Bloomberg: Global Spending on Renewable Energy to Hit $7 Trillion by 2030

Posted on December 2nd, 2011 by
   

Bloomberg: Global spending on renewable energy to hit $7 trillion by 2030

Bloomberg New Energy Finance’s new report, “Global Renewable Energy Market Outlook” predicts that global spending on renewable energy installations will have hit $7 trillion by 2030, according to Onyx Service & Solutions Inc.

The report names the Latin American market one of the big winners over the next 20 years, which bolsters ONYX’s decision to focus efforts in high-cost electrical markets there. The report predicts doubling from 2010’s record-breaking $195 billion, to $395 billion in 2020, before reaching $460 billion in 2030.

According to the report, 15.7% of the world’s energy (including hydropower) will come from renewable sources by 2030. The flourishing economies of Latin America, the Middle East, Africa and India are set to see growth rates of installed renewable capacity of 10-18 percent a year over the period 2010 to 2020, the report noted.

Total, Amyris agree to produce renewable fuels

Total and Amyris Inc. have signed agreements to expand their current research and development partnership and form a joint venture to develop, produce and commercialize a range of renewable fuels and products. Under the agreements, the companies will expand their ongoing R&D collaboration to accelerate the deployment of Biofene and develop renewable diesel based on this molecule produced from plant sugars.

Further, Total has committed to contribute $105 million in funding for an existing $180 million program. In addition, the companies have agreed to form a 50-50 joint venture company that will have exclusive rights to produce and market renewable diesel and jet fuel worldwide, as well as non-exclusive rights to other renewable products such as drilling fluids, solvents, polymers and specific bio  lubricants. The JV plans to begin operations in the first quarter of 2012.

Canadian Solar delivers modules for 9-MW solar project in Spain

Canadian Solar has supplied its CS6P-P solar modules solar for a 9-MW solar power plant in the town of Ablitas, Spain. The solar project, being developed by OPDE Group, is scheduled for commissioning in the fourth quarter of 2011. Construction on the solar project was started in mid-October 2011.

JCM Capital, Hay Solar to develop 30-MW of solar projects in Ontario

JCM Capital will finance 30 MW of solar projects in the province of  Ontario. Under an agreement with Hay Solar Holdings ULC, JCM Capital agreed to provide full development, construction and long-term equity financing for a 30 MW portfolio of modular 100 kW farm building solar installations located through out Ontario.

JCM focuses on financing and developing solar projects on large commercial and industrial buildings and large-scale solar farms across Ontario, utilizing the province’s Feed-in-Tariff program via solar power purchase agreements with the Ontario Power Authority.

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