By Park Jae-hyuk
Hahn & Company (Hahn & Co.) is accelerating investments taking into account environmental, social and corporate governance (ESG) criteria through the acquisition of companies engaging in eco-friendly businesses.
The private equity firm (PEF) took over SK Eco Prime, which was formerly SK Chemicals biofuel operation, for 380 billion won ($340 million) in February last year, to increase its investments in renewable energy.
This decision was made amid growing calls for businesses worldwide to focus more on fulfilling their social responsibilities through sustainable investments.
The European Union proposed the Renewable Energy Directive (REDII) for the promotion of energy from renewable sources in various sectors. The Ministry of Environment here also announced a plan last December to reduce greenhouse gas emissions in 2030 by 24.4 percent from the 2017 level to fight climate change.
With the passing of the first Polish offshore wind act, plans for offshore wind development in the Baltic Sea are at hand and the construction of the very first Polish offshore wind farms will soon become a reality.
By 2030, approximately 5.9 GW will be commissioned in the Polish exclusive economic zone of the Baltic Sea. PGE Capital Group – the leader in offshore wind projects in Poland, is by then committed to deliver the 2.5 GW.
Long-awaited regulatory framework is here
The offshore wind act frames conditions of deploying offshore wind farms in the Polish zone of the Baltic Sea. The act also streamlines and simplifies necessary permitting procedures and includes provisions pertaining to establishing the local supply chain. Poland has decided to introduce a market-based scheme through two-sided contract for difference (CfD) model being the most cost-effective solution and also in line with the EU state aid principles and Renewable Energy Directive.
Around 14% of bioenergy used in Europe is of unknown origin, according to an EU report, which highlights the need to improve the tracing of wood burned for electricity production.
The report by the European Commission’s in-house research centre also uncovered a 20% gap between the reported use of biomass in sectors like furniture or construction and other reported uses.
This gap “can be almost entirely attributed to energy use,” said the EU’s Joint Research Centre, based in Ispra, Italy.
The report, published on 26 January, highlights both “win-win” forest management practices but also “lose-lose” situations where bioenergy exacerbates climate change and damages forest ecosystems.
Sweden provides 7.2 million EUR to boost Energy Efficiency in Bosnia January 30, 2021 2:15 PM by Y.Z
Sweden is allocating 7.2 million EUR for two projects aimed to reduce the environmental impact of excessive energy use and improve energy efficiency of public and residential buildings in Bosnia and Herzegovina (BiH).
The average energy consumption in public and residential buildings in BiH is over five times more than the annual energy consumption of buildings in EU countries located in similar climate conditions. As a result of excessive energy use and other pollution sources, 99.6% of the population of the country is exposed to PM2.5 air pollution which exceeds the World Health Organization (WHO) guidelines. Also, the WHO data shows that 27% of all deaths in the country are attributable to pollution. Domestic authorities can capitalize on the drive for higher energy efficiency to improve economic, health, environmental and socia
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The POWER Interview: Climate Change and Renewable Energy in 2021
With the start of a new year comes new year resolutions, new campaigns, new administrations, new policy goals, and new initiatives. To kick off 2021,
POWER talked with Jens Wolf, vice president and general manager of Europe at Enviva, a renewable energy company and the world’s largest producer of industrial wood pellets.
Wolf has more than 20 years of experience working across the value chain within the power, heat, and biomass industries, and has expertise in renewable energy, sustainability, and new market development. From his office in the UK, he works with customers, regulators, policy-makers and external stakeholders to grow his company’s market and customer footprint, and expand the use of its sustaina