Daily update: World’s ‘biggest’ wave energy project sinks without trace
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RenewEconomy editor@reneweconomy.com.au via mail10.atl111.rsgsv.net
2:54 PM (11 minutes ago)
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Plug pulled on Victorian wave energy project once billed as world’s biggest. Plus: Hazelwood owner defends rroftop solar tax; why name dropping for renewables funds is destined to fail; big EU banks pile into Green Bonds; why solar and EVs are a perfect match; the latest data on EV sales; the climate tipping points to watch out for; the economic case against fossil fuel; and Fortune 500 companies declare their renewables ‘buyers principles.’
US developers of what once was billed the ‘world’s largest’ wave energy project, Ocean Power Technologies, have abandoned plans for the $232m plant off the coast of Portland in Victoria. But it was always a project that was unlikely to deliver.
There was a joke running round the clean energy industry that if you wanted to get government funds for a big project, all you needed was a big corporate name.
Social entrepreneur Jeremy Leggett questions the wisdom of continuing to invest in oil and gas, and makes the economic argument for switching to solar energy.
WWF released a set of principles signed by leading Fortune 500 companies that frame the challenges and needs they are facing as large renewable energy buyers.