Statkraft and OX2 battery deal in Finland to smooth out wind power volatility
Statkraft, the Norwegian state-owned utility, announced on Wednesday that it had signed an agreement for power purchase (PPA) to buy two battery energy systems (BESS), developed by Sweden's OX2 and installed in Finland where wind power has been expanding rapidly. Batteries of large size are essential to managing intermittent renewable energies such as wind energy. They help ensure supply reliability by charging when output is high, and emptying them when wind production drops.
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed a crucial energy transition threshold by installing more clean power than fossil fuel production capacity for the first. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean energy generation capacity operating in 2025. This compares to 1,420 GW?of fossil fuel-fueled capacity. China now draws 51% of its energy from clean sources, surpassing Brazil, France, and Germany, as the major economies that are primarily fueled by clean energy sources.
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed an important energy transition threshold by installing more clean power generation capacity than fossil fuel generation capacity. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean power generation in operation by 2025. This compares to the?1,420-GW capacity powered by coal, gas, and other fossil fuels. China has now a 51% share of its energy fleet that is derived from clean sources. It joins Brazil, France, and Germany as major economies that are primarily powered by clean sources.
Maguire: China tightens its grip on clean tech with growing exports of EVs.
China's position as the world leader in clean technology is best illustrated by its EV exports. These will reach nearly $70 billion dollars in 2025, and span over 150 countries. Electric vehicles are a major part of China's manufacturing industry, and millions of people work in the various supply chains that support?clean cars? and their components. Over half of new cars in China are EVs. But as the domestic market slows, China's EV industry is likely to become more dependent on foreign markets. This will be true even if trade tensions arise with other countries.
Maguire: China tightens its grip on clean tech with EV export growth.
China's position as a global leader in clean technology is best illustrated by its massive EV exports. These will reach nearly $70 billion dollars in 2025, and span well?over 150 different countries and territories. Electric vehicles are a major part of China's manufacturing industry, and millions of people work in the various supply chains that support clean cars. Over half of new cars in China are EVs. But as domestic demand declines, the country's EV industry is likely to be more dependent on foreign markets.
Ukraine needs an energy ceasefire, says top power executive
The head of Ukraine's biggest private power producer said that the country is on the verge of a "humanitarian disaster" due to Russian airstrikes against energy systems. Any future peace agreement must include an end to attacks on energy infrastructure. Maxim Timchenko said that Russia, which invaded Ukraine in full force almost four years ago, has been conducting an "energy terror campaign" since October 2025. This includes attacking power stations and overpowering air defence systems. Authorities say that the capital Kyiv, as well as its surrounding areas, are among those most affected.
Energy operator warns of emerging risks to UK gas supply as demand declines slowly
The energy operator in Britain warned on Wednesday of possible shortages during the coldest months. In its first assessment of gas supply security since being established last January, the National Energy System Operator stated that while overall demand for gas will decrease as Britain decarbonises it will be slower at peak times. This could pose a risk if progress in cutting emissions stagnates or if major infrastructure is faulty. The report, which is a look ahead at winters 2030/31…
Made in Nigeria: Africa's drive to become a solar superpower
In pink overalls they pack the tested products to be shipped from the Salpha Energy solar assembly plant near Calabar, West Africa. It's not happening at home anymore. Salpha Energy, which began in 2017, has produced solar power systems for over two million Nigerian households and businesses. It aims to produce up to 300,000. Salpha Energy is part and parcel of the green leadership that Africans attending the U.N. COP30 Climate Summit in Brazil want to promote and showcase. Carlos Lopes is the special envoy of the COP30 Presidency for Africa.
Ukraine increases imports of US Liquefied Natural Gas via Poland during heating season
Naftogaz, the Ukrainian state-owned oil and gas company, said it would increase imports of U.S. Liquefied Natural Gas through Polish firm Orlen WA as well as U.S. Partners to ensure supply for the winter amid continued Russian attacks on the energy systems. In a press release, CEO Serhiy Koretskyi stated that the imports will total at least 30 million cubic metres. Koretskyi stated that "we will sign the contract soon with credit leverage and insurance instruments." The agreement was signed at a transatlantic conference on energy in Athens.
Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC
Global finance leaders discuss the new era of energy investment defined by pragmatism, diversification and strategic capital allocation Industry leaders urge fundamentals-based planning amid global volatility, with stable, sound and clear policy frameworks identified as key investment landscape criteria Liquefied natural gas, methane and carbon reduction innovations and emerging markets identified as key investment frontiers Organisations whose speakers shared finance insights at ADIPEC 2025 included Moeve…
Sponsored: Energy Sector Urged to Scale AI Adoption at ADIPEC
Day two's theme 'The Technology Leap: Redefining Energy Leadership' underscored how strategic AI adoption and digital innovation are reshaping energy leadership, with industry voices calling for coordinated investment to unlock transformation at speed and scale Experts debated AI’s role in boosting efficiency, enhancing resilience and unlocking investment while addressing the balance between AI’s potential and its impact on energy demand Key speakers included Jack Hidary CEO, SandboxAQ; Dr.
