NRG Matters: India needs $250bn to meet 2030 renewable targets; Abengoa starts commissioning of Jubail desalination plant
RIYADH: On a macro level, a report by Moody’s said India needs up to $250 billion investments to be able to meet its 2030 renewable targets, with TotalEnergies teaming up with Adani Enterprises to invest $5 billion to produce green hydrogen in India.
Zooming in, a consortium led by a Spanish energy company has started commissioning the 600,000 cubic meter per day Jubail 3A desalination plant located in the Eastern Province of Saudi Arabia.
Looking at the bigger picture:
• India needs to spend $225 billion to $250 billion to be able to meet its 2030 renewable targets, according to a report by the global credit rating agency Moody’s.
To reach net-zero emissions by 2070, the South Asian country needs a shift in its energy mix and move toward renewable sources.
It needs an energy mix that is enabled by supportive government policies, private sector participation and low cost capital, Moody’s added.
• The Middle East and North African region’s investment in energy is expected to increase by 9 percent to reach over $879 billion over the next five years, according to a report released by the Arab Petroleum Investments Corp.
Through a micro lens:
• TotalEnergies has partnered with Adani Enterprises to invest $5 billion to produce green hydrogen and related products in India as part of the South Asian country’s plans to…