Italy's offshore-wind push is stagnant, putting climate targets at risk
Analysts say that Italian plans to harness the offshore wind power are coming to a grinding halt. This puts the country's goals for climate change at risk and hits firms who have invested in this sector. A government decree from 2024 offered incentives for 3.8 gigawatts of?capacity?by 2028. However, the contracts were never awarded due to bureaucratic and regulation hurdles. This has prevented billions of euro in potential investments. The August 2013 decree approved by the Italian government targeted renewable technologies like floating platforms that are suitable for deep Mediterranean water.
ReNew signs pact to build solar project of 150 MW in India with Google
India's ReNew Energy Global announced on Tuesday that it had signed a long-term deal with Alphabet to develop a 150-megawatt project in the western Indian state of Rajasthan. The agreement is in line Google's aim to be entirely carbon-free by 2030. India also wants to double the capacity of its non-fossil fuel power generation to 500 gigawatts before the end decade. Other?U.S. Other?U.S. tech giants, such as Amazon and Microsoft, are also signing large-scale renewable energy agreements globally to decarbonize their?energy-hungry?data centers.
Sonnedix secures contracts in Italy for 805 MW solar power
Sonnedix, a renewable energy company backed by JP Morgan and sponsored by three Italian government schemes, has been awarded contracts to install 805 megawatts in solar capacity under three different government schemes. Solar power, considered easier to develop than wind projects because of Italy's geographic characteristics, is playing a key role in the energy transformation in Italy. The country has become one of Europe's leading producers of clean energy. Sonnedix already has more than 900 MW in Italy. The new contracts…
Prices fall despite short-term bullish factors
The European spot electricity prices fell on Tuesday despite lower renewables and nuclear supplies and an increase in consumption?in France - as demand decreased across the region. LSEG analysis identified increasing thermal power as a market factor, which?overall?worked to bring down levels in Germany & France. LSEG data shows that the French baseload day-ahead was priced at 95 euros ($99.88 per megawatt hour) at 0940 GMT. This is 4% lower than at the previous close. The German equivalent price dropped 1.6% to 106.8 Euro/MWh. LSEG data shows that German wind power output is expected to fall by 4.2 gigawatts on Wednesday to 13.1 GW.
Japanese companies to gain more control over LNG joint ventures with state-backed groups
The industry ministry announced on Tuesday that Japanese companies would gain more control over JOGMEC-backed liquefied natural gas joint ventures and recover their investments faster as part of measures aimed to strengthen the nation's security in energy. The Ministry of Economy, Trade and Industry told a committee of resource and fuel policy it would encourage Japanese companies to invest in LNG. METI aims at introducing a mechanism that prioritizes dividend payments made to?companies through joint investment vehicles established with the Japan Organization for Metals and Energy Security(JOGMEC)…
Japan wants to give partners of state entities more flexibility to secure LNG supplies
The industry ministry announced on Tuesday that Japanese companies would be able to exercise more control over JOGMEC-backed liquefied gas joint ventures and also recover their investment faster. At a meeting of the committee on fuel and resource policy, the Ministry of Economy, Trade and Industry announced that it would take steps to encourage Japanese firms to invest in LNG projects. METI has stated that it aims to implement a'mechanism that prioritizes dividend payments to joint investment vehicles, with the 'Japan Organization of Metals and Energy Security.
Australia announces rescue bid for Rio Tinto Tomago Aluminium Smelter
The Prime Minister Anthony Albanese, announced on Friday that a "rescue" effort would be launched to keep Australia's biggest aluminium smelter open, the struggling Tomago plant majority owned by Rio Tinto after its current energy contract expires 2028. The announcement comes after the company had warned in October of a possible closure for Tomago Aluminium. It employs more than 1,000 employees and 200 contractors. Albanese stated that aluminium was becoming a "vital product", making it vital to keep Tomago operating. He said that if Australia does not produce aluminium, the knock-on effects in other industries are significant.
Italy awards solar power in the first "Not made in China" auction
In its first auction, Italy allocated more than 1.1 gigawatts to 88 solar projects that were built without any equipment made in China. The average price per megawatt-hour was 66.38 euro. According to the data of Italy's electricity service agency (GSE), this tariff is 17 percent higher than the average price in a renewable auction held earlier this year, which had no restrictions on equipment origin. The auction was one of the first in Europe to use non-price criteria that were linked to the European Union’s Net-Zero Industry Act. This package of measures aims to reduce reliance on cheap renewable components imported from China.
German cabinet approves draft law on biofuels, and food-based ingredients to continue using
The Environment Ministry said that the German cabinet had approved a draft law on biofuels, allowing for continued use of animal feed and food as biofuels ingredients. In order to reduce greenhouse gas emissions, Germany's program includes the use of biofuels such as biodiesel or bioethanol in combination with fossil fuels. Oil companies have set greenhouse gas reduction goals, which can be partially met by using biodiesel, often made from waste vegetable oil or rapeseed, and bioethanol, often made from grains or sugar.
