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Bernstein analyst: 100% renewable energy transition looking more and more feasible

first_imgBernstein analyst: 100% renewable energy transition looking more and more feasible FacebookTwitterLinkedInEmailPrint分享Barron’s:Electricity generation is the largest single contributor to the carbon emissions that are warming the planet. It accounts for 42% of global emissions, and that share is likely to grow as transportation increasingly is powered by batteries instead of oil.As countries announce ambitious plans to wean their economies from fossil fuels, their efforts to shift how they generate electricity will determine whether they can hit those goals. The International Renewable Energy Agency (IRENA), which helps governments come up with plans to shift to renewables, has estimated that 86% of electricity can be generated with renewables by 2050.That number might seem high, but more data is now supporting the potential for an aggressive shift in power generation. In a new report, Bernstein analyst Meike Becker examined how countries can get to 100% renewable electricity generation by 2050, and the analysis has some good news about the potential for renewable generation.Becker’s report found that countries will take widely different paths to renewable generation, based on their natural resources. If coal and oil deposits determined a country’s fate in the 20th century, the force of its rivers and strength of its sunshine will likely determine its path in the 21st. Countries that generate hydroelectric power are way ahead in terms of producing clean power. Norway generates 98% of its electricity from renewable sources, largely because of hydro power. As of 2015, Brazil got 75% of its power from hydro sources. Canada relies on renewables for 67% of its electricity.But even in countries without rushing water generating much electricity, Becker sees a feasible path to renewable generation. In Belgium, for instance, hydro accounts for just 7% of generation. What’s more, Belgium depends on nuclear power for about 30% of its electricity, and the country plans to phase nuclear out by 2025. Nonetheless, Becker expects Belgium can generate at least 75% of its electricity with renewables by 2050 by relying on solar, wind and a variety of other technologies, including so-called “combined cycle gas turbines” that use gas and steam for power. The key to doing this is being able to generate and store power at times when the sun isn’t shining and the wind isn’t blowing, using batteries and technologies that can use other fuels more efficiently.The chances that countries can generate all their electricity with renewables by 2050 are “at this point very close to 100% for countries with good resources and a bit further away if conditions are less favourable,” she wrote in an email to Barron’s. Nonetheless, countries without the same resources can still generate “very high share, and usually higher than what most people currently think, I would say.”More: The path to 100% renewable power is looking more achievablelast_img read more

Turkey set to issue tender for 1GW of solar capacity

first_imgTurkey set to issue tender for 1GW of solar capacity FacebookTwitterLinkedInEmailPrint分享PV Magazine:Turkey’s minister of energy, Fatih Dönmez, has announced plans to revitalize the country’s Covid-19-stricken economy, which include a 1 GW solar tender under the national Yeka (Yenilenebilir Enerji Kaynak Alanları) renewable energy program.Originally planned for last month, the procurement round will tender PV projects ranging in generation capacity from 10-50 MW across 40 of the nation’s provinces and is due to be staged during the next quarter.“The scheduling of the tender may help the Turkish solar market, which is very much stressed under Covid-19 restrictions,” said Hakki Karacaoglan, CEO of German company KRC Consulting.The consultant told pv magazine Turkey had added only 139 MW of new solar capacity in the first four months of the year.The Yeka tender was originally postponed in January 2019, because of the nation’s parlous finances. The authorities planned to try again before the end of the year but eventually pushed the tender back to last month, only for the public health crisis to capsize their plans again.[Emiliano Bellini]More: Turkey plans 1 GW solar tender before Octoberlast_img read more

Operation Martillo: USS Nicholas, Coast Guard seize drug shipment worth more than US$6 million

