Turkey Launches the Largest Platform for Industrial Decarbonization Investments

26.11.2024

emisije , zagađenje — Photo-illustration: Freepik (frimufilms)

To move closer to achieving carbon neutrality, Turkey has launched the Industrial Decarbonization Investment Platform (TIDIP) in Ankara. The platform aims to attract investments worth 5 billion dollars by 2030, resulting in a reduction of over 20 million tons of carbon dioxide emissions annually. Reportedly, this is the largest industrial decarbonization program in the world to date, based on the so-called LCP—low-carbon pathways concept, which outlines steps to reduce emissions in specific sectors while maintaining productivity and economic growth.

This initiative is supported by the European Bank for Reconstruction and Development (EBRD), which has recognized the need for significant mobilization of climate financing. In this regard, the EBRD is collaborating with the World Bank Group and the International Finance Corporation. The EBRD and the Turkish Ministry of Industry and Technology have developed Turkey’s LCP, targeting the decarbonization of the steel, aluminum, cement, and fertilizer sectors.

As related LCPs evolve, TIDIP will expand to include sectors such as glass, ceramics, and chemicals.

Given that nearly half of Turkey’s exports are directed to the European Union, decarbonizing industries with high carbon emissions has become essential. This is particularly significant in light of the implementation of the Carbon Border Adjustment Mechanism (CBAM). Through such decarbonization efforts, Turkish companies have the opportunity to enhance their competitiveness and attract investments.

The platform can also provide market visibility for key technological solutions, offer guidance on regulatory frameworks, and help companies integrate climate and sustainability practices into their decision-making processes, according to the EBRD’s website.

Energy portal

Liquid Biomass Instead of Fossil Fuels – A New Energy Landscape for Corsica

25.11.2024

korzika, more, plaža — Photo-illustration: Unsplash (mario-von-rotz)

Photo-illustration: Unsplash (jens-schwan)

On Corsica, an island with over 350,000 inhabitants, an ambitious energy project promises to redefine the island’s energy dynamics and significantly reduce CO2 emissions. The French state-owned company EDF is launching the Ricanto bioenergy plant, a cutting-edge facility that will convert liquid biomass into electricity, setting a new standard for sustainable energy in off-grid regions.

As an island not connected to the continental power grid, Corsica faces limited options for energy exchange with the mainland and the rest of Europe. The challenge lies in locally producing sufficient energy to meet the island’s needs, especially during the tourist season when this popular destination sees a surge in demand. Currently, Corsica relies heavily on fossil fuels for electricity generation, leading to high carbon dioxide emissions.

Technology and Innovations in the Project

The Ricanto bioenergy plant will be powered by eight state-of-the-art engines with a total capacity of 130 megawatts – enough to replace the outdated Vazzio oil-fired power plant, marking a transition from fossil fuels to renewable energy sources. The chosen fuel, liquid biomass, is derived from rapeseed or sunflower oil – resources that are sustainable and locally sourced.

The construction of the Ricanto bioenergy plant represents an investment of approximately €800 million. EDF estimates that between 250 and 500 jobs will be created during the three-year construction phase.

Additionally, carbon dioxide emissions are expected to decrease by 65 percent compared to current levels from the oil-fired plant being replaced. The Ricanto plant will generate around 20 percent of Corsica’s annual electricity needs, significantly contributing to energy independence, according to EDF’s website.

The Ricanto bioenergy plant is scheduled to begin phased operations by mid-2027.

Energy portal

Final Agreements at COP29 – New Declarations on Methane, Water, and Climate Financing

25.11.2024

eko — Photo-illustration: Freepik (freepik - AI)

The United Nations Climate Change Conference concluded in Baku, with significant agreements reached in its final days regarding climate change, water resources, emissions, and financing.

The COP29 Presidency launched the Declaration on Reducing Methane Emissions from Organic Waste, supported by over 30 countries. The signatories collectively account for 47 percent of global methane emissions from organic waste, including Japan, Russia, Germany, the USA, Turkey, Canada, Belgium, Austria, Israel, and Serbia. By signing the declaration, countries committed to setting sectoral targets to reduce these emissions in their future nationally determined contributions (NDCs). Since organic waste is the third-largest source of anthropogenic methane emissions, after agriculture and fossil fuels, this decision is pivotal for achieving the goals of the Global Methane Pledge introduced at COP26, aiming for a reduction of at least 30 percent below 2020 levels by 2030.

On the same day, in partnership with the United Nations Food and Agriculture Organization (FAO), the Presidency launched the Harmoniya Climate Initiative for farmers in Baku. This initiative recognizes the significant role farmers play in climate action. It plans to develop an online portal and guidelines for farmers and agricultural organizations to make support more accessible. Azerbaijan’s Ministry of Agriculture, in collaboration with the Climate and Clean Air Coalition under UNEP, announced a new partnership to develop a roadmap for reducing methane emissions in the country’s agricultural sector.

During the thematic day on urbanization, transport, and tourism, two initiatives were introduced. The COP29 MAP Declaration on Multisectoral Actions for Resilient and Healthy Cities aims to enhance urban infrastructure, integrate climate action into city planning, and strengthen collaboration from local to global levels. It emphasizes sustainable urban transport, green building, and nature-based solutions. The second initiative, the COP29 Declaration on Enhanced Climate Action in Tourism, seeks to encourage creative thinking about transforming tourism into a climate-resilient, low-carbon sector.

