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UK to acquire National Grid’s Electricity System Operator

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The UK Government has agreed to purchase the National Grid’s Electricity System Operator (ESO) for £630 million ($827.95 million). The deal, expected to close by 1 October, aims to enhance energy security, reduce bills, and accelerate the clean energy transition. Once completed, the new independent National Energy System Operator (NESO) will oversee electricity and gas distribution, working with Great British Energy to integrate renewable energy into the grid. The NESO will be chaired by former…

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South Africa wins €400m for solar and wind projects from EIB and FirstRand

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Several solar and wind projects in South Africa will receive €400 million through a joint initiative between the European Investment Bank (EIB) and South Africa’s FirstRand Bank. The investment, with each party contributing €200 million, aims to enhance private sector energy generation, boost energy security, and mitigate power cuts. The funding aligns with Europe’s Global Gateway strategy, which targets €100 billion in sustainable infrastructure investments by 2027. This initiative supports South Africa’s net-zero target for…

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Qatar considers increasing stake in Iberdrola beyond 10%

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Qatar Investment Authority (QIA), with assets valued at $475 billion, is looking to increase its stake in Spain’s leading utility company, Iberdrola, from 8.8% to over 10%, according to local Spanish media reports. This move would further solidify QIA’s position as Iberdrola’s largest shareholder, surpassing BlackRock (5.395%) and Norges (3.115%). QIA began its investment in Iberdrola in 2011 with a 6.16% stake, peaking at 9.7% in 2017. Any increase in shareholding would likely only impact…

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Grenergy strengthens partnership with BYD to enhance storage system supply in Chile

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Spanish renewable energy company Grenergy has renewed its agreement with BYD to supply large-scale storage systems for the Oasis de Atacama solar-battery hybrid project in Chile, bringing the total storage capacity to 3 GWh—BYD’s largest agreement to date. The extended deal includes BYD’s MC Cube storage systems for Grenergy’s 200 MW Victor Jara project, with 537 containers set to arrive at the site in the second quarter of 2025. This storage capacity is equivalent to…

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Ørsted, MT Group to build carbon capture and storage facility in Denmark

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Energy company Ørsted has partnered with MT Group to develop a carbon capture and storage (CCS) facility at the Ørsted Kalundborg CO₂ Hub in Denmark. MT Group will install balance of plant piping, integrate it with an existing woodchip-fired boiler plant, and test the piping’s design for the new CCS facility. This project is part of Ørsted’s 20-year agreement with the Danish Energy Agency (DEA) to capture and store 430,000 tonnes of CO₂ annually from…

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EU approves €682m state aid for Belgium’s offshore wind development

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The European Commission has approved a €682 million state aid package to support Belgium’s renewable offshore wind energy. The funds will facilitate the construction and operation of a 700 MW offshore wind farm in the Princess Elisabeth Zone in the North Sea, set to generate 2.6TWh of renewable energy annually. This project will significantly boost Belgium’s offshore wind generation, which reached 7.77TWh in 2023. While Belgium aims to align with the EU’s target of 42.5%…

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Vietnam explores revival of nuclear power plants for energy security

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Vietnam is reconsidering its nuclear power development plans to strengthen energy security and support economic growth, according to a government document reviewed by Reuters. The country, which relies heavily on coal, seeks cleaner energy solutions to achieve its net zero target by 2050. The Ministry of Industry and Trade is studying global nuclear energy development and will propose a plan to the Politburo, Vietnam’s top decision-making body. The move comes as Vietnam targets an annual…

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CarbonScape and Stora Enso to build biographite demonstration plant in Finland

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New Zealand-based CarbonScape and biomass developer Stora Enso have announced plans to build a biographite demonstration plant in Kotka, southern Finland. The facility aims to produce biographite, a sustainable alternative to mined or fossil-based synthetic graphite, for use in lithium-ion batteries, addressing supply chain and sustainability challenges. Construction is expected to begin in 2025, with sample production starting in 2026. The plant will produce larger biographite samples for OEMs and battery cell makers, helping qualify…

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EnBW plans €3 billion capital increase to boost Germany’s energy transition

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EnBW is in discussions with its major shareholders about a potential capital increase of €3 billion to manage the rising costs of investing in Germany’s energy transition. The utility stated that the decision regarding a possible share issue will be made by shareholders at the annual general meeting. EnBW, primarily owned by the German state of Baden-Wuerttemberg and local municipalities, anticipates its investments in energy projects could rise to €50 billion by 2030, up from…

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BP, Iberdrola to build 25 MW green hydrogen project in Spain

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BP and Iberdrola have established a 50:50 joint venture to develop a 25 MW green hydrogen project in Castellón, Spain. The project has reached its final investment decision and is set to support the decarbonization of BP’s refinery operations by 2026, reducing CO2 emissions by 23,000 tons annually. The initiative has secured €15 million in funding from the Spanish Recovery, Transformation, and Resilience Plan, supported by NextGenerationEU. The plant is expected to create up to…