first_img MIAMI — USS Nicholas and Coast Guard participating in multi-national anti-illicit trafficking effort Operation Martillo seized in the Pacific coast of Central America 275 pounds of marijuana and 500 pounds of cocaine worth more than US$6 million. The operation intends to disrupt organized crime operations by limiting their ability to use Central America as a transit zone. Crewmembers of the USS Nicholas and a U.S. Coast Guard Law Enforcement Detachment Team seized the narcotics June 19 after a U.S. Navy aircraft spotted a speedboat. The drug traffickers then began to jettison the contraband overboard. An embarked SH-60 helicopter was launched with a gunner on board to intercept the speedboat and mark the debris field with a smoke float. In an attempt to get the vessel to stop, the gunner fired warning shots across the bow and aft of the speedboat. When the vessel did not stop, the gunner fired disabling rounds, bringing the speedboat to a stop. The USS Nicholas then launched a rigid-hull inflatable boat with Coast Guardsmen and seized the speedboat. “This interdiction is a clear example of our commitment to produce a safer and more secure region where criminal organizations no longer wield the power to destabilize governments,” said Rear Adm. Sinclair Harris, commander, U.S. Naval Forces Southern Command and U.S. 4th Fleet (COMUSNAVSO/C4F). “These organizations threaten national and regional security and public safety, so we need to prevent the entry and spread of illicit drugs, violence, and transnational threats to countries throughout the region and to the United States.” “More than 80% of the narcotics entering Central America and largely transiting through Mexico on their way to U.S. markets enter via maritime littoral routes, with the main conveyance being ‘go-fast’ boats,” said Harris. “By teaming up with our partner nations and allied forces to scrutinize the littorals, we will deny transnational organized crime networks these routes.” Operation Martillo (Spanish for ‘hammer’) is a partner nation effort targeting illicit trafficking routes in coastal waters along the Central American isthmus. This joint service, interagency, and multinational operation is being led by Joint Interagency Task Force-South, a National Task Force charged with detecting, monitoring, and supporting the interdiction of illicit trafficking in a 42-million-square-mile area primarily in the U.S. Southern Command (USSOUTHCOM) area of operations. By Dialogo July 05, 2012last_img read more

Supreme Court appears willing to leave Obamacare in place

first_img– Advertisement – The court’s six conservatives seemed sympathetic to arguments made by Kyle Hawkins, the Texas Solicitor General, and acting Justice Department Solicitor General Jeffrey Wall that the individual mandate became unconstitutional when it was stripped of an accompanying penalty.But Roberts and Kavanaugh suggested that would not doom the rest of the law.“I think it’s hard for you to argue that Congress intended the entire act to fall if the mandate was struck down,” Roberts told Hawkins. Roberts was appointed by President George W. Bush.Roberts acknowledged that some Republican lawmakers may have wanted the Supreme Court to strike down the law, “but that’s not our job.”Kavanaugh told Donald Verrilli, who was solicitor general under former President Barack Obama, that “I tend to agree with you that this is a very straightforward case” and that under the court’s precedents “we would excise the mandate and leave the rest of the act in place.”Later, Kavanaugh told Hawkins that it “sure seems” like Congress in 2017 wanted to lower the individual mandate penalty without getting rid of the Affordable Care Act’s other provisions, such as its protections for those with preexisting conditions.The court’s three liberals, Justice Stephen Breyer, Sonia Sotomayor and Elena Kagan are expected to side with California and a coalition of other Democratic-led states that are defending Obamacare. It takes five votes to gain a majority on the nine-judge panel.Two lower courts sided with Texas, including the 5th U.S. Circuit Court of Appeals court, that the individual mandate was unlawful. The appeals court did not say whether the rest of the Affordable Care Act would also have to be struck down.Arguments, which were scheduled to last for 80 minutes, began at 10 a.m. ET and were continuing around 12 p.m. ET.A decision is expected toward the end of June.The case is known as California v. Texas, No. 19-840.This is breaking news. Check back for updates.  – Advertisement – A demonstrator holds a sign in front of the US Supreme Court in Washington, DC, on November 10, 2020, as the high court opened arguments in the long-brewing case over the constitutionality of the 2010 Affordable Care Act, under which then-president Barack Obama’s government sought to extend health insurance to people who could not afford it.Nicholas Kamm | AFP | Getty Imagescenter_img The Affordable Care Act seems likely to withstand its third challenge at the Supreme Court.Several of the court’s conservatives on Tuesday expressed an unwillingness to strike down the landmark legislation during oral arguments in a case brought by red states seeking to eliminate the law.Chief Justice John Roberts, who cast the key vote in 2012 upholding Obamacare, and Justice Brett Kavanaugh, an appointee of President Donald Trump, both suggested that the court may cast aside a challenged provision of the law, known as the individual mandate, while leaving the rest of it standing.- Advertisement – The individual mandate provision, as enacted in 2010, requires most Americans to obtain health insurance or pay a penalty. The GOP-controlled Congress reduced the penalty to $0 in 2017.The Supreme Court upheld the mandate in 2012 under Congress’s taxing power, but Texas and other Republican-led states argued that the reduction of the penalty made that justification no longer workable, and as a result the whole Affordable Care Act must be struck down. The Trump administration, via the Department of Justice, argued in favor of the red states’ challenge.Health-care activists warned that if the Supreme Court struck down the Affordable Care Act, more than 20 million people could lose their insurance. The dispute, which was argued in the shadow of last week’s presidential election, was a central focus of Democrats during the confirmation hearings for Justice Amy Coney Barrett last month.- Advertisement –last_img read more