On the penultimate day of the conference, the Presidency introduced the COP29 Water for Climate Action Declaration, supported by nearly 50 countries. This declaration commits signatories to adopt integrated approaches to tackle the causes of water-related climate issues and to collaborate on generating scientific evidence about the causes and consequences of climate change on water resources and basins. This paves the way for stronger international and regional cooperation. On the same day, the Baku Water for Climate Action Dialogue was held, with high-level representatives from the EU, Finland, Gambia, Germany, Moldova, the Netherlands, Slovenia, the UAE, the UK, and the USA participating. This platform aims to strengthen collaboration among COP conferences on water-related issues and their impacts on climate change, biodiversity, pollution, and desertification, ensuring that water remains on the climate agenda.

At COP29, significant progress was made, particularly with the conclusion of decades-long negotiations on carbon markets under Article 6 of the Paris Agreement. This article enables countries to collaborate in reducing emissions through emissions credit markets. It is estimated that this approach could lower the annual costs of implementing national climate plans (NDCs) by up to 250 billion dollars.

Another crucial milestone was the establishment of the Baku Financing Goal (BFG), targeting 1.3 trillion dollars in climate financing for developing countries by 2035. The goal includes a commitment from developed countries to mobilize at least 300 billion dollars annually, particularly for the least developed countries and small island states. However, the recipient nations have expressed concerns that this amount is insufficient to achieve the desired results in climate action.

Katarina Vuinac

Artificial Leather Made From Beer Is Changing The Fashion World

24.11.2024

I n a world where fashion changes faster than ever, the pressure on natural resources and the environment is increasing. The fashion industry, known for its dynamism and innovation, is among the largest polluters globally. For this reason, sustainable fashion is becoming not just a trend but a necessity, and one significant achievement in this field comes from the laboratory of the innovative company Sabant.

Its founders, Tamara Vučetić and Andrej Marić from Zagreb, came up with the idea to create a high-quality material called Beer Skin™ from the leftover barley malt waste produced by the beer industry.

Tamara Vučetić, who completed her master’s studies in fashion entrepreneurship in Amsterdam, reveals that Beer Skin is a versatile material with characteristics that vary depending on what you want to make from it.

“If it’s a material intended for clothing, we’re talking about a stretchy, thin, lightweight material. However, if someone wants to make a bag or a wallet, we’re talking about thicker and more rigid materials. What can be made from Beer Skin is limited only by the creativity of the person using it,” she explains.

She also reflected on the beginnings of this unusual business venture, emphasizing that when she was running her fashion brand, she wanted to use plant-based materials.

IN FOCUS:

Still, they didn’t meet the necessary quality standards or were not widely available at the time.

“This frustration led to the idea of creating my own plant-based material. The idea of using beer, specifically spent grain, came partly by accident, as my business partner Andrej and I lived across from the Zagreb Brewery. Not to mention, the company itself started, of course, with beer,” Vučetić jokes, adding that they couldn’t resist the opportunity to say, “My shoes are made from beer!”

Regarding the material production process, Tamara explains that it all begins by collecting spent barley malt from the breweries with which Sabant collaborates.

This valuable resource, primarily discarded as waste, is collected before fermentation begins, then dried and ground. Grinding is crucial because it achieves the specific granulation needed to integrate the plant matter into the formulas used to create Beer Skin. Beer Skin is produced in collaboration with Sabant’s Italian partners, following a formulation developed by young entrepreneurs with the help of experts from the Faculty of Science in Zagreb. This method enriches the market with an eco-friendly and sustainable alternative to artificial leather, often produced using toxic materials and plastics.

“Our goal has always been for plant-based leather to replace the standard available artificial materials, like those marketed as vegan leather, and to reduce the amount of plastic used in the production of these materials. By transitioning from standard vegan leather to plant-based leather, we could reduce the amount of plastic produced by several million tons annually,” highlights Andrej Marić.

Prepared by Milena Maglovski

Read the whole story in the new issue of the Energy portal Magazine ENERGY TRANSITION

Brazil’s Achievements in Renewable Energy Surpass Global Average

24.11.2024

closeup-shot-black-pin-brazil-country-map — Photo: Freepik (wirestock)

In recent years, China has emerged as a major player in the development of Brazil’s energy infrastructure through significant investments. Recently, the presidents of the two countries signed 40 international agreements across various sectors. On this occasion, it was emphasized that China has been Brazil’s largest trading partner since 2009, with their bilateral trade reaching record levels last year, as stated on the Brazilian government’s website. This further solidified the strategic partnership between the two nations.

Chinese Projects Across Brazil

Photo-illustration: Unsplash (Mark Merner)

Brazil stands out for its renewable energy capacity, far exceeding the global average. While hydropower remains dominant, other alternative sources have also advanced significantly. In recent months, more than 80 percent of the total energy produced in Brazil came from renewable sources. In 2023, Brazil ranked sixth globally in installed solar energy capacity. By October 2024, solar capacities reached approximately 48 GW, according to Ember data.

One of the key projects illustrating the collaboration between China and Brazil is the Panati solar park. This massive project spans 840 hectares and includes 446,000 solar panels. Since its launch in June 2024, the park has significantly contributed to the stability of electricity supply and is expected to provide enough energy to power over 350,000 households annually. Additionally, during its construction, it created hundreds of jobs and continues to employ local residents.

