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IEA: Renewable generation capacity expected to climb by 1,200GW in next five years

first_imgIEA: Renewable generation capacity expected to climb by 1,200GW in next five years FacebookTwitterLinkedInEmailPrint分享The Guardian:Global supplies of renewable electricity are growing faster than expected and could expand by 50% in the next five years, powered by a resurgence in solar energy.The International Energy Agency (IEA) found that solar, wind and hydropower projects are rolling out at their fastest rate in four years. Its latest report predicts that by 2024 a new dawn for cheap solar power could see the world’s solar capacity grow by 600GW, almost double the installed total electricity capacity of Japan. Overall, renewable electricity is expected to grow by 1,200GW in the next five years, the equivalent of the total electricity capacity of the US.“This is a pivotal time for renewable energy,” said the IEA’s executive director, Fatih Birol. “Technologies such as solar photovoltaics (PV) and wind are at the heart of transformations taking place across the global energy system. Their increasing deployment is crucial for efforts to tackle greenhouse gas emissions, reduce air pollution, and expand energy access.”The Guardian reported earlier this month that a renewable energy revolution could end the world’s rising demand for oil and coal in the 2020s, decades ahead of forecasts from oil and mining companies.Renewable energy sources make up 26% of the world’s electricity today, but according to the IEA its share is expected to reach 30% by 2024. The resurgence follows a global slowdown last year, due to falling technology costs and rising environmental concerns. However, Birol warned that the role of renewables in the global energy system would need to grow even faster if the world hopes to meet its climate targets.The IEA expects solar energy to play the biggest role in jumpstarting fresh growth in global renewable energy because falling costs are already below retail electricity prices in most countries. The cost of solar power is expected to decline by a further 15% to 35% by 2024, spurring further growth over the second half of the decade.More: Renewable energy to expand by 50% in next five years – reportlast_img read more

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Sea-Mol to Build a Tank Storage Terminal in Antwerp Port

first_imgThe Japanese group MOL Chemical Tankers, a member of Mitsui OSK Lines, is partnering with the SEA-Invest port group to build a tank storage terminal in the port of Antwerp.The joint venture Sea-Mol is being set up for the purpose of constructing a tank terminal for liquid chemicals in the Delwaide dock with an investment budget of EUR 300 to 400 million (USD 351.4 to 468.6 million).The tank terminal will be located on a 45 hectare site in the Delwaide dock. This is only part of the concession area for which the port authority issued a request for proposals in 2018.A shortlist of six candidates was selected, one of them being Sea-Mol. Discussions with the latter were started with a view of making a concession agreement, while talks with the five others are ongoing aimed at making the best possible use of the remaining area.“Our port continues to be very attractive for potential investors. There are various other large investment projects in the pipeline for which we hope to receive confirmation in the very near future,” Jacques Vandermeiren, Port Authority CEO, said.last_img read more

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Sports sponsorship predicted to fall by $17b in 2020

first_imgGlobal sports sponsorship rights fees are set to fall by more than $17 billion (£14 billion/€15.5 billion), or 37 percent year-on-year, according to a new projection. Two Circles, a specialist in data-driven sports marketing, forecasts that rights fees will tumble from $46.1 billion (£37.3 billion/€42 billion) last year to $28.9 billion (£23.4 billion/€26.3 billion) in 2020. The projections include a 45 percent decrease in spending by financial services companies, which are expected to contribute $6.9 billion (£5.6 billion/€6.3 billion) by year-end. According to Two Circles, financial services was the biggest investor in sports sponsorship in 2019 with $12.6 billion (£10.2 billion/€11.5 billion), equivalent to more than a quarter of the total. A 55 per cent year-on-year decline, from $5.9 billion (£4.8 billion/€5.4 billion) to $2.7 billion (£2.2 billion/€2.5 billion) is expected in the automotive sector. “Sponsors will also be given ‘makegood’ sponsorship collateral and cash rebates due to the postponement and cancellation of live sport, significantly reducing their financial outlay in 2020.” The report comes just days after the International Olympic Committee (IOC) acknowledged that some of its sponsors might pay agreed sums later than originally anticipated, as a consequence of the postponement of the Tokyo 2020 Olympic Games forced by the deadly virus. Under questioning by insidethegames, Lana Haddad, the IOC’s chief operating officer, said there might be some “rescheduling” of payments, while indicating that this would not be a major issue for the IOC and emphasising that sponsors remained fully committed. Promoted ContentCouples Who Celebrated Their Union In A Unique, Unforgettable WayWhat Is A Black Hole And Is It Dangerous For Us All?8 Superfoods For Growing Hair Back And Stimulating Its Growth7 Ways To Understand Your Girlfriend Better10 Celebrity Dads Who Don’t Get Along With Their KidsBirds Enjoy Living In A Gallery Space Created For Them10 Inventions That Make Our Lives Much EasierWorld’s Most Delicious FoodsThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreWhich Country Is The Most Romantic In The World?7 Most Asntonishing Train Stations In The World10 Phones That Can Work For Weeks Without Recharging Loading… A total of 14 multinational corporations have signed up for the latest edition of the IOC’s flagship The Olympic Partner (TOP) worldwide sponsorship programme, covering the Pyeongchang 2018-Tokyo 2020 Olympic cycle. It is thought that this might generate more than $2 billion (£1.64 billion/€1.85 billion) all told for the IOC over the period. While only a proportion of TOP-related income for the IOC is paid in cash, it has been a particularly buoyant revenue stream just lately. But a number of TOP sponsors are enduring hard times as a result of the economic shock triggered by Government-enforced lockdowns intended to slow the spread of coronavirus. Airbnb, the short-term room rental service, is cutting 25 per cent of its workforce, while Japanese carmaker Toyota last week forecast a collapse in operating income for its current financial year running to March 2021. By contrast, Procter & Gamble, the giant United States-based household products company that is another TOP sponsor, disclosed last month it was experiencing a jump in sales of cleaning products. Gareth Balch, Two Circles chief executive, said that with “live sport halted globally since March, the value that sports properties have been able to deliver brand partners has been limited, with cost-cutting in sectors that invest heavily in sponsorship also presenting a significant challenge in signing new deals”. read also:Sports Minister to launch E Gaming Sports He added: “Though every corner of sport is hurting, we remain certain that sport’s economy will thrive in the long term, and when the impending recession bottoms out, all sectors will rely on the best marketing platforms available to grow their businesses.” FacebookTwitterWhatsAppEmail分享 last_img read more