The US wants Europe to continue using oil and gas instead of renewable energies
The world's investments in renewable energies aren't paying off and should be focused on securing a reliable supply of fossil fuels. This was the message from U.S. Energy and Interior Secretaries this week, as they tried to convince Europe to purchase more U.S. gas and oil. On the back of U.S. shale gas boom, the U.S. is now Europe's largest oil and natural gas supplier. Its companies are trying to increase their share at a time when the European Union is attempting to cut off all remaining Russian energy imports. The message of U.S. officials during an energy conference held in Athens, Greece this week highlighted the shift in U.S.
Official: India's rapid roll-out of renewable energy and the mismatch in demand is driving up electricity costs.
A senior official from the Central Electricity Authority said that India's rapid rollout of renewable energy is straining grid operations, and increasing electricity costs because demand has not kept up with it. In the first half 2025, India's renewable energy output grew at its fastest rate since 2022. In the first half of this year, India achieved 50% of its electricity installed capacity using non-fossil sources. Its target was to add 500 gigawatts of power by 2030. The Energy and Resources Institute in New Delhi organised a forum. The Chairperson Ghanshyamprasad spoke at the event.
Emmvee Photovoltaic, a company that is preparing to IPO, bets $625.75 millions on India's solar boom.
Emmvee Photovoltaic Power, an Indian solar panel manufacturer that is preparing to launch its initial public offering, plans to invest around 55 billion rupees (625.75 million dollars) to expand their manufacturing capacity. They are betting on the robust demand in India, according to a top executive. The company plans to increase its capacity to 16.3 GW in the first half 2028. It currently has 7.8 gigawatts. Emmvee also plans to increase its cell production from 2.94 GW to 8.94 Gw by the first half 2028. The company…
Orsted, the offshore wind group, has a net loss for Q3 after US troubles under Trump
Orsted, which is the largest offshore wind farm company in the world, reported a net loss for its third quarter of 1,70 billion Danish crowns (approximately $265,50 million) on Wednesday. The group was hit by President Donald Trump's policies regarding trade and his opposition to renewable energy. Orsted shares are down 85% since their peak in 2021, due to rising costs, supply chain disruptions and challenges in the United States, where Trump tried to stop several ongoing developments. Orsted suffered impairment losses of 1.8 Billion Crowns in the third-quarter.
Apollo buys Orsted's 50% share in UK wind farm at $6 billion
Orsted, a Danish company, announced on Monday that it had agreed to sell half of its interest in Britain's Hornsea 3 off-shore wind farm for 39 billion Danish crowns (6.09 billion dollars). This is widely considered a vital move to avoid a crippling downgrade to the credit rating. Orsted, world's biggest offshore wind developer, is trying to restore investor trust as it faces rising costs due to supply chain disruptions, inflation and uncertainty caused by U.S. president Donald Trump's anti-renewable energy stance. Orsted retained 50% ownership of the project after the company announced that it had sold its stake to Apollo Global Management.
Wood Mackenzie warns that China's curtailment of renewable energy will present revenue risks over the next decade.
Wood Mackenzie, a consultancy, said that if renewable energy is curtailed to balance China's grid during times of low or high demand it will pose a risk to investor revenues over the next decade. Wood Mackenzie predicts that solar curtailment rates will average over 5% in 21 provinces within the next decade. According to the latest data from the National New Energy Consumption Monitoring and Early Warning Center, this is an increase from only 10 provinces that experienced the same level of curtailment from January to August last year.
J-Power to Shut Two Coal-Fired Power Plants
Japan's Electric Power Development (J-Power) said on Friday it will decommission two coal-fired power plants by March 2029 as part of efforts to meet its 2030 goal of cutting carbon dioxide emissions by 46% from 2013 levels.President Hitoshi Kanno also reaffirmed the company's commitment to completing the Oga-Katagami-Akita offshore wind project in northern Akita prefecture under Japan's second-round public auction framework.J-Power, a wholesale electricity supplier, relies on coal-fired generation for over half of…
Fashion brands boost solar energy with textile suppliers
Textile suppliers in Bangladesh, who account for 85% exports of Bangladesh, are under pressure to become more environmentally friendly. They hope that new initiatives will help them find the money they need to expand rooftop systems powered by solar energy. Few energy companies are willing to invest in solar power plants because they fear that smaller factories may default on their commitments. Fashion brands and energy companies are partnering up to build rooftop solar capacity in Bangladesh for smaller suppliers. This creates a synergy between brand commitment and investment with energy company expertise.
J-Power shuts down two coal-fired plants and commits to offshore wind project
J-Power, Japan's Electric Power Development Company (J-Power), announced on Friday that it would decommission 2 coal-fired plants by March 2029 in order to achieve its 2030 goal of reducing carbon dioxide emissions by 46 percent from 2013. Hitoshi Kano also reiterated the company's intention to complete the Oga, Katagami, and Akita offshore project in the northern Akita Prefecture within the framework of Japan's public auction second round. J-Power is a wholesale supplier of electricity that relies on coal-fired production for more than half of its sales in the United States.
Prysmian will complete the study in 2026 on Sarawak-Singapore Power Export Project
A company official stated that the cable supplier Prysmian is expecting to finish next year the first-end engineering study for a hydropower project from Sarawak, Malaysia, to Singapore. Prysmian, a subsidiary company of Sembcorp Industries and Sarawak Energy Services, selected Prysmian as the preferred supplier in March for the project which will export approximately 1 gigawatts of renewable energy from Sarawak to city state by the year 2020. Detlev WAIMAN, CCO and SVP for Prysmian Transmission Unit, said that the Sarawak-Singapore Project will include two 750-kilometre (466 mile) power transmission cables, at a maximum depth of 100 meters.
