The U.S. Department of Energy said on Friday that projects in Texas and Louisiana will receive over $1 billion in federal subsidies to remove more than 2 million tonnes of carbon emissions, which is an important step in scaling up direct air capture (DAC) technology.

In a recent analysis published on Thursday, it has come to light that approximately two-thirds of European companies lack any revenue that meets the European Union’s (EU) list of climate-friendly activities.

Renewable energy also referred to as clean energy, is generated from naturally replenished sources or processes. It includes sun, wind, geothermal, ocean, hydropower, and bioenergy, which may be used to replace nonrenewable sources like coal, oil, and gas. It is regarded as an essential power source because of the various new and less-expensive methods of capturing and retaining wind and solar energy.

A Memorandum of Understanding (MoU) was signed on June 14 by the Indian Railways (IR) and the autonomous US federal agency, USAID/India.