The direct connection with China is through CTG Brazil, a subsidiary of the China Three Gorges Corporation established in Brazil in 2013. This fully Chinese-owned company plays a significant role in Brazil’s energy sector. With investments in 17 hydropower plants and 11 wind farms, CTG Brazil manages a portfolio with a total installed capacity exceeding 8 GW, positioning itself as the second-largest private energy producer in the country.

One notable project is the São Manoel hydropower plant, with a capacity of 700 MW, a joint venture between Brazilian and Chinese companies, including CTG Brazil.

Investments in Mining and Transmission Infrastructure

Chinese investments extend into the mining sector, where a Chinese investment consortium has acquired a 15 percent stake in CBMM, a Brazilian company leading in the production of niobium, a key material for steel and electronics manufacturing.

China is also heavily investing in electricity transmission projects in Brazil. The Belo Monte Transmission Line project, completed in two phases in 2017 and 2019, is part of a broader plan to enhance Brazil’s power transmission infrastructure. This project connects the northern region, rich in energy resources, to the industrialized southeastern region.

Notably, investments are also present outside the energy and mining sectors, with Chinese companies actively expanding their operations in Brazil by developing industrial capacities, particularly in electromobility. A prime example is BYD’s investment in a battery manufacturing facility in Manaus, which produces enough batteries annually to power 1,000 electric buses.

Energy portal

Global Peatland Atlas 2024 – Endangered Natural Carbon Vaults

23.11.2024

Crna_Gora_posmatranje_ptica — Foto: MORT/Montenegro Adventures 2006 - CSTI

The United Nations Environment Programme (UNEP) has released the Global Peatland Hotspot Atlas 2024, highlighting the critical threats to these ecosystems across 177 UN member states.

Peatlands are vital carbon storage systems and biodiversity-rich habitats, but their degradation is driven by intensive agriculture, urbanization, deforestation, and industrialization, UNEP reported.

The new Global Atlas, unveiled during the COP29 conference, provides updated maps of global peatland distribution, emphasizing the threats they face and opportunities for their restoration and conservation.

Susan Gardner, Director of UNEP’s Ecosystems Division, stressed that peatlands, as natural carbon vaults, play a pivotal role in achieving climate goals.

“Peatlands exist in almost every country and, in addition to storing vast amounts of carbon, provide essential services that millions of people rely on daily. Protecting them is a fundamental investment in human well-being,” Gardner said.

Although peatlands cover only three to four percent of the Earth’s terrestrial surface, they store about one-third of the world’s soil carbon—twice as much as all the world’s forests combined. These natural assets not only provide habitats for over 1,000 endangered plant and animal species but also significantly contribute to local ecological stability.

Furthermore, peatlands act as natural filters, purifying water and reducing the risks of droughts, floods, and wildfires when preserved. However, degraded peatlands become sources of greenhouse gases, contributing up to four percent of global human-induced emissions.

Foto-ilustracija: Unsplash (Tyler Butler)

The primary drivers of peatland degradation include draining for agriculture and the accelerated thawing of permafrost due to climate change. UNEP emphasizes that protecting peatlands is not only an ecological imperative but also a critical step toward a more sustainable future.

According to UNEP, approximately 500,000 hectares of pristine peatlands are destroyed annually due to human activities, predominantly in hotspots such as East and Southeast Asia. Peatlands in remote regions, typically found in subarctic, boreal, and tropical zones, remain largely untouched.

This report builds on the Global Peatland Assessment 2022 and continues to urge policymakers to prioritize the protection of these ecosystems as a cost-effective climate solution that offers multiple benefits for people, nature, and the climate.

Milena Maglovski

The Future od Green Energy in Romania

23.11.2024

Romania is among the countries with a diverse and balanced energy mix, with a strong reliance on hydropower, efficient nuclear reactors, and wind farms, while coal and natural gas are also present in the energy composition. As a member of the European Union, Romania prioritizes climate neutrality, energy stability, and environmental preservation. Environmental protection, one of the main concerns of the EU, is often inseparable from energy issues. Romania can also take pride in this area, as it is interwoven with vast protected areas and the longest sections of the Carpathian Mountains, making the preservation of its natural resources a significant task.

As much as 30,000 hectares are under UNESCO protection, while the country boasts over 70,000 hectares of old-growth forests. The Danube is an indispensable element in the story of the country’s natural wealth and developed energy sector, as it powers local hydroelectric plants, with more than one-third of the river situated within Romanian territory, stretching over 1,000 kilometers. Regarding nuclear energy, our interlocutor, Sebastian Burduja, Romania’s Minister of Energy, shared more about Romania’s energy plans, including nuclear energy. This is of particular interest as Serbia is gradually turning its attention to nuclear, and examining how everything is progressing, especially in neighboring countries.

IN FOCUS:

Q: Can you present Romania’s energy mix? How significant are coal and gas in Romania’s energy sector, and are there plans to reduce their usage?