Sponsored: Policy, AI, and Capital Take Center Stage at ADIPEC 2025
ADIPEC 2025 kicks off in Abu Dhabi with a powerful message from Dr. Sultan Al Jaber for a balanced and inclusive approach to meeting energy demand, built on reinforcement, not replacement. Opening addresses and high-level sessions featuring CEOs and ministers spotlighted the importance of embracing all energy sources, all technologies, and all systems that enhance energy resilience and provide the world with prosperity for all. Day 1 highlights included discussions on the convergence of energy and artificial intelligence…
Vestas' operating profit for the third quarter of 2013 exceeds expectations
Vestas, a manufacturer of wind turbines, reported a third-quarter operating result above expectations on Tuesday. This was driven by a good performance in its onshore operations. The stronger-than-expected result suggests Vestas is successfully executing a turnaround after years of losses, managing to pass on higher costs to customers and improve profitability even as the wider wind industry faces severe headwinds. The Danish company announced a 77% increase in operating profit from July to September before one-offs…
Honda Motors acquires a stake in India's OMC Power for the development of clean energy batteries
Honda Motor, a Japanese automaker, has acquired an equity stake in India's OMC Power. The company is backed by Mitsui & Co. and Chubu Electric Power. Honda did not disclose the exact size of its equity stake in India's clean energy sector. This will be Honda's debut foray. Distributed energy systems can power smaller sites or areas at a lower scale. They can be connected to the grid or disconnected from it. OMC Power has more than 500 renewable power plants in North and Central India.
McKinsey: Fossil Fuels will dominate the global energy usage beyond 2050
According to a McKinsey study, oil, coal and gas will dominate the global energy mix long after 2050. This is because the demand for electricity continues to grow faster than the transition to renewables. The continued use of fossil fuels is a major obstacle to reaching global climate targets. The report states that the main reason for the increase in electricity demand is a 20-40% projected rise from the building and industry sectors by 2050. North American data centres are seen as the major contributors. Natural gas use for electricity production is expected to increase significantly.
Analysts say that China has set a renewable energy goal which it can easily exceed.
The climate goals that China made public on Tuesday promise to continue expanding renewable energy. It has done so at an accelerated pace. However, there is no commitment from China to increase its share of power generation or reduce coal. In announcing China's first goals for carbon reduction, President Xi Jinping stated that China's wind and solar energy capacity would be increased six-fold from the levels of 2020 to 3,600 gigawatts in 2035. Analysts say that China's tendency to set goals they know it can achieve is evident in its achievement of the 1…
EU Targets Power Grid Bottlenecks to Lower Prices, Improve Security
The European Union will prioritise fixing eight power grid bottlenecks, the Commission President said on Wednesday, in an effort to lower the bloc's uncompetitive energy prices and improve energy security."I am presenting today a new initiative called Energy Highways. We have identified eight critical bottlenecks in our energy infrastructure. From the Oresund Strait to the Sicilian Canal," European Commission President Ursula von der Leyen said in her State of the Union address…
German industry lobby warns energy transition could cost 5.4 trillion euros by 2049
The German Chambers of Industry and Commerce said that the current German energy transition strategy would cost up to 5.4 trillion euro ($6.3 trillion) in 2049. This could be a heavy burden on businesses and households, and reduce their competitiveness. Berlin wants to achieve climate neutrality by 2045 by covering 80% of its energy needs with renewable sources by 2030. Electricity prices are among the highest in Europe despite the strong growth of wind and solar power in recent years. With the current policy the energy transition will not succeed.
Russia Strikes Ukrainian Gas Interconnector
Russia has struck a gas pumping station in Ukraine's southern Odesa region used in a scheme to import LNG from the U.S. and Azerbaijan, undermining preparations for winter, Ukrainian officials said on Wednesday.President Volodymyr Zelenskiy said the gas infrastructure had been attacked in the village of Novosilske on the border with Romania, where the Orlovka interconnector, through which Ukraine receives gas via the Transbalkan route, is located."This was a deliberate blow to our preparations for the heating season…
Sunnova sells part of its solar panel business to Omnidian at $7 million
Sunnova Energy announced on Wednesday it had agreed to sell to Omnidian a portion its residential solar business for $7 million cash and the assumption of certain liability as part of a "stalking horse" deal. Sunnova, the U.S. residential solar panel installer, filed for bankruptcy last month as it struggled with mounting debt. The industry is also facing challenges, such as higher interest rates and reduced incentives in California. Sunnova's bankruptcy filing estimated that its assets and liabilities were between $10 billion and $50 billion.