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…
India's top solar regulator blocks 3.2 GW of coal power plant, citing clean-energy push
A filing revealed that the power regulator in Rajasthan, India’s largest solar producer, refused to approve a 3,200 megawatt coal project. The regulator said it was against clean energy goals, and lacked justification based on demand forecasts. In an order published Thursday, the Rajasthan Electricity Regulatory Commission announced that it had rejected a petition filed by state-run Rajasthan Urja Vikas and IT Services Ltd to obtain coal power through bidding for a period of 25 years. The utility claimed that the new capacity would be needed to meet the rising demand for electricity around-the-clock.
Trump Energy Department reorganizes to focus on fossil and nuclear priorities
The U.S. Department of Energy announced on Thursday a reorganization of its agency, which prioritizes oil and nucleic resources over offices dedicated to renewables or efficiency. DOE released a new organization chart along with a short statement stating that the changes aligned to President Donald Trump’s agenda of energy dominance. The chart includes several new divisions including the Hydrocarbons Office, Geothermal Office and Office of Fusion. The Office of Clean Energy Demonstrations (established by the Biden Administration) has been eliminated. This chart does not include the Office of Energy Efficiency and Renewable Energy.
India's top solar regulator blocks 3.2 GW of coal power plant, citing clean-energy push
A filing revealed that the power regulator in Rajasthan, India’s largest solar producer, refused to approve a 3,200 megawatt coal project. The power regulator said it was against clean energy goals, and lacked justification based on demand forecasts. In an order published Thursday, the Rajasthan Electricity Regulatory Commission announced that it had rejected a petition filed by state-run Rajasthan Urja Vikas and IT Services Ltd to obtain coal power through bidding for a period of 25 years. The utility claimed that the new capacity would be needed to meet a growing demand for electricity around-the-clock.
Are renewables prepared for the COP30 discussion on fossil fuels?
At the climate summit, it may be premature to declare the end to the fossil fuel age. But up to 80 nations are calling for a concrete plan that will move us away from polluting energy. The 195 countries at the COP30, including the oil producers, will have to agree on a plan to reduce oil and gas consumption. There are also practical challenges to overcome, as the demand for electricity is expected to rise due to the increase in artificial intelligence, and the population growth. The world has not reached the target of triple clean energy in 2030 set by the COP28 conference held two years ago in Dubai…
Shell UK sells its 50% stake in Tobermory Gas to UK-based Ithaca Energy
Ithaca Energy, a North Sea oil-and-gas producer, announced on Wednesday that it had agreed to purchase a 50% stake from Shell UK in the Tobermory Gas discovery located in the West of Shetland Basin off Scotland. Shell's Tobermory interest will be part of Adura. This joint venture between Equinor and Shell is expected to launch later this year. This partnership will be announced in December 2024 and combine Shell and Equinor’s UK offshore oil and natural gas assets. Shell spokesperson stated that the announcement made with Ithaca on Wednesday supports Shell's West of Shetland Gas Growth Strategy.
South Korea joins Stargate AI Data Centre Project in UAE
Seoul announced on Tuesday that South Korea had agreed to collaborate with the United Arab Emirates to build an artificial intelligence data campus, a project backed by the United States. South Korea announced that it would help build the computing power and energy infrastructure of the largest AI data centre outside the United States after South Korean president Lee Jae Myung met with UAE President Mohammed bin Zayed Al Nahyan. South Korea, the home of chipmakers Samsung Electronics, SK Hynix and SK Hynix aims to be…
Sierra Club takes on fossil fuels in the US electricity grid
The Sierra Club announced on Tuesday that it is challenging the decision of a U.S. Federal Energy regulator to expedite connecting fossil fuel power stations to major electrical grids, at the expense renewable energy. The environmental group submitted a petition to the D.C. Circuit Court of Appeals will review the Federal Energy Regulatory Commission (FERC)'s decision to allow the Southwest Power Pool to accelerate the interconnection of mostly coal fuel generation. SPP is a 14-state region that stretches from North Dakota all the way to Louisiana.
PowerChina focuses on renewables for growth in Africa
A company executive revealed that China's Power Construction Corp. (PowerChina), a state-owned corporation, is targeting significant growth in Africa by focusing on renewable projects as part its overseas expansion strategy. Chinese lending to African countries has dropped sharply since a peak in 2016 of around $28 billion per year, as Beijing becomes more cautious about the debt risk. However, state-backed companies like PowerChina continue to push forward with new projects. PowerChina executive Chen Guanfu stated that Africa was its second home at a Bloomberg event held on Tuesday.
Freeport will restore large-scale production at Indonesia's Grasberg Mine in 2026
Freeport-McMoRan, a copper miner in Indonesia's Grasberg district, said Tuesday that it will resume large-scale production there from the second quarter 2026. This follows a fatal accident earlier this year which forced operations to be halted. On September 8, around 800,000 metric tonnes of wet materials flooded the Grasberg Block Cave at the complex. Seven workers died. The company estimates that PT Freeport Indonesia will produce roughly the same amount of copper and gold in 2026 as it did in 2025, which is about 1.0 billion ounces of copper and 0.9 millions ounces gold. Freeport's shares rose 3.6% on the premarket.
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux. The sanctions and full-scale Russian invasion of Ukraine created a shock to the energy system that shifted the focus from long-term energy transformation to near-term security. Shell and BP shifted their focus from investing billions in renewables to focusing on legacy operations and aligning themselves with Exxon Mobil…
Prices fall quickly on French nuclear and wind supply
The European spot power price fell on Tuesday. However, the German day-ahead rate remained at an enormous premium to France. LSEG analyst Xiulan he said that a pronounced increase is expected in French wind energy generation in a short-term forecast. He added that the German outlook would be mildly positive due to higher consumption, and lower solar output. LSEG data shows that French baseload day-ahead was down 9.2% to 83.50 Euros ($96.79 per megawatt hour) at 0855 GMT. The German equivalent price dropped 1.5% to 102 Euros.
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux. The sanctions and full-scale Russian invasion of Ukraine created an energy shock which prompted governments to focus on the near-term security rather than the long-term transition. Shell and BP refocused on their legacy businesses, instead of investing billions in renewables. They aligned with Exxon Mobil and Chevron.
Enkraft, an activist fund, urges ABO Energy in a letter to develop a fair M&A procedure.
Enkraft, an activist fund, has written to ABO Energy in Germany to ask them to make sure that all shareholders benefit from the sales process initiated by renewable energy firm. They were concerned that smaller investors would lose out if there was a change of management. ABO Energy announced in late September that it had asked Metzler, a private bank, to provide advice on a potential deal where the founders of ABO Energy -- whose families collectively hold 52% -- could cede control to a third party investor. The German…
Enkraft, an activist fund, urges ABO Energy in a letter to develop a fair M&A procedure.
Enkraft, an activist fund, has written to ABO Energy in Germany to ask them to make sure that all shareholders benefit from the sales process initiated by renewable energy firm. They were concerned that smaller investors would lose out if there was a change of management. ABO Energy announced in late September that it had asked Metzler, a private bank, to provide advice on a potential deal where the founders of ABO Energy -- whose families collectively hold 52% -- could cede control to a third party investor. The German takeover law states that if a suitor crosses the threshold of 30% ownership, they must submit a full bid.