nuclear-news

Isle of Man-based renewable energy group’s £1.1m profit

Mike Proffitt is in charge of the day-to-day operation and development of Isle of Man-based Renewable Energy Holdings plc (REH), which was listed on AIM in February 2005. The group’s stated aim is to reduce carbon emissions and greenhouse gases by ‘innovative technologies’ in renewables.
Announcing interim results for the six months ending June 30, 2008, Renewable Energy is reporting a profit before tax of £1.1million, an increase in revenue by 149 per cent to £4.6million and revenue of £2million from the sale of rights to use CETO technology in the southern hemisphere.

A National Electricity Grid For Australia
 The Oil Drum by Neil Howes.  an Associate Professor at the University of Sydney. on September 9, 2008 –

Executive Summary

We are proposing that the Government of Australia facilitates the replacement of 50% of Australia’s base-load coal fired electricity generation by financing the building of a high capacity National Electricity Grid (NEG) by 2020. This will interconnect high value renewable energy sites for wind, solar and geothermal energy to enhanced hydro electricity pumped storage capacity enabling these low CO2e energy sources to provide base-load power to major retail and industry consumers…………………………………………………..

Summary

Australia needs to reduce its reliance on coal-fired electricity before 2020, by replacing a significant portion of the coal-fired base-load generation with renewable energy sources. While Australia has excellent wind, solar and geothermal resources they are dispersed and long distances from present electricity consumption. A truly Nation Electricity Grid connecting the CST resources and industry of the Pilbara region of WA, and the wind resources of the SW region of WA, with the SE and NE of Australia and Tasmania will allow these renewable energy resources to be developed to reliably provide 40% of Australia electricity production by 2020, reduce CO2e, and provide additional options to CCS to further reduce carbon dioxide pollution by >50% in 2050.

Renewable energy ‘is boom sector’
RTE News 9 September 2008  -Developing renewable energy technology constitutes the single greatest business opportunity for the Irish economy, the Minister for the Environment John Gormley has said.He said the global ‘clean tech’ sector is now worth $284bn and that figure is projected to rise to €1.3trillion in just a decade’s time.The minister said it would be an enormous lost opportunity if the ‘green tech’ solutions of the future were left to other countries to develop.