Babcock & Wilcox receives approval for a $2.4 billion project that will power AI campuses
Babcock & Wilcox announced on Wednesday that a company backed by Applied Digital has approved their $2.4 billion 'deal' to supply?equipment for the artificial intelligence campuses of the technology firm. After Base Electron announced the final notice of the 1.2 gigawatt project, Babcock shares surged by nearly 23% during premarket trading. The U.S. demand for power reached record levels in 2025, and it is expected to increase this year as major technology companies rapidly expand their data centers.
What's in the EU Buy-European Law?
On Wednesday, the European Commission proposed new rules that require a minimum percentage of public funds to be spent in Europe on electric cars, windmills, and other "key technologies" when they are purchased or manufactured. Why do it? The "Industrial Accelerator Act" is part of the EU's efforts to help local industry compete with foreign producers who are not subjected to Europe's strict regulations and higher prices for energy. It aims to avoid losing green tech industries, such as solar panels, to China.
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
The U.S. president?Donald Trump will meet with leaders of technology companies on Wednesday, including 'Google, Meta and OpenAI. They are expected to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth of data centers that use a lot of energy. The White House announced that the "Ratepayer Protection Pledge" announced by Trump during his State of the Union Address would see tech companies…
Trump meets with tech giants to discuss energy pledges ahead of midterm elections
U.S. president Donald Trump will'meet with leaders of major technology companies on Wednesday, including Google, Meta and?OpenAI to formalize an agreement to protect consumers from the rising costs of electricity due to the rapid growth in energy-intensive data centres. The White House announced that the "Ratepayer Protection Pledge" announced by Trump during his State of the Union Address would see tech companies commit to measures…
EU urges green steel to be available in limited quantities as a fix for auto emissions
Buy expensive steel that is made using a new technology powered by green hydrogen, which barely exists? Under European Union plans, 'Europe's' automakers are facing this prospect, who are already under pressure due to the intensifying competition from 'China', as the bloc aims to boost its'steel' industry while still meeting environmental targets. The EU has changed its CO2 emission targets for new cars to 90% by 2035, from 100% earlier. This is a shift from the previous 100% target.
EU pushes for green steel, a scarce metal, to fix auto emissions
Buy expensive steel that is made using a "nascent" technology powered by green hydrogen, which barely exists? Under European Union plans, which aim to bolster the steel industry of the EU while still meeting?its environmental targets, this is what Europe's automakers face. They are already under pressure from a fiercer competition in China. The EU changed its CO2 emission targets for new cars in December to 90% by 2035, from 100%. This was a shift from the earlier 100% target.
Draft shows EU scraps steel emission label from "Made in Europe" law
A draft proposal revealed that the European Union had scrapped plans to include an emissions label for steel in its "Made -in Europe" legislation. The plan was originally intended to make green steel a central part of efforts to revitalize industries. A last-minute amendment to a proposed law, officially named EU's Industrial Accelerator Act on Wednesday, would be a major blow for low-carbon steelmakers. The label would help make their products more attractive and visible to consumers.
Wall Street closes with a narrowly mixed result, but trading is volatile following air strikes on Iran
U.S. stock prices ended Monday close to flat after a volatile session that saw shares fall early following the weekend's?U.S. Israeli air strikes against?Iran.?But there were bounces all day long as investors bought dips. The coordinated U.S.-Israeli strikes against Iran last weekend resulted in the death of Tehran's Supreme leader, and shocked global markets. Oil prices rose and many overseas stock indexes ended lower. Investors in the United States who were looking for bargains bought at the dips following the initial sell-off.
Wartsila CEO sees boost from Trump Datacenter Push
The CEO of the Finnish energy company said that a push to have U.S. datacentres use their own power would boost the demand for Wartsila’s environmentally friendly products and?help support a "double digit" increase in the hiring of service staff over the next 2 years. The White House announced on Wednesday that it will meet with technology companies such as Microsoft and Amazon on March 4, to discuss a plan for protecting consumers from rising energy costs linked to the surge in demand?for AI-focused, datacenters.
Technip's chief claims that the floating wind market is'much smaller than expected'
Technip Energies CEO Arnaud Pietten said that the demand for floating wind turbines was much lower than it had been only three to five years ago. This reflects a broader concern across the wind industry. Ekwil is Technip and SBM Offshore's joint venture that focuses on "floating wind energy solutions". It will be there when projects are made. Pieton, in a call with reporters following the earnings announcement, said that there were very few projects at present.
