UK announces plans to reform subsidy schemes in order to accelerate green energy projects
The British Government on Friday announced plans to reform its flagship Contracts for Difference scheme (CfD), which will remove planning obstacles and accelerate green energy projects in particular offshore wind farms. The Department for Energy Security and Net Zero, (DESNZ), has announced that it will relax eligibility criteria for planning consent for offshore fixed-bottom wind and extend the CfD contract beyond its current 15 year term.
The EPA chief wants to recover $20 billion in climate funding
He said that the head of the U.S. Environmental Protection Agency wants to terminate contracts signed by the previous administration for the distribution of $20 billion in grant funds to fund clean energy projects and transportation in disadvantaged areas. In a message on X, EPA Administrator Lee Zeldin stated that he would ask the Inspector-General, Congress…
Sources say that three DOGE members have raised concerns about access to the US Energy Department.
Two sources confirmed on Friday that members of Elon Musk’s Department of Government Efficiency are now working at the U.S. Energy Department, where officials fear they may have access to personal files and information regarding federal grant disbursements. U.S. Energy Sec. Wright stated that the DOGE members did not have security clearances, and they were not looking into nuclear weapons secrets.
Potentia Energy purchases major Australian renewable energy assets
Potentia Energy is a joint venture of Italy's Enel and Japan's INPEX Corp. It announced Thursday that it will buy control stakes in renewable energy projects worth 1 gigawatt in Australia. This investment comes from investors in private equity funds and superannuation funds. Potentia stated that the acquisition included 700 megawatts in wind and solar assets and 430 Megawatts in late-stage projects…
Orsted cuts 2030 investment plan by 25%
Orsted, a Danish renewable energy company, announced on Wednesday that it had decided to reduce its 2030 investment plan by 25% as the offshore industry struggles with rising costs and issues in the supply chain. The company will invest between 210 billion and 230 billion Danish Crowns ($29.32 to $32.12 billion), down from the previous target of around 270 billion Danish Crowns.
Clean energy companies pressure US lawmakers to protect subsides
On Wednesday, U.S. clean energy companies will be heading to Capitol Hill to urge Republican legislators not to eliminate lucrative tax credits that are contained in the landmark climate change legislation of former president Joe Biden. Members of Congress of both parties are being met by hundreds of representatives of firms from the solar, wind, and other renewable energy sectors to promote their role in creating employment and investment…
Senators introduce resolution to repeal Biden methane fees rule
The U.S. Senate Republicans introduced a resolution on Tuesday to overturn Biden's administration's proposed methane emission fee, which was one of the last measures taken by the former Environmental Protection Agency to force oil and gas companies to reduce emissions of this powerful greenhouse gas. The resolution, introduced by Republican Senators John…
Sources say that RPT-Encino owner is considering a $7 billion sale and IPO.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration, which has outlined an economic…
Sources: Encino's owner is considering a $7 billion sale and the IPO of an energy producer.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration, which has outlined an economic…
Engie continues to see a strong US demand for renewables
Edouard Neviaski, executive vice president of French power company Engie, said that the U.S. is still a major market for the company in terms of renewable energy projects. The U.S. president Donald Trump ordered a stop to spending on the Inflation Reduction Act and Infrastructure Investment and Jobs Act. These climate and infrastructure laws were signed into law in 2009 by his predecessor Joe Biden.
Norway's wealth funds continues to invest in renewables, despite the market downturn
A senior fund official stated on Thursday that Norway's $1.8 billion wealth fund, which is the largest in the world, will continue to invest in renewable assets, despite recent market downturns. The fund will also seek out opportunities both in the public and private markets. In 2024, renewable energy assets will have underperformed the market significantly.
Italian government appeals Sardinia's law restricting green projects
The Italian government filed a complaint against a law that was passed by the regional government of Sardinia in December, which placed strict limits on the development and implementation of renewable energy projects on the island. The cabinet announced the appeal late on Tuesday, and it is the latest in a tug of war between the central government, and Sardinia, over the development of green energy.
Japan's JERA plans on expanding US LNG purchases in order to diversify the energy supply
JERA, Japan's largest LNG buyer, is planning to increase its purchases from the United States in order to diversify their supply and meet the demand growth spurred on by data centres and AI. U.S. president Donald Trump promised to unleash the U.S. industry of energy to boost production and threatened the EU if it did not purchase more gas. This could mean that JERA would have to compete against other buyers to get more U.S. natural gas.
President Mozambique says that the country is not interested in reviewing terms of LNG projects.
Mozambique's new president stated on Friday that it is not interested in reviewing contract terms with energy giants such as TotalEnergies or ExxonMobil, who plan multi-billion dollar liquefied gas projects for the country. Daniel Chapo, the leader of the long-ruling Frelimo Party, took office on Tuesday after months of protests by opposition groups against his disputed electoral victory.
Trump's nominee for Interior Department says that boosting energy is key to US security
Doug Burgum, Donald Trump's nominee to lead the Interior Department said on Thursday that he would vigorously pursue President-elect Trump's goals to maximize energy production from U.S. Public Lands and Waters, calling it a key to national security. Burgum's remarks to lawmakers at his nomination hearing indicate a sharp change in policy. For years, President…
Trump's Energy Department pick calls for increased LNG and nuclear energy
Chris Wright, the nominee of Donald Trump to lead the U.S. Energy Department told U.S. Senators during his confirmation hearing that his top priority was expanding domestic energy production, including liquefied gas and nuclear power. Wright, 60 believes that fossil fuels will end world poverty and is a bigger problem than the "distant threat" of climate change…
Trump's Energy Department pick calls for more LNG and Nuclear Power
Chris Wright, the nominee of Donald Trump to lead the U.S. Energy Department will tell U.S. Senators during his confirmation hearing Wednesday that his top priority is increasing domestic energy production, including liquefied gas and nuclear energy. Wright, 59 years old, believes that fossil fuels will end world poverty. This is a bigger problem than the "distant threat" of climate change…
Russia offers crude oil and LNG to Vietnam
The two countries announced on Wednesday that Russia was willing to assist Vietnam in developing its nuclear energy sector, and supply it with crude oil as well as LNG. Vietnam and Russia have also agreed to continue facilitating oil and gas projects in each other's continental shelves. This was revealed by a joint announcement made during the visit of Russian Prime Minister Mikhail Mishustin to Hanoi.
Dallas Fed: US oil executives will expect quicker permits under Trump
According to a Federal Reserve Bank of Dallas study released on Thursday, U.S. Energy executives expect quicker permitting times for drilling federal lands in the Trump administration. According to a survey conducted in December of 134 energy companies in Texas, Louisiana, and New Mexico, the overall outlook improved, activity levels increased, and uncertainty decreased in the fourth quarter of 2024.
Brazil president signs law authorizing offshore wind development
A statement released late Friday said that Brazilian President Luiz inacio Lula da Silveira had signed into law the bill authorizing offshore wind farms. The move was made to improve the energy security of the country and spur a wave investment. In a statement, it was stated that the new law provides incentives for the development offshore energy projects within Brazilian territorial waters.
