MUFG Americas CEO: AI data centres will boost renewable energy demand, even under Trump
Mitsubishi UFJ Financial Group, the largest Japanese banking group, has said that the U.S.'s shift to renewable energy will continue under Donald Trump. Kevin Cronin, chief executive officer of MUFG Americas, said in an interview that the anti-renewables rhetoric of President-elect Trump has not led to a change in MUFG Americas' strategy. Cronin stated that…
Romania allocates 1.5 GW of renewable energy projects
The Energy Ministry announced in a Monday statement that Romania had allocated 1.5 gigawatts of renewable energy project funding through an EU-funded contract for difference scheme. The long-awaited low carbon energy support scheme fixes the price of electricity to providers at a level agreed for 15 years. The Ministry selected 10 projects for onshore wind worth 1.09 GW and 11 projects with a total capacity of 432 MW.
Venture Global says it has produced the first LNG at its Plaquemines plant.
Venture Global LNG produced its first LNG (liquefied natural gases) on Friday at its Plaquemines facility in Louisiana. The first U.S. plant to produce super-chilled natural gas in two years, Cheniere Energy Corpus Christi's midscale expansion project has been beaten to the market. Venture Global said that it had built two of its fastest greenfield LNG plants to go from financial approval to first LNG production.
Britain announces plan to encourage the development of clean energy projects
The UK launched on Friday a plan that will make it easier for developers and investors to build clean energy project, which they hope will help them meet their climate targets as well as create jobs. The UK has set a goal to decarbonise the power sector largely by 2030. This will reduce its dependence on gas-fired plants and increase its renewable energy capacity rapidly.
India will mandate the use of solar cells made locally in all clean energy projects by June 2026
From June 2026, Indian clean energy companies will have to use solar photovoltaic modules made from local cells by a list of approved companies. This is a measure to reduce imports from China, the top supplier. India has already required the use of solar cells made in India for government projects. The government intends to increase the non-fossil energy capacity of its country to 500 GW from 156 GW currently.
Iberdrola Gets Portugese Nod for Wind Farm Start
Iberdrola has received a production license from the Portuguese Directorate-General for Energy and Geology of Portugal (DGEG), taking another step towards the construction of the largest wind farm in Portugal.Located in the districts of Vila Real and Braga, in northern Portugal, with a total investment of around €350 million, this project reinforces Iberdrola's commitment to environmental goals…
No Subsidies, No Bids: Denmark Largest Offshore Wind Tender Falls Flat
In the wake of Donald Trump's election as U.S. President, all eyes have been trained on the U.S. Offshore Wind market and future, with his promise to stifle the U.S. Offshore Wind market in favor of oil and gas. But a recent lackluster performance from a leading Scandinavian country suggests the slow down in offshore wind energy projects may be spreading.Denmark's…
Adani allegations bring India's clean-energy conundrum to the forefront
The allegations of bribery against Adani Group's founder Gautam Adani highlight the increasing difficulty that India's renewable energy developers have in finding buyers for their power. Officials say that while India's central governments wants to move away from coal-fired power generation and towards renewable energy sources, state-owned companies in charge of supplying electricity have been slow to strike deals. U.S.
Mooreast Appoints Ellingsen as CEO
Mooreast Holdings Ltd. announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide.Mr Ellingsen will assume the role of CEO at Mooreast on 1 January 2025. He will be taking over from Mr Sim Koon Lam…
Australia proposes tax incentives for critical mineral deposits
The Australian government will introduce legislation on Monday to implement production tax incentive for renewable hydrogen and essential minerals. This could help boost investment in this sector, which can play a key role in energy transformation plans. The government announced that the proposed law would establish a tax incentive of 10% on the relevant processing and refinement costs for 31 essential minerals…
Albanese: Australia and India will boost their cooperation in renewables and defence
Australia and India will work together to increase investment in renewable energies, such as solar manufacturing, batteries, and mineral processing. This was the announcement made by Prime Minister Anthony Albanese during a G20 meeting on the sidelines. Albanese, the Australian Minister for Defence and Maritime Security, said that Australia and India would also like to increase their defence and maritime cooperation.
South Asia's solar power push is facing a land battle
Food and jobs are at risk when cropland and pastures are taken away. By BhaskerTripathi and Md. Modhera’s 6 megawatts (MW) of solar power and battery storage system were built in 2022, despite the opposition of local farmers who had filed a lawsuit in the highest court for the state in 2020 to stop its construction. According to the research group Land Conflict Watch…
Spanish utility Cox priced shares at 10.23 euro in IPO, implying a market cap of $849 mln
The Spanish water and clean energy utility Cox has set its final price at 10.23 euros per share. This implies a market cap of 805 millions euros. The company announced late on Wednesday that the price had been set at the lower end of the range between 10,23 euros and 11,38 euros. According to documents sent to the Spanish stock exchange regulator, the share…
RWE buys back $1.6 billion in shares as the outlook for US offshore wind and hydrogen worsens
RWE, Germany’s largest utility, announced on Tuesday that it would purchase up to 1,5 billion euros ($1.6billion) in shares. The company cited weakening prospects in Europe for hydrogen and offshore wind, in response to Donald Trump’s election win. RWE has also bowed to investor pressure by launching a buyback that will begin in the fourth quarter of this year and last for 18 months.
Reliance Power will challenge the ban of India's clean energy agency in court
Reliance Power, India's largest renewable energy agency, said Thursday it would legally challenge the ban imposed by the agency for three years on participation in clean energy projects. Solar Energy Corporation of India Limited said that on Wednesday it had banned Reliance Power, and its subsidiaries after the state-owned company found that the bank guarantee was fake when scrutinizing a bid.
India's Apollo Green Energy plans a solar module plant and targets an IPO in 2025.
The chief executive of India's Apollo Green Energy said that the company, which is an engineering and construction company, intends to build a 500 Megawatt (MW), solar module plant within two to three years, and to tap into domestic public markets by 2025 for new projects. Sanjay Gupta, the CEO of the company that focuses on renewable energy projects, said…
Linde is optimistic about clean energy projects despite reducing its full-year outlook
Linde, world's biggest industrial gas company, announced on Thursday that it is confident in its clean energy projects, despite reducing its full-year outlook due to a decline in the end markets, including mining, metals, and healthcare. Sanjiv Lamba, CEO of Sanjiv Lamba Technologies said in a conference call that he was "pretty confident" about the 8-10 billion dollars for investments in hydrogen over the next several years.
UK increases windfall taxes on North Sea Oil and Gas Producers
Finance Minister Rachel Reeves said on Wednesday that the British government would increase its windfall tax for North Sea oil-and-gas producers from 35% to 38% and extend it by one year. Reeves, who presented the first budget of the new Labour Government, said that the increase in the windfall tax - also known as the Energy Profits Levy - will come into effect on November 1. The headline tax rate for oil and gas activity is now 78%.
What are the differences between Trump and Harris' energy policies?
Both Donald Trump, a Republican, and Kamala Harrias are Democrats. They both want to increase production while keeping prices low for consumers. The main difference is that Harris wants to favor clean energy technologies that are crucial in fighting climate change. Trump, on the other hand, would roll back green regulations which hinder oil and coal drilling.
Norwegian infrastructure fund Aker to launch 1 billion euros in 2025
The head of the Infrastructure unit at Industry Capital Partners, a Norwegian investment fund for energy transition, backed by Aker ASA industrial group, said that it plans to launch a 1 billion euro ($1.08 billion), inaugural fund in 2019. Christian Rynning Toennesen, the head of ICP Infrastructure in Oslo said that they were working on energy projects onshore.