US provides historic $26.5 billion loan to Southern Co subsidiaries
The?U.S. The Energy Department announced on Wednesday that it has provided a loan of $26.54 billion to'subsidiaries' of Southern Co in order to improve grid reliability. This is the largest loan ever offered by its loan office. According to the Energy Department, this financing will allow power customers in Georgia & Alabama to save more than $7 billion. Southern announced last year that it would freeze power bill increases for three years. Negotiations over loans made the company's decision possible, according to the?department.
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave. The ambitious U.S.
The US imposes preliminary duties on solar imports originating from India, Indonesia and Laos
The U.S. Commerce Department announced Tuesday countervailing duty?on solar panels and cells imported by a?companies from India, Indonesia, and Laos?in an effort to counter subsidies supporting Asian industries. The decision was made by U.S. Trade officials who sided with the domestic solar factory owners, finding that the companies in the three countries had received government subsidies which rendered American products uncompetitive. This is the latest in an ongoing series of duties on solar imports that are mostly made by Chinese firms.
As global pressure increases, German Chancellor Merz travels to China in search of opportunities
The German Chancellor Friedrich Merz is visiting China this week. He's the latest European leader to seek a reset of relations with Beijing following a year which exposed the fragility in their supply chains and the collapse of their alliance with the U.S. Merz is making his first trip to China as a?chancellor' and leads a delegation that includes some of Germany’s top business leaders. This includes the heads of carmakers Volkswagen BMW and Mercedes-Benz.
As global pressure increases, German Chancellor Merz travels to China in search of opportunities
The German Chancellor Friedrich Merz is visiting China this week. He is the latest European leader to seek a reset of relations with Beijing following a year which exposed the 'crumbling' of their alliance with?the United States. The collapse of their alliance with the United States was exposed in a year that revealed vulnerabilities within their supply chains. Merz is leading a delegation that includes some of Germany's top business leaders. This includes the heads of Volkswagen, BMW, and Mercedes-Benz.
Investors on edge as tensions over tariffs and inflation data keeps investors on edge
Investors remained 'cautious' ahead of important?domestic data and sought clarity about the latest tariff salvo. The S&P/ASX 200 index closed little changed at 9.022.30 points. The benchmark index had closed 0.6% lower Monday. Local markets remained in a wait-and see mode after U.S. president Donald Trump warned that he would increase duties on countries who reneged on recently negotiated trade deals. . Reserve Bank of Australia, the…
Premier Energies, India's solar company, is targeting Europe and the US, according to its executives
Two senior executives from India's Premier Energies said that the company plans to concentrate on exports, with buyers diversifying their supply chain away from China. This is a major change for the domestically focused solar equipment supplier. Western companies have been prompted to create new supply chains by tariff?concerns and concerns about over-reliance on a single manufacturing center. This has opened up opportunities for Indian manufacturers. Premier Energies has a fully-booked order book for the next 12-18 months.
NYT: Trump's ally Novatek signs deal with Russia on natural gas in Alaska
The New York Times reported that American financier 'Gentry Beach', who is a close friend of Donald Trump's family, had signed an agreement last fall with Russia's Novatek to develop natural gas for Alaska during the Western sanctions against Russia. Trump and Russian President Vladimir Putin held talks in Alaska in August to end Russia's war against Ukraine. On the sidelines of negotiations, U.S. officials and Russian officials discussed a number of?potential deals in energy.
What is the current status of international oil companies operating in Venezuela?
Here are some key facts about the international oil companies operating in Venezuela. The country has vast oil reserves, but a dilapidated infrastructure. Hugo Chavez, the then president, expropriated foreign oil companies in the 2000s to strengthen the control of the PDVSA, the state-owned oil company, over the oilfields. The U.S., after capturing President Nicolas Maduro, eased sanctions against Venezuela's energy industry this month…
Solar industry shifts away from silver due to rising costs
Solar panel producers are intensifying their efforts to replace the silver in solar panels with copper, after the price of silver has risen?130% during the last year. This is putting pressure on margins, which were already under pressure due to overcapacity. Derek Schnee, Senior Commercial Solar Consultant at JK Renewables said that silver is the biggest contributor to the increase in the cost of manufacturing solar panel. He added that the cost has increased by 7-15% within the past year.