RIYADH: Soaring energy costs are affecting almost every country. While Germany’s natural gas imports are seen slipping, Poland is allowing coal to make a comeback into the country’s energy plans.
Additionally, Japan is calling for the speeding up of nuclear restarts.
On a micro level, car makers are sealing deals with one another to propel the adoption of electric vehicles, in the near future.
Other firms such as Sweden’s Ikea are investing significant amounts in solar parks amid a renewable push.
Looking at the bigger picture:
·Germany’s natural gas imports slipped 8.2 percent in January of 2022 when compared to the corresponding period last year, Reuters reported.
Despite this, the bill jumped 217 percent in the same period as prices associated with natural gas soared.
·Poland has announced that it plans to raise the usage of power plants fired by coal in the short and mid term, Bloomberg reported.
This comes as gas — which was supposed to be the transition fuel in the European country’s path to nuclear and renewable energy — prices surged exponentially over the last few months.
·Japanese lawmakers are calling for swift nuclear restarts amid the energy crisis as a result of soaring energy bills and geopolitical tensions, Bloomberg reported.
However, the attempt to speed up the process is hindered by a web of red tape governing nuclear reactors following the 2011 Fukushima nuclear disaster.
Through a micro lens:
·The investment arm of Swedish multinational furniture retail company Ikea, Ingka Investments, is planning to invest a total of 340 million euros ($373 million) on nine solar parks across Germany and Spain, Bloomberg reported.
Germany-based photovoltaic specialist company Enerparc is responsible for developing the projects which are set to be ready for construction towards the end of 2022.
·American multinational automotive manufacturing corporation General Motors Co. and Japanese manufacturer of automobiles Honda Motor Co. are collaborating in the development of millions of small affordable electric vehicles in major global markets, Bloomberg reported.
The car makers are planning to launch the first models in North America by 2027.
·Germany’s Sono Motors has announced that it is partnering with Finnish vehicle contractor and supplier for the development and production of battery, roof, and kinematics systems Valmet Automotive in the production of electric solar cars.
Commercial production is set to take place in 2023 in Finland, Reuters reported.
