Serentica, a KKR-backed company, may raise as much as $8 billion for India's green energy expansion
A top executive at the Indian company Serentica Renewables said that it plans to raise between $8 billion and $6 billion in the next five year to fund acquisitions and projects, as well as to double its clean energy production capacity. Pratik Agarwal said that Serentica is looking to spend $10 billion to 11 billion dollars to increase its clean energy portfolio by 17 gigawatts by 2029/30. The company wants to buy projects that are currently operating or under construction. There are currently 2 GW installed of solar and wind power and another 2 GW is due to be put into service within the next 10 month.
EDF Considers Selling US Renewable Unit to Focus on French Nuclear
French state-owned utility EDF is considering selling all of its U.S. renewable energy business, its CEO said on Wednesday, as the company focuses on building up its domestic nuclear operations and U.S. support for wind and solar has been rolled back.Bernard Fontana said the company was considering selling "between 50% and 100%" of its U.S. renewable unit, revising an earlier plan to sell only a minority stake.A deal could value the equity of the unit at nearly 4 billion euros ($4.6 billion), one person familiar with the sale said.FOCUS ON FRENCH NUCLEAR FLEETFontana…
Shell is ready to invest in Italy more if drilling rights are unlocked
Shell is willing to increase its investment in Italy to boost the hydrocarbon production. The head of Shell's Italian division said this on Wednesday. He urged the government to permit new drilling. Shell spends approximately 500 million euros (578 million dollars) per year in Italy and is the largest foreign investor in this sector. Shell's hydrocarbon production is decreasing in Italy as it waits for approval to drill new wells on the two concessions it operates in. Shell Country Chair for Italy Joao Santis Rosa stated at an event held in Rome that "the potential is much greater than what we currently invest...
EDF considers selling the US renewable unit in full to concentrate on French nuclear
The CEO of the French state-owned utility EDF said that it is considering selling its U.S. Renewable Energy business. This comes as EDF focuses more on its nuclear operations at home and U.S. wind and solar support has been reduced. Bernard Fontana, the company's CEO, said that it was looking at selling between 50% and 100% of its U.S. Renewable Unit. This is a revision to an earlier plan which had only planned on selling a minor stake. One person familiar with the deal said that the equity in the unit could be valued at almost 4 billion euros ($4.6billion). Fontana is a former CEO of Adopt AI, which was held in Paris.
India approves $816 Million Rare Earth Permanent Magnets Manufacturing Programme
The information minister announced on Wednesday that India had approved a manufacturing program for rare earth permanent magnets worth 72.8 billion rupees (815.74 million dollars) in order to reduce reliance on imported elements, which are critical to industries ranging from aerospace and electric vehicles to renewable energy and defence. According to the Indian government, the country's demand for rare earth permanent magnetics - the strongest type of permanent magnets available - will double by 2030. However, it currently imports most of its supply.
India approves a $816 million programme to manufacture rare earth permanent magnets
The information minister announced on Wednesday that India had approved a manufacturing program for rare earth permanent magnets worth 72.8 billion rupees (815.74 million dollars) in order to reduce reliance on imported elements, which are critical to industries ranging from aerospace and electric vehicles to renewable energy and defence. According to the Indian government, the country's demand for rare earth permanent magnetics - the strongest type of permanent magnet - will double by 2030. However, it currently imports most of its supply.
EDF considers selling the US renewable unit in full to concentrate on French nuclear
EDF, the French state-owned utility, is looking at selling all of its U.S. Renewable Energy business, according to its CEO on Wednesday. The company has a focus on developing its nuclear operations in France, while U.S. wind and solar support has been reduced. Bernard Fontana, who spoke on the sidelines at the Adopt AI Conference in Paris, said that the company was considering selling between 50% and 100% of its U.S. Renewable unit. This is a revision of an earlier plan of only selling a minority stake. Bloomberg reported that a stake less than 50% would be worth around 2 billion euros.
India's energy regulator is considering auctioning grid slots if renewable projects fail.
According to a paper posted on the website, India's regulator of power is considering auctioning off transmission connectivity that was left idle due to renewable energy developers failing to sign power purchase contracts. According to the Central Electricity Regulatory Commission, approximately 31.8 gigawatts were granted as grid access for projects based on award letters. The connectivity is still unused, as no power purchase agreements were executed. This has blocked transmission capacity, and slowed the clean energy rollout. State power utilities have not purchased nearly 50 GW worth of clean energy projects.
Lower demand and rising green energy production curb spot prices
The European power prices fell on Wednesday due to a combination forecasts of higher wind and solar production and rising temperatures that weighed on the demand. LSEG's analysis noted a lower residual load, which would mean that thermal plants do not need to be boosted to match renewable energy output. LSEG data indicated that the electricity demand for the day ahead will probably fall by 2.1 gigawatts to 65.9 GW in France, and by 200 MW to 65.4 GW in Germany. LSEG data shows that French baseload day-ahead opened trading at 85 euros (98.36 dollars) per megawatthour (MWh), down by 13.3% from the previous close.
