Renewable energies come from the 4 elements of nature. They come from the sun, they come from water, and they come from air and the earth. They’re available endlessly, and they don’t make any greenhouse gases, so in the energy sector they’re our only choice to save the planet from climate change. EIB has decided to dedicate at least 25% of its financing to climate action projects. This target is actually 35% by 2020for projects outside the EU.
Once finished, the Noor Ouarzazate complex will supply 580 megawatts, the equivalent of 2.2 million inhabitants in Morocco. In terms of impact, in 2016 over 4 million households will be supplied by renewable energy, thanks to the project the bank is financing, once they become operational. Beneath the ground has a geothermal reservoir. So we can drill deep wells and get a mixture of steam and water to turn into electricity. It’s producing about 10% of all the electricity produced in Iceland.
Besides the positive impact on climate, in our project, we will look also at sustainable development of the community. For example, the impact on employment, on the local community, whether they had been consulted. Getting a line of credit for 15 years, 20 years, 30 years from the European Investment Bank is a great help from multilateral agencies nudge us to follow high environmental and social standards. Not all renewable energy resources are available in all places. However, most countries have several options and have to choose the one which is more efficient and more economic. All the technologies will be needed in the path towards decarburization.
Clean Energy Minds Meet In Sacramento To Discuss Future
California is a leader. Renewable energy sources come on-line we have to get better. The best minds met in downtown today. The two-day energy conference is put on by cal-iso. They are the manager’s effort energy grid bringing people across the world for energy issues and solutions. Why California say, worldwide leader. Energy defines an economy. Experts from across the world are in Sacramento this week talking about emerging technology.
One of the key things California has shown is that you can have an ambitious clean energy goal and economic growth go land and land. California’s clean energy growth has produced several companies including smart wires, it is rolling out cutting-edge technology that can improve energy efficiency. It goes on the grid and allows you to push and pull power around on your existing grid without making costly upgrades.
Will It Produce More Jobs?
With the growth of new energy that is sort of increasing the demand for services like ours. The energy district is looking different to consumers. The energy is in big wires and big power plants and a model where people put rooftop solar on, their own local storage, Grids. California set a goal of generating renewable sources by 2020. Two years from now, how are we doing? We now have 30% or more of the load that is being served. And this is only the beginning. 33% we do it is not a problem. 50% we think it is not going to be too much of a problem, either.