Power Plant News:
Loy Yang A & B
Researchers in Australia claimed success
on Thursday following the first test of carbon capture and storage (CCS) in Australia. The test unit will capture up to one thousand of the 22 million metric tons of CO2 Loy Yang emits each year.
July 10, 2008
India Gets It? PM Plugs Solar Power
India argues that developed countries must lead on emissions reductions, but that doesn’t mean the government is sitting idly by. At last week’s release of a national climate action plan, Prime Minister Singh declared India would “pool all our scientific, technical and managerial talents, with financial sources, to develop solar energy as a source of abundant energy.” Kevin Ummel looks at India’s solar potential – including GIS-mapping of possible plant sites – in India Sees (Some Of) the Light on Solar Thermal Potential.
Using IFC Profits for a Renewable Energy "Big Push"
With some $2 billion in profits for FY07, the IFC faces a dilemma of what to do with that money. Senior fellow Vijaya Ramachandran and I argue that instead of transferring some or all of it to the World Bank for business-as-usual low-interest loans, like it did last year, the IFC has the opportunity “to finance major shifts toward clean energy ... [by] helping to drive down costs through learning and economies of scale.” See Another Banner Year for IFC -- NOW Is The Time for A Big Push into Renewable Energy.
My thanks to Robin Kraft for his help in preparing this letter.
Senior Fellow, Center for Global Development