Clamoring to get home, India’s migrant workers stone police

first_imgIt happened when officials stopped the workers, who had rented vehicles, from crossing into neighboring Madhaya Pradesh, Rajasthan and Uttar Pradesh states, because they did not have sufficient paperwork for entry, officials told AFP.Gujarat is one of India’s main industrial hubs, and authorities there were bracing for a logistical “nightmare” after about two million migrant labourers and their families signed up for permission to return home, an official in the state said.They are clamoring to get back to their villages despite the fact that some might have the opportunity to work again. The government is pushing for factories to reopen and has eased some restrictions in the lockdown which will extend for two more weeks from Monday.”Making arrangements for even half of the registered people would be a nightmare for the district administrations,” the official, who asked to remain anonymous, told AFP. More than 2,000 rural migrant workers blocked from returning home pelted Indian police with stones, officials in Gujarat said, as millions more stranded in the state readied to return to villages.Poor migrant workers across the country lost their jobs during the world’s biggest pandemic lockdown, which began in late March to guard against the spread of new coronavirus.Saturday’s clash in western India’s Gujarat is the latest in a spate of such protests across India. In Indore, in the central state of Madhya Pradesh, 14 migrant workers and four others were found by police on Saturday crammed into a cement mixer, local media reported. The migrants had been trying to return home from western Maharashtra state to northern Uttar Pradesh state — a 1,200-kilometre (745-mile) journey.In a vast exodus, many migrant already managed to return to their villages, mostly on foot, but local media reported that some died on their long journeys. Others have been stranded at crowded shelters in cities.The government late last week allowed special cross-border trains and buses to operate to bring those who wanted to return to their villages in other states.Inter-state public transport is still barred.center_img Topics :last_img read more

Indonesia steers clear of COVID-19 resolution ‘politicization’

first_imgForeign Minister Retno LP Marsudi said that Indonesia had thrown its support behind the resolution based on the points that were highlighted, as well as others such as assistance for low and middle income countries and the participation of women.”Indonesia has been very consistent in reminding all members of the importance of cooperation among countries, to set aside differences and not to politicize the meeting and its issues,” Retno said during a virtual briefing in Jakarta on Wednesday.The resolution was first introduced by the European Union and had been negotiated since early April. It was coopted by critics of China later on, particularly by the United States and Australia, that sought to campaign for an independent inquiry that would hold Beijing accountable for the spread of the virus.The SARS-CoV-2 virus, which has spread around the world, infecting nearly 5 million people and killing more than 323,000, is believed to have emerged at a local market selling wild animal meat in the central Chinese city of Wuhan late last year. As Australian officials hailed the unanimous support for the adoption of a resolution at Tuesday’s World Health Assembly (WHA), Indonesia insisted that its backing had nothing to do with the neighbor’s contentious agenda, steering clear of the “politicization” of the global health crisis.At least 135 countries backed the COVID-19 resolution on Tuesday, which, among other things, highlights the importance of strengthening global cooperation and universal, timely and equitable access to affordable health technologies.Read also: US savages WHO as it promises pandemic review, but China pledges $2 billion The move has prompted strong opposition from China and had led nations to distance themselves from the resolution, including Indonesia, according to people familiar with the situation.Read also: Australia and China spat over coronavirus inquiry deepensIn late April, Minister Retno said she had spoken with her Australian counterpart Marise Payne about the matter, but said that Indonesia was more concerned about mitigating the social and economic impacts of the COVID-19 outbreak in the country.Acting ministry spokesperson Teuku Faizasyah also insisted it was wrong to mistake Indonesia’s support for the resolution as an indication that it was party to a “coalition” led by Australia that was calling for an independent investigation into the pandemic, as reported by Australian media.“Indonesia was actually a cosponsor of the resolution […] from the beginning. If we look at the resolution as a whole, there is no specific call for an independent investigation or inquiry, but a global effort to foster cooperation to respond to COVID-19,” he told the media in a separate briefing on Wednesday.Faizasyah said Indonesia did not want to politicize a resolution made with good intentions for international cooperation.He also pointed out that because China had also cosponsored the resolution, there were no longer any “contentious matters that could cause debate and politicization”.Leading up to the annual meeting of the WHA on Monday and Tuesday, member countries were knee-deep in negotiations to come up with a draft resolution acceptable to all.Along with dozens of other countries, Indonesia agreed over the weekend to endorse a version of the draft that proposed that an independent “evaluation” be carried out “at the earliest appropriate moment”, and “in consultation with member states” and “using existing mechanisms”.The text does not mention China by name.“This obviously is good enough for China,” said Anggia Valerisha, who teaches international relations at Parahyangan Catholic University.In a speech at the assembly on Monday, Chinese President Xi Jinping said his country supported a comprehensive evaluation of the global response to the pandemic, Reuters reports.The seven-page document was finally adopted by consensus on Tuesday.Hasan Kleib, Indonesia’s permanent representative to the United Nations in Geneva, Switzerland, said Indonesia appreciated the fact that some of its own views, such as ensuring equitable and affordable access to medical supplies, were accommodated in the resolution.Meanwhile, Australia’s Payne said the resolution was “an important part of the conversation we started,” and expressed her gratitude to all the drafters involved in the past few weeks.Read also: Australia welcomes growing support for COVID-19 inquiry at WHO meetingBut Reuters also reported that the Chinese Embassy in Canberra called out Australia’s vindication at the WHA as “a joke”, with a spokesman saying that the global resolution was different from what Australia had proposed. The WHA is the decision-making body of the World Health Organization.Anggia argued that Indonesia showed the most reluctance in echoing Australia’s earlier call because it put the blame on China, which in turn sent a strong message to Canberra.“I think Indonesia’s response at the time was reasonable because it was facing extraordinary COVID-19 problems and had no energy to get dragged into a ‘drama’ with China,” she said.“Indonesia is not equipped to be treated harshly by China, especially in the economic field, at a time when the domestic economy is sluggish.”Read also: World Bank warns pandemic could push 60 million into extreme povertyThe pandemic has proven detrimental to the global economy, with countries teetering at the edge of recession. Some have been emboldened enough to look for a scapegoat, experts say.“On whether Indonesia will openly criticize China, I don’t think [it will],” Anggia said.“Surely Indonesia will try to be very constructive when dealing with China, bearing in mind the two countries have strong economic ties and interests.”Topics :last_img read more

