Indonesia is planning to build 10 GW of nuclear power as part of a major push for renewable energy, a presidential adviser says
In an interview, a senior adviser to President Prabowo said that Indonesia is planning a major expansion of renewable energy in Indonesia by 2040. This will include the introduction of nuclear power of 10 GW. Contracts are expected in the next five year, the aide added. Hashim Djojohadikusumo is Prabowo’s brother, and the President’s Special Envoy for Energy and Climate. He said that this would double the current capacity, as Indonesia, the largest emitter of greenhouse gases in the world, aims to achieve carbon neutrality by 2050. Hashim, a New Yorker, said that "many contracts will be... in the next five year...
RWE's largest shareholder group is against more share buybacks
RWE's largest shareholder group, RWE municipal shareholders, opposes calls for further share buybacks. This includes activist investor Elliott. They say that they will drain cash for renewable investments. The Association of Municipal RWE Shareholders (VkA), who together own around 14% of the utility, has made a few rare comments in support of RWE Management amid increasing investor criticism of capital allocation. RWE, like its peers, cut investments in renewable energy projects in March due to the falling returns. Some investors urged RWE to speed up a buyback program worth 1.5 billion euros ($1.7 billion). Elliott is one of them.
Adani Green, India's clean energy company, aims to add 5 GW in clean energy by FY26 with $3.6 billion capex
Ashish Khanna, CEO of India's Adani Green Energy, said that the company plans to invest 310 billion rupees (about $3.64 billion) to add five gigawatts in clean energy during the current fiscal period. The target for capacity addition is more than 50% higher than the previous year. Adani Green is building a new energy park in Gujarat's western state. The company has a portfolio of 14.2 GW clean energy. The park will be five times as large as Paris when completed and produce 50 gigawatts by 2030, which is roughly one tenth the clean energy goals of India.
Malaysian Minister urges palm oil sector to support biofuel initiative
Malaysia's commodities ministry has called on the palm oil industry in Malaysia to support a biofuel project that turns palm oil wastes into clean energy sources, according to state-run media Bernama. Plantation and Commodities minister Johari Abdul-Ghani revealed that the technology developed by renewable energy company Wilhelmina Malaysia Energy Sdn Bhd based in Netherlands transforms empty fruit bundles (EFBs) collected from palm oil plantations into an energy source. Bernama reports that the plant uses EFB to produce "TG2 black pellet", an environmentally-sustainable drop-in replacement fuel for coal.
Hydro signs billion-euro contract to supply NKT low-carbon aluminum for EU grid
Hydro, a Norwegian company, announced on Tuesday that it had signed a contract to supply NKT in Denmark with low-carbon aluminum wire rod for the production and upgrade of Europe's grid infrastructure. The European Union published in 2023 a plan to improve the efficiency of their electricity grids, and to roll out upgrades rapidly to help facilitate the energy shift. Hydro announced last month that it would invest 1.65 billion crowns ($159.3 millions) in a new facility to increase its aluminum capacity at its Karmoy smelter, located in Norway. The plant will start producing in 2028.
Sources say that Brazil will offer tax incentives to attract data center investment.
Four sources with knowledge of the matter said that the Brazilian Finance Minister Fernando Haddad is planning to start a trip this week to Silicon Valley with a plan designed to attract data centers into his country through the exemption of federal taxes on technology investments. Haddad's visit to California includes a breakfast on May 6 with tech executives in Palo Alto. He will promote Brazil as an infrastructure hub that is sustainable, using the abundant renewable energy available. According to two sources who asked to remain anonymous to discuss private plans…
JERA, Japan's LNG supplier, may look at Alaska, says exec
JERA, Japan’s largest power generator, could consider Alaska as a possible source of liquefied gas (LNG), according to an executive on Monday. Japanese officials will be heading to the United States for another round in tariff negotiations this week. Alaska LNG, which is a $44 billion project that includes a pipeline, an LNG plant and other components, has been at the forefront of President Donald Trump’s agenda when dealing with Asian partners. He wants Japan, South Korea, and Taiwan to support this massive project. Naohiro Makawa, an executive at JERA, said in a Monday briefing that "from the perspective of energy supply and security...
Enagas' chief executive says that Spain's national hydro network plan is ahead of schedule
The chief of Spanish gas grid operator Enagas announced on Friday that plans to build a 2,600 km (1.615 mile) network of hydrogen in Spain were progressing ahead of schedule. Infrastructure is also on track for a start-up in 2030. The H2Med Corridor is a planned trans-European corridor that will connect the Iberian Peninsula with Northwest Europe. Arturo Gonzalo, the Chief Executive of the company, said that the company will make a final decision on investment in 2027. Construction is expected to begin the following year.
RWE has ceased offshore wind activity in the United States
RWE's CEO stated in a speech draft published in advance of the annual general meeting that the company has temporarily halted its offshore wind activities in the United States due to the regulatory uncertainty caused by the Trump administration. Markus Krebber's comments highlight the challenges facing European energy companies on the U.S. Offshore Wind Market, which is a major target of Trump’s energy policy. Trump compared wind turbines earlier this year to "garbage". Following a U.S. stop-work order, Equinor, a Norwegian company, announced last week that it would cease offshore construction on its Empire Wind I Project in New York State.
Japan's greenhouse gases emissions drop 4% to a record low in FY23/24
Government data released on Friday showed that Japan's greenhouse gases emissions dropped by 4%, reaching a new record low for the fiscal year ending March 2024. This was due to lower energy consumption, increased use of renewable energies, and restarting nuclear power plants. The data of the Environment Ministry showed that emissions for 2023/24 dropped from 1.116 billion to 1.071 billion tons of carbon dioxide. This is the second consecutive year that the figure has declined. The industrial sector experienced a decline of 4%, while the commercial sector and service sector suffered a drop of 6.2%.
