Turkey Unveils 2040 Energy Policy Powered by Electrification
Turkey's Energy Minister Alparslan Bayraktar unveiled the country's 2040 national energy policy on Thursday, which requires $500 billion in energy investments by 2040, including more than $330 billion for electrification goals.Policy built on supply security, emissions reduction.Wind and solar power installed capacity target set at 175 GW by 2040.Plan projects installed power capacity will rise to 281 GW from current 123 GW…
El Nino and record supply are affecting US natgas price this winter
Analysts said that US natural gas will be cheaper than last winter due to a strong El Nino climate pattern, which is expected to curb demand, and the?ample supply of gas, which keeps supplies balanced. Gas prices that are lower during the peak heating season of December to February could help consumers save money on heating and keep electricity prices in check. This would be a relief for them as inflationary pressures continue.
IEA chief: Electrification is the best way to go despite AI investment jitters
The International Energy Agency chief stated on Thursday that the'shift towards electrification' was firmly supported?by capital market despite ongoing challenges with?grid capacity and affordability. When asked about the risks of excessive investment in power infrastructure and concerns regarding artificial intelligence investments being slowed down due to fears of existential risk…
Gambia bans unauthorised protests after unrest caused by power cuts
The police chief in Gambia has announced that no more protests are allowed without permits in the West African country. This follows the use of tear gas by authorities earlier this week to disperse large crowds who had gathered to denounce the prolonged power outages during the hottest months. The protests that lasted for multiple nights showed the…
South Korea's electricity demand is set to rise on the back of AI boom, as nation considers expanding nuclear energy
According to the energy minister, South Korea's demand for 'power' in the future will surge due to plans by Samsung Electronics and SK Hynix of expanding production 'and building new AI data centers'. Kim Sung Whan, Minister of Climate, Energy and Environment, said that the AI-driven power requirements?alone? will increase South Korea's power demand by 25-30 gigawatts.
Malaysian data centers consume more power in the face of high temperatures
Officials said that Malaysia's data centers are using more power as the temperatures rise. This leaves a gap of 9 gigawatts in gas-fired energy capacity for the government to fill by 2032. Siti Saffinah Salleh, CEO of the Energy Commission, said on Tuesday that data centres' share in total power consumption had risen to a new record of 9.3%, up from an average of only 7% in this year.
Norway's Equinor expands U.S. energy business with $940 million stake in gas-fired plants
Equinor, a Norwegian energy company, announced on Monday that it had agreed to purchase a stake in a gas-fired plant located in Pennsylvania. The group is hoping to take advantage of the 'rapidly increasing electricity demand from data centres and other industries. Equinor said it will pay $940m, subject to final adjustments, for 87.71% shares of BlackRock's Global Infrastructure Partners, in the Lackawanna Energy Center.
Equinor Buys $940m Stake in Gas-Fired Power Plant
Norwegian energy group Equinor said on Monday it has agreed to buy a stake in a gas-fired power plant in the U.S. state of Pennsylvania, seeking to benefit from rapidly growing electricity demand from data centres and other industry.Equinor will pay $940 million, subject to final adjustment, for 87.71% of the Class A shares from BlackRock's Global Infrastructure Partners in the Lackawanna Energy Center…
Dominion pushed deeper into the costly power market by Virginia data center boom
Dominion fuel prices in Virginia rose?nearly 90 percent in five years, as the utility became more exposed to volatile wholesale electricity prices due to data center-driven demand. Fuel costs have risen in Virginia, which is the largest data center market in the world. This raises doubts about claims that AI is driving electricity demand and not increasing residential power bills.
Expand Energy, a Natgas producer, beats expectations for the second quarter profit
Expand Energy, the U.S. natural gas producer, beat Wall Street's?estimates of a?second quarter profit? on Tuesday. U.S. producers benefit from the surge in electricity demand for natural gases to power data centres as well as a rise in liquefied gas exports. The company produced an average of?6.9 billion cubic feet per day during the quarter ended in June. This is up from 6.6 bcfepd the previous year.
