Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade. In 2024, the IEA reported that renewable power capacity increased by 700 gigawatts.
RPT-PowerChina Unit Sues Laos Utility for $555 Million
A review of an arbitration document shows that Nam Ou Power, part of the state-owned Power Construction Corp of China has sued Laos utility Electricite du Laos for $555m in unpaid hydropower dues. According to a source with knowledge of the case, EdL has not yet responded to the filing. The source also stated that this was the first time an entity run by the Chinese government had filed a claim against a Laos-owned firm. As the case is private, it was not possible to identify the person.
PowerChina Unit Sues Laos Utility for $555 Million
A review of an arbitration document shows that Nam Ou Power, part of the state-owned Power Construction Corp of China has sued Laos utility Electricite du Laos for $555m in unpaid hydropower dues. According to a source with knowledge of the case, EdL has not yet responded to the filing. The source also stated that this was the first time an entity run by the Chinese government had filed a claim against a Laos-run company. As the case is private, it was not possible to identify the person.
The massive Simandou iron ore mine could end Australia's golden age of iron ore, or it can start a new one. Russell
It is overused to the point of being meaningless. But the Simandou mine, located in Guinea, West Africa is a game changer. It is expected that the full 120 million tons of cargo per year capacity will be reached fairly quickly. The four Simandou blocks are impressive for their size and infrastructure challenges. They boast a 620-kilometre rail line (384-mile) as well as a new port that has dedicated vessels to transship bulk carriers offshore. Simandou, however, is not just a technical marvel.
The massive Simandou iron ore mine could end Australia's golden age of iron ore, or it can start a new one. Russell
It is overused to the point of being meaningless. But the Simandou mine, located in Guinea, West Africa is going to change the iron ore seaborne market. It is expected that the full 120 million tons of cargo per year capacity will be reached fairly quickly. The four Simandou blocks are impressive for their size and infrastructure challenges. They boast a 620-kilometre rail line (384-mile) as well as a new port that has dedicated vessels to transship bulk carriers offshore.
Alstom's 3rd-quarter sales in France top the forecasts for services growth
Alstom, a French train manufacturer, reported Tuesday that its third-quarter sales were higher than expected. This was due to double-digit growth in revenue for the divisions of systems and services. Alstom, a manufacturer of trains and signalling for urban and regional railway networks, has reported sales of 4,67 billion euros (4,86 billion dollars) in the third quarter ended Dec. 31. Visible Alpha consensus said that analysts had expected an average of 4.49 billion euro.
Sweden's North frets about financial risks as the green boom stumbles
Sweden's local governments, frightened by Northvolt's struggle for survival and its potential impact on taxpayers, have asked the central government to increase financial support for Sweden's transition towards green industry. Last month, Europe's leading electric vehicle battery manufacturer filed for Chapter 11 bankruptcy in the United States with $5.8 billion of debts. The EU's energy transformation is failing…
French and Benelux stocks - Factors to watch November 26
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Google has proposed further changes to its European Search Results to comply with the EU Digital Markets Act. Alstom, a French manufacturer of rail infrastructures, announced on Monday that it had renewed its contract with the Denver International Airport to provide automated people mover systems for 7 years at a cost of 218 million Euros ($228,4 million).
France's Alstom exceeds cash expectations due to strong orders and cost control
Alstom, the French train manufacturer, beat expectations on Wednesday for its cash position half-year. This was due to increased volumes and cost savings initiatives. Alstom, a manufacturer of trains and signalling for urban and regional railway networks, reported an outflow in cash of 138 millions euros ($146million). According to a consensus compiled by the company, analysts had anticipated a cash outflow of 354 million euros. In May, the group revealed a plan for debt reduction and financial reform.
