Daily Shorts: Germany boosts green fund, Morocco eyes 400 MW solar project

Morocco has launched a prequalification tender for a 400 MW solar project in the Atlas Mountains. The country's renewable energy agency Masen is seeking bidders to finance, build and operate the Noor Midelt III project using photovoltaic technology. Last month, Masen approved six consortiums to bid for Noor Midelt II, a 400 MW PV plant with two-hour storage. Renewables total 40 percent of the country's installed capacity, which it plans to raise to 52 percent by 2030. Read more

Germany's cabinet increased the amount of money for green investments next year to €58 billion, up 60 percent from 2023. The Climate and Transformation Fund will deploy just under €13 billion on renewable energy subsidies and close to €5 billion on e-mobility charging infrastructure. The highest share will be for buildings, with €19 billion earmarked for subsidizing renovations and new construction. Germany is aiming to reach Net Zero by 2045.

Power demand hit another record high in Texas on Wednesday, marking the second time this week and ninth time this summer that its ongoing heatwave has driven electricity consumption higher. The Electric Reliability Council of Texas (ERCOT), with caters to 90 percent of the state's load, said usage hit a preliminary 83,961 MW, besting the 83,854 MW record set on Monday. ERCOT said it had sufficient resources to meet demand, which energy analysts have mainly attributed to wind and solar capacity.

More than a 20 percent of UK companies who have announced decarbonization targets are set to miss them, according to a report by disclosure platform CDP and consultants Bain & Co that analyzed 1,450 UK companies. The news comes after the UK government recently said it was off course to meet its own decade-end goal to cut emissions by 60 percent from 1990 levels. The report also found that almost 66 percent of corporate emissions in the UK are not under decarbonization targets.