US utility Xcel claims tariff exposure is 2% to 3% of capex plan
Executives with the company stated on Thursday that a global trade war is likely to affect renewable energy supply chains and storage systems, exposing 2%-3% of Xcel Energy’s $45 billion plan for capital expenditures. The expansion of AI data centres and the electrification in industries such as transportation are driving U.S. electricity consumption to record highs. Power companies have increased capital expenditure plans this year to build infrastructure. The tariffs imposed by President Donald Trump and the reciprocal tariffs of countries such as China have threatened to increase these building costs…
UK launches energy security summit by investing in offshore wind supply chain
The UK will host a summit on energy security in London, starting the event by promising to invest 399 million pounds (399 million dollars) into the domestic supply chain of offshore wind projects. After the Russian invasion of Ukraine, 2022, which led to price spikes around the globe and saw the EU try to reduce its dependence on Russian fuels. The UK Government, International Energy Agency and EU Commission President Ursula von der Leyen will host a two-day energy summit in London. The summit takes place at a moment when the European Commission works to reduce Russian gas and oil imports…
UK bans state investments in solar panels that are linked to forced labor
The energy department announced on Wednesday that Britain will avoid using solar panels associated with suspected forced labor in China by its new state-owned company, Great British Energy. Over 80% of solar panels are produced in China. According to a study by the UK's Sheffield Hallam University, forced labour is used in the production of polysilicon - one of the panel's core components - among Uyghurs. China denies all abuses, and in February a spokesperson for the foreign ministry said that accusations of forced labor were among "lies of this century". The Chinese Embassy in London failed to respond Wednesday to a comment request.
NextEra exceeds profit expectations as the power company avoids trade risks
NextEra Energy's CEO stated that the company beat Wall Street expectations on Wednesday regarding rising electricity demand, as it works to navigate around increasing global trade risks. The rising costs brought on by President Donald Trump’s tariff war threaten to slow down a recent surge of electricity demand, and dent plans for expansion by the country’s power companies. NextEra, one of the largest renewable energy firms in the world, has said that it reduced its trade risk by $150 million, on $75 billion of capital expenditures. This is less than 0.2%. In morning trading, the company's shares rose 2.7% to $68.46. NextEra purchased U.S.
Global Wind Capacity in 2024 Falls Short Despite Reaching a Record
A record 117 gigawatts of wind power capacity was installed worldwide last year, slightly more than in 2023, but far less than needed to achieve goals to decarbonise energy, a report by the Global Wind Energy Council said on Wednesday.WHY IT'S IMPORTANTThe world needs to shift to renewable sources, including wind and solar, to contain global warming.Many organisations, including the GWEC, have said the current rate of progress is not enough. It says a goal of installing 320 GW of capacity per year needs to be met for a United Nations target to triple renewable energy capacity by 2030 to be achieved.The GWEC said the uncertainty linked to U.S.
Elliott presses BP to boost free cash flow by 40% via spending reductions, FT reports
The Financial Times reported that Elliott Management, an activist investor, has urged BP a 40% increase in its free cash flow through spending cuts. Elliott wants BP to focus on achieving a $20 billion annual free cash flow target by 2027 instead of growing its oil business, according to a report citing sources familiar with the issue. BP has worked to increase its share price, which has lagged behind rivals Shell and Exxon in recent years. According to the report, the hedge fund suggests that BP sell its solar and offshore-wind power businesses.
IMF: AI's economic benefits will likely outweigh its emissions costs
The International Monetary Fund (IMF) said that the benefits of artificial intelligence would boost global production by 0.5% per year between 2025-2030, and outweigh the rising costs associated with the carbon emissions from the data centres required to run AI models. The IMF released a report at its annual spring meetings in Washington that noted the fact that these output gains were not shared equally around the globe. It called on governments and businesses to minimize costs to society. The report stated that despite challenges associated with higher electricity prices and greenhouse gases emissions…
India extends the deadline for commissioning certain solar energy projects to December
A document obtained by revealed that the Ministry of New & Renewable Energy in India (MNRE), due to multiple obstacles, has extended the deadline for commissioning certain solar projects to December 2025. In a letter sent to the Solar Energy Corporation of India and the Indian Renewable Energy Development Agency, the MNRE cited the limited availability of photovoltaic modules made in India, transmission infrastructure problems, and delays related to tenders as reasons for extending the deadline. SECI and IREDA requested…
Gas prices in Europe are rising on the back of lower renewable energy forecasts
The Dutch and British wholesale gas price increased on Thursday morning, as temperatures and renewables are expected to drop at the weekend and the quieter trade before Easter. LSEG data show that the benchmark Dutch front-month contract rose by 0.24 euros to 35.66 euro per megawatt hour. The June contract increased by 0.26 euros to 35.86 euro/MWh. The British contract was 1.75 cents higher, at 86.75 cents per therm. LSEG data shows that temperatures in north-west Europe will continue to fall by 1.5C tomorrow, but temperatures should average 12C at the weekend, 2-3C higher than normal.
Rio Tinto explores low-carbon aluminum project with Indian company
Rio Tinto announced on Thursday that it had signed a Memorandum of Understanding (MOU) in India with AMG Metals & Materials. The MOU is to evaluate the viability and feasibility of a low carbon aluminium project for the South Asian nation. The global miner stated that the potential development could lead to up to 2 million tonnes of alumina and 1 million tonnes of primary aluminium production per year, powered by wind and solar energy, and supported by pumped-hydro storage. It added that the initial phase of the plan would include studying the feasibility of a primary aluminium smelter capable of producing 500…
