Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they have colluded over decades to prevent competition from renewable energy sources, including?electric cars. The lawsuit filed in U.S. District Court, western Michigan, names BP and Chevron. It also names ExxonMobil, Shell, and the American Petroleum Institute. The lawsuit said that the companies had acted as a "cartel, agreeing to limit the production and distribution electricity…
ContourGlobal, owned by KKR, enters Greece through solar and battery acquisitions
KKR's energy group ContourGlobal announced on Friday that it has entered the Greek renewables markets?with a portfolio of solar plants? and 500 megawatts of?battery -energy storage? projects. The agreement includes 26 solar plants that will generate approximately 51 gigawatt-hours (GWh) of electricity per year, enough to power 15,000 Greek homes for an entire year. Quest Energy, part of Quest Holdings, owned the assets. ContourGlobal announced that it also acquired full ownership of six battery storage projects via two transactions with Spain’s FRV, and Greek developer Zephiros.
US cuts or revises nearly $84 Billion in Energy Loans
The Trump administration announced on Thursday that it will be restructuring or eliminating approximately $84 billion worth of clean energy?projects which were funded by the former president Joe Biden's administration. This is the latest move by President Donald Trump's administration in favoring fossil fuels, nuclear energy and eliminating subsidies for renewable energy sources like wind and solar. The Office of Energy Dominance Financing (EDF) made the changes after reviewing the $104 billion worth of?loans that were made under the Biden administration.
Masdar and Engie, both from the UAE, reach financial closure on the 1.5 GW Khazna Solar Project
Masdar, a UAE-based company, and Engie, a French company have completed a 1.5-gigawatt project in Abu Dhabi. They secured financing from seven banks including the?Abu Dhabi Islamic Bank? and?Credit Agricole Corporate? and?Investment Bank?. According to the companies, this group includes KfW IPEX as well as BNP Paribas and HSBC. Abu Dhabi's Emirates Water and Electricity Company awarded Engie and Masdar this project in October. The companies signed a 30-year Power Purchase Agreement. The partners will finance, design, build, and operate the plant in the Al Khazna region of Abu Dhabi.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are ten charts that explain what happened in the year 2025, and what this might mean for 2019. Donald?Trump’s "America First " agenda was a key driver of market growth in 2025, particularly during the first half. The U.S. President wasted no time in delivering on campaign promises to move?from "free" trade to "fair trade". The Baker-Bloom David model measures the uncertainty of U.S. Trade Policy.
What just happened? Ten charts that will help you understand the market in 2025
The past year will not be forgotten soon. The conventional wisdom about investor behavior and economics was often challenged in 2025 as technology, energy, and geopolitics influenced markets in unexpected ways. Here are 10 charts to help you understand what happened in the year 2025, and what that might mean for 2019. Donald Trump's?America First? agenda was a key market driver for 2025, particularly during the first half of the calendar year. The U.S. President wasted no time in delivering on his promises made in his campaign to switch from "free" trade to "fair" trading.
In Poland's 2030 climate plan, renewable energy will make up 51-53% of the power mix.
The energy ministry said that Poland aims to have 51%-53% of its electricity mix made up by renewable energy sources by 2030. This is according to a draft version of the national energy and climate plans, which Warsaw will submit to the European Commission. The range of policy scenarios is higher than the 30% Poland announced a year ago, but still slightly lower than the 56% Poland predicted a year ago, as natural gas will now be used to generate more electricity. By 2040, it is projected that the share of renewables will rise to between 65% and 68%.
Trump removes the word "renewable" from the title of U.S. Energy Lab
In a latest attempt to devalue renewable energy sources like solar and wind, the Trump administration renamed an energy laboratory to remove the term "renewable". The National Renewable Energy Laboratory in Golden, Colorado will be known now as the National Laboratory of the Rockies. This was announced on the lab's website late Monday. It is one of 17 Energy Department laboratories that also conducts energy efficiency research. The U.S. leaders who set it up included two of President Donald Trump’s Republican colleagues. In the 1970s, after the Arab Oil Embargo damaged the U.S.
