France and Spain are racing to contain major wildfires before another period of extreme heat raises the risk of renewed outbreaks, after fires forced hundreds of thousands of residents and tourists to leave threatened communities. Firefighters have made progress against several of the largest blazes, but authorities warn that persistent
The world has entered a new era of energy investment. Governments are committing hundreds of billions of dollars to modernize electricity grids, scale renewable energy, expand battery storage and strengthen critical infrastructure. Yet while the global energy transition is accelerating, hundreds of millions of people still live without something many
BILBAO, Spain — Spanish energy company Iberdrola has agreed to acquire an 80% stake in Caruna, Finland’s largest electricity distribution company, in a transaction valuing the business at approximately $5.8 billion, including debt. The acquisition marks one of the company’s largest recent investments in regulated electricity networks as utilities across
Beijing’s first binding renewable generation goal shifts the focus from building clean energy capacity to delivering more renewable electricity—and strengthening the grid’s ability to rely on it. China has announced a legally binding national target to increase electricity generation from wind and solar by 53% by 2030, marking the country’s
Matt Evans, Chairman and Co-Founder, UpEnergy As carbon markets enter a defining period of scrutiny and reform, Matt Evans, Chairman and Co-Founder of UpEnergy, is helping shape how climate finance is measured, deployed and trusted. Through a career spanning climate finance, clean energy and international development, Evans has focused on
Strategic assessment: Emergency oil stockpiles have helped several Asian economies manage disruptions associated with the Iran war. Continued risks to shipping through the Strait of Hormuz and the Red Sea are raising questions about how long those reserves may be required and how governments would respond to further interruptions. The
The Abu Dhabi project will pair 5.2GW of solar with 19GWh of battery storage in an ambitious effort to deliver 1GW of continuous renewable electricity. ABU DHABI — Masdar has reached financial close on a $6.1 billion solar and battery storage project in Abu Dhabi designed to deliver renewable electricity
BRUSSELS — The European Commission has approved a landmark €63 billion (approximately US$74 billion) French state aid program to accelerate the development of offshore wind energy, clearing the way for one of Europe’s largest renewable energy investments and reinforcing the EU’s drive toward energy security, industrial competitiveness and net-zero emissions.
New forecasts warn the climate pattern could intensify humanitarian crises already fueled by conflict, displacement and funding shortfalls. The United Nations is preparing to mobilize up to $100 million in emergency funding as forecasters warn that a new El Niño weather pattern could trigger widespread droughts, flooding and extreme heat
European Investment Bank reaffirms climate leadership after World Bank abandons financing target, exposing widening divisions across the multilateral system The world’s largest multilateral development banks are entering a defining moment over climate finance. Just days after the World Bank announced it was abandoning its long-standing target that 45 percent of