A: Romania’s current energy mix relies on a diverse range of resources, with a focus on renewable energy sources, natural gas in combination with hydrogen, and nuclear energy. Romania is on the path to decarbonizing its economy, aiming to achieve key energy and climate goals by 2030, as outlined in the National Energy and Climate Plan (NECP) and the National Recovery and Resilience Plan (NRRP). Therefore, we are working intensively on the electrification process, dismantling outdated coal-fired power plants, increasing the share of energy from renewable sources, and improving energy efficiency. To support these plans, Romania has taken several concrete steps. First and foremost, the gradual phase-out of coal by 2032 plays a crucial role in achieving climate goals, accompanied by the parallel development of low-carbon energy production capacities and, of course, the necessary supporting infrastructure. The National Recovery and Resilience Plan foresees investments in new production capacities amounting to 950 MW of electricity from renewable sources, primarily solar and wind energy, with an available budget of 460 million euros. In addition, through the Modernization Fund, the construction of an additional 10 GW of wind and solar energy is planned by the end of 2030. To facilitate private investments in renewable energy sources, our Ministry of Energy has introduced Contracts for Difference (CfD), which will ensure long-term predictable revenues for new energy producers, while simultaneously contributing to reducing market prices by increasing the amount of energy in circulation. We can say that CfDs are a tool used in this case to encourage investments in renewable energy sources. They allow renewable energy producers to receive a fixed price for the electricity they generate, independent of current market price fluctuations. In this way, the producer has revenue stability, which makes it easier for them to plan ahead and invest in new projects.

Q: What major renewable energy projects are planned for the upcoming period?

A: Romania aims to increase the share of renewable energy in its energy mix, with the goal of having at least 38.3 percent of total energy consumption come from renewable sources by 2030. One of Romania’s most ambitious plans is to become, by the end of this decade, the first country on the Black Sea with offshore wind energy production facilities. This is a significant project that can harness the sea’s potential which has not been utilized so far. The country’s energy priorities are focused on new investments that will increase the contribution of renewable energy sources to the energy mix, including harnessing the renewable energy potential of the Black Sea, large-scale electricity storage, and the use of hydrogen.

Photo-illustration: Pixabay (distelAPPArath)

Q: When did Romania start using nuclear energy, and can you provide an overview of its current state?

A: Last year, at COP28, more than 20 countries across four continents signed a joint declaration aimed at tripling global nuclear energy production by 2050. In the European Union, nuclear energy currently covers approximately one-quarter of total electricity production, with around 100 operational reactors. Additionally, more than 35 new reactors are either planned or already under construction. The Net Zero Industrial Act in the European Union also recognizes the importance of nuclear energy in reducing emissions and, therefore, facilitates the implementation of nuclear projects through financial mechanisms that reduce risk and enable stable revenues, such as Contracts for Difference (CfD) or Power Purchase Agreements (PPA). Nuclear energy and renewable energy sources are positioned quite evenly when discussing climate goals for 2040. As for Romania, it represents a unique example in Europe, as in the 1970s it decided to develop a nuclear program based on Western technology, making it the only country from the former Soviet bloc to choose CANDU technology (Canadian Deuterium Uranium). The Cernavoda Nuclear Power Plant, with its two units, provides continuous and clean energy to Romania, meeting about 20 percent of its energy needs. These are among the most efficient reactors in the world, which is why Romania continues to develop its nuclear capacity through the planned construction of the third and fourth units at the Cernavoda site, with their commissioning expected by 2031. Furthermore, Romania is committed to nuclear innovation through the development of small modular reactors (SMR), particularly in regions facing the gradual phase-out of coal. SMR technology offers numerous advantages, including lower costs, shorter construction timelines, and, ultimately, greater efficiency. Nuclear waste management remains a key issue in the nuclear program. Romania, like other countries with developed nuclear infrastructure, directs significant funds and expertise towards the safe disposal of nuclear waste, which is why international cooperation in this field is essential for the sustainability of nuclear energy in the future.

Interview by Milica Vučković

Read the whole interview in the new issue of the Energy portal Magazine ENERGY TRANSITION

Supporting Bulgaria’s Renewable Energy Transition

22.11.2024

solar , panel , novo — Photo-illustration: Pixabay (atimedia)

The European Bank for Reconstruction and Development (EBRD) is lending up to 50 million euros to Tenevo Solar Technologies EAD to build and operate a fully merchant solar photo-voltaic plant in southeastern Bulgaria. The Tenevo plant is expected to generate more than 300 GWh of electricity a year and save 250,000 tonnes of carbon emissions annually. A parallel financing facility of 53 million euros will be provided by Raiffeisen Bank International, making the total finance package 103 million euros.

The project will be supported by first loss risk cover deployed under the EBRD’s InvestEU Framework for Sustainable Transition, which aims to foster sustainable investment and convergence to EU norms, and will contribute to the Bulgarian green energy transition. This is the first use of the InvestEU guarantee by the EBRD in Bulgaria.

The Tenevo plant will add 238 MW of solar generation capacity to the Bulgarian national energy system, with a long-term plan to add on a 250MW capacity of behind-the-meter energy storage. This is an important project to advance towards Bulgaria’s ambitious net-zero greenhouse gas emissions target by 2050 and reduce reliance on coal generation, which still dominates in the power system.

The project will be the first renewable energy plant over 100 MW that will sell all its output in the market without a support scheme or a corporate power purchase agreement in Bulgaria. The project is designated as Gender SMART as the Sponsors and the Company committed to sign the UN Women’s Empowerment Principles to promote gender equality across the male-dominated energy sector in Bulgaria.