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.
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…
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…
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.
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.
Singapore allocates more land to green energy and data centre park
Singapore has allocated more land to its manufacturing hub Jurong Island for renewable energy and data centres, according to a statement released by the Singapore Economic Development Board (SEDB) and JTC Corporation on Monday. The agencies have announced that about 300 hectares (741.32 acre) of land, or roughly 10% of Jurong Island, will be reserved for renewable energy projects and low carbon fuel production. Two of Singapore's three refineries, operated by Exxon Mobil Chevron, and PetroChina, are located on the 3,000-hectare Jurong Island.
Singapore allocates more land to green energy and data centre park
Singapore has allocated more land to its manufacturing hub Jurong Island for renewable energy and data centres, according to a statement released by the Singapore Economic Development Board (SEDB) and JTC Corporation on Monday. The agencies have announced that about 300 hectares (741.32 acre) of land, or roughly 10% of Jurong Island, will be reserved for renewable energy projects and low carbon fuel production. Two of Singapore's three refineries, operated by Exxon Mobil Chevron, and PetroChina, are located on the 3,000-hectare Jurong Island.
Colombia wins offshore wind bid by CIP of Denmark
The head of Colombia's hydrocarbons agency announced on Thursday that a subsidiary from Denmark's Copenhagen Infrastructure Partners, CIP, had bid to develop a wind project for the first round of the South American nation's offshore energy auction. Orlando Velandia of Colombia's National Hydrocarbons Agency, ANH, said that CIP subsidiary CI GMF Cooperatief U.A. ANH did not immediately provide details of the offer. ANH did not immediately disclose details of the offer. Velandia, who spoke at a Cartagena forum…
Senator: US energy prices will spike due to Trump's decision to cut grants
The Trump administration’s plans to cancel nearly eight billion dollars in Energy Department grants is illegal, because contracts were already signed. It will also cause consumer energy costs to skyrocket. The Energy Department cancelled $7.56 billion of funding for clean energy project earlier this month because it did not believe that the projects would provide enough return to taxpayers. Senator Martin Heinrich from New Mexico stated that these projects would have increased energy and flexibility to the grid. "The administration is limiting the amount of energy we can put onto the grid.
Portugal's proposal on grid returns for EDP still lags behind European peers
Portugal's energy market regulator ERSE announced on Thursday that it would increase the returns on the grid assets of EDP, the country's biggest utility. However, the proposed return is still below what EDP's counterparts in other European countries enjoy. The crippling blackout which hit Spain and Portugal in April has reignited the debate on investments and remuneration of power networks, as well as their integration with renewable energy sources and to meet higher demand for power, such data centers.
Report: Global renewable energy growth is still short of climate targets despite record global growth
Globally, renewable energy capacity reached a record high in 2016, but countries still fell short of the U.N. goal of tripled capacity by 2030. This was revealed by a report released by global renewable groups on Tuesday. At the COP28 Climate Summit in Dubai, 2023, more than 100 countries agreed to triple their renewable energy capacity in 2030 in order to achieve global climate targets. The report, by the International Renewable Energy Agency and the Global Renewables Alliance, as well as the COP30 Brazilian presidency, tracks progress toward meeting the goal and comes before this year's COP U.N.
Maguire: Italy's economic troubles have an upside for the moment, a positive climate.
The persistent economic crisis in Italy has led to the lowest emissions in its power sector for decades. Climate activists need to be aware that economic measures could cause a rapid U-turn on pollution trends. Italy has been experiencing economic stagnation for over a decade. This has resulted in a steady decline of goods produced and exported, and lowered power consumption among many businesses. The lower power demand by industry allowed Italy's utilities, which were once a nation that ranked among the top 10 polluting nations…