Friday people roundup

first_imgF&C Investments, Aviva Investors, Muzinich & Co, Axa Real EstateF&C Investments – Howard Pearce has been appointed chairman of the responsible investment advisory council, which will replace the existing Committee of Reference from January next year. Pearce, who spent a decade as head of the UK’s Environment Agency Pension Fund (EAPF), will begin working with F&C immediately. Following his departure from the EAPF in 2013, Pearce launched his own consultancy, HowESG.Aviva Investors – Veronique Leroy and Jolanta Touzard join the asset manager’s infrastructure team. Leroy has been named head of infrastructure investment services, joining from Octopus Investments, while Touzard is assistant fund manager, joining from Equitix. Leroy was responsible for renewable energy projects during her two years at Octopus and spent nearly three years prior to that as director of EMEA strategy at GE Capital. She has also worked at the Boston Consulting Group and began her career at Alcatel Lucent.Muzinich & Co – Martin Empacher has been named Nordic director of client relations, based in Copenhagen. He most recently worked at Saxo Wealth Management. Axa Real Estate ­– Guillaume Spinner has been promoted to CFO. He joined the company more than 10 years ago and held various responsibilities in the fund management business. Spinner started his career at Archon Group in France, studying at EDHEC Business School and the London School of Economics. He will report to Arnaud Prudhomme, global CFO and COO at Axa Real Estate.last_img read more

ONP Management Taking Part in Saudi Arabian Floating Wind Project

first_imgHamburg-based ONP Management GmbH has been named the Technical Advisor for the 500MW floating wind project offshore Saudi Arabia being developed by Plambeck Emirates LLC.As reported earlier this week, Plambeck Emirates and Italy’s Saipem signed a Memorandum of Understanding and an exclusive agreement for the development of the 500MW project.Saipem and Plambec will sign the EPCI contract once financial agreements for the project are finalized.The project is part of the 5GW New Wind Market concept proposed by Plambeck to the Kingdom of Saudi Arabia. ONP Management is also Technical Advisor for the remaining 4.5GW capacity.The floating wind project will be a part of the Saudi Arabian government’s policy “Vision 2030”, Plambeck said.last_img