It will also strengthen the private sector presence in the renewable energy sector in Bulgaria. Tenevo Solar Technologies EAD is a joint stock company incorporated in Bulgaria to construct and operate this plant. It is equally owned by two partners. One is Renalfa IPP, an Austrian joint venture between Renalfa Solarpro Group, a Vienna-based clean energy and e-mobility company, and RGreen Invest, a French renewables infrastructure fund. The second is Eurowind Energy, a Danish renewable energy developer and independent power producer.

“We are delighted to finance this sizeable merchant solar project, which highlights the Bank’s continued support for Bulgaria’s green transition, in today’s context of concerns over regional energy security in light of Russia’s war on Ukraine as well as to support Bulgaria’s ambitious renewables and decarbonisation targets,” said Grzegorz Zielinski, Head of Energy Europe in the EBRD’s Sustainable Infrastructure Group.

“We are excited to partner with the EBRD and Raiffeisen Bank International on this ground-breaking project, which reflects our shared vision for a more sustainable future in Bulgaria. This collaboration represents a key landmark for the renewable energy investment community in the region, and we look forward to working together to bring our plans to reality,” said Kalina Pelovska, executive director for Tenevo Solar Technologies EAD.

Renewable energy is expected to play a critical role in the decarbonisation of the economy of Bulgaria. The country is aiming for renewables to make up 34.7 per cent of its electricity consumption by 2030, more than double its 2020 target of 16 per cent. This rising ambition is driving renewed interest in the sector, seeing about 1.3 GW of additional solar PV capacity being built over the past two years. In addition, this month Bulgaria’s decarbonisation efforts have taken an important leap forward with the conclusion of the country’s first renewable energy with co-located battery energy storage systems tender, which awarded grants to over 3 GW of new solar PV projects. This is part of Bulgaria’s Recovery and Resilience Plan targets, which is also supported by EBRD, and aim for commissioning of at least another 3.5 GW of renewable capacity by 2026.

The EBRD is a leading Implementing Partner for the EU’s InvestEU Programme, which supports sustainable investment, innovation and job creation in the European Union. It aims to trigger more than 372 billion euros in additional investment between 2021 and 2027. Between 2022 and 2027 InvestEU guarantees worth 635 million euros will be leveraged by the EBRD to finance investments of up to 2.7 billion euros in eligible sectors. Through the programme the EBRD supports EU members states where the Bank invests, namely Bulgaria, Croatia, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia.

The EBRD, a leader in climate finance, is a major institutional investor in Bulgaria. To date it has financed 297 projects in the country for over 4.5 billion euros.

Source: EBRD

EU: Decline in Sales of Electric and Diesel Vehicles in 2024

22.11.2024

punjač , električni automobil — Photo-illustration: Unsplash (Andrew Roberts)

The European Union’s automotive market saw a modest but encouraging growth of 1.1 percent in new car sales in October 2024, according to data from the European Automobile Manufacturers’ Association (ACEA).

As reported by the Serbian Association of Vehicle and Parts Importers, Spain led the way with a strong 7.2 percent increase, while Germany, the EU’s largest car market, also recorded significant growth of 6.0 percent after three consecutive months of declining sales. However, France experienced a sharp drop in sales by 11.1 percent, while Italy saw a 9.1 percent decline.

In October 2024, a total of 866,397 new passenger vehicles were sold, compared to 856,762 in October 2023. Over the first ten months of 2024, sales of 8.9 million vehicles were reported, showing stable performance compared to the same period last year.

Vehicle Sales by Powertrain Type

Fully Electric Vehicles – The market share of fully electric cars in October remained unchanged at 14.4 percent. However, sales volume dropped by 4.9 percent compared to the same month last year. The market share for January–October 2024 also decreased to 13.2 percent, down from 14 percent in 2023.

Electric vehicle registrations in the EU increased by 2.4 percent in October 2024, with 124,907 units sold compared to 121,989 in October 2023. The decline in market share over the ten-month period was largely attributed to a sharp 26.6 percent sales drop in Germany, the EU’s largest car market, which surprised even the most pessimistic forecasts.

From January to October 2024, 1,172,737 electric vehicles were sold, compared to 1,232,937 during the same period in 2023.

Photo-illustration: Unsplash (markus-spiske)

Plug-In Hybrid Vehicles – Plug-in hybrid sales dropped by 7.2 percent in October, with their market share declining to 7.7 percent from 8.4 percent in October 2023. France recorded the largest decrease, at 26.9 percent, followed by Italy with a 24.9 percent drop.

In October 2024, EU buyers purchased 66,964 plug-in hybrids, down from 72,154 units in October 2023. Over the ten-month period, 617,409 plug-in hybrids were sold in 2024, compared to 670,530 in 2023.

Conventional Hybrid Vehicles – Sales of conventional hybrids rose by 17.5 percent in October 2024, with their market share increasing from 28.6 percent in October 2023 to 33.3 percent. A total of 288,160 hybrid vehicles were sold in October 2024, compared to 245,308 in October 2023.

This marks the second consecutive month in which hybrid vehicle sales surpassed those of petrol-powered vehicles in the EU market. From January to October 2024, 2,692,726 hybrid vehicles were registered, compared to 2,247,298 in the same period of the previous year.

Petrol-Powered Vehicles – Sales of petrol-powered cars dropped by 6.8 percent in October 2024, though Germany bucked the trend with a 3.7 percent increase in market share. Petrol vehicles accounted for 30.8 percent of the market in October 2024, down from 33.4 percent in October 2023. A total of 266,498 petrol cars were registered in October 2024, compared to 285,845 in the same month last year.

