ReNew signs pact to build solar project of 150 MW in India with Google
India's ReNew Energy Global announced on Tuesday that it had signed a long-term deal with Alphabet to develop a 150-megawatt project in the western Indian state of Rajasthan. The agreement is in line Google's aim to be entirely carbon-free by 2030. India also wants to double the capacity of its non-fossil fuel power generation to 500 gigawatts before the end decade. Other?U.S. Other?U.S.
Sonnedix secures contracts in Italy for 805 MW solar power
Sonnedix, a renewable energy company backed by JP Morgan and sponsored by three Italian government schemes, has been awarded contracts to install 805 megawatts in solar capacity under three different government schemes. Solar power, considered easier to develop than wind projects because of Italy's geographic characteristics, is playing a key role in the energy transformation in Italy. The country has become one of Europe's leading producers of clean energy.
Kyivstar, Ukraine's largest mobile network operator, purchases solar power plant for increased resilience
Kyivstar, Ukraine's mobile operator, announced on Tuesday that it has?acquired? solar power company Sunvin 11?as it steps up energy investments to keep its network running amid Russian attacks against the country's grid. Kyivstar is Ukraine's largest mobile operator, which offers digital?healthcare, entertainment and other services. It has added backup?capacity as well as alternative…
Prices fall despite short-term bullish factors
The European spot electricity prices fell on Tuesday despite lower renewables and nuclear supplies and an increase in consumption?in France - as demand decreased across the region. LSEG analysis identified increasing thermal power as a market factor, which?overall?worked to bring down levels in Germany & France. LSEG data shows that the French baseload day-ahead was priced at 95 euros ($99.88 per megawatt hour) at 0940 GMT. This is 4% lower than at the previous close.
Intercontinental Exchange sets Dutch gas trading record and aims for longer trading hours
Intercontinental Exchange announced on Monday that it would be extending trading hours and achieving a record trading volume for benchmark European Gas Contracts in 2025. ICE said that it traded a record 103 million contracts in futures and option products for the Dutch Title Transfer Facility in 2025. This was the first time the company had exceeded 100 million contracts. The company also set a record in the TTF 1st Line Financial Futures and JKM LNG futures (Platts)…
Prices for gas in Europe are little changed, as the cooler weather increases demand
Dutch and British gas traded in a narrow band on Monday morning after rising the previous two sessions. Cooler weather supported higher gas demand, and a sharp fall in wind speeds boosted gas demand for electricity generation. But stable supply limited gains. Data compiled by LSEG revealed that the benchmark Dutch front-month contract was down by 0.04 euros at 27,46 euros per megawatt (MWh) or $9.45/mmBtu by 0958 GMT.
French spot increases on weakened wind supply
The French spot electricity price on Tuesday increased as the wind generation output was expected to decline while demand was expected to increase due cooler temperatures. The French day-ahead 'baseload power' price at 0912 GMT was 89 euros ($104.42), up 20.4% on the Friday closing price for Monday delivery. After the Friday price for delivery on Monday closed at 87.40 Euros/MWh, the equivalent German price has not been traded.
In November, China's fossil fuelled power generation fell 4.2% on an annual basis.
Statistics Bureau data released on Monday showed that China's fossil fuelled power generation dropped 4.2% in November compared to last year. This reversed a 7.3% increase in October, when the power?generation reached its highest level in decades. This means that China's fossil fuelled power generation could be pushed lower until December when there is an increase in demand. It would be the first annual decline of this kind in a decade.
Nigeria grants permits for gas-flaring projects, aiming at $2 billion investment and a 3 GW potential
Nigeria has granted permits to 28 companies as part of a program that aims at ending routine gas flaring in order to reduce carbon emissions and to use some gas to generate electricity. Officials of the Nigerian Gas Flare Commercialisation Programme said that it was a significant step towards reducing gas waste and monetizing it. Gas flaring is controlled combustion of natural gas released during oil extraction.
Prices to rise on Monday due to wind power
European electricity prices will likely fall dramatically on Monday as wind power production is expected to increase in Germany and other parts of the region. LSEG data revealed that German -and French Monday baseload electricity contracts were not traded by?0859 GMT Friday. LSEG data shows that German wind power production is expected to increase by 12.3 gigawatts on Monday to 21.1 GW. French wind power is also projected to grow from 6.7 GW up to 9.7 GW.
