Amazon will invest $13 billion over 5 years in Australia's Data Center Infrastructure
Amazon announced in a Saturday blog post that it will invest A$20 Billion ($12.97 Billion) between 2025 and 2029 in Australia to expand, maintain, and operate its data center infrastructure. This investment is expected to boost the country's artificial-intelligence capabilities. Amazon has made its largest technology investment in Australia. The funding will be used to support new server capacity, as well as generative AI workloads.
German utility RWE announces partnership with tech giant Amazon
The German utility RWE announced on Thursday a strategic framework deal with tech giant Amazon, in which the utility will deliver clean energy and receive cloud services in exchange. Cloud services include artificial intelligence and data analysis in exchange for electricity provided by RWE's solar and wind facilities. Some of these are already operational and others are in construction.
World Bank will end nuclear energy ban, but still debate upstream gas
Ajay Banaga, president of the World Bank, said that its board had agreed to lift a ban on financing nuclear energy projects for developing countries. This is part of an effort to meet the growing demand for electricity. Banga sent an email outlining the bank's new energy strategy to its staff following what he described as a constructive meeting with the board.
India extends waiver on transmission charges for energy storage projects to June 2028
The power ministry announced on Tuesday that India will waive all inter-state transmission fees for projects involving electricity storage until June 2028. This is in response to the country's ambitious goals of boosting energy storage and achieving its clean energy targets. Power producers are paid by purchasers, who are typically distribution companies. This payment includes transmission charges.
Shanghai's solar conference focuses on losses and pricing reform
The mood will likely be subdued when the largest solar energy conference in the world kicks off on Tuesday in Shanghai, as Chinese solar panel manufacturers grapple with the oversupply of panels and price reforms. The majority of solar farms in the world are powered by modules and cells made in China. However, the top Chinese producers are suffering billions…
Wall Street futures are subdued in advance of US-China Trade Talks
U.S. Stock Index Futures were Subdued On Monday As Investors Looked Ahead To Talks Between The United States And China Intended At Repairing A Trade Rift That Has Shackled Financial Markets For Much Of This Year. The top officials of both countries will be meeting in London in order to resolve disagreements over a preliminary accord reached last month in Geneva, which had temporarily cooled tensions.
Sunnova Energy files for Chapter 11 bankruptcy protection
Sunnova Energy announced on Sunday that it filed for Chapter 11 bankruptcy in the United States. The residential solar panel installer is struggling with a huge debt pile and slow demand. Sunnova, a company that is restructuring its debts, warned in March it might not be able continue to operate as a business. According to a filing in court, the company's estimated assets and liabilities ranged from $10 billion to $50 million.
The US solar energy market will slow down as Washington shifts its priorities
A report released on Monday by the top solar trade association predicts that the number of new solar energy installations in the United States will decline over the next five-year period as the industry struggles with a federal policy shift favoring fossil fuels and tariffs. According to the Solar Energy Industries Association's and Wood Mackenzie's forecast, new solar capacity in 2030 will be over 10% less than it was in 2025.
Sunnova Energy will lay off 718 workers
Sunnova Energy announced on June 5, that it will lay off approximately 55% of its employees or 718 workers in an effort to reign in spending, as the residential solar panels installer struggles with a massive amount of debt and a sluggish market. In March, the company warned that it may not be able continue to operate as a going-concern. Sunnova has not provided details of the charges that it will incur as a result of the layoffs.
Spain pays first arbitral award in long-running dispute over renewable subsidies
A spokesperson for the Energy Ministry said that on Thursday, the Spanish government had agreed to pay 37 million dollars to an American fund in order to settle a dispute over renewable energy subsidies which were reduced more than a decade earlier. After the conservative government of Spain cut renewable subsidies in 2013, to reduce an artificially low power tariff deficit that had been built up over years…
In May, India's coal-fired electricity output fell at the fastest rate in five years.
A government analysis showed that India's coal-fired power generation fell in May at the fastest rate in five years. The overall demand for electricity declined in August, and renewable energy production reached a new record. A review of Grid India's data showed that the increase in power generation from cleaner sources such as hydro and nuclear led to the sharpest decline in the output of natural gas fired power in almost three years.
The IEA predicts that global energy investment will reach a record $3,3 trillion by 2025.
The International Energy Agency (IEA), said Thursday, that despite geopolitical tensions and economic uncertainty, a surge in clean energy expenditure is expected to lead to a record $2.89 trillion in global energy investments in 2025. The IEA's annual World Energy Investment Report stated that clean energy technologies such as renewables, nuclear and energy storage are expected to attract $2.2 trillion…
UK launches investigation into the alleged solar fraud which brought down English council
The Serious Fraud Office in Britain (SFO), announced on Tuesday that it had opened an investigation into the company that sold an investment scheme related to solar farms, which led to a council in England being declared bankrupt by 2022. Thurrock Council in Essex County, eastern England, invested millions between 2016 and 2020 into solar farms through a bond program sold by Rockfire Investment Finance…
Maguire: Eastern Europe's secretive surge in solar power generation
In Europe, the discussion of solar energy generation is dominated by Germany and Spain. Solar capacity in the nine largest producers of solar energy in Eastern Europe grew at a pace that was more than twice as fast as the rest of Europe over the last five years. This has allowed Eastern Europe to double its regional solar production share since 2019. Solar farms will provide electricity to at least six Eastern European countries…
Alterra, the UAE’s climate fund, supports Absolute Energy’s renewable energy project in Italy
Alterra, one the largest private climate funds in the world, has invested its second direct money in Europe via Italian renewable energy company Absolute Energy. It plans to do more deals, according to its CEO. The fund, which was set up by the United Arab Emirates in 2023 with $30 billion and has invested so far $6.5 billion, mainly through climate and transformation funds managed by global investment firms BlackRock Brookfield and TPG.
Maguire: Eastern Europe's secretive surge in solar power generation
In Europe, the discussion of solar energy generation is dominated by Germany and Spain. Solar capacity in the nine largest producers of solar energy in Eastern Europe has increased at a pace that is more than twice as fast as the rest of Europe over the last five years. This has allowed Eastern Europe to double its regional solar production share since 2019.
Meyer Burger, a Swiss solar panel manufacturer, files for bankruptcy for German subsidiaries
In a Saturday statement, Meyer Burger, a Swiss manufacturer of solar panels filed insolvency proceedings for its German subsidiaries. Meyer Burger (Industries) GmbH & Meyer Burger (Germany) GmbH have both initiated insolvency procedures, according to the company. The court will appoint a temporary insolvency administrator. Meyer Burger AG (Switzerland), which employs 60 people in Thun will continue to operate.
Meyer Burger shuts down US solar panel manufacturing in Arizona
Meyer Burger, a Swiss manufacturer of solar panels, has closed a U.S. plant in Arizona because of financial problems, laying off all 282 workers, the company announced on Thursday. This is a blow to the solar industry's efforts to create a domestic supply network and reduce its dependence on China, which is the top manufacturer of solar panels in the world.
Databricks competitor Chalk raises $50 million series A
Chalk, an artificial intelligence infrastructure startup, announced Wednesday that it raised $50 million in Series A funding. The company is now valued at $500 million. Felicis was the leader of this round. Chalk, a San Francisco-based company, helps companies quickly convert their proprietary data to AI and machine-learning models. This allows them to make current decisions using AI.
Treasury yields are easing with US stocks flat or up; investors evaluate US tax bill
The 30-year U.S. Bond yields rose to their highest level in nearly 19 months, before falling on Thursday. Worries about the U.S. Fiscal Outlook and the demand for government bonds remained, while Wall Street stocks ended either flat or slightly higher. After recent losses, the U.S. Dollar has strengthened. The yields increased earlier, after the U.S. House…
