Japan tightens regulations on mega-solar project to protect landscape and nature
Officials from the Japanese government have announced that they will tighten regulations, and stop financial support for large-scale projects of solar energy to protect the?environment and preserve landscapes. This is part of the package of countermeasures against mega-scale solar farms that was endorsed by the Japanese government on Tuesday. It also aligns with Prime Minster Takaichi, who has called for limits to large solar projects. She argued that most panels are manufactured overseas, particularly in China, and mega-solar farms risk damaging Japan's natural environment and scenery.
WSJ reports that BP is close to selling its majority Castrol stakes to Stonepeak
The Wall Street Journal reported on Tuesday that BP was close to selling a majority of Castrol's shares to Stonepeak, an investment firm. This deal values BP's lubricants division at $10 billion including debt. The report cited people familiar with this matter as saying that London-listed BP will sell a 65% share in its Castrol division to Stonepeak for approximately $6 billion. Financial Times reported on the matter, citing sources. It also stated that BP would retain a minor stake in a joint-venture, valuing its century-old lubricants 'and engine oil business at around $10 billion.
Japan will provide $1.3 billion of investment subsidies to clean-energy users
A government official announced late on Monday that Japan will provide 210 billion Japanese yen (1,34 billion dollars) to companies using clean energy to fund their investments. The goal is to increase demand for renewable energies and stimulate?growth throughout the region. The subsidies will help to reduce the country's reliance on fossil fuels and reach its clean energy goals. Juntaro Shimizu, Director of the Green Transformation Policy Group (GX) at the Ministry of Economy, Trade and Industry, stated that the scheme would provide funds for a period of?five fiscal years, starting in fiscal year 2026.
ComBio Brazil expects revenues to reach $430 million as corn ethanol customers increase production
Commercial director Ricardo Blandy, Brazil's biggest supplier of renewable thermal power for industrial clients, said that ComBio expects its revenue to triple to?about $430 million in five years due to the growing demand from corn ethanol producers. Blandy stated that there are?25 corn-ethanol plants in Brazil. Another 18 are currently under construction, and another 19 are still in the planning stages. Biofuel production is increasing, and biomass supply has become tighter. Blandy stated that in states such as Mato Grosso - Brazil's largest corn ethanol producer - the availability of biomass to feed steam boilers is a major issue…
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.
AI data explosion in Mexico fuels growth in dirty energy
The lack of green power, despite promises by government and industry to increase capacity, has overloaded and increased local pollution. Masheika Allgood is the founder of AllAI Consulting. She provides information on data center environmental impacts. 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, including Microsoft, Google, and Amazon.
Harbour Energy, UK, enters Gulf of Mexico LLOG market with $3.2 billion deal
Harbour Energy, a North Sea-focused company, announced on Monday that it will purchase deepwater oil exploration and production firm LLOG Exploration at a price of $3.2 billion. This marks its entry into the U.S. Gulf of Mexico. In a press release, Harbour said that the deal would consist of $2.7 billion in cash and $500 millions in Harbour's ordinary voting shares. Gulf of Mexico is a top target for oil'majors like BP, Shell, and Chevron due to its vast deepwater resources,?easy accessibility to U.S. Infrastructure, and long-term potential.
Battery boom sparked by China's energy reforms and global data centres
The Chinese energy storage manufacturers are booming as a result of the revamping of China's electric market. According to one estimate, Chinese firms will see a 75% increase in global shipments this year of lithium-ion batteries for energy storage. They have exported more than $65 billion worth of storage and electric-vehicle batteries this year, cementing their dominance in a sector vital ?to ?backing up wind and solar and keeping power coursing through artificial-intelligence data centres. Sales are driven by the growth of data centres, renewables in China and Chinese reforms that have boosted energy storage demand.
SSE's Transmission arm secures £1.34 billion UK-backed facility to Scotland power grid
SSEN Transmission, which is majority owned by SSE Plc has secured a?1 billion pound ($1.34billion)?12 year?bank facility to support major grid upgrades in Scotland, said the power company on Friday. The UK has set a goal to decarbonise the power sector largely by 2030. This will require "many more renewable energy plants, such as wind and solar," and a "huge increase" in grid infrastructure. The projects that are being supported include connecting Orkney for the first ever to the transmission grid and the Eastern Green Link, which will connect Peterhead, Scotland, to Drax, Yorkshire, England.
JETP estimates Indonesia requires $92 billion for decarbonising the captive power sector by 2050
In a recent report, the Just Energy?Transition Partnership stated that Indonesia will need to invest an estimated $31 Billion by 2030 and a total $92 Billion by 2050 in order to switch?to a greener energy sector in its captive power sector. In recent years, the captive power sector in Southeast Asia, which includes?electricity production?developed by industry for its own use, has expanded rapidly, especially in nickel industrial estates. According to the report, Indonesian JETP Secretariat estimates that captive power will reach 25,9 GW by 2024. Over 75% of this capacity is powered by coal. Nearly 11 GW is in various stages and will use coal.
