The World Bank is allocation of energy investments and for energy efficient project has been increased by 300 percent between the financial years of 2007 to 2010. The World Bank has delivered 3.4 billion USD for the renewable energy projects and the contribution towards the fossil fuel project raised nearly 430 percent. In the Institute for Policy Studies the co director of the Sustainable Energy and Economy Network Janet Redman asserted that, the World Bank is delaying to examine the emission of green house gases from their own plants and diverting its discussions. The reports released by the Bank Information Center showed that, the World Bank furnished around 6.3 billion USD for the fossil fuel projects in this financial year and around 4.4 billion from the total sum will be utilized for the installation of a new coal-fired power plant. In South Africa the 4800 MW Medupi Station will release nearly 25 million tons of carbon dioxide per annum till 2050 and the Tata Ultra Mega plant in India will emit the same amount of the carbon dioxide per annum.
Clean Energy and Power Company recently announced that, the company has penned a Letter of Intent to adopt completely the assets of the Pacific Oil Products, the global suppliers of palm oil, algae oil and Jatropha oil. The Clean Energy and Power Company acquired the proprietorship for technology required to extract oil from the oil wells and the management crew formed to enable low cost oil extraction. David Gair, current Chief Technology Officer of the Pacific Oil Products articulated that, the company has redesigned the pattern of the base instrument, designed in Sweden and it will follow their own proprietorship for extracting quality oil. The Pacific Oil has sold plethora of jatropha oil and this has made them as the leading extractor of the jatropha oil in the world.
The first offshore wind energy farm in the United States will be completed soon, till then to reduce the cost of the power system Massachusetts purchased energy from the Cape Wind. The Department of Public Utilities recently approved green signal for power generated from the clean energy to be used for house appliances. Cape Wind project has approved by the federal after a long struggle for past ten years and this project will be permitting installation and operation of nearly 130 wind turbines in the Nantucket Sound. The Cape Wind project is expected to supply pollution free energy to large number of houses and companies in the Massachusetts and this reduces the dependence on other countries for electricity and boosting the fuel diversity.