Spain's demand for electricity is increasing as renewables set records
According to Red Electrica's estimates, the amount of electricity consumed in Spain increased this year, after two years of decline. A record 56% came from renewable sources, such as solar and wind. The Spanish renewable energy industry has warned about the dangers of future investment in this sector due to the lack of demand for electricity. The preliminary figures indicate that demand increased by 1%, or 1.6% when adjusted for working hours and temperatures from 2023 to 244 terawatt-hours. In its climate and energy plans, Spain has set high targets for renewables.
Indonesia's plans for renewable energy may endanger forests
Indonesia, which is heavily dependent on coal for electricity, needs to move away from fossil fuels. It aims to generate 75 gigawatts from renewable sources over the next fifteen years. This compares with the 13 gigawatts it produces today. This push will be based on the use of biofuels that burn cleaner, i.e. organic material converted into liquid fuel. The government claims that biofuels will reduce Indonesia's dependence on costly fuel imports and greenhouse gases, while increasing palm oil production. This will in turn spur economic growth.
EIA: US natgas production will decline in 2024 as demand reaches record levels, EIA reports
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, released on Tuesday, predicted that U.S. Natural Gas production would decline by 2024 and demand would rise to a new record. EIA predicted that dry gas production would decline from a record 103,8 billion cubic feet per a day in 2023 down to 103.2 bcfd by 2024 due to fewer drilling activities. The producers have reduced drilling following the average monthly Henry Hub spot gas price. In March, the number of people who are employed fell to its lowest level in 32 years. Since then, it has remained low.
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India. Coal-fired blasting furnaces produce 2 tons of CO2 per ton of output. There are alternative technologies, such as electric arc-furnaces (EAFs), which can be powered by renewable sources.
Adani allegations bring India's clean-energy conundrum to the forefront
The allegations of bribery against Adani Group's founder Gautam Adani highlight the increasing difficulty that India's renewable energy developers have in finding buyers for their power. Officials say that while India's central governments wants to move away from coal-fired power generation and towards renewable energy sources, state-owned companies in charge of supplying electricity have been slow to strike deals. U.S. officials allege that Indian billionaire Adani devised a $265-million…
ArcelorMittal delays planned green investments for EU
ArcelorMittal is the second largest steelmaker in the world. It announced on Friday that it was delaying green investments due to uncertainty over European Union regulations. ArcelorMittal received 850 million Euros ($885 million) from the French Government in January to support its 1.7 billion Euro decarbonisation programme in France through 2030 at its Dunkirk site and Fos-sur-Mer site. ArcelorMittal said on Friday that it had not yet made final investment decisions for these projects. This includes the replacement of 2 out of 3 blast furnaces at Dunkirk with green hydrogen-powered installations.
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-year period, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan. Indonesia, which is one of the biggest emitters of greenhouse gases in the world, has committed to achieving carbon neutrality by 2030, by replacing coal-fired plants with renewable energy sources.
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-years, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan. Indonesia, which is one of the biggest emitters of greenhouse gases in the world, has committed to achieving carbon neutrality by 2030, including through the phase-out and replacement with renewable energy sources.
Japan and Peru agree to cooperate in mineral mining technologies - Nikkei
Nikkei, a Japanese business daily, reported on Saturday that the leaders of Japan will sign a statement on cooperation on mineral mining technology later this month. The aim is to strengthen their supply chains by using Japanese technology. Nikkei reports that Japanese Prime Minister Shigeru shiba will hold a bilateral with Peruvian leader Jose Luis Guajardo during his visit to Peru to attend the Asia-Pacific Economic Cooperation Leaders' Summit (APEC). Japan, a country with limited resources, has actively reinforced global supply chains of critical minerals.
US federal energy revenues to fall 10% by 2024 but remain among the highest ever
The U.S. Interior Department reported that federal revenue from energy production in public lands and water fell 10% to $16.4 billion during the last fiscal year. Interior Department announced on Friday. This was the fourth-highest year since 1982, and the lowest total since 2021. Biden's administration has implemented policies that will help the transition from fossil fuels to renewable energy sources, while reducing new leasing of federal lands. Donald Trump, the President-elect Donald Trump, has pledged to increase oil and gas production through a relaxation of regulations.
Mexican energy plan boosts state-owned power company and sets rules for private producers
Senior officials stated that the government's energy priorities include increasing state-owned CFE and setting rules for companies producing electricity using renewable sources. At a joint press conference with the president of the country, Claudia Sheinbaum said that private companies could add an additional 9,6 gigawatts to their capacity by 2030 using renewable sources. CFE's investment plan of $23.4 billion will see it add 13 gigawatts to its capacity, both for fossil fuels and renewables. CFE will spend $7.5 billion just on transmission infrastructure, as well as on transformers and substations.
