August 26, 2022: -Norway’s Climate Investment Fund and the biggest pension company, KLP, are set to finance a 420-megawatt solar power project developed in Rajasthan, India.
The two parties will invest around 2.8 billion Indian rupees for a 49% stake in the Thar Surya 1 project, which Italian firm Enel Green Power is constructing.
According to an announcement from the Norwegian Embassy in India, the Climate Investment Fund is slated to allocate 10 billion Norwegian Krone, almost $1 billion, to projects over the next five years.
The embassy also described India, which is on track to become the planet’s most populous country next year, as a “priority market.”
Norway’s development finance institution, Norfund, which manages the Climate Investment Fund and Enel Green Power, has established an India-focused strategic investment partnership.
“This is the initial investment we make with Enel, and together we have great ambitions to contribute with similar investments in India in the years to come,” Tellef Thorleifsson, CEO of Norfund, said in a statement issued Monday.
While it invests in renewable energy projects, Norway’s oil and gas reserves make it a significant exporter of fossil fuels.
“In the latest years, Norway has supplied between 20 and 25 percent of the EU and United Kingdom gas demand,” Norwegian Petroleum says.
“Nearly all oil and gas produced on the Norwegian shelf is exported and combined; oil and gas exceed half of the total value of Norwegian exports of goods,” it adds.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector
It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.
Talking to Thomas Hundertmark, a senior partner in McKinsey’s Houston office, Darren Woods is chairman and CEO of ExxonMobil made some crucial points and also gave some insights on what the conglomerate was doing in order to save the climate.
When Darren Woods took the reigns of ExxonMobil six years ago, no one could have anticipated that the Kansas resident would soon face what Texas oil patch vets call “a whole pile of trouble.” Three years later, the oil market collapsed during the COVID-19 pandemic, which dealt the 140-year-old oil organization its first annual upset in four decades.
Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.
Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.
The activation of the Fallon Two Rock solar farm project has recently bolstered the Californian energy …