Britain launches a strategy to expand offshore wind and create jobs
The government announced on Friday that Britain has launched its first onshore wind policy, which aims to increase renewable energy capacity and create jobs in this sector. Britain aims to decarbonise the electricity sector in its country by 2030, as part of its efforts to achieve its climate goals and boost energy security. It also wants to reduce its power costs through a reduction in its dependence on fossil fuels. The government stated that the move could create up to 45,000 jobs. The strategy includes 40 actions that will help to boost onshore projects.
State news agency reports that Saudi Arabia and Indonesia have signed several deals valued at around $27 billion.
Saudi Arabia and Indonesia have signed deals and memorandums worth $27 billion in the private sector, including in clean energy and petrochemicals. This was reported by Saudi state news agency SPA on Wednesday. On Wednesday, Indonesian President Prabowo Subito met with Saudi Crown Prince Mohammed bin Salman. According to the Saudi State News Agency, both sides agreed to strengthen their cooperation on the supply of crude and derivatives in the energy sector, improve the sustainability and efficiency of supply chains, and enhance cooperation in the mineral resources.
Trump's budget bill increases fossil fuels and hits renewable energy
The U.S. Senate approved a budget bill on Tuesday, and now the House of Representatives will debate it for final approval. This would slow down the development of solar and wind power, eliminate climate funding, and increase oil, gas, and coal production. The law drastically reduces the access to 30% tax credits for solar and wind energy projects, which were set to last until 2032 and on which developers relied for future projects. For projects to qualify for the subsidy they must either start service before the end of 2027 (one year earlier than the House Bill proposed) or begin construction one year after the adoption of the House Bill.
Shares in European Renewable Companies Rise After Revised US Senate Bill
Shares in European renewable energy companies rose on Wednesday after the U.S. Senate passed a revised budget bill the previous day which was more positive for wind power compared to an earlier version.U.S. President Donald Trump's "Big Beautiful Bill" makes it harder to develop wind and solar energy projects in the U.S. by effectively phasing out renewable energy tax credits after 2026 if projects have not started construction.In the Senate's final version, projects will be able to use the lucrative credits if they begin construction before 2026.
Shares of European renewable energy companies rise following revised US Senate bill
The shares of European renewable energy companies increased on Wednesday, after the U.S. Senate approved on Tuesday a revised version of its budget bill which was more favorable for wind power than an earlier version. The "Big Beautiful Bill", signed by Donald Trump, makes it more difficult to develop solar and wind energy projects in the U.S. The end date for wind and solar projects that start construction after this is 2027. The revised Senate bill excludes from the deadline all projects that begin construction in the next 12 month.
Zelestra, a Spanish renewable energy company, has received an additional $280 million for financing.
Leo Moreno, chief executive of Spain's Zelestra, said that the company has received a loan increase in the amount of 235 million euros ($277 millions) to help develop renewable energy projects across Europe, America and other countries. Zelestra, owned by the Swedish investment firm EQT (formerly known as Solarpack), has expanded beyond solar energy to include wind power and storage assets. The sustainability-linked financing, provided by a pool of 11 banks, dates back to 2023. The loan value has increased by 770 millions euros. This is the second time the loan was raised after a previous one.
Senate bill still deals a big blow to renewables despite last-minute amendments
Industry advocates and legislators said that the massive U.S. Senate budget bill passed on Tuesday would make it more difficult to develop solar and wind energy projects despite the removal some controversial provisions. After last-minute talks with Republican senators who wanted better terms for renewable energy, the Senate dropped its proposed excise taxes on solar and wind projects that didn't meet strict criteria. Iowa Senator Joni Ernest, Iowa Senator Chuck Grassley, and Alaska Senator Lisa Murkowski - whose votes were critical to the bill's passing - had proposed an amendment that called for the removal of this tax.
The U.S. Senate has preserved some tax credits for renewable energy in the Trump bill
The shares of U.S. renewable-energy firms showed mixed results in the early trading on Monday after the U.S. Senate passed President Donald Trump's tax and spending bill. The final version of the bill preserved tax credits for solar leases -- an arrangement in which a third party owns and installs solar panels on the property of a customer for a fee for the use of the system and electricity it produces. After weeks of uncertainty, the provision has lifted several solar names. First Solar shares rose 7.1% to $163.00, while Sunrun and Fluence Energy both gained 3.1%.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country increased renewable imports while accelerating local solar power production. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state.