China increases coal mining to provide winter power: Kemp
China's coal production has reached record levels, and its imports have also risen. However, the surge in power generated by solar farms and hydro dams has reduced thermal generation. The reliability of electricity is dependent on coal-fired power generation, especially during the winter when solar and hydro output are lower and the system relies more heavily on fossil fuel. Even though wind and solar power have been deployed in record numbers…
China increases coal mining to provide winter power: Kemp
China's coal production has reached record levels, and its imports have also risen. However, the surge in power generated by solar farms and hydro dams has reduced thermal generation. The reliability of electricity is dependent on coal-fired power generation, especially during the winter when solar and hydro output are lower and the system relies more heavily on fossil fuels. Even though wind and solar power have been deployed in record numbers…
Russia claims it has disrupted Ukraine’s power grid and weapons supplies with a massive strike
Russia announced on Monday that it had launched a massive attack on Ukraine, which it claimed had disrupted electricity supplies and rail transport of weapons and ammunition to front-line positions. Ukrainian officials claimed earlier that Russia launched over 100 missiles, and approximately 100 drones of attack at Ukraine during morning rush hour. And striking energy plants nationwide. In a press release, the Russian Defence Ministry stated that missiles were fired from air and sea.
Saudi firm plans a hydrogen-powered skyscraper for Egypt's new Capital
Saudi-controlled firm plans to start construction on 50-storey, $1 billion office tower in Egypt's capital early next year. The building will be powered by hydrogen and is the first of its type. Magnom Properties is a Saudi industrial group Rawabi Holding subsidiary. They bet that the sophisticated design and price tag will attract international clients to the new capital. A city of over 6 million people, being built in the desert east from Cairo, the new capital has been designed with a high-end look.
Molten Salt Reactors: Maritime’s Nuclear Option
A race is being run by nuclear scientists and ship designers. The prize? “Decarbonization’s” holy grail — believed to be a “small” thorium-fueled, molten-salt rector’s unlimited power to propel sea trade. At the same time, a recently revived discussion among leading marine-nuclear thinkers revolves now around how to put an ultra-modern, as-yet non-existent marine reactor aboard a modern commercial vessel.
Floating Power Plants: Is Nuclear the Key in the Net-zero Energy Transition?
Floating nuclear power plants (FNPPs) may not immediately spring to mind as providing a solution to several of today’s key global challenges – but FNPP development is emerging as a means of decentralized stand-alone production of cost competitive hydrogen-based fuels and clean electricity and water, according to a new report by Intelatus Global Partners.The commercial case for deployment of FNPPs featuring…
Aberdeen Selects BP as Hydrogen Hub Partner
Aberdeen City Council on Monday announced BP as its preferred bidder for a commercial partnership for hydrogen hub development "which will accelerate the city’s ambitions to become a world-class hydrogen hub."Following a tender process that began in June, the Aberdeen Hydrogen Hub concept will enable the continued development of a hydrogen economy in the city, the Council said.A key part of the program will involve the creation of Scotland’s first scalable green hydrogen production facility.
Offshore Wind: Decisions Needed Sooner, not Later
On September 26, the State University of New York Maritime College hosted a conference on the emerging east coast offshore wind industry. “Offshore Wind Power, Planning for America’s Ocean Energy” focused on four fundamental topics:• East Coast Wind Farm Overview – Status of the Industry.• Jobs and Supply Chain Technical Working Group.• Wind Farm Port Development.• Offshore Wind Maritime Operations.In some ways, actually clocking in for a day’s work on an offshore wind turbine is tantalizingly close.
Airswift Eyes APAC Growth
Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, announced two senior hires to build upon recent successes in the Asia Pacific (APAC) region. Fueled by the region’s energy and infrastructure markets, the appointments follow 20% year-on-year growth for the company.Based in Brisbane, Ryan Carroll has been appointed as Regional Director, Australia & New Zealand, where he will be responsible for all in-country operations.
More 'Green' Power Needed To Meet Paris 2030 Target
According to DNV GL’s latest energy report ‘Energy Transition Outlook: Power Supply and Use’, eight times more wind and solar power is needed by 2030 to help meet the Paris Agreement on climate change’s target. This transition will require more than ten times power generated by the solar means and five times the wind power currently being generated in combination with other technology measures to limit global warming to well below 2 degrees and meet the targets of the Paris Agreement.
German Trains to Run on Offshore Wind
German Rail (Deutsche Bahn – DB) has closed Germany’s first power purchase agreement (PPA) to buy electricity from an offshore wind farm.German Rail has signed a five-year deal starting in 2024 to buy the output of 25MW, or 8%, of the 295MW Nordsee Ost wind farm in the North Sea from utility Innogy and RWE Supply & Trading.The contract will run for five years, beginning in 2024. The supplied volume comprises 25 megawatts, which is the equivalent of four wind turbines.
