The Local: Crisis Talks at Abengoa as Firm Teeters on Brink of Bankruptcy
Various bank creditors will meet KPMG on Monday to discuss restructuring the company's debt just days after the CEO resigned.
Santiago Seage resigned on Friday after it emerged that the Spanish renewable energy giant was close to bankruptcy, as concerns rise over the fate of a firm that employs close to 29,000 people.
The company announced Wednesday that a deal with Spanish engineering group Gestamp -- which had been due to inject much-needed cash into the firm -- had fallen through, leaving it with a mountain of debt and the threat of becoming Spain's biggest-ever corporate failure.
Guardian: India Unveils Global Solar Alliance at Climate Summit
India’s prime minister has launched an internationalsolaralliance of over 120 countries with the French president, François Hollande, at the Paris COP21 climate summit.
Narendra Modi told a press conference that as fossil fuels put the planet in peril, hopes for future prosperity in the developing world now rest on bold initiatives.
“Solar technology is evolving, costs are coming down, and grid connectivity is improving,” he said. “The dream of universal access to clean energy is becoming more real. This will be the foundation of the new economy of the new century.”
Los Angeles Times: Why Rooftop Solar Advocates Are Upset About California's Clean Energy Law
California's aggressive push to increase renewable energy production comes with a catch for people with solar panels on the roof: You don't count.
If a home or business has a rooftop solar system, most of the wattage isn't included in the ambitious requirement to generate half of the state's electricity from renewable sources such as solar and wind by 2030, part of legislation signed in October by Gov. Jerry Brown.
That means rooftop solar owners are missing out on a potentially lucrative subsidy that is paid to utilities and developers of big power projects.
Politico: Why the Paris Climate Deal Is Meaningless
Negotiators from around the world gather in Paris this week to finalize an international climate change agreement, capping a years-long process on which hopes have been riding for global action to limit greenhouse-gas emissions. When those demanding U.S. action speak of the need to show “leadership” and foster international progress, they speak of building momentum toward Paris.
But the more seriously you take the need to reduce greenhouse-gas emissions, the angrier you should be about the plan for Paris. With so much political capital and so many legacies staked to achieving an “agreement” -- any agreement -- negotiators have opted to pursue one worth less than…well, certainly less than the cost of a two-week summit in a glamorous European capital.
Scientific American: An Interactive Timeline of Over 20 Years of Climate Talks
Almost 25 years ago, United Nations delegates started cooking an international treaty to stabilize greenhouse gas emissions at a level that avoids dangerous climate change.
They began with a framework -- the United Nations Framework Convention on Climate Change, or UNFCCC -- that set no mandatory limits, carried no enforcement provisions and is non-binding.
Now the kitchen is primed for the next agreement, which maps cuts and financing required for 2020 and beyond. It might emerge in Paris in December. Here's how we got there. Just don't forget to heat the oven from 350 ppm to 400.