The newest report from the United Nations Environment Program (UNEP), in cooperation with Bloomberg New Energy Finance, a clean tech analytics firm, shows that the combined impetus of stimulus funding, feed-in tariffs (FiTs) and renewable portfolio standards (RPS) generated a record $211 billion globally in 2010 in renewable energy investment.
As oil prices continue to rise at a quick pace all eyes are looking to political unrest in the Middle East and North Africa. In particular the focus is on Libya where violence and revolt has led to a country wide slowing of oil production and in some cases a complete halt of operations at several state owned oil fields. Subsequently, oil prices have surged to US$100 a barrel.
First Energy Bank, a Bahrain-based investment bank, will build a $1 billion polysilicon plant in Saudi Arabia.
California solar start-up Ausra, has found its niche in the industry by providing solar thermal technologies to solar power plant developers.
The Desertec Foundation announced its Desertec Initiative this week, a unification of several EU-MENA (Europe, Middle East, North Africa) companies with the objective of tapping into the wealth of solar potential in North Africa's deserts.