Senate bill accelerates the end of wind and solar tax credits
Renewable energy advocates said that the latest version of the Senate’s massive budget bill, which the Senate will vote on as early as Saturday, deals a death blow to the use tax credits established since 2005 to encourage more wind and solar power. It would also impose a brand new tax for the first-time on these projects. The Senate's leadership introduced a new version of the bill overnight that effectively eliminates the solar and wind incentives immediately. Earlier in the week, there were hopes that the Senate…
EU approves Italian scheme to support energy-intensive industries
Italy's Energy Minister said that the European Commission had approved a scheme by the Italian government to support power-intensive industries as well as a green transition in Italy. Gilberto Pichetto-Fratin, in a press release, said that the Commission considered "Energy Release 2.0" to be compatible with EU rules on internal markets and regulations on state aid. In its first phase, the scheme will offer electricity at a price fixed of 65 euros per Megawatt-hour. According to statistics from the government, last year in Italy, the average price per megawatt hour was 108.5 euro.
Denmark warns EU not to stop green transition
The climate minister of Denmark said that European nations must not stop the green transition on the continent. His country is preparing to lead EU negotations over a new climate goal amid backlash from governments worried about its costs. Next week, the European Commission will propose a new climate target for 2040 that will reduce EU emissions by 90 percent compared to 1990 levels. However, countries such as Poland and France are concerned that this goal is too ambitious. Lars Aagaard is the energy and climate minister of Denmark.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country ramped-up renewable imports while accelerating local solar power production. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and that renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state.
Sources: Canadian funds pull out of $6 billion deal with renewables company Cubico
Three people with knowledge of the situation said that LONDON/NEWYORK on June 26th, two Canadian pension funds halted an auction they were running for renewable energy developer Cubico Sustainable Investments, which was valued at over $6 billion including debt. Nearly two years ago, the Montreal-based Public Sector Pension Investment Board and Ontario Teachers' Pension Plan decided to investigate a possible sale of a company that operates solar and wind farms in Europe, North America, South America, and Australia. This was during a time when low-carbon companies enjoyed a period of increasing valuations.
Britain Rejects Moroccan Subsea Power Project In Favor of Domestic Solutions
Britain has rejected a 25 billion pound ($34.39 billion) Moroccan renewable energy project that would have used solar and wind power from the Sahara to supply up to seven million UK homes.The British government, which is aiming to largely decarbonise its electricity sector by 2030, said on Thursday it believed domestic projects could offer better economic benefits."The government has concluded that it is not in the UK national interest at this time to continue further consideration of support for the Morocco-UK Power Project," energy department minister Michael Shanks said in a written statement to parliament.He also said the project did not
India wants to move faster with clean energy deals
India's power minister has proposed a rule that will require distribution companies to act faster after signing agreements to purchase power from clean energy sources. According to the draft rule of June 25, distribution companies are required to seek official approval within 30 days after signing a deal with a third party, such as an agency that implements renewable energy. This is an important step, as the industry has been highlighting delays by power distribution companies that have slowed the start-up of solar, wind and other renewable energy project.
Polish Parliament approves liberalisation in wind farm regulations
The Polish Parliament approved legislation that eases rules for building onshore wind farms. According to the government, this is an important step in boosting renewable energy production and lowering electricity prices. In a vote held late Wednesday night, the rules reduced the distance between planned installations, and residential areas, but kept permitting restrictions for projects near protected natural areas. Bill will include clauses that will freeze energy prices until the end the year for householders, as well as incentives for municipalities and home owners in the areas nearest to new wind farms.
Report: Global CO2 emissions in energy reached record levels last year
The Energy Institute's Annual Statistical Review of World Energy showed that global carbon dioxide emissions in the energy sector reached record levels for the fourth consecutive year last year, as fossil fuel consumption continued to rise even as renewable energy also hit record highs. The figures in the report highlight the difficulty of weaning the world economy away from fossil fuels, especially at a moment when the conflict in Ukraine has disrupted oil and gas supplies coming from Russia. And fighting in the Middle East is raising concerns about the security of supply.
Brazil increases biofuels, sees self-sufficiency in gasoline
The Brazilian National Energy Policy Council approved an increase in the amount of biofuels blended into fossil fuels on Wednesday. This move was also hailed by renewable energy lobbyists who had earlier claimed that the blends wouldn't be changed this coming year. Pietro Mendes from the Energy Ministry's Oil and Gas Department announced the changes during a press conference. Alexandre Silveira, Minister of Mines and Energy at the event, also stated that a change in the mandate for biofuels would allow Brazil to become "gasoline-independent for the first 15 years".
Miliband pledges to lead the way in clean energy and demand corporate net-zero strategies
Ed Miliband, the energy secretary, said that Britain is on the right track by cutting emissions and investing in a green economy. He also pledged to press large companies to explain how they will align their business with this shift. Opposition parties are putting pressure on the government over perceived costs associated with the move to net zero emission at a moment when energy prices remain high after Europe has shifted away from Russian imports due to Moscow's invasion of Ukraine in 2022. Miliband, speaking to climate investors…
