MDG’s Global Monitoring Report 2008

A new World Bank-IMF report warns that most countries will fall short on the Millennium Development Goals (MDGs), a set of eight globally agreed development goals with a due date of 2015.

Though much of the world is set to cut extreme poverty in half by then, prospects are gravest for the goals of reducing child and maternal mortality. Serious shortfalls also likely in primary school completion, nutrition, and sanitation goals.

The report also stresses the link between environment and development and calls for urgent action on climate change. To build on hard-won gains, developing countries need support to address the links between growth, development and environmental sustainability.

“At the halfway mark to the Millennium Development Goals (MDGs) deadline of 2015, the world has not made the necessary progress, but success is still possible given certain conditions”, said World Bank economist Zia Qureshi, lead author of this year’s Global Monitoring Report. “While much of the world is on track to halve extreme poverty by the deadline, prospects are much graver for the goals of reducing child and maternal mortality, and serious shortfalls are also expected in education, nutrition, and sanitation. On current trends, Sub-Saharan Africa could miss all the MDGs, despite impressive growth performance of recent years”
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Tidal power fuels Britain’s National Grid

Tidal power has been harnessed to generate electricity for Britain’s National Grid for the first time, it has been announced.

The move has been hailed as a milestone in the development of marine energy, which could provide up to a fifth of Britain’s electricity needs.

It came when a single turbine on the Atlantic seabed off Orkney was connected to the National Grid on Monday morning. The area off the north of Scotland is regarded as potentially one of the best in the world for tidal power and has been described as the “Saudi Arabia of marine energy”.

Although only a small amount of electricity was initially generated as part of a trial, output will be stepped up over the next few weeks to provide enough power for around 150 homes.

Jim Mather, Scotland’s energy minister, hailed it as a “massive step forward”.

“This is the first time that homes in Britain will be powered using the energy of the tides,” he said. “Scotland has unrivalled potential to generate clean, green energy from our seas. Marine power lies at the heart of our ambitions to develop a vibrant renewables sector, creating jobs and boosting economic growth while tackling climate change.”

The turbine was installed in 2006 by OpenHydro, an Irish company, at the European Marine Energy Centre’s (EMEC) test site at the Fall of Warness, off the island of Eday.

EMEC was set up using public money to help develop technology from the prototype stage through to the commercial market.

It has already been involved in generating wave power for the National Grid.

Neil Kermode, EMEC’s managing director, said: “This is a very exciting project. OpenHydro’s vision is to deploy farms of tidal turbines under the world’s oceans and we are delighted that EMEC has been able to support the delivery of this key milestone.

“The wave and tidal resource around Scotland’s coasts is so significant that many other developers across the world are striving to develop devices capable of harnessing the force of our tides and waves.”

Although tide power is far more expensive to develop than other options such as wind and solar energy, it is far more reliable. Supporters claim it is taking the UK to the threshold of a new energy age.

Later this year another tide turbine – SeaGen – will be installed near the mouth of Strangford Lough, Northern Ireland, generating enough electricity to power more than 1,000 homes.

Meanwhile a wave energy power station, developed by an Edinburgh firm, is to be deployed in the Atlantic Ocean off the Portuguese coast.

Other wave turbines are planned for next year for waters near Cornwall and the Orkneys and a study is currently being carried out into constructing a barrage to harness the power of the Severn.

Dr Mark Williamson, director of innovations for the Carbon Trust, said: “In the UK, marine energy has the potential to deliver up to 20 per cent of our electricity need. Centres such as EMEC play a crucial role in the development of wave and tidal energy technology. The Carbon Trust continues to support such projects, reinforcing the UK’s leading position in the marine renewable energy field.”
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Geothermal energy gains momentum in India and Nepal

With its expertise in renewable energy, Nordic bank Glitnir has teamed up with Bhilwara Group to develop geothermal energy projects in India and Nepal.Drawing on its experience in financing and advising on geothermal energy projects around the world, Glitnir has secured a 60:40 partnership with Indian energy development company LNJ Bhilwara Group.

Glitnir will be responsible for raising capital and supplying specialist consultants for projects to build geothermal power plants in India and Nepal. LNJ Bhilwara will bring its large-scale infrastructure and local experience to its 60 per cent share of the partnership.

Geothermal energy harnesses heat generated by the earth and is considered virtually inexhaustible, making it a sustainable and clean energy source. Unlike wind and solar installations, geothermal energy can run 24 hours a day, providing a higher and more reliable power yield.

India has planned for $475 billion of energy investments in the next five years in anticipation of the large energy demands created by India’s fast-growing economy.

“India is a very exciting market for Glitnir, particularly in the seafood and energy field,” says Bala Kamallakharan, Executive Director of Strategic Growth at Glitnir. “Given the projected growth of energy demand in India, the country needs to utilise all sources of energy possible, particularly renewable and green sources of energy like geothermal.”

“By establishing an office in India, Glitnir bank will also be playing a key role in supporting the seafood and offshore service vessels industry and utilising the vast service industry in India to further improve the efficiency of Glitnir operations worldwide” he added.

Glitnir focuses on geothermal energy as one of three global market niches (the other two are the seafood and offshore supply industries). The investment and corporate bank has formed teams of specialist bankers which operate in 11 countries around the world including China, Scandinavia, the US and the UK.
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Geothermal Energy

In a small town outside of Munich, a major investment in a pioneering new type of geothermal energy looks like it may pay off sooner than expected.

With oil prices on the rise, Unterhaching’s plant could be a model for others worldwide.

The geothermal energy plant in Unterhaching, Bavaria, is Germany’s biggest and most modern. Beginning in mid-June — one year later than planned — the plant will begin supplying power from deep within the Earth’s crust to the German energy network.

The plant is only the second in the world to make use of the so-called Kalina system, which uses a combination of water and ammonia to maximize the amount of power generated by the massive turbines. “This is the most effective way to get electricity out of geothermal energy,” says Reinhard Galbas, the plant’s technical manager.
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