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Day: April 12, 2017

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Lucid Motors, a startup based in Fremont, California, on Thursday unveiled its electric car that it claims boasts specs rivaling Tesla’s Model S.

Lucid Motors, formerly Atieva, was founded by Bernard Tse, a former Tesla vice president and board member who was ousted as CEO following friction with the company’s largest shareholder, Beijing Automotive Industry Holding, in April. Peter Rawlinson, the former vice president and chief engineer for Tesla’s Model S, is Lucid Motors’ chief technology officer. The startup has yet to name a new CEO.

Lucid Motors unveiled its long-range electric sedan, the Lucid Air, at its prototype shop in Fremont. Scroll down for a closer look.

SOURCE: Business Insider

The world’s largest private power production company warns the sector that renewables could drive the oil price as low as $10 a barrel

A record number of oil and gas companies became insolvent last year, according to a new study which environmentalists said highlighted the need for the UK to prepare for the move to a low-carbon economy.

They warned that the loss of jobs in the sector when it becomes clear that fossil fuels can no longer be burned because of the effect on global warming would lead to “desolate communities” unless people were retrained to work in the “new industries of the 21st century”.

The study by accountancy firm Moore Stephens found 16 oil and gas companies went insolvent last year, compared to none at all in 2012.

After oil prices fell from about $120 a barrel to under $50 for most of the past year, smaller firms in the sector were unable to cope, Moore Stephens found.

Jeremy Willmont, who carried out the research, said: “The collapse of the price of oil has stretched many UK independents to breaking point.

“The last 15 years has seen a large increase in the number of UK oil and gas independents exploring and producing everywhere from Iraq to the Falkland Islands.

“Unless there is a consistent upward trend in the oil price, conditions will remain tough for many of those and insolvencies may continue.”.

His report said North Sea oil producers were facing more “headwinds” because of the need to decommission a number of offshore rigs.

Dr Doug Parr, chief scientist at Greenpeace UK, warned the ultimate demise of the fossil fuel industry would create “desolate communities” unless the Government took steps to help the country move to a low-carbon economy.

“As the warnings from climate science get stronger, now is the time to realise – as a utility chief recently warned – that the future is not in fossil fuels,” Dr Parr said.

“It’s also time for Government to recognise that we should not leave the workers stranded, but provide opportunities in the new industries of the 21st century.”

The utility chief cited by Dr Parr is Thierry Lepercq, head of research at French energy company Engie, who recently told Bloomberg that the growth in renewable energy could push the cost of oil down to as low as $10 in less than 10 years.

“Even if oil demand continues to climb until 2025, its price could drop to $10 if markets anticipate a significant fall in demand,” he said.

Engie, the world’s largest private power production company, is increasingly investing in renewables and selling off coal-fired power stations and fossil fuel exploration rights.

The firm recently carried out research which found the Provence-Alpes-Cote d’Azur region, home to about five million people, could save 20 per cent on energy costs by 2030 by switching to 100 per cent renewable sources.

And Mr Lepercq added: “The promise of quasi-infinite and free energy is here.”

However Joseph Dutton, an associate research fellow with Exeter University’s Energy Policy Group, said fossil fuels would be around for some time to come.

“There’s a real battle between fossil fuels and renewables in power generation,” he said.

“But in terms of renewable transport, we are so far behind where we need to be to tackle climate change.

“In fuels and chemicals, I think fossil fuels are set to remain for the foreseeable future.”

And Mr Dutton said any oil and gas supplies held by the insolvent companies would have been taken over by larger companies.

“Their assets are being picked up by the bigger companies. It’s not as if they are falling out of the picture. The companies might be, but the oil and gas reserves are going to different companies,” he said.

“It may well be that what they hold will still be produced further down the line.”

“Whether this represents a shift away from fossil fuels to renewables is maybe too early to say.

SOURCE: independent.co.uk

The Falcon Ma’an solar photovoltaic (PV) plant, one of the largest in the Middle East has been connected to the Jordanian national grid. The 23.1 MWp PV plant – executed by the Italian company Enerray, a global EPC contractor, and Saudi renewable energy company Desert Technologies – puts Jordan on the map as a leading regional solar powered nation, the partners emphasize.

The solar PV plant covers a surface area of half million square meters and delivers 147 million kilowatt hours of solar power to the Jordanian national grid every year.

Jordan was the first country in the Arab world, which in its National Energy Strategy for 2005–2020 committed significant support for renewable energy.

Solar power for a sustainable future in Arab countries

“The Falcon Ma’an project confirms the importance of Jordan’s pioneering role in the adoption of solar energy in the region, that is why I am so thrilled and looking forward to visiting the project together with the renewable energy leaders from the Arab countries on December 8th,” stated Hans-Josef Fell, President of the Energy Watch Group, Member of the German Parliament 1998–2013 and Author of the German Renewable Energy Sources Act 2000.

