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The truth about big oil and climate change

by Economist

In america, the world’s largest economy and its second biggest polluter, climate change is becoming hard to ignore. Extreme weather has grown more frequent. In November wildfires scorched California; last week Chicago was colder than parts of Mars. Scientists are sounding the alarm more urgently and people have noticed—73% of Americans polled by Yale University late last year said that climate change is real. The left of the Democratic Party wants to put a “Green New Deal” at the heart of the election in 2020. As expectations shift, the private sector is showing signs of adapting. Last year around 20 coal mines shut. Fund managers are prodding firms to become greener. Warren Buffett, no sucker for fads, is staking $30bn on clean energy and Elon Musk plans to fill America’s highways with electric cars.

Yet amid the clamour is a single, jarring truth. Demand for oil is rising and the energy industry, in America and globally, is planning multi-trillion-dollar investments to satisfy it. No firm embodies this strategy better than ExxonMobil, the giant that rivals admire and green activists love to hate. As our briefing explains, it plans to pump 25% more oil and gas in 2025 than in 2017. If the rest of the industry pursues even modest growth, the consequence for the climate could be disastrous.

Read more: https://www.economist.com/leaders/2019/02/09/the-truth-about-big-oil-and-climate-change

Santiago Metro

Santiago metro to meet 60% energy demand from renewable energy

by Saurabh, Cleantechies

Cities continue to show swift progress and leadership towards large-scale adoption of renewable energy technologies even as some countries continue to deny the very need of sustainable growth.

Chile’s Santiago metro system will soon source as much as 60% of its energy requirement from renewable energy sources. The metro system, which serves 2.4 million people every day, will acquire 42% of its energy needs from a solar power project while an additional 18% will come from a wind energy project. Both projects are located in the Atacama Desert.

Metro de Santiago has signed 15-year power purchase agreements with 100 megawatt El Pelícano solar power project developed by California-based SunPower Corp and Total. The project is expected to supply 300 GWh of electricity to Metro de Santiago every year. A wind energy project located to the north of the SunPower solar project will also supply electricity to the metro system.

Long-term renewable energy PPAs not only provide low-cost and escalation-free electricity for Metro de Santiago but are also a boon to the project developers like SunPower in a highly competitive and developing market like Chile.

Solar power project developers in Chile had been struggling due to the sudden increase in capacity and constrained transmission infrastructure. Several developers were even forced to sell electricity for free after copper mines in the Atacama Desert shut during the recent phase of low demand globally.

Cities across the world are increasingly switching to renewable energy to power their metro systems. Different metro systems in India have already set up rooftop solar power systems or are planning to do so. Like Metro de Santiago, Delhi Metrohas also entered in long-term power purchase agreement to source more than 200 megawatts of solar power capacity from one of the cheapest solar power projects in India.

source: http://cleantechies.com/2017/06/25/santiago-metro-to-meet-60-energy-demand-from-renewable-energy/