Over the ten-month period, 3,011,926 petrol vehicles were sold in 2024, compared to 3,159,823 in 2023.

Diesel Vehicles – Diesel cars continued to lose market share in the EU, with a 7.6 percent drop in sales in October 2024, reducing their share to 10.9 percent. In October 2024, 94,587 diesel vehicles were sold, compared to 102,414 in October 2023. From January to October 2024, 1,087,459 diesel cars were sold, down from 1,219,014 in the same period last year.

Energy portal

Trump’s Return and the End of American Climate Ambitions?

21.11.2024

american-flag-usa — Photo-illustration: Unsplash (Lukas Juhas)

While Democratic Party supporters express their disappointment on social media and the media delve into “who’s to blame” for Kamala Harris’ debacle, Donald Trump is gearing up for his grand return to the political stage as President of the United States.

The controversial businessman and multimillionaire has once again captured the majority of votes, relying on his recognizable “down-to-earth” approach and openly conservative, anti-globalist views. His vision promises an America that will once again be “the most powerful nation in the world.” While some celebrate the return to former glory, others see it as a dangerous step backward. Either way, the days until the inauguration are counting down quickly, with the eyes of the world fixed on Donald Trump and his plans for America’s future.

There is no doubt that the next four years will be just as eventful as the election itself. But let’s turn now to the issue of climate change and what the return of Republicans means for the planet’s future.

Climate scientists warn that Trump’s policies favor fossil fuels and downplay the importance of environmental regulations, posing a serious challenge to the global fight against climate change.

His first term is remembered for the United States’ withdrawal from the Paris Climate Agreement and the rollback of hundreds of environmental protection regulations. He has already announced similar measures for his upcoming term. There are also concerns that the U.S. will reduce its investments in innovation and clean energy, given that the newly elected president is known for his skepticism of the scientific consensus on climate change.

It’s clear that Trump remains steadfast in his anti-climate stance, as nothing during his four-year hiatus has convinced him of the seriousness of climate change, which he has repeatedly described as a “hoax” by globalists.

For this reason, many climate and political analysts see Trump’s victory as a looming disaster, at least when it comes to the climate crisis. However, perhaps they haven’t been entirely fair to this Republican when reaching such alarming conclusions.

Foto-ilustracija: Unsplash (Callum Shaw)

To get a sense of what the next four years in the U.S. might look like, we must reflect on his term from 2017 to 2021. During that time, there was no climate catastrophe as predicted. In fact, greenhouse gas emissions declined—partly due to a shift from coal to natural gas and renewable energy, and partly due to the COVID-19 pandemic.

Now that it’s evident his first term did not plunge the world into a climate disaster, there’s no reason to panic before we see how things unfold once he takes office.

After all, although the other side loudly advocates for fighting climate change, we cannot say that Kamala Harris’ campaign stayed consistent with these principles. Numerous public figures took turns at the podium generously supporting the “blue” side, while offstage, they traveled in their private jets, which, according to the International Energy Agency (IEA), emit as much greenhouse gas in just two hours as the average person does in an entire year.

So, let’s not rush to conclusions. Trump might surprise us all by leaving behind not only a stronger society that many Americans hope for but also a healthier planet.

Milena Maglovski

Strengthening Energy Ties – Romanian Section of the Power Line to Serbia Commissioned

21.11.2024

NOVO struja , električna energija novo — Photo-illustration: Pixabay (Thomas)

Photo-illustration: Unsplash (Matthew T Rader)

At the beginning of the year, a meeting was held in Athens between the energy ministers of Romania and Serbia to discuss opportunities for enhancing cooperation in the energy sector. The discussions emphasized the importance of regional connectivity in the gas sector and the significance of the gas interconnection between Serbia and Bulgaria, which enables diversification of sources, including gas from LNG terminals in Greece and Azerbaijan. Plans for further connections with neighboring countries were also highlighted, with Romania and North Macedonia being among the first priorities, as reported on the Serbian Government’s website at the time.

In mid-November this year, the Romanian section of the 400 kV high-voltage interconnection power line connecting Reșița in Romania to the Serbian border was commissioned. This power line is not only a key energy bridge between the two countries but also a vital part of the Trans-Balkan Corridor for electricity transmission, directly linking the transformer stations TS Pančevo 2 and TS Reșița, according to the Elektromreža Srbije (EMS) website

One of the two systems, specifically one of the two power lines connecting TS Pančevo 2 and TS Reșița, has been commissioned, while the commissioning of the second system is scheduled for the first quarter of next year.

The Romanian section of the power line consists of 206 towers and spans a length of 62 kilometers.

Interconnection power lines refer to power infrastructure that links the electrical grids of two or more countries, allowing for cross-border electricity transmission. Through these lines, countries can exchange electricity, optimizing production capacities. For example, one country with a surplus of hydroelectric power can export it to a neighboring country experiencing a deficit. In general, connecting energy systems ensures greater energy stability for the countries involved.

To recall, EMS commissioned its section of the power line, which runs from Pančevo to the Romanian border, back in December 2017. The Serbian segment, 68 kilometers long with 203 steel lattice towers, has been crucial for electricity supply in eastern Serbia. It was initially commissioned as a dual-system power line.