Flexible LNG supply is needed to meet the variable demand for electricity.
Industry executives stated on Tuesday that Japan and other major LNG buyers want more flexibility to adjust to changing power demands. Qatar and other LNG suppliers prefer long-term agreements with buyers, which can last for decades. This is to secure funding for multi-billion-dollar projects. In recent years, with more producers entering into the global market, buyers have sought shorter-term contracts that allow them to resell their cargoes if demand is low. Jonathan Westby said at an industry conference that JERA Global Markets in Japan…
Flexible LNG supply is needed to meet the variable demand for electricity.
Industry executives stated on Tuesday that Japan and other major LNG buyers want more flexibility to adjust to changing power demands. Qatar and other LNG suppliers prefer long-term agreements with buyers, which can last for decades. This is to secure funding for multi-billion-dollar projects. In recent years, with more producers entering into the global market, buyers have sought shorter-term contracts that allow them to resell their cargoes if demand is low. Jonathan Westby said at an industry conference that JERA Global Markets in Japan…
US approves major geothermal projects on public land and seeks to support others
The Biden Administration announced on Thursday measures to expand geothermal power on U.S. Public Lands, including the approval of a large project located in Utah and steps to accelerate permits for discovering new resources. These moves align with the goal of President Joe Biden to eliminate emissions that contribute to climate change from the energy sector by 2035. The geothermal power is seen as an alternative to other traditional energy sources such as gas and coal, because unlike solar and winds, which are dependent on weather conditions, it can be used at any time of day.
EIA: US natgas production will decline in 2024 as demand reaches record levels, EIA reports
The U.S. Energy Information Administration's (EIA's) Short Term Energy Outlook, released on Tuesday, predicted that U.S. Natural Gas production would decline by 2024 and demand would rise to a new record. EIA projects that dry gas production in the US will fall from a record high of 103.8 billion cubic foot per day (bcfd), in 2023, to 103.5 bcfd by 2024. In March, the number of people who were unemployed fell to its lowest level in 32 years. EIA's projected production for 2025 is 104.6 bcfd.
Sweco will design one of Europe’s largest battery-based energy storage systems in Belgium
Sweco, a Swedish engineering consultancy, announced that it will design Green Turtle in Belgium, one of Europe's biggest battery energy storage systems. Sweco designed the battery park for the company GIGA Storage Belgium. Sweco stated that the park will make a significant contribution towards the grid, by storing renewable energy in times of low solar or wind energy production. This will reduce Belgium's dependence on gas-fired power plants. The Green Turtle battery park is planned to have a 700 megawatt capacity, equivalent to 385,000 homes' average annual energy usage.
New Industry Minister: Japan will keep nuclear but boost renewables as part of its energy mix
Japan will continue to restart nuclear power plants safely and use as much renewable electricity as possible, said Industry Minister Yojimuto on Wednesday. This indicates that the policy of newly appointed Prime Minister ShigeruIshiba is not likely to change significantly. Ishiba had promised to eliminate nuclear power before he was elected leader of the Liberal Democratic Party. He was sworn into office on Tuesday. He was the sole candidate who opposed nuclear power in Japan. The country imports fossil fuels to produce two-thirds of its electricity.
Edison International says that California's climate goals will be met only with more clean energy. Edison International CEO says
Edison International's chief executive told reporters on Wednesday that to fully decarbonize California's electric grid, it will be necessary to use more clean energy sources, such as advanced geothermal, natural gas, and carbon-captured natural gas. California, the most populous state in the United States, has set itself a goal of producing zero net emissions through its electrical grid. Renewable energy sources such as solar and wind will play a major role in California's plans for power generation.
EIA: US natgas production to decline by 2024, while demand will rise to record levels
The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook for 2024 predicts that natural gas production in the United States will decrease in 2024, while demand will reach a new record. EIA projects that dry gas production in the US will fall from a record high of 103.8 billion cubic foot per day (bcfd), in 2023, to 103.4 bcfd by 2024. This is because several producers have reduced drilling activities following spot gas prices at Henry Hub benchmark. In March, the number of people in poverty fell to its lowest level for 25 years. EIA's projected production for 2025 is 104.8 bcfd.
APPEC-India ONGC Videsh focuses on stakes in oil and gas assets amid energy transformation
The head of finance at ONGC Videsh said that the company is focusing on acquiring stakes overseas in oil and gas producing companies, as the shift to renewable energy will likely reduce the demand for conventional fuels. We are not interested in long-term projects, due to the energy transition. Anupam Agarwal, at the APPEC Conference, said that exploration was not a top priority for the moment. ONGC Videsh is the overseas investment arm for the top oil and natural gas exploration company in the country, Oil and Natural Gas Corp. It has stakes in 32 oil and gasoline projects in 15 different countries.
