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Union Cabinet approves Rs 91.97 billion Bio-RIDE scheme

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The Union Cabinet has approved the continuation of the Department of Biotechnology’s (DBT) umbrella schemes, now unified under the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) initiative. The scheme, which includes a new component focused on Biomanufacturing and Biofoundry, has a budget of Rs 91.97 billion for the 15th Finance Commission period (2021-2026). Bio-RIDE aims to strengthen India’s position in biotechnology and biomanufacturing by fostering innovation, promoting bio-entrepreneurship, and bridging the gap between academic research…

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NEA to publish cost study of Sweden’s energy and electricity system

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The Nuclear Energy Agency (NEA) and the Swedish Government have announced a collaboration on a cost study of Sweden’s electricity and energy system. The study aims to explore the cost implications of various policy decisions and energy strategies under stringent carbon constraints, with the final report expected by the end of 2025. The announcement was made at the Roadmaps to New Nuclear 2024 conference in Paris, where NEA director-general William D. Magwood IV expressed hope…

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ADB approves $500 million loan to accelerate Indonesia’s energy transition

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The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support Indonesia’s shift towards sustainable energy. This loan, part of the Affordable and Sustainable Energy Transition Program, aligns with Indonesia’s goal to meet its enhanced nationally determined contribution and reach net zero power emissions by 2050. This first tranche of a two-part program aims to facilitate the country’s transition from fossil fuels to cleaner energy by developing a regulatory framework, improving sector…

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SLB expands partnership with NVIDIA to develop generative AI solutions for energy sector

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Energy technology company SLB has deepened its partnership with NVIDIA to develop generative AI solutions tailored to the energy industry. The collaboration will integrate industry-specific generative AI models into SLB’s platforms, such as the Delfi digital platform and the Lumi data and AI platform, to enhance data management and technical processes in energy production and exploration. The partnership will utilize NVIDIA’s NeMo from the AI Enterprise suite to create custom generative AI solutions that operate…

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Czech nuclear deal will go ahead despite controversy, South Korean President says

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South Korean President Yoon Suk Yeol has expressed confidence in moving forward with a multibillion-dollar project to build a nuclear plant in the Czech Republic, despite legal challenges from EDF and Westinghouse. In an interview with Reuters, President Yoon reassured that there is no need for concern over the project. In July, the Czech Government selected Korea Hydro & Nuclear Power (KHNP) to build two reactors, marking South Korea’s first major overseas nuclear order since…

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Iberdrola inaugurates Saint-Brieuc offshore wind farm in France

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Spanish utility Iberdrola has officially inaugurated the 496 MW Saint-Brieuc offshore wind farm, located 16km off the coast of Brittany, France. Built with a €2.4 billion ($2.6 billion) investment, the project is fully operational and can generate 2,000 GWh of clean energy annually, making it one of the most powerful offshore wind farms in France. The Saint-Brieuc wind farm features 62 Siemens-Gamesa turbines, each with an 8 MW capacity. Key partners in the project included…

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BlueFloat partners with China’s Dajin for floating wind supply chain

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BlueFloat Energy has signed a memorandum of understanding (MoU) with China’s Dajin Heavy Industry to foster innovation and sustainability within the floating wind supply chain. The partnership aims to enhance technical innovation, boost supply chain capacity, and promote decarbonisation. BlueFloat Energy CEO Carlos Martin emphasized that the collaboration will leverage BlueFloat’s expertise in offshore wind development and Dajin’s experience in fabricating steel structures for the offshore wind sector. The goal is to improve performance and…

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AMG Critical opens Europe’s first lithium hydroxide refinery in Germany

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AMG Critical Materials has inaugurated Europe’s first lithium hydroxide refinery in Bitterfeld-Wolfen, Germany, through its subsidiary AMG Lithium BV. The facility began producing battery-grade lithium hydroxide on 18 September 2024. The first of five planned modules has an annual capacity of 20,000 tonnes, sufficient to power around 500,000 electric vehicle (EV) batteries. AMG’s first module is already sold out, and the company plans to expand production to 100,000 tonnes per annum (tpa) by 2030. With…

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Ukraine’s energy system braces for severe winter amid increased Russian attacks, IEA warns

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Ukraine’s energy infrastructure faces its toughest challenge yet as winter approaches, according to a new report by the International Energy Agency (IEA). Russian missile and drone attacks have increasingly targeted Ukraine’s generation and transmission assets, causing more sustained damage than in previous phases of the war. The report, titled Ukraine’s Energy Security and the Coming Winter, highlights the extensive damage and warns of a potential 6GW energy shortfall during peak demand, despite efforts to restore…

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Vistra to acquire remaining 15% stake in Vistra Vision for $3.25 billion

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Vistra has signed definitive agreements to acquire the remaining 15% equity interest in its subsidiary, Vistra Vision, from affiliates of Nuveen Asset Management and Avenue Capital Management II LP. This acquisition will make Vistra the sole owner of Vistra Vision, which holds key assets, including the 6.4 GW Comanche Peak, Beaver Valley, Davis-Besse, and Perry nuclear generation facilities, along with the Vistra Zero renewables and energy storage business. The $3.248 billion cash transaction, set to…