Top female U.S. Athlete-of-the-year

first_imgSIMONE Biles has been voted the Associated Press Female Athlete-of-the-Year. Voted bySimone Biles in action at the Olympics in Brazil 2016U.S. editors and news directors, Biles grabbed 31 out of a possible 59 votes to be honoured as the Sportswoman of 2016.Biles had great competition. She bested fellow Olympian Katie Ledecky, who won four gold medals and a silver in the pool during the Rio Olympics to come in second place in voting.Serena Williams, who won Wimbledon for the seventh time this year, tied with AP Women’s NCAA Basketball Player-of-the-Year, Breanna Stewart, for third place. Biles’ Olympic teammate, Gabby Douglas, was awarded the same honour back in 2012 after her epic turn at the London Olympics.Even without such an honour, Biles has had a pretty incredible year. She’s won gold, covered magazines, met her favourite celebrities, turned heads on red carpets and has become quite the role model for young girls everywhere.With her four gold medals, Biles set a new American record for the most gold medals in women’s gymnastics at a single Olympic Games. She also nabbed a bronze medal for her individual work on the balance beam.last_img read more

Update on the latest sports

first_img— Pakistan cricket’s celebrated allrounder Shahid Afridi has tested positive for COVID-19. Afridi tweeted Saturday that he had “been feeling unwell since Thursday” and his body “had been aching badly.” He announced that “unfortunately I’m COVID positive” and asked for prayers for a speedy recovery. Afridi quit international cricket in 2017 and has since played in Twenty20 leagues around the world. USOPC-PROTEST PROBLEMSUS Olympic leaders eye change on protests amid wary athletesDENVER (AP) — U.S. Olympic leaders are open to changing a longstanding rule restricting protests at the Olympics. But the U.S. Olympic and Paralympic Committee is also facing backlash from some of its own athletes who feel they’ve been kept out of the loop.The USOPC is forming an athletes’ group to look into racial issues that have been exposed across the country in the aftermath of George Floyd’s killing in Minneapolis. But the committee made the move before consulting with the group that is supposed to represent athletes on the U.S. team. That upset some athletes. Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-SPORTSTV money gives NFL leg up if fans can’t fill team’s coffersUNDATED (AP) — Timing favors the NFL over other major pro sports leagues in trying to figure out how to keep the coronavirus pandemic from wrecking the 2020 season. In other developments related to the COVID-19 pandemic:— Major League Baseball wants an answer by the end of the weekend on its latest pay proposal. According to details obtained by The Associated Press, MLB is offering players 80% of their prorated salaries and a 72-game schedule beginning July 14 in an effort to start the pandemic-delayed season. Players would get 70% of their prorated salaries during the regular season and the rest for completion of the postseason under MLB’s plan.— NASCAR’S Cup Series returns to the track for the third time in eight days Sunday at Homestead-Miami Speedway, this time with a small number of fans in the stands. The 1,000 guests will be almost entirely military members. It’s the 22nd time that NASCAR will run at Homestead, and the first time it’s happening in any month other than November. The weather is expected to be hot and humid.— Major League Baseball and the affiliated minor leagues are shut down but an independent circuit is set to open on July 3 with some fans in the seats. The American Association says six teams will play in three hubs, at least at the start of the season. Minnesota’s St. Paul Saints will play home games at Sioux Falls Stadium along with South Dakota’s Sioux Falls Canaries. Manitoba’s Winnipeg Goldeyes will be based at Newman Outdoor Field with North Dakota’s Fargo-Moorhead RedHawks. The Chicago Dogs will play home games at the Ballpark Commons with the Milwaukee Milkmen.— New Zealand has become one of the first nations in the world to welcome hordes of fans back into a packed sports stadium. More than 20,000 fans poured into a stadium in Dunedin to watch a rugby match Saturday, with no masks or social distancing required. New Zealand removed almost every remaining virus restriction this week after no new cases of COVID-19 were reported in the country for more than three weeks, and all those who contracted the disease were determined to have recovered. The only major restriction that wasn’t lifted was the shutdown of the country’s border. America’s most popular sport has another big advantage if the games are played: TV money.While NFL owners could lose billions collectively with limited capacities in stadiums or no fans at all, the league is well positioned financially because of lucrative media contracts approaching $10 billion in a full 2020 season.Fitch Ratings recently affirmed its “A-plus” credit mark for the NFL and its properties in part because of the league’s media deals. Fitch says the NFL estimates each team’s media revenue at $250 million per season. The number gets bigger later in the contract, and each deal is set to expire in the next two years.So it’s safe to say more than half of the league’s $15 billion in annual revenue comes from the TV deals shared equally among all 32 teams — unlike Major League Baseball, the NBA and NHL.MLB’s attempts to get the baseball season started are being held up in part by a disagreement over how to compensate players in the likelihood that owners will have no fan-related revenue.center_img June 13, 2020 Update on the latest sports Both the athletes and the USOPC are working out their differences. And both agree that attacking the problem of racism and social injustice is more important than internal squabbling.last_img read more