The commissioning of this key segment of the Trans-Balkan Corridor strengthens the cooperation of energy networks in Southeast Europe, thereby enhancing the regional energy infrastructure that is much needed in this part of Europe.

Energy portal

Montenegro – Construction of the “Gvozd” Wind Farm Begins

21.11.2024

vetar — Photo-illustration: Unsplash (Levan Badzgaradze)

The construction of the “Gvozd” wind farm has officially started in Montenegro, marking the first major production facility that Elektroprivreda Crne Gore (EPCG) is building after more than 40 years.

The project, initiated in 2019, is valued at 82 million euros, and the wind farm is expected to be connected to the country’s power grid by the end of next year.

The installed capacity of the wind farm will be 54.6 MW, with an anticipated annual electricity production of approximately 150 GWh.

The construction will be carried out in phases and will include eight wind turbines with accompanying infrastructure, the construction of a 33/110 kV “Gvozd” transformer station (TS) at the project site, a 110 kV single-circuit transmission line between TS Gvozd and TS Krnovo, 3,125 meters in length, and another 110 kV single-circuit transmission line between TS Gvozd and TS Nikšić, 14,730 meters long. The project also entails the reconstruction of TS 33/110 kV “Krnovo” and TS 35/110 kV “Nikšić.”

According to Milutin Đukanović, President of the EPCG Board of Directors, a parallel project, “Gvozd II,” is being developed, with an installed capacity of 20 MW. Together, these projects will meet the energy needs of approximately 25,000 households. Moreover, the project is expected to reduce greenhouse gas emissions by about 104,000 tons, equivalent to the emissions of 62,000 cars.

“The construction of the ‘Gvozd’ wind farm and the necessary power infrastructure for grid connection will be entirely financed through loans. With an appropriate grace period during the construction phase, the project will essentially pay for itself,” EPCG stated on its official website.

The German company Nordex SE & Co. KG has been selected as the partner for the construction of the wind farm.

Đukanović emphasized that EPCG’s business philosophy is “produce where you consume,” a principle that is key to the green transition. He also noted that with the completion of the “Solar 5000+” project by July 1 next year, Montenegro will have 100 MW of solar rooftop installations.

Energy portal

Diversification of Energy Sources: North Macedonia Turns to Azerbaijan

20.11.2024

gas — Photo-illustration: Unsplash (sebastian-morelli-peyton)

North Macedonia has signed an agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR) to enhance its energy security. The partnership, formalized through a Memorandum of Understanding on cooperation in the energy sector, focuses on diversifying natural gas supplies and exploring innovative energy project solutions such as gas cogeneration.

Photo-illustration: Unsplash (tatjana-dimovska)

Fossil fuels, supplemented by limited hydropower, form the backbone of the country’s energy mix. Due to its heavy reliance on imported energy, North Macedonia has been significantly impacted by the energy crisis, making diversification of sources a logical next step. The majority of the natural gas consumed in the country comes from Russia, with a smaller share from Greece. This dependence on a single primary source, coupled with fluctuating energy prices, has repeatedly strained the energy sector.

SOCAR, with access to vast gas resources from the Caspian Sea region, not only manages extensive reserves but also operates key pipelines such as the Trans-Anatolian Natural Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP), which connect directly to Europe. By joining forces with SOCAR, North Macedonia aims to achieve a more stable gas supply and better control over energy prices, although it is not the only country in the region sourcing gas from Azerbaijan.

Serbia, for instance, has also recently started importing gas from Azerbaijan. Last year, Srbijagas and SOCAR signed an agreement for the delivery of up to 400 million cubic meters of gas annually until 2026, with projections to increase these volumes to one billion cubic meters thereafter. Azerbaijani gas reaches Serbia through a new pipeline to Bulgaria, partially financed by the European Union (EU), which commenced trial operations in December 2023. This project also aimed to diversify Serbia’s sources, reducing its reliance on Russian gas given the high demand.

As for North Macedonia, its plan includes a €1 billion investment in a gas cogeneration system. This technology simultaneously produces electricity and heat from a single source—natural gas. It is an efficient method of energy utilization, as heat that would otherwise be wasted in conventional power plants is used for heating during the winter. By employing natural gas in a more efficient system like cogeneration, overall carbon dioxide emissions are reduced compared to less efficient systems.

From an economic standpoint, stable gas prices can lead to lower energy costs. However, the country must carefully transition to renewable energy. Despite the advantages of natural gas compared to some other energy sources, it is crucial for North Macedonia to increase its use of renewables to enhance economic competitiveness and reduce dependence on fossil fuels, which currently dominate the energy mix.

Milica Vučković

Sustainable Banking for a Secure Future

20.11.2024

For over two decades, ProCredit Bank has been working diligently to reduce its direct and indirect impact on the environment. Their commitment to achieving zero carbon emissions is reflected in their investments in renewable energy sources and the incentives they offer clients to do the same.

Miloš Stepandić, Head of Business at ProCredit Bank, discusses how they are achieving their goals and their plans for the future.

Q: What does sustainable banking mean for ProCredit Bank?

A: Our focus has been on sustainable banking from the beginning. This means that we have adapted all our work processes to sustainable practices: from online banking to strictly controlled energy consumption and other resources in our daily operations, to regular measurement of carbon emissions, the use of a low-emission vehicle fleet, and the development of a network of chargers for electric vehicles. We also conduct energy audits of the bank’s office buildings to find solutions for optimal energy management and increase the energy efficiency of our operations.

