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World Nuclear Performance 2024

Analysis, Features

In a world grappling with the urgency of climate goals and clean energy transitions, the World Nuclear Performance Report 2024, produced by the World Nuclear Association, presents a compelling narrative on the global nuclear industry’s role in reducing emissions and enhancing energy security. Through facts, case studies, and country-specific insights, the report highlights nuclear energy’s capacity to deliver dependable, carbon-free power and keep pace with rising global electricity demands. Nuclear’s Vital Statistics: Performance on a…

Power Sector News Roundup for October 21, 2024

Power Bytes

Global: Top European Union economies spend 42 billion euros annually on fossil-fuel company car subsidies, study finds European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen Energy reports Neart na Gaoithe offshore wind farm generates first power for UK grid Hellenic Cables secures contract for Leading Light Wind project in the US deveritec GmbH and Wirepas launch new NIC for Wirepas 5G Mesh in Europe Lhyfe partners with KEYOU for hydrogen mobility in…

Power Sector News Roundup for October 18, 2024

Power Bytes

Global: Philippines DOE to commercialize three offshore wind projects Global energy system faces rising risks amid geopolitical strains: IEA Dominion Energy and Amazon sign MoU for SMR development in Virginia Ohmium partners with SwitcH2 Offshore for offshore green hydrogen and ammonia project ARCO/Murray to build Boviet Solar’s manufacturing hub in North Carolina IEA’s Fatih Birol: Fossil fuel demand to peak as world enters “age of electricity” Constellation Energy orders $100m transformer for Three Mile Island…

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BP considers selling minority stake in offshore wind division

Global, News

BP is exploring the sale of a minority stake in its offshore wind division to offset the substantial development costs associated with its projects, as reported by Reuters. This move follows shareholder pressure over BP’s 2020 energy transition strategy, as profits from renewables have fallen while oil and gas margins have risen. The company has engaged Bank of America to identify potential partners as it seeks to reduce its financial burden in the growing offshore…

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Dominion Energy and Amazon sign MoU for SMR development in Virginia

Global, News

Dominion Energy Virginia has entered into a partnership with Amazon to explore the advancement of small modular reactor (SMR) nuclear technology within Virginia.  The two companies signed a memorandum of understanding (MoU) to develop innovative structures for SMR projects, aiming to bring new sources of carbon-free energy to the state. Kevin Miller, Amazon’s global data centers vice-president, emphasized that nuclear energy’s safety and reliability align with Amazon’s goal to achieve net zero carbon by 2040….

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US commits $900 million for Gen III+ SMR technologies

Global, News

The US Department of Energy (DOE) has committed $900 million to advance the development and deployment of Generation III+ small modular reactor (SMR) technologies. This funding, part of the Consolidated Appropriations Act of 2024 and President Biden’s Bipartisan Infrastructure Law, is aimed at accelerating the domestic nuclear industry and supporting national climate goals. The funding is divided into two categories. Tier 1, managed by the Office of Clean Energy Demonstrations (OCED), allocates up to $800…

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MNRE clarifies ALMM exemption for solar projects with prior approval

India, News

The Ministry of New and Renewable Energy (MNRE) has clarified that its Approved List of Models and Manufacturers (ALMM) order does not apply to open access and net-metering solar projects that secured approvals before October 1, 2022.  According to an official memorandum, this exemption covers projects where the initial application for approvals, such as in-principle approval or no objection certificate, was submitted before the specified date. The application must have been filed with relevant authorities…

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World leaders gather in Baku for pre-COP29 meeting

Global, News

Ahead of the 29th Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, global leaders gathered in Baku, Azerbaijan, for the pre-COP meeting from 10–11 October.  The session, titled Enhance Ambition and Enable Action, aimed to progress key negotiations before the main summit in November. The event is focused on limiting global warming to 1.5°C, as per the 2015 Paris Agreement. A key priority at the pre-COP meeting was setting a…

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AI-Powered Load Forecasting and Smart Grids: Yellakari Kesava Charyulu’s Vision for Andhra Pradesh’s Energy Future

Analysis, Opinions and Perspective

In this insightful interview, Yellakari Kesava Charyulu, Chief Engineer at the Andhra Pradesh State Load Dispatch Center (SLDC), discusses the challenges and opportunities that come with managing a power grid in one of India’s most dynamic states. As renewable energy plays an increasingly larger role, Mr. Charyulu explains how the SLDC is adapting to integrate intermittent power sources, manage peak demand, and adopt cutting-edge technologies like artificial intelligence (AI) and smart grids. He also shares…

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Equinor acquires 9.8% stake in Ørsted, becoming second-largest shareholder

Global, News

Norwegian energy giant Equinor has acquired a 9.8% stake in Danish renewable energy company Ørsted, valued at $2.5 billion. This transaction, involving 41,197,344 shares, makes Equinor Ørsted’s second-largest shareholder. Equinor plans to increase its stake to 10%, pending regulatory approvals but does not intend to grow the stake further. Ørsted, with a renewable generation capacity of 10.4GW, is developing offshore wind projects totalling 7GW and aims to achieve a capacity of 35-38GW by 2030. Equinor…