OECD: Nuclear and onshore wind are the cheapest ways to meet Sweden's energy needs
The OECD Nuclear Energy Agency stated on Wednesday that expanding nuclear and onshore winds power was the cheapest option for 'Sweden' to meet its surging electricity demands, with no?place left for offshore wind. Sweden aims to achieve a 'net zero emission level by 2045. Electricity demand will double as industries like steel and transport switch to cleaner energy. According to the NEA base case, Sweden will have 13 GW of nuclear power installed and 30 GW of onshore wind by 2050. The same system cost could be achieved by using 8 GW?to 19?GW of nuclear power, and 10 GW?to 55?GW?of onshore winds.
Allianz GI acquires a 50% stake in German battery projects from TotalEnergies
TotalEnergies, the French oil giant, has sold to Allianz Global Investors a 50% share in?11 batteries projects in Germany that are under construction. The companies announced this on Tuesday as the interest in Germany's rapidly growing renewables market grows. The value of the transaction was not disclosed by the companies. The pair said they would invest 500 million euro ($581million) to finish the construction. 70% of that amount will be funded by debt. The project will have 789 megawatts of power and be operational in 2028. Total's goal to build 100 gigawatts gross installed renewable power by 2030 is a top priority.
California's top air regulator: Trump opposes tax credits and EV regulations, but California is accelerating work on them.
California's top air regulator announced that officials will meet with Detroit automakers to discuss the next phase in greenhouse gas regulations for vehicles and trucks. California is fighting President Donald Trump in the U.S. Congress and in?the court against his efforts to dismantle federal vehicle emission standards. Lauren Sanchez, Chair of the California Air Resources Board and Governor Gavin Newsom, said in an interview that Newsom will announce next week details of a $200 million "electric" vehicle incentive program. The program is intended to fill the gap created by Trump's budget bill…
Gas subsidies for the government are shrinking in China's North, causing villagers to shiver.
He Wenxiang, a 72-year old farmer, sits on his bed, wearing several layers, including a fur-collared black jacket and a hat. He removes the thermometer from the wall, which reads "about 14 degrees Celsius" (57 degrees Fahrenheit). Despite temperatures outside of minus one C (30 F), he only runs his gas heater?occasionally in order to?warm the radiator in his room. He said, "Life isn’t easy." If it got any colder, you wouldn't be able to take it. He is just one of many people in his village, located in the province of Hebei, south of Beijing in China, who are choosing to barely heat their houses because of rising gas prices.
Toda begins commercial operation of Japan’s first floating windfarm
Toda Construction announced on Monday that their consortium had started 'commercial operations' at the Goto offshore?wind?farm located in Nagasaki,?southern?Japan. This marks the country’s first commercial floating?wind project. The floating wind farm, which has a capacity of 16.8 megawatts (MW), is the first facility to be certified by a new law enacted by the land and industry ministries to promote the sector. Japan wants to increase its renewable energy capacity in order to meet the 2050 goal to become carbon neutral. The Goto Floating Wind Farm Consortium…
FEATURE-AI data explosion in Mexico fuels rise of dirty energy
The country's power infrastructure is overloaded and pollution has increased due to the shortfall in green power, despite promises by government and industry to increase capacity. The data centers are huge warehouses that are the size of Olympic stadiums. They sprawl over industrial parks and house hundreds of servers, which consume a lot of energy. These servers power the most powerful technology companies, like Microsoft, Google, and Amazon. The report stated that while Microsoft waits for the connection to Mexico's struggling power grid, it uses seven natural gas generators to provide 10.5 megawatts per year.
Venture Global and Tokyo Gas Sign 20-year LNG Supply Deal
Venture Global, a U.S. LNG exporter, has signed a deal for Tokyo Gas to receive 1 million metric tonnes per year (mtpa), starting in 2030. Venture Global has now signed its fourth long-term LNG contract with a Japanese firm. The U.S.-based company announced in a Wednesday statement that it had signed LNG long-term contracts totaling 7.75 mtpa over the past six months. This move shows that Japan is increasing its energy purchases from the United States, while President Donald Trump pushes for increased U.S. exports of LNG to support domestic producers as well as improve trade balances with Japan.
Exxon freezes plans for major hydrogen plant amid weak customer demand
Exxon Mobil has halted plans to build one of the largest hydrogen production plants in the world due to low customer demand, CEO Darren Woods said in an interview with Business Insider on Friday. The project's suspension, which was already delayed, reflects the slowdown of efforts by oil and gas companies to switch to cleaner energy sources, as many initiatives are struggling to make a profit. Donald Trump, the U.S. president, had also cut funding for green projects to concentrate on fossil fuels. Exxon, the oil major, announced in 2022 plans to build a plant in its Baytown, Texas refinery and chemical complex.
AGL Australia to reduce jobs as part of Clean Energy Push
AGL, Australia's largest energy producer, announced on Friday that it would cut jobs in order to transition towards cleaner energy. It also plans to close its coal-fired plants by the mid-2030s. A spokesperson for AGL said: "We need to make sure that our current business is productive and competitive on this market, while continuing to invest in the business of tomorrow. The Australian newspaper reported that the total number of roles cut could reach 300. A spokesperson for AGL did not specify how many of the 4,200 total jobs that AGL employs would be eliminated.