“Solar power plays an important role in transitioning Arab countries towards their sustainable future. It can fight against poverty, with many new jobs created and we will discuss how solar energy can help greening deserts, desalinate seawater, for new food and biofuel production,” added Hans-Josef Fell. “Falcon Ma’an project proves that solar and renewables are not only the future of these countries, but that this future is here today!”

Desert Technologies (25%), Enerray (24%) and Seci Energia (1%), have sponsored the PV project together with their local partner, Catalyst Private Equity (50%).

Seven Sisters renewable programme financing

The project has been financed under the innovative Seven Sisters renewable programme created by the World Bank’s International Finance Corporation (IFC) together with other lenders including FMO (Dutch Development Bank), The OPEC Fund for International Development (OFID), Finnfund (Finnish Fund for Industrial Cooperation), Europe Arab Bank and Arab Bank.

“The Falcon Ma’an solar plant, together with recently accomplished 10 MWp Shamsuna project in Aqaba, is another milestone in Enerray’s strategy of becoming one of the global solar industry leaders,” said Michele Scandellari, Enerray’s CEO.

“As the largest solar panels manufacturer in the world, we are proud of being the supplier to one of the first large-scale projects in Jordan and MENA region. It’s been a great pleasure again working with our long-standing partner Enerray and having initiated collaboration with Desert Technologies,” stated Gulnara Abdullina, General Manager, Africa & Middle East at JinkoSolar.

“Our superior Eagle module series will prove long-term reliability in harsh climates. This state-of-the-art project, together with others, will pave the way to a greater future solar deployment in MENA and beyond.”

“With Falcon Ma’an project SMA demonstrated once again its leadership in supplying turn-key Medium Voltage Power Station that guarantees the highest performance and availability in harsh environments,” added Valerio Natalizia, Regional Manager SMA South Europe.

Source: Saurenergy

تعلن شركة اشراق للطاقة عن توقيعها لاتفاقية لتوريد وتركيب وتشغيل نظام طاقة كهروضوئية بقدرة 518 كيلو واط ذروة لمصنع الأساس للمنتجات الخرسانية في مصنعهم في منطقة القسطل.

وقام بتمثيل الشركة السيد عدي الحوراني “رئيس مجلس الادارة” والمهندس وليد الحلاج “مدير عام الشركة” والسيد نضال صوان “مسؤول التكنولوجيا” ومثل المصنع المهندس رجا العلمي “رئيس مجلس الادارة” والسيد طاهر عبدالعزيز “المدير العام” بحضور السيد سالم الحلاج “مدير عام شركة اللوجستيات للطاقة”.

ومن المتوقع أن يتم انجاز المشروع بفترة لا تتجاوز 8 أسابيع علماً بأن المصنع استطاع الحصول على جميع الموافقات اللازمة.

By: Ishraq Energy

The total volume of Arab and foreign investments attracted by Jordan in the field of energy stands at about $5 billion, Prime Minister Hani Mulki said on Sunday, as he stressed the government’s support for investments in the field.

The projects have either been completed or are still under construction, Mulki said at the opening of the 3rd Jordan International Energy Summit, which attracted more than 500 experts, businesspeople and officials from more than 40 countries.

“These investments come in light of the government’s support to the sector and its keenness to boost its competitiveness in line with high standards and in a transparent manner,” the premier said at the summit, which was also attended by HRH Princess Sumaya, president of the Royal Scientific Society.

Jordan has accumulated a “great” experience over the years in the sector and has embarked on key projects in the field of energy, including the extraction of minerals and infrastructure projects, Mulki said.

Referring to the national energy strategy, he said it is a “clear blueprint” that guides the sector and that it seeks to boost reliance on local energy resources through projects in fields of renewable energy, oil shale and nuclear energy for power generation.

Mulki added that Jordan has intensified its efforts in the fields of oil and gas exploration and in regional electricity projects.

Underling the key role the energy sector plays in driving economic growth, Mulki said the sector contributes greatly to sustainable development in the country.

He added that the government was working from a clear plan to achieve the required goals.

With heavy emphasis on the potential of renewable energy, solar and wind energy projects with a total capacity of 1,500 megawatts and worth $2 billion are either under construction or operational, Minister of Energy Ibrahim Saif said in his address at the event.

Renewable energy’s contribution to the overall energy mix will reach 20 percent by 2020, the minister said.

He also referred to mega projects implemented in the fields of oil shale and nuclear reactors.

According to the minister, the country’s energy bill was reduced by JD2.5 billion ($3.5 billion), representing 11 percent of the gross domestic product (GDP), at the end of 2016, compared to JD5 billion ($7 billion) three years earlier when it accounted for 20 percent of the GDP.

“Jordan is working on diversifying its energy resources and has signed several agreements in this regard,” Saif said.

In his address, the minister also highlighted investment opportunities in the country in various fields of energy.

Participants during the event discussed several energy-related issues with a focus on regional cooperation, the potential of renewable energy and the diversification of energy sources.

By Mohammad Ghazal (SOURCE: Albawaba)

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