Russell: The imports of thermal coal from Asia continue to rise, except in India
Asia increased thermal coal imports for the third consecutive month in July as major buyers like China, Japan and South Korea purchased more fuel to meet 'peak summer demand. According to Kpler, commodity analysts, Asia is expected to import about 73.16 millions metric tons of seaborne thermal coal in July. This is up from 70.31 in June, and above the 71.04 in July of last year.
Russell: The imports of thermal coal from Asia continue to rise, except in India
Asia increased thermal coal imports for the third consecutive month in July as major buyers like China, Japan and South Korea purchased more fuel to meet the 'peak summer demand. According to Kpler, commodity analysts, Asia is expected to import about 73.16 millions metric tons of seaborne thermal coal in July. This is up from 70.31 in June, and above the 71.04 in July last year.
NextEra Energy beats second-quarter profit estimates
NextEra Energy beat Wall Street expectations for the second quarter adjusted profit on Friday. This was due to increased demand and strength in its renewables unit. Energy Information Administration (EIA) expects U.S. electricity demand to continue to increase in 2026-2027, after hitting its second consecutive annual record last year. This is due…
Maguire: Wildfires are a threat to the US power sector in multiple ways.
Wildfire season in the American West was seen as a major threat for years. It affected homes, forests, and utilities. As smoke from fires blankets vast swaths across the country, this is also becoming a challenge for the power sector. The U.S. grid has changed. The U.S. grid is changing. Smoke from wildfires interferes with all of these. Smoke is unlikely to derail America’s renewable-energy growth…
India's solar drive idles factories that are unable to break reliance on China
Industry sources claim that Indian solar panel makers are forced to close factories because they have to wait up to 8 months for domestic components to replace Chinese imports. This is due to the government's push to boost domestic manufacturing. Manufacturers and analysts have said that the disruptions caused by rules which came into effect on June 1?threaten thousands jobs and investments of almost $4 billion.
Japan utilities welcome LNG auction quotas citing investment certainty
Japan's utilities welcomed a proposal by the government to set dedicated quotas under its long-term power source auction (LTDA) for new liquefied gas-fired power stations, saying that this would increase investment visibility. Nozomu Muri, Chairman of the Federation of Electric Power Companies of Japan told reporters on Friday that "we view the clear reaffirmation of LNG powered power's importance…
Uniper focuses on data centres as part of a new strategy, and plans EUR5 billion in investment
Uniper's transformation strategy was reaffirmed on Friday. The?German energy company plans to invest around EUR5 billion ($5.72 billion) in renewable energy and flexible power generation by 2030. The company, which Germany saved during Europe's energy crisis in 2022, announced that it would spend more than half its planned investments on flexible electricity generation with an emphasis on Germany.
EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
?U.S. The Energy Information Administration's (EIA) Short-Term Energy Outlook, published on Tuesday, said that the power consumption will continue to rise in 2026-2027 due to data centers with AI and electrification. The EIA projects that the power demand in 2027 will increase from 4,195 billion Kilowatt-hours in 2025, to 4,269 billion in 2026, and 4,399 in 2027.
Chevron to continue securing deals for US data centers
Chevron has been negotiating additional data-center deals in the U.S. including the Midwest, Rockies and Gulf Coast following its two-decade contract to power a Microsoft Data Center in West Texas. Chevron, Exxon Mobil and other oil and gas companies are looking to capitalize on the unprecedented electricity demand created by Big Tech’s AI-driven expansion of data centers.
ContourGlobal, a subsidiary of KKR, enters Britain to build a large battery storage facility
ContourGlobal, an independent power producer, has purchased a large storage battery project in Scotland from New Energy Partnership Limited. This is its first foray on the British energy market. The group, which is owned by the?U.S. The fund KKR is expected to invest hundreds of millions of pounds into the project that it plans to develop in the next two years. ContourGlobal CEO Antonello Camisecra told.