increasing losses – Ørsted decided to halt its Hornsea 4 project in the United Kingdom, while the United States stopped the construction of Equinor’s Empire Wind 1 facility. After the energy crisis and the impact of Russia’s invasion of Ukraine, the resulting surge in inflation […]
Motor Oil Renewable Energy (MORE) received the operating license for its 43.2 MW wind power plant near the border with North Macedonia. The facility was in test operation since the fourth quarter of 2023. MORE has 839 MW in renewable electricity plants in operation, aiming to reach 2 GW by 2030. There is already almost […]
New wind turbine installations reached an all-time high 117 GW last year, slightly above the 2023 level, Global Wind Energy Council (GWEC) revealed in its annual report. According to its calculations, China’s share in the additions was 68.2%. At the end of December, the country hosted 45.8% of all wind power capacity, which climbed to […]