SOLV Energy aims for $5 billion valuation at US IPO
SOLV Energy, a solar and battery storage company, said Friday that it aims to achieve a valuation up to $4.99 Billion in its initial public offering in the United States. The San Diego-based company plans to raise up to $512.5 millions by selling 20.5 million shares at a price between $22 and 25 cents each. The IPO market in the United States has recovered after last year's historic U.S. shutdown, which slowed down the Securities and Exchange Commission and stifled the deal flow.
India's BPCL seeks renewable energy investments abroad
Bharat Petrol Corp. (BPCL), a state-run refiner in India, is scouting for global opportunities. These include strategic investments, acquisitions, and?solar wind and hydropower. The refiner will continue to expand refineries and pursue renewable energy, but stresses that conventional fuels are still essential for meeting India's rapidly growing energy demand. You have to keep up with the growth. "It is not green or conventional, you must go together," Subhankar Sen (BPCL director of marketing) told?
Why is Elon Musk interested in putting AI data centers into space?
Musk's plans to launch satellite data centres into orbit could be given a boost by a proposed merger between Elon Musk's SpaceX, and xAI. The news was reported exclusively on Thursday. Musk is battling for supremacy against tech giants such as Alphabet's Google and OpenAI. What are space-based AI data centers? The concept of space-based data centres is still in its early stages. They would likely rely upon hundreds of satellites powered by solar energy…
The Islamic Development Bank and the Niger State of Nigeria will collaborate on a $163 million solar energy project.
Officials said that the Niger State Government of Nigeria will collaborate with 'the Islamic Development Bank' to develop a $163million solar electrification project to increase power supply, support agriculture and industry. The project involves the construction of a solar power plant of 100 megawatts in the?north central Nigeria, on approximately 200 hectares. This will provide electricity to several communities throughout the state. Governor?Umaru…
UAE utility withdraws Yemen and transfers solar energy plants to the government
Global South Utilities, based in Abu Dhabi, has handed over two solar power plants to Yemen's Public Electricity Corporation. This was after the?Yemeni government requested that all?Emirati firms leave the country. GSU informed Public Electricity Corporation in a letter of January 22 that all maintenance and operations teams had been evacuated from the Aden Solar Power Plant, with a capacity of 120 Megawatts (MW), as well as the 53 MW Shabwa solar plant.
Musk's Davos debut: US tariffs are a problem for solar power
Elon Musk made his Davos debut at the last minute on Thursday. He criticized U.S. Solar Tariffs, set aggressive Tesla targets, such as humanoid robot sales next year, and hinted that European approval of self-driving technology would be within weeks. Larry Fink, interim co-chair of the World Economic Forum, interviewed the richest man in the world after he had described the annual meeting for years as being elitist and unaccountable, and detached from the ordinary people. BlackRock's CEO expressed admiration for Musk as the discussion began.
EDP CEO Warns EU on Lost Urgency for Energy Security
Four years after the start of the Ukraine war, the European Union has lost the sense of urgency needed to strengthen its energy security, with bureaucracy still slowing renewable projects and preventing the bloc from cutting costly energy imports, the head of Portuguese energy group EDP said.Miguel Stilwell d’Andrade, CEO of one of Europe’s largest renewable power producers, told Reuters companies were struggling to build wind and solar assets fast enough to replace imported fossil fuels.“We need to invest more in networks…
Engie continues to invest in Middle East renewables, as the momentum in US and Europe slows
Engie has reached the 'financial close on a 1.5 Gigawatt solar park, its largest in the world, said the French utility on Monday. The company is stepping up projects in the Middle East, a fast-growing market, amid a slowdown of renewable energy in the U.S. The Khazna Park is set to start commercial operations in the year 2028. It will provide electricity for 160,000 homes throughout the United Arab Emirates, under a 30-year agreement with Emirates Water and Electricity Company.
China's fossil fuelled power drops for the first time in 10 years as a result of renewables
China's coal-based thermal energy generation in 2025 fell for the first time in 10 years, according to government data released on Monday. Growing renewable generation?met growth of electricity demand, even though?overall consumption?hit a new record. This data is a good sign for China's decarbonisation as it sets out to reach its carbon emission peak by 2030. The coal production reached a new record last year. According to the National Bureau of Statistics…
China scraps export tax rebates on photovoltaic and batteries
China will cancel value-added export rebates on photovoltaic products from April 1, according to a Friday joint statement by the Finance?Ministry and the State Taxation Administration. The ministry has also announced that the VAT export rebates on battery products would be reduced to 6% between April and Decemeber from 9% and then completely eliminated from January 1, 2027. The statement also added that the rules on consumption-tax rebates for these products would?remain unchanged.