Equinor Explores Role in Germany Gas Plant Capacity Expansion
Norwegian energy producer Equinor is looking at options for participating in a planned German gas-fired power plant tender but requires more detail before making any decision, a senior executive said on Tuesday.Germany plans to tender eight gigawatts (GW) of new gas-fired power plant capacity next year, with a further 2 GW to be offered in 2026 and 2027 to strike a balance between decarbonisation and backing up intermittent renewables."We have had, and are having, conversations with actors who will most certainly be in the picture and then we need to see whether we can play a role in this," Helge Haugane, head of Equinor's power business area
Equinor looks at its role in expanding Germany's gas capacity
A senior executive at Equinor said that the Norwegian energy company is considering its options to participate in a German gas-fired plant tender, but needs more information before taking a decision. Germany will tender 8 gigawatts of new gas-fired plant capacity in the coming year. A further 2 GW will be offered by 2026 or 2027, to strike a balanced between decarbonisation while supporting intermittent renewables. Helge Haigane, Equinor's head of power business, said: "We are in discussions with actors that will be most definitely in the picture. He added that the involvement of any company was also dependent on economics.
Equinor plans to drill 250 oil and natural gas exploration wells by 2035 in Norway
Equinor plans to drill 250 oil-and-gas exploration wells in Norwegian waterways in the next ten years in order to achieve a goal that will maintain production in 2035, at levels of 2020, due in part, according its CEO, Tuesday, to expectations of continued fossil fuel demand. Anders Opedal, the CEO of Norwegian Energy Company, said at an energy conference that the company will invest 60 billion Norwegian crowns (5.86 billion dollars) per year over 10 years to maintain production on Norway's aging continental shelf.
Analysis finds that China's coal plant permits will be at a four-year low by 2025.
A new Greenpeace report showed that China's coal plant permits will fall to their lowest level in four years. This is due to the growing demand for renewable energy sources. Greenpeace has found that China allowed 41.8 gigawatts to be added to coal plant capacity during the first quarter of 2025. If the current pace is maintained, the 2025 permits will be the lowest since 2021. Greenpeace estimates that the approvals for 2025 will represent between 171.5 billion and 181.5 billion dollars in new coal investments. 85% of these investments are owned by state-owned companies.
Shell and Ferrari Sign Long-Term Green Power Supply Deal
Shell announced on Tuesday that it had signed a long-term agreement to provide Ferrari with renewable energies until 2034. This will help the luxury automaker reduce its carbon emissions. In recent years, power purchase agreements have become more popular in Italy as a means for manufacturers to lock-in energy costs and secure renewable power. Shell will provide 650 gigawatt-hours of electricity over a period of 10 years, using a plant that was developed by the oil group. This will cover almost half the energy requirements of Ferrari's Maranello factory near Modena and help to decarbonise its production.
Russell: COP30 agreement is not important in the battle between renewables and fossil fuels.
It was not realistic to expect anything better from the COP30 Climate Summit than a weak statement that omitted all mention of fossil fuels. It was never going to be easy to bring nearly 200 countries together with vastly different perspectives and make a statement of commitment to fight climate change. After the Belem summit, the question that needs to be asked is, does what the final statement says and doesn't state, really matter? Imagine that environmentalists have won their case with a communique that makes firm commitments for the phase-out of fossil fuels within a time frame that meets ambitious climate targets.
UBS raises copper outlook as mine disruptions deepen supply deficits
UBS said that it expects the copper price to increase into next year. The bank cited tightening supplies due to mine disruptions, and a strong demand for clean energy and electrification. UBS's updated projections show that its March 2026 forecast price was increased by $750 to $11,500 per metric ton. It also raised its targets for June and September 2026 by $1,000 each to $12,000 and $12,500 respectively. A new target of $13,000 a ton per month has been introduced in December 2026. UBS has also increased its forecasts for market deficits, stating that falling inventories will continue to keep the conditions tight.
India's solar panels exports plunge in September due to US tariffs
Industry officials and analysts reported that India's solar modules exports dropped sharply to their lowest level this year in September after U.S. Trade Measures curbed shipments. This forced manufacturers to redirect supply to the domestic market. India's exports of panels to the United States have risen in recent years as developers seek alternatives to Chinese products due to Washington's restrictions. In the Trump administration, the U.S. imposed a tariff of 50% on Indian goods. Since then, it has tightened its scrutiny over imports, as they investigate whether components made in China are being shipped out of India.
Russell: COP30 agreement is not important in the battle between renewables and fossil fuels.
It was not realistic to expect anything better from the COP30 Climate Summit than a weak statement that omitted all mention of fossil fuels. It was never going to be easy to bring nearly 200 countries together with vastly different perspectives and make a statement of commitment to fight climate change. After the Belem summit, the question that needs to be asked is, does what the final statement says and doesn't state, really matter? Imagine that environmentalists have won their case with a communique that makes firm commitments for the phase-out of fossil fuels within a time frame that meets ambitious climate targets.
Pakistan claims rooftop solar production will exceed grid demand at some hubs in the next few years
Next year, rooftop solar power generation in Pakistan will surpass the electrical grid's daytime demand for the first-time ever in major industrial areas. This was revealed by a senior government representative. The outlook reflects the record growth in solar panel installations that occurred in the last few years. This boom has resulted in lower emissions, and for some, reduced electricity bills. However it has also caused financial problems for utilities with high debts due to the prolonged decline in grid-based electricty demand.
Pakistan claims rooftop solar production will exceed grid demand at some hubs in the next few years
Next year, rooftop solar power generation in Pakistan will surpass the electrical grid's daytime demand for the first ever time. This will be the case in major industrial areas. The outlook reflects the record growth in solar panel installations that occurred in recent years. This boom has resulted in lower emissions, and for some, reduced electricity bills. However it has also caused financial problems for utilities with high debts due to the prolonged decline in grid-based electricty demand. Aisha Morani, Secretary…