First Solar's sales exceed expectations, and the company plans to open a second US factory
First Solar, the largest U.S. solar panel manufacturer, exceeded expectations for third quarter sales on Thursday. This was due to robust demand for their products. Their shares rose more than 5% during extended trading. Solar-generated electricity has become one of the fastest growing segments in the U.S. Energy Industry, due to the strong demand of corporations and government agencies for cleaner energy sources and climate change. First Solar announced that it would build a 3.7 GW manufacturing plant in the U.S. Production is expected to begin at the end 2026, and increase through the first half 2027.
First Solar's robust sales beat expectations in the third quarter
First Solar's shares rose more than 5% on extended trading after it beat third-quarter expectations. This was due to robust demand for the company's products. Solar-generated electricity has been growing at a rapid rate in the U.S. Energy Industry, driven by the strong desire of corporations and government to use cleaner energy sources and fight climate change. The company announced that it would build a new production facility of 3.7 GW in the U.S. Production is expected to begin at the end 2026, and increase through the first half 2027. The company posted a profit for the third-quarter of $455.9 millions, or $4.24 a share.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year, from the multi-decade highs set in 2022, after sanctions against Russia slowed negotiations. However, a rebound followed, as well as long-term LNG demand and domestic sales, have kept global buyers interested.
Philippines boosts gas-powered and renewable capacity to meet surge in demand
The Philippines' energy secretary stated on Friday that it expects increased gas-fired power generation and renewable energy to help fuel a projected 6,6% growth in demand for power over the next two year, reducing dependence on coal. In an interview conducted on the sidelines the ASEAN Energy Ministers Meeting, the country's energy secretary Sharon Garin said that the country would continue to increase gas usage for power generation. It also plans to add additional gas-fired capability to meet the rising demand. The gas supply chain is the main constraint. She added that there are no turbines.
Brookfield invests $5 billion in Bloom Energy to support fuel cells for AI data centers
Brookfield Asset Management announced on Monday that it would invest up to five billion dollars in Bloom Energy fuel cell technology for data centers. Companies are looking to cleaner energy sources to meet the demands of artificial intelligence. Bloom Energy shares were up 31% in premarket trading at $113.72. As they spend billions on building and expanding their data centers, companies are looking to clean power sources like nuclear, renewables, and fuel cells to meet the demand for AI, Cloud Computing, and digital services.
South Africa coal heartland is home to a small solar city
Even though the locals are coughing up grey smog, coal keeps them at work, heats their homes during winter, and cooks dinner. Now, however, things are slowly beginning to change. South Africa, one of the largest coal exporters in the world, has launched a plan that will wean itself off coal pollution and embrace green industries to create jobs. Solar bricks - stackable lithium-ion batteries charged by sunlight - are used to power lights and mobile phones in almost every Nomzamo home. Nomzamo, despite only having 412 households in its program, sees it as the beginning of a major green shift for the country.
New Fortress Energy signs $4 billion LNG contract in Puerto Rico
In a social media post posted on Tuesday, Governor Jenniffer Gonzalez announced that Puerto Rico had negotiated a $4 Billion liquefied gas contract with New Fortress Energy. The contract, which was signed after the talks on a larger contract in July broke down, has a term of seven years instead of 15 years, with an option to extend it for three more years. It also eliminates exclusivity clauses. Gonzalez stated that the prices of LNG cargoes are more competitive and some premiums have been reduced. This agreement will help Puerto Rico make the transition to cleaner energy, and reduce its dependence on fossil fuels.
US Energy Secretary downplays climate risk as Washington seeks EU Gas Deals
Chris Wright, the U.S. Energy secretary, downplayed climate change risks on Thursday as he promoted Washington’s return to a “commonsense policy” while the Trump Administration worked to increase oil and gas exports to Europe and other allied countries. Wright spoke with reporters in Brussels after he met the European Union energy commissioner Dan Jorgensen. U.S. Doug Burgum, the Interior Secretary of the United States, was also in Europe last week to sign energy deals. Washington is hoping that these agreements will increase its influence in Europe while reducing Russia's.
INSTANT VIEW - Teck and Anglo forge a $53 billion mining giant to bet on the surging demand for copper
Anglo American, a London-listed company, and Teck Resources, a Canadian firm, will merge for $53 billion, both companies announced on Tuesday. This is the largest mining deal in over a decade. Anglo Teck will have its headquarters in Canada and a primary listing on the London Stock Exchange, according to the companies. The merger will change the game for Anglo American. We believe that the merger of these two companies will result in the creation of a major copper-producing company, comparable to Escondida, and superior to Antofagasta. The combined company would also have some iron ore, zinc, and premium iron ore diversification.
Nigeria's TotalEnergies deal marks shift to gas development
The Nigerian production-sharing agreement with TotalEnergies will be a model for future agreements, according to the oil regulator. It is the first contract based on a new law aimed at boosting the gas production of the OPEC country. The Petroleum Industry Act of 2021, which recognised the economics of oil exploration and production, was followed by incentives from government such as tax credits for gas-only development and allowances to invest. The agreement reached by the French energy giant and its local partner, on September 1, concerns oil and gas exploration licences granted last year in the Niger Delta Basin.
First Solar increases its annual sales forecast, expecting higher prices due tariffs
First Solar increased its annual sales forecast for Thursday as the U.S. manufacturer of solar panels expects higher prices after additional tariffs against foreign-made products. After the bell, shares of the Tempe-based Arizona company rose by over 4%. Solar industry is bracing itself for the impact of U.S. president Donald Trump's policies on renewable energy and his plans to impose a tariff on most imports. The U.S. tariffs will improve the outlook of solar companies, even though Trump's tax and spending bill, dubbed "One Big, Beautiful Bill Act", aims to phase-out solar and wind tax incentives by 2028. First Solar and other U.S.