Italy awards solar power in the first "Not made in China" auction
In its first auction, Italy allocated more than 1.1 gigawatts to 88 solar projects that were built without any equipment made in China. The average price per megawatt-hour was 66.38 euro. According to the data of Italy's electricity service agency (GSE), this tariff is 17 percent higher than the average price in a renewable auction held earlier this year, which had no restrictions on equipment origin.
Spot prices rise on lower wind output
The European power prices for the day ahead of Friday increased on Thursday, as it is expected that a decline in wind power supply will have a "bullish" effect. LSEG analyst Xiulan he said that the signal for Germany is bullish based on a significant fall in wind supply. Imports are expected to continue throughout the day. LSEG data show that the German day-ahead contracts rose 25.9% at 0939 GMT to 117.05 Euros ($136.87 per megawatt hour).
Romania extends OMV Petrom Permits; Onshore royalty tax will jump
The coalition government of Romania announced on Wednesday that it had extended exploration and production licenses for energy group OMV "Petrom" (and agreed to increase its onshore royalties by approximately 40%). OMV Petrom is a majority-owned company by Austrian OMV. It supplies a third of Romanian gas, fuels, and electricity. OMV Petrom, in partnership with the state-owned Romgaz, is developing the deepwater project Neptun Deep, located in the Black Sea.
Kyiv reports that Russia has hit the gas transport system of Ukraine's Odesa Region.
A senior Ukrainian official reported on Wednesday that Russian drones had 'hit the gas transport system' in Ukraine’s southern Odesa Region. This area contains several pipelines bringing U.S. Liquefied Natural Gas to Ukraine from Greece. Mykola Kolysnyk, the deputy minister of energy, refused to say what had happened. The Ukrainian gas transit operator reported that planned volumes for the Transbalkan route…
Prices rise dramatically on lower wind volume
The European spot electricity prices rose on Wednesday due to forecasts of lower wind power generation, which overrode?effects from slightly higher solar power and nuclear power output. In a research note for the day ahead, LSEG analyst Xiulan said that "the signal?is bullish" for Germany. He added that France is also affected by this wind downturn. According to LSEG data, the price…
EUROPE GAS - European prices trade in narrow range due to strong supply and demand pickup
Dutch and British gas prices rose on Wednesday morning, but remained confined to a small range. This was due to the strong supply of liquefied?gases (LNG), which offset an increase in demand due to a cooler weather forecast. LSEG data shows that the benchmark Dutch front-month contract was 27.06 euros per Megawatt Hour (MWh) or $9.24/mmBtu at 0854 GMT. This is a decrease of 0.43 euros. The Dutch day-ahead contract eased by 0.52 euros, to 26.83 Euro/MWh.
GE Vernova is expecting 80 gigawatts in gas turbine contracts before the end of the year
GE Vernova, a manufacturer of power generation equipment, said that it expects to sign 80 gigawatts in combined-cycle gas?contracts before the end of this year - as electricity demand from Big Tech data 'centers - ramps up. The demand for natural gas-powered?turbines has risen as U.S. electricity demand is at record levels due to the proliferation energy-intensive data centres supporting artificial intelligence initiatives.
Teck Resources shareholders approve merger With Anglo American
Shareholders in the Canadian miner Teck Resources voted on Tuesday for the merger with Anglo American. This allows both companies to proceed to the next step of seeking approvals from regulators around the world. Teck and Anglo American announced their merger in September in a $53 billion all-stock deal, creating the fifth largest copper miner on the planet. Anglo-Teck would have its headquarters in Vancouver, Canada and be listed on the London Stock Exchange.
The decision on the French energy planning bill is expected to be made by Christmas
The French energy ministry announced on Tuesday that the country will take a final decision on the "delayed multiannual planning law" (PPE). The 'PPE' is a 10-year plan that outlines the country’s goals on everything from renewable and nuclear energy to climate change. However, political fights over renewable energy frameworks have caused long delays in its publication. The ministry…
EIA: US power consumption will reach new highs by 2025 and 26.
Energy Information Administration's short-term energy forecast on Tuesday said that U.S. electricity consumption would reach record levels in 2025 and in 2026. EIA predicted that power demand would rise from 4,110 billion kWh to 4,199 billion in 2025 and 4,267 billion in 2026. Demand is increasing due to the use of electricity by homes and businesses and data centers dedicated for artificial intelligence and cryptocurrency.