The sheer volume of new power lines which will be required to accommodate the rising tide of solar installations ensures copper has been included by the International Energy Agency on its list of minerals which must keep flowing if the energy transition is to stay on course. And it’s not production that’s the potential bottleneck.
With South Africa holding 63,000 of the world’s estimated 69,000 metric tons of platinum reserves – according to the Statista.com website – and Russia and Zimbabwe a further 5,100 between them, the European Commission has cited the metal as an example of a potential supply chain bottleneck that could handicap its grand plans for renewables-powered hydrogen production.
Xinyi Solar has posted bullish annual figures on the back of an astonishing rebound in the global market following Covid travails at the start of 2020. There is one national market, however, which has not been invited to the party.
The development lender’s private-sector arm helped Indian commercial clean power company Continuum Green Energy raise $561 million to refinance its debts through the bond, on the Singapore exchange.
IHS Markit is predicting the world will add 30% more solar capacity this year.
The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
A report by McKinsey & Company reinforces the widely-held view renewables will supplant fossil fuels in the energy system but also joins the chorus of voices warning the world is on track to fall well short of limiting global temperature rises this century to 1.5C.
With the International Energy Agency publishing its latest five-year clean energy forecast today, pv magazine takes a look at the solar content of the 162-page document.
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