BP appoints Woodside's Meg O'Neill to be CEO following Auchincloss' abrupt departure
BP, a major oil and gas company, announced that it has appointed Meg O'Neill as its 'CEO', effective April 1, after abruptly removing 'Murray' Auchincloss. O'Neill is the first CEO to be appointed by BP from outside of the company, and the first female to lead any of the top five oil companies in the world. Her unexpected appointment shows that the British oil giant is looking to improve its business, after years of lagging behind its competitors such as Exxon?Mobil?and Shell?. The company began a major shift in strategy earlier this year.
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%.
Italy's offshore-wind push is stagnant, putting climate targets at risk
Analysts say that Italian plans to harness the offshore wind power are coming to a grinding halt. This puts the country's goals for climate change at risk and hits firms who have invested in this sector. A government decree from 2024 offered incentives for 3.8 gigawatts of?capacity?by 2028. However, the contracts were never awarded due to bureaucratic and regulation hurdles. This has prevented billions of euro in potential investments. The August 2013 decree approved by the Italian government targeted renewable technologies like floating platforms that are suitable for deep Mediterranean water.
ReNew signs pact to build solar project of 150 MW in India with Google
India's ReNew Energy Global announced on Tuesday that it had signed a long-term deal with Alphabet to develop a 150-megawatt project in the western Indian state of Rajasthan. The agreement is in line Google's aim to be entirely carbon-free by 2030. India also wants to double the capacity of its non-fossil fuel power generation to 500 gigawatts before the end decade. Other?U.S. Other?U.S. tech giants, such as Amazon and Microsoft, are also signing large-scale renewable energy agreements globally to decarbonize their?energy-hungry?data centers.
Sonnedix secures contracts in Italy for 805 MW solar power
Sonnedix, a renewable energy company backed by JP Morgan and sponsored by three Italian government schemes, has been awarded contracts to install 805 megawatts in solar capacity under three different government schemes. Solar power, considered easier to develop than wind projects because of Italy's geographic characteristics, is playing a key role in the energy transformation in Italy. The country has become one of Europe's leading producers of clean energy. Sonnedix already has more than 900 MW in Italy. The new contracts…
Prices fall despite short-term bullish factors
The European spot electricity prices fell on Tuesday despite lower renewables and nuclear supplies and an increase in consumption?in France - as demand decreased across the region. LSEG analysis identified increasing thermal power as a market factor, which?overall?worked to bring down levels in Germany & France. LSEG data shows that the French baseload day-ahead was priced at 95 euros ($99.88 per megawatt hour) at 0940 GMT. This is 4% lower than at the previous close. The German equivalent price dropped 1.6% to 106.8 Euro/MWh. LSEG data shows that German wind power output is expected to fall by 4.2 gigawatts on Wednesday to 13.1 GW.
Japanese companies to gain more control over LNG joint ventures with state-backed groups
The industry ministry announced on Tuesday that Japanese companies would gain more control over JOGMEC-backed liquefied natural gas joint ventures and recover their investments faster as part of measures aimed to strengthen the nation's security in energy. The Ministry of Economy, Trade and Industry told a committee of resource and fuel policy it would encourage Japanese companies to invest in LNG. METI aims at introducing a mechanism that prioritizes dividend payments made to?companies through joint investment vehicles established with the Japan Organization for Metals and Energy Security(JOGMEC)…
Japan wants to give partners of state entities more flexibility to secure LNG supplies
The industry ministry announced on Tuesday that Japanese companies would be able to exercise more control over JOGMEC-backed liquefied gas joint ventures and also recover their investment faster. At a meeting of the committee on fuel and resource policy, the Ministry of Economy, Trade and Industry announced that it would take steps to encourage Japanese firms to invest in LNG projects. METI has stated that it aims to implement a'mechanism that prioritizes dividend payments to joint investment vehicles, with the 'Japan Organization of Metals and Energy Security.
Australia announces rescue bid for Rio Tinto Tomago Aluminium Smelter
The Prime Minister Anthony Albanese, announced on Friday that a "rescue" effort would be launched to keep Australia's biggest aluminium smelter open, the struggling Tomago plant majority owned by Rio Tinto after its current energy contract expires 2028. The announcement comes after the company had warned in October of a possible closure for Tomago Aluminium. It employs more than 1,000 employees and 200 contractors. Albanese stated that aluminium was becoming a "vital product", making it vital to keep Tomago operating. He said that if Australia does not produce aluminium, the knock-on effects in other industries are significant.
Italy awards solar power in the first "Not made in China" auction
In its first auction, Italy allocated more than 1.1 gigawatts to 88 solar projects that were built without any equipment made in China. The average price per megawatt-hour was 66.38 euro. According to the data of Italy's electricity service agency (GSE), this tariff is 17 percent higher than the average price in a renewable auction held earlier this year, which had no restrictions on equipment origin. The auction was one of the first in Europe to use non-price criteria that were linked to the European Union’s Net-Zero Industry Act. This package of measures aims to reduce reliance on cheap renewable components imported from China.