US loans $1.5 billion for coal-fired fertilizer plants
The U.S. Energy Department announced on Wednesday that it had closed a $1.5 Billion loan to Wabash Valley Resources, LLC, for an Indiana Fertilizer Plant, which will now be powered by coal. The department stated that the project would restart a coal-gasification plant, which has been idle since 2016, and modify it so that it can produce 500,000 tons of anhydrous urea each year, using coal from a mine nearby and petcoke as a feedstock. The loan is in line with the policy of the Trump administration to support coal. This industry has been shrinking over recent years because of competition from renewable energy and natural gas.
Malaysia shifts from coal to a mix of solar, gas and electricity
Malaysia will shift away from coal and focus on solar power, said the CEO of the state utility Tenaga Nasional on Wednesday. He added that using renewable sources would keep costs low. Southeast Asia's 35 million-strong nation has increased its coal-fired fleet in order to lower electricity costs. However, it plans to increase the use of solar and natural gas - with the latter being cheaper but the former more flexible. Solar is cheaper per unit than coal and gas. In an interview, Megat Jalaluddin, CEO of TNB said that the best option is to have a mix that will address affordability.
Blueleaf Energy India Plans to Receive $75 Million from UK Development Finance Body
British International Investment, the UK's Development Finance Institution, announced on Wednesday that it would invest 75 million dollars to help Blueleaf Energy expand in India, a renewable energy platform owned by Macquarie Asset Management. The funds are intended to speed up the deployment of clean energy in Asia. The investment is to be made into Blueleaf’s utility-scale projects for solar, wind and energy storage in India. It will generate more than 3.2 gigawatt hours (GWh) per year of clean energy. The investment is in line with BII’s broader strategy of accelerating the energy transition for emerging markets.
Enphase Energy's forecast for the fourth quarter revenue is below expectations, signaling a tariff increase
Enphase Energy's fourth-quarter revenue was below Wall Street expectations on Tuesday. The company also said that U.S. president Donald Trump's tariffs negatively affected its margins. Shares of the solar inverter manufacturer fell over 8% following hours. The tariffs are expected to have a negative impact on the company's margins in the current quarter. Enphase said on a call after earnings that it expected limited exposure to recent China-related duties as the company's supplies chain is moving away from China. Enphase pays tariffs of over 40% on cell packs imported from China. U.S.
India's Adani Green Energy reports higher quarterly profits on strong power sales
India's Adani Green Energy announced a 25% rise in its second-quarter profits on Tuesday. This was due to robust power sales as well as higher capacity utilization. The company is considered a bellwether in the renewable energy industry. It has taken advantage of India's aggressive push to increase clean power capacity. India wants to reach its climate goals by 2030 and its target of 500 gigawatts non-fossil electricity capacity. The company's profit grew to 6.44 billion rupies ($73.3 million) in the third quarter ending September 30 from 5.15 bn rupies a year earlier.
Bill Gates-backed TerraPower seeks UK approval for nuclear reactor design
TerraPower, founded by Bill Gates and a nuclear innovation firm, submitted its first design of a new reactor type, as well as an energy storage system, to the British regulatory authorities for approval. TerraPower stated that the application to the UK Generic Design Assessment process (GDA) marks the first regulatory steps towards the deployment of its Natrium technology on a global marketplace. It added that the company was looking for sites in the UK to build its Natrium reactor, in collaboration with U.S.-based engineering firm KBR.
Britain announces a budget of $1.45 billion for offshore wind auction
Government documents revealed on Monday that Britain will offer a lower budget for offshore winds in its next round of auctions to encourage investment in renewable energy capacity. One analyst said the country would struggle to reach its clean power goals. The documents released on Monday show that the next round of auctions will have a budget for fixed, traditional offshore wind projects of 900 millions pounds, down from last year's 1.1 billion pounds. Another 180 million pounds is for floating wind technologies that are in the early stages.
KBW cites Geico tariffs and Buffett as reasons for a Berkshire 'underperformance'.
Keefe, Bruyette & Woods has downgraded Berkshire Hathaway to "underperform". The firm cited lower car insurance margins, lower interest rates, smaller tax credits for clean energy, and Warren Buffett’s departure as factors that will affect its share price. In a report dated on Sunday, KBW analyst Meyer Shields also reduced his target price of $740,000 to $700,000. Wall Street is rare with "Underperform' and "Sell" ratings. Berkshire closed Friday at $738.500 and dropped nearly 1% on Monday morning. Buffett will hand over the CEO title, which he has held for the past 35 years, to Vice Chairman Greg Abel in January.
Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid
In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, world-first project reaffirms UAE’s leadership position in clean energy, directly addressing intermittency of renewables. Project will reimagine potential of renewable energy, delivering 1GW of baseload power at a globally competitive tariff, establishing a blueprint for future international deployments.Masdar and EWEC are deploying the largest and most technologically advanced system of its kind in the world.Project will help power UAE’s AI revolution while creating over 10…
Petrofac files for bankruptcy after losing major Dutch wind-contract
Petrofac, a provider of oilfield services in the Netherlands, said it had applied to the High Court of England and Wales for the appointment of administrators following the termination of TenneT’s involvement in an offshore wind project. The Dutch-German electricity grid operator TenneT awarded Petrofac & Hitachi Energy a contract worth 13 billion euros ($15.16billion) in 2023 to deliver six 2 gigawatts offshore grid connection projects. TenneT announced last week that it had decided to terminate its contract with Petrofac because it failed to fulfill contractual obligations.