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The world needs $1.3 trillion by 2030 to boost output; Amazon seals deals to raise green energy access by 33%: NRG matters
RIYADH: Looking at the bigger picture, the world is projected to need a significant amount of investments by 2030 to bolster production within the sector.
Moreover, countries like Iran are still scurrying to diversify supply sources and secure enough fuel for power generation.
Through a micro lens, firms such as Amazon and oil major Shell are sealing deals and announcing targets either to boost access to green energy or to slash carbon emissions.
Looking at the bigger picture:
·The world is in need of additional investments of around $1.3 trillion by 2030 to ramp up all types of energy output and infrastructure, Reuters reported, citing American multinational investment banking firm JP Morgan.
The investment will have to cover all fuels including renewables, nuclear, oil, and gas in order to ensure that no potential energy crunch takes place.
·Iran is preparing to seal a deal with Qatar next month to import liquified natural gas from the country, Bloomberg reported.
This comes as the Western Asian country wants to diversify its supply sources as well as guarantee enough fuel for power generation.
Through a micro lens:
·American multinational technology firm Amazon.com Inc. has sealed deals aiming to bolster its access to green energy by an estimated 33 percent, Bloomberg reported.
The e-commerce company is planning to acquire as much as 3.5 GW from American solar farms to power its offices, warehouses, and data centers.
·British publicly traded multinational oil and gas firm Shell is planning to slash carbon emissions to achieve net zero by 2050 regardless of progress among customers and the broader society, Reuters reported, citing the firms CEO.
This comes despite the company’s pledge to achieve net zero “in step with society and our customers”.
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