Know What's Happening in Energy
Know What's Happening in Energy
Flex to acquire Electrical Power Products for $1.1 billion
Flex Ltd. announced a definitive agreement to buy Electrical Power Products for about $1.1B in cash. The acquisition adds roughly $323M of annual revenue and delivers a mid‑to‑high‑teens EBITDA margin. Flex expects the transaction to be accretive to adjusted earnings per share in the first full fiscal year after closing.
Canada has moved from explicit EV sales quotas to tightening fleet‑average emissions standards with tradable credits, while allowing low‑cost Chinese EVs to enter at a reduced duty. The standards will cut average emissions about 10% each year, creating lifetime credits worth $5‑$7k per vehicle. Legacy makers like GM must dramatically increase EV shares or buy credits at $500‑$700 per vehicle, whereas BYD can profit from credit sales. The policy blends emissions math and trade rules to drive electrification without a headline‑grabbing mandate.
Russia has intensified a winter