Considering that 90 percent of our portfolio consists of micro, small, and medium-sized enterprises, entrepreneurs, and farmers, it is clear how much responsibility and opportunity we have in promoting sustainability. Individually, these factors may not seem like key elements needed for an ecological transition, but collectively, they can have a significant environmental impact due to the diversity of their activities. This diversity includes different industries, production processes, and resource usage, meaning a comprehensive approach to sustainability can reduce the overall environmental footprint. Our business model is focused on providing financial services to innovative companies with a high degree of digitalization. Through collective efforts to reduce resource consumption and transition to sustainable practices, micro, small, and medium-sized enterprises can significantly contribute to global environmental protection and sustainable development goals.

Q: How can sustainable banking be improved?

A: There are many opportunities for improvement. So far, we have successfully allocated over 400 million euros in green investments, contributing to the modernization of infrastructure through the use of new technologies for the production, storage, and distribution of energy from renewable sources. The energy transition is not only a social and technological challenge but also an economic one, where the role of financial institutions becomes crucial.

IN FOCUS:

Q: How do you analyze clients during the financing approval process? How do you encourage clients to operate more sustainably?

A: Our impact starts with a thorough financial analysis. An essential contribution in the financing segment comes from the support of our colleagues in the Department for Sustainable Development, and we are the first bank in Serbia to establish a dedicated department for energy efficiency. We carefully analyze all aspects of our client’s operations, including the location of their activities, their impact on natural resources, the materials used, and the processes and equipment involved in their production. Through well-established procedures, we jointly identify and classify the impact of companies’ activities on the environment and workplace. These procedures help us establish standard methods for identifying and assessing environmental impacts and potential risks.

If we finance businesses engaged in environmentally risky activities, we explore whether more sustainable alternatives are available in the market that could replace current materials and processes and offer solutions to improve those processes. When deciding on loan approvals, we carefully assess whether the client’s activities meet the criteria outlined in ProCredit Bank’s Exclusion List of Activities. The ultimate goal is to replace harmful practices with better options and provide financial support to those striving for progress and recognizing the potential and importance of sustainable operations.

Q: How do you support the green transition?

A: ProCredit Bank has financed over 100 solar power plants for personal or commercial purposes. Renewable energy sources are a key part of the green transition we want to support, but other types of investments should not be overlooked, as they are equally important. With this in mind, about 60 percent of our green portfolio is dedicated to energy efficiency investments. We believe that we can only transition to a more sustainable model and improve our economy through a holistic approach.

ProCredit Bank

Read the whole interview in the new issue of the Energy portal Magazine ENERGY TRANSITION

Energy Initiatives at COP29 – What Can We Expect?

19.11.2024

NOVO vetar — Photo-illustration: Pixabay (distelAPPArath)

The 2024 United Nations Climate Change Conference (COP29) places significant focus on energy as one of the key sectors in combating climate change.

In light of this, the COP29 Presidency has officially launched three energy initiatives, inviting stakeholders to lend their support. These initiatives demonstrate the presidency’s efforts to enhance outcomes from the first Global Stocktake on renewable energy and hydrogen progress.

The Global Energy Storage and Grids Agreement at COP29 marks the first initiative under which signatories commit to a collective goal of deploying 1,500 GW of energy storage capacity by 2030. This represents a sixfold increase compared to the capacity available in 2022. Furthermore, it includes a commitment to add or upgrade 25 million kilometers of grid infrastructure by 2030, recognizing the need for an additional 65 million kilometers by 2040.

The Green Energy Zones and Corridors Agreement commits signatories to promoting green energy zones and corridors to connect renewable energy sources with the most vulnerable communities. This involves the development of larger intersectoral and interregional power grid connections to enable cost-effective and secure electricity transmission over long distances.

The COP29 Hydrogen Declaration focuses on increasing the production of renewable, clean, and low-emission hydrogen, a commitment made by the signatories. It also aims to accelerate the decarbonization of existing hydrogen production from fossil fuels. The goal is to significantly boost green hydrogen production from the current one million tons per year while reducing the 96 million tons of hydrogen currently derived from fossil fuels.

Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), emphasized the global target of tripling renewable energy capacity by 2030, a goal set at last year’s COP28. According to him, achieving this target requires more than just increasing renewable energy production—it also demands overcoming challenges related to connecting renewable sources to power grids. He highlighted energy storage, grid expansion, and significant investments as crucial factors.

Further support for renewable hydrogen development comes from the commitment of international and national development financial institutions to back the 10 GW Lighthouse Initiative. This initiative aims to foster the development of renewable hydrogen projects with capacities ranging from 100 MW to 1 GW in developing and emerging economies, advancing them to the final investment decision (FID) stage by 2030, according to the official COP29 website.

Additionally, IRENA and Azerbaijan’s Ministry of Energy officially launched the Accelerated Renewable Energy Partnership for Central Asia (APRECA) to accelerate investments and enhance interregional connectivity. This initiative aims to boost renewable energy deployment, foster green industrialization, and maximize socioeconomic benefits in the region.

The European Bank for Reconstruction and Development (EBRD), alongside the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB), announced a major investment in solar projects in Azerbaijan. Each of these banks will invest 160 million dollars to construct two solar power plants with a combined capacity of 760 MW.

Katarina Vuinac

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