EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
The Energy Information Administration's Short-Term Energy Outlook released on Tuesday said that the U.S. electricity consumption will continue to rise in 2026-2027 due to data centers with AI and electrification. EIA predicted that power demand would rise from 4,195 billion kilowatt hours (kWh) at a record in 2025, to 4,271 kWh?in?2026, and 4,397 kWh in '2027. The demand is soaring in part due to data centers that are dedicated to artificial intelligence, cryptocurrency and homes and businesses using more electricity. The agency stated that the increase in electricity demand is led by the commercial sector.
Norway Parliament vote on subsidy review casts doubts on floating wind project
The Norwegian parliament ordered the government on Tuesday to review the planned subsidy it had given for the country's first commercial floating offshore windfarm, raising fears of a "full stop" in development and a "wider impact" on energy transition projects. The Progress Party, Christian People's Party and the extreme left Red Party all supported a proposal from the opposition Conservative Party to examine the financial implications of a subsidy for floating winds worth 35 billion Norwegian crowns (3,70 billion dollars).
Ormat completes the industry's largest design for geothermal power plants
The U.S. renewable energy company Ormat Technologies has developed a design for a geothermal plant that is 'the largest in the industry. It can produce '100 megawatts from the heat of the earth, according to the company. Ormat CEO Doron Blchar said that the Ormega100 design would double its electrical output compared to the current model. Ormat, a world-leading geothermal company, is testing advanced geothermal technology to power the unit. According to data from the federal government, geothermal power has been produced in the U.S. as far back as the mid-1900s. However, it only accounts for less than 1%?of the country's electricity.
Brazil's Raizen secures creditor support for $12.5 billion debt deal
Brazil's embattled Sugar and ethanol Producer?Raizen RAIZ4.SA said that it had secured enough backing from a number of?creditors, bondholders and other stakeholders to proceed with a restructuring out-of court totaling a?approximately?65 billion reais (12.57 billion dollars),?the biggest recorded restructurement in the country. In a statement issued late Friday night, the joint venture company between Shell (SHEL.L), an oil major, and Brazil's Cosan, a Brazilian firm, said that creditors who held more than 75% the unsecured debt covered by the restructuring agreement had signed on to the plan. This meant they met the legal threshold.
China's major solar companies are focusing on batteries to boost panel sales as they falter
China's largest solar panel manufacturers are increasing exports of higher-margin batteries to boost revenues as the growth in PV sales slows. They bet on growing global demand for renewable energy storage, to reduce reliance on fossil fuels. Executives expect global demand to drop in 2026 due to weaker domestic installations, slower exports and record low prices. Company executives said that this has prompted players such as JinkoSolar and JA Solar to expand into battery storage. JinkoSolar will nearly triple its capacity to manufacture batteries from 5 gigawatt hours (GWh) up to 13-14 GWh before the end of the year.
Experts say that green jobs cannot solve South African unemployment.
According to the most recent government statistics, nearly one in three South Africans is unemployed. Experts say that the true level of unemployment is likely to be around 10% higher. They say that youth unemployment is about 60%. As part of the Just Energy Transition Investment plan, South Africa has phased out only one coal-fired plant, Komati, in Mpumalanga Province. This closure resulted in the loss of thousands of jobs, and very few new opportunities. The government has plans to close three additional coal-fired plants by 2030, and many more in the future. Eskom, and the coal mining sector together employ thousands of workers.
Chinese battery manufacturer CATL anticipates that energy storage will make up half the global sales by 2030
CATL in China, the?largest battery manufacturer in the world, is expecting energy storage to account for 50% of its global sales, up from 25% today, according to a company official on Thursday. Kevin Tang, CATL’s director of Energy Storage Systems for Europe, stated that energy storage is already up from 2% of battery purchases five years ago. CATL was founded in 2011 and initially specialized in manufacturing lithium-ion battery for electric vehicles. These batteries now account for about three quarters its sales. Tang stated that the demand for battery storage is driven by an increased need to complement intermittent renewables.
Investors in renewable energy mobilize to bid on Brazil's battery auction but warn against risks
The government announced on Wednesday that major international investors in renewable energy are lined up to bid for the first battery auction. This will give the storage units the resources they need to buy power from Brazil's struggling renewable generators. In recent years, solar and wind energy projects have suffered losses of hundreds of millions of dollar because the excess power was not used. After two years of promises and much preparation by companies, the auction to purchase batteries for the country’s power sector was added to the schedule of the government for December.
BlackRock's Atlas invests $1 billion into renewable energy in Brazil
Atlas Renewable Energy has put on hold plans to invest $1 billion in Brazil because the Brazilian grid operator has repeatedly rejected renewable energy, said CEO Carlos Barrera. Barrera noted that Atlas, owned by BlackRock's Global Infrastructure Partners, had planned projects for last year and this, noting that the company's existing projects were curtailed up to 15%-25% in the second quarter. The curtailment of power is the amount that could have been generated by solar or wind but was rejected pre-emptively because a grid reached?its limit. He said on the sidelines the SNEC Photovoltaic Conference in Shanghai that "there's at least...
FT reports that BP has held discussions to sell North Sea assets for PS2 billion to Ithaca.
The Financial Times reported that BP had advanced 'talks' to sell its UK North Sea assets to Ithaca _Energy _in a??deal worth $2.69 billion, citing sources familiar with the situation. The report stated that despite the failure of the recent talks, BP is still exploring its options and could pursue a 'deal' with another competitor. Ithaca Energy?refused to comment while BP didn't immediately respond to a?request for comment. Bloomberg News reported that last month BP was weighing the sale of all or part of its UK North Sea Operations.
BP begins commercial production of non-associated gas at Azerbaijan’s ACG field
British ?energy major BP said on Monday ?commercial production of non-associated gas ?has begun at the ?energy-rich Azeri-Chirag-Gunashli (ACG) ?field ?off the coast of Azerbaijan. Non-associated natural gas is gas that comes from wells where there is no crude oil. It's produced independently, rather than as a byproduct. BP stated that ACG has estimated non-associated gas reserves of 4 trillion cubic ft with a potential of 6 trillion cubic ft. BP is refocusing its efforts on fossil fuels after a push for renewable energy.
Bloomberg News reports that Mitsui is looking to invest in LNG to meet the power needs of data centers.
Bloomberg News reported on Thursday that the CEO of Mitsui, Kenichi Hori, is looking to invest in LNG projects across the Middle East, U.S.A., and Australia to meet the rising demand for power from data centers. Hori, a Bloomberg News reporter, said that the company would consider securing equity stakes in gas and LNG companies or signing supply agreements. He added that LNG demand was on the rise as more companies sought clean energy for AI infrastructure. Mitsui said it could offer 'functions ranging from the supply and trading energy to power infrastructure, to a consolidated entity focused solely on the data center supply chain.
Bloomberg News reports that Mitsui is looking to invest in LNG to meet the power needs of data centers.
Bloomberg News reported on Thursday that the CEO of Japanese trading house Mitsui was looking to invest in LNG projects in the Middle East, Australia, and even the U.S. to meet data center power demand. Hori, a Bloomberg News reporter, said that the company would consider taking equity stakes in or securing agreements with LNG and gas chemical firms. He added that LNG demand was "booming" as companies looked for clean energy to power AI-related infrastructure. Mitsui didn't immediately respond to our request for comment. Berkshire Hathaway has a 10% stake in the company. It is one of Japan’s five largest trading houses.
The US solar industry is suffering from the price increase of aluminium due to the Mideast war.
The war in Iran has caused a shortage of aluminium, which is making racking systems more expensive. This adds to the financial pressures already being felt by an industry that has been struggling with high silver prices. Aluminium is a vital component for solar racking components, such as rails and clamps used to mount solar panels. The London Metal Exchange benchmark aluminium price has risen 15% since the end of February. CME's COMEX aluminum futures contract is up more than 30%. "I'm seeing ?roughly a 20% increase in racking selling price across solar projects," said Jim Wood, CEO of SEG Solar Inc. According to the U.S.
Macron: Thousands of companies involved in French electric plan
On Tuesday, French President Emmanuel Macron'said' that thousands of companies will be involved in the effort of the country to double the percentage of electricity produced domestically in its energy mix by 2030. Macron signed with major companies a national electrification agreement on Tuesday. The agreement details pledges of private investment, as part of an energy program unveiled in February. The French government announced that it would double its support for renewable energy, nuclear power, and heating to EUR10 billion per year by 2030.
BP ousts Chairman Albert Manifold, citing unnamed Governance Issues
BP announced on Tuesday that it had removed Albert Manifold as its Chair 'with immediate effect'. The company cited governance and conduct concerns, just months after he was appointed to oversee a new strategy. BP launched a plan to switch the focus from renewable energy to fossil fuels in February '2025. It also appointed Meg O'Neill as its fifth CEO since last year. In a Tuesday statement, BP announced that its?board unanimously agreed to remove Albert Manifold as chairman and director. BP stated that the decision was made in response to serious concerns expressed to the board regarding important?governance…
Renewables magnate Riquelme launches Real Madrid presidency bid - source
According to a source with knowledge of this matter, Enrique 'Riquelme' informed Real Madrid's Board on Thursday that he intended to run for its presidency. This is the first challenge to Florentino Perez's 'vice-like' grip on the richest soccer team in the world after more than 20 years. Riquelme, founder and CEO of renewable energy firm Cox, told the Real Madrid board on Thursday that he intended to announce his candidacy. The source declined to name him due to the sensitive nature of the issue. According to electoral rules, Riquelme has until Saturday evening to decide whether or not he will proceed with his bid.
Colombia completes the exploratory phase for Ecopetrol's geothermal project
The Colombian environment ministry announced a decision on Wednesday to approve the environmental viability of an exploratory phase for the Nereidas geothermal project. This project is led by the state oil company Ecopetrol and the utility CHEC. This is Colombia's?first large-scale geothermal initiative. The Ministry said that it had granted a partial and conditional carving-out of a protected forest area outside national park, limited to exploration work, and subject to environmental safeguards, ecological restore and water-management requirements.
NextEra CEO feels "very good" about Dominion off-shore wind project
NextEra Energy's chief executive said that on?Monday, his company was pleased with Dominion’s investment in offshore winds. He has previously disparaged this technology. CEO John 'Ketchum' made the remarks during a conference call with investors about NextEra’s $66.8 Billion bid for Dominion. Dominion is building an offshore wind project worth more than $11 Billion off the coasts of Virginia. Ketchum stated that "as we look at it, we feel incredibly good about it" and noted that the facility was already sending electricity to the grid.
HSBC will lend $4 billion to China to scale up clean technology globally
HSBC launched a $4 billion credit facility on Monday to'support 'the global expansion of mainland Chinese firms involved in sustainable and transformation technologies such as clean power, data centers, electric vehicles, and AI. China is already the largest exporter in the world of solar and batteries technology. It has been a leader in the?deployment? of green technologies to reduce emissions and has taken a strategic approach to expand markets and influence worldwide. HSBC has created the Sustainability and Transition Credit Facility as the Iran War drives demand for renewable energy like wind and solar…