Prices rise dramatically on lower wind volume
The European spot electricity prices rose on Wednesday due to forecasts of lower wind power generation, which overrode?effects from slightly higher solar power and nuclear power output. In a research note for the day ahead, LSEG analyst Xiulan said that "the signal?is bullish" for Germany. He added that France is also affected by this wind downturn. According to LSEG data, the price of French baseload electricity for delivery on Thursday was 17.4% higher than at 1000 GMT at 75.2 Euros ($87.53 per megawatt-hour (MWh). In its opening trade, the equivalent German day-ahead contract gained 13.6% and reached 94.3 Euros/MWh.
EIA: US power consumption will reach new highs by 2025 and 26.
Energy Information Administration's short-term energy forecast on Tuesday said that U.S. electricity consumption would reach record levels in 2025 and in 2026. EIA predicted that power demand would rise from 4,110 billion kWh to 4,199 billion in 2025 and 4,267 billion in 2026. Demand is increasing due to the use of electricity by homes and businesses and data centers dedicated for artificial intelligence and cryptocurrency. According to the EIA, power sales for residential customers will reach?1,516?kWh in 2025, followed by 1,486?kWh commercial customers and 1,055?kWh industrial customers.
The decision on the French energy planning bill is expected to be made by Christmas
The French energy ministry announced on Tuesday that the country will take a final decision on the "delayed multiannual planning law" (PPE). The 'PPE' is a 10-year plan that outlines the country’s goals on everything from renewable and nuclear energy to climate change. However, political fights over renewable energy frameworks have caused long delays in its publication. The ministry has not given any indication of what this decision means or whether it will be voted on or passed by decree. The bill has been awaited for a long time by the renewable energy industry…
The US government is under pressure from the Fusion Energy Industry to provide billions of dollars in support
On Monday, fusion energy industry leaders met U.S. Department of Energy representatives to encourage them to provide billions of dollars to projects that seek to?generate electrical power by the same process as the sun. In November, the?department?created an Office of Fusion as part of a reorganization which focused on fossil and nuclear energy. Renewable energy offices were eliminated. The Trump administration has reversed billions in funding that former President Joe Biden authorized for?hydrogen- and renewable energy projects.
India's low battery storage bids are raising concerns about project viability
Industry experts and analysts fear that the record-low bids to build battery energy storage system in India could make some projects economically unviable, or even dangerous. This would hinder efforts towards renewable power. Battery projects are critical to India's goal to double its renewable energy capacity by 2030 to 500 gigawatts, while the grid operator reduces excess power. India Energy Storage Alliance (IESA), an industry group, says that India has contracted out 83 gigawatt hours (GWh) worth of battery storage since 2021. However, it needs to accelerate its pace in order to meet the 236 GWh storage requirement by 2032.
Report: China invested $80 billion in cleantech overseas last year
According to a recent report from the Australian research group Climate Energy Finance, Chinese companies have invested $80 billion overseas in clean technologies to help absorb an oversupply. According to the report published on Sunday, many countries have also intensified their cleantech collaboration with China as a result of U.S. president Donald Trump's new tariffs. This brings China's overseas direct investment in green technology up to more than 180 billion dollars since 2023. Chinese companies dominate the supply chains of clean technologies, such as solar panels and batteries.
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or halt any new funding for the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could choke off financing for the entire industry. The Ministry of New and Renewable Energy announced on Sunday that it had…
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or pause new financing in the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could cause a financial squeeze on the entire industry. The Ministry of New and Renewable Energy announced on Sunday that it…
Industry head: Colombia will see a jump in renewable energy by 2025, thanks to new players.
Alexandra Hernandez (President of the Colombian Renewable Energy Association, SER Colombia) said that Colombia will end 2025 with 2,685 Megawatts (MW), up 49% compared to 1,800 MW by the end of 2024. This is due to new project commissions as well as some regulatory changes. In the past year, 27 large and medium-sized projects, mainly solar, were completed, as well as three wind projects, and one biomass facility, totaling $2.9 billion in investment. The new capacity accounts for 13%, or more than double the 2.5% of total electricity generated in Colombia at the end 2023. Atlas Renewable Energy is one of the companies that completed projects.
Minister says 60% of Morocco's water will be supplied by desalination
Rabat, the capital of Morocco, is accelerating investment in renewable energy-powered desalination plants, and plans to increase its supply of drinking water by 60% by 2030. This will be up from 25%. It is vital to maintain a steady supply of water and the status of Morocco as a major producer and exporter fresh produce in an era of climate change. Droughts have dried up many of its water reservoirs, and underground resources are depleted. Nizar Baraka, speaking on the sidelines at the World Water Congress held in Marrakech on Thursday…
Great British Energy announces plans to increase renewable energy by 2030
Great British Energy (GBE), a state-owned company that produces energy, announced a five-year strategy plan on Thursday to accelerate the country's shift to renewable energy to meet its climate goals. Britain wants to decarbonise the power sector largely by 2030. This goal will, it claims, help lower energy costs. It will also require an enormous increase in renewable capacities. GBE was established last year with the aim of investing in and co-developing clean energy projects. The government has committed a total of 8,3 billion pounds ($11.04billion) during the current parliament.