Here’s the latest action we’re following on the GreenBeat today:
BP predicts renewable energy growth to outpace oil — The company’s Energy Outlook 2030 sees renewables, nuclear and hydropower growing steadily in the next two decades, outpacing the growth of oil. Solar, wind and geothermal will contribute 18 percent to energy growth between 2010 and 2030, CNET reports. The numbers are still small, though. By 2030, renewable energy will make up 6 percent of primary energy use, up from 2 percent now. The report also forecasts the continued decline in global energy market share for oil and coal, while gas will increase, with the three reaching roughly equal market share in 2030.
Chevron to start $3 billion natural gas project in Asia — The interest in natural gas continues to rise from major oil companies. Chevron wants to jumpstart a natural gas project in the Gulf of Thailand this year to serve Asian demand, the Wall Street Journal reports.
GE to supply 50 gas turbines to China — The deal is expected to bring half a billion dollars in revenue to GE, $350 million of which will come in exports from the U.S., Reuters reports. GE is expected to announce $2 billion in deals with China this week to coincide with a state visit from Chinese president Hu Jintao. Yesterday, GE announced it would team with China’s Shenhua for a clean coal joint venture.
A growing number of California’s solar panels come from China — The China-versus-U.S. solar power debate has been heating up lately, with the U.S. poised to bring a world trade violations case against China on its subsidies for solar and the New York Times hosting an op-ed debate today on the subject. Grist reports that solar projects subsidized by the California Solar Initiative — worth about 3,000 megawatts of solar installations — sourced 39 percent of its panels from four Chinese makers in the fourth quarter of last year. Yingli Green Energy made up 17.5 percent of the market in 2010, up sharply from 1.2 percent in 2009, when it first entered the market.
Masdar halts hydrogen power project with BP in Abu Dhabi— The $2.2 billion hydrogen power plant was put on hold, reportedly due to disagreement over prices at which the plant’s carbon dioxide and electricity would be sold to its customers, Reuters reports. Masdar also ended plans for a solar manufacturing plant.
Joule brings on board White House veteran John Podesta — The biofuels company announced it has elected Podesta to its board of directors. Podesta is currently president and CEO of think tank Center for American Progress and served as chief of staff to President Clinton and co-chaired President Obama’s transition team.
Former First Solar CEO starts $300 million venture fund — Michael Ahearn’s fund has already raised $192 million, Earth2Tech reports, but it’s unclear whether the fund will go to support clean energy technologies.
Energy efficiency startup SCI raises $15.65 million — The company makes software with energy automation controls for commercial buildings that it claims can shave 15 to 25 percent off a building’s energy costs annually, playing in the hot field of building energy efficiency. The round was led by DFJ Growth Fund. SCI was also a winner last year in GE’s Ecoimagination contest.
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