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UK oil and gas companies lag in renewable energy investments, report reveals

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A recent analysis by climate campaign group Uplift has found that the majority of UK North Sea oil and gas companies are failing to transition their investments to renewable energy. Out of 87 companies, only seven are projected to invest in renewables by 2030. Of these, only two will allocate more than half of their portfolios to renewable projects, while one company intends to invest in wind energy to support further oil and gas production….

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OPRI secures €100m bond for 740 MW solar projects in Italy

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Ortus Power Resources Italy (OPRI), a joint venture between Ortus Climate Mitigation and Omnes Capital’s Capenergie 4 fund, has secured up to €100 million in bond issuance from I Squared Credit for the construction of approximately 740 MW of solar assets across Italy. Akereos acted as the sole book-runner and debt advisor for the financial arrangement. OPRI CEO Guido Cuzzolin highlighted that the proceeds from the bond will enable the company to power up to…

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SEG Solar breaks ground on 5GW solar industrial park in Indonesia

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US-based SEG Solar has started constructing a 5GW integrated photovoltaic (PV) industrial park in Central Java, Indonesia, marking a key step in its Southeast Asia expansion. This will be the largest vertically integrated PV facility in Indonesia, covering the full production process from silicon ingots to solar modules. The first phase, set for completion by Q2 2025, includes ten N-type cell production lines. SEG Solar will collaborate with suppliers to build a robust PV ecosystem….

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GPC and CNBM to expand renewable energy projects in Europe

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GoldenPeaks Capital (GPC) and China National Building Material Group (CNBM) have announced plans to expand their renewable energy partnership, targeting 1GW of solar projects annually across Europe. This collaboration, building on a five-year partnership, will extend into new markets including Germany, Italy, and Greece. GPC, already active in Poland and Hungary with 800 MW of renewable energy projects and 1.4GW under development, aims to increase its presence in Western Europe, particularly in Bavaria, Germany. CNBM,…

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First nuclear plant recommissioned in US history as part of $2.8bn funding

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The Biden-Harris Administration, through the US Department of Energy (DOE) and Department of Agriculture (USDA), has allocated over $2.8bn to support clean energy in the Midwest. As part of this effort, the DOE has secured a loan guarantee of up to $1.52bn for recommissioning the 800 MW Palisades Nuclear Plant in Michigan, marking the first revival of a retired nuclear facility in US history. Palisades, which closed in May 2022, will resume operations, providing clean…

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Newcleo secures €135m investment, plans further European expansion

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Nuclear energy company Newcleo has secured €135 million in new investments, bringing its total to over €535 million. The latest funding includes contributions from Italian pension fund Inarcassa, increasing the company’s shareholders to more than 700. As Newcleo relocates its headquarters from London to Paris, it aims to attract more European investors and reopen its capital raise process in France later this year. Newcleo is currently constructing a manufacturing plant for reprocessed nuclear waste and…

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Vale and Green Energy Park partner on green hydrogen for global steel sector

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Brazilian mining giant Vale and European hydrogen company Green Energy Park (GEP) have announced a collaboration to build a green hydrogen production facility in Brazil, aiming to produce low-carbon steel. The joint venture will establish a ‘Mega Hub’ industrial complex, where international steelmakers can source and produce hot-briquette iron (HBI) using green hydrogen as the reducing agent. This initiative is expected to cut carbon emissions by 80% compared to traditional blast furnaces, which emit two…

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Big Tech spurs new demand for SMRs providing nuclear power

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In September 2024, Oracle announced plans to build a gigawatt-scale data centre powered by small modular reactors (SMRs). Equinix, a leading data centre operator, made a $25m pre-payment to nuclear power company Oklo for SMR power. SMRs, compact versions of traditional nuclear plants, offer high-energy corporations a dedicated power source, providing greater energy security and consistent output. More than 200 SMRs have already been ordered, with demand coming from companies like Standard Power and Dow….

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Iran and Tajikistan discuss strengthening energy and water

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The Ministry of Energy in Iran and the Ministry of Energy and Water Resources in Tajikistan are in discussions to enhance cooperation in electricity, water, and other key sectors.  The talks, held within the framework of the joint economic committee, focused on boosting trade, facilitating Iranian business operations in Tajikistan, and advancing water and energy initiatives. Both countries expressed optimism about future partnerships, particularly in the energy sector. They aim to increase trade to USD…

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Masdar expands in US with 50 per cent acquisition of Terra-Gen

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Masdar has successfully acquired a 50% share in Terra-Gen Power Holdings II, LLC, a leading independent renewable energy producer in the US. The acquisition was made from Energy Capital Partners, which fully divested its stake, while Igneo Infrastructure Partners retained its 50% interest in the company. Before this acquisition, Masdar had a strong portfolio of utility-scale wind, solar, and storage assets, with over 1.4 GW of generating capacity. Terra-Gen’s current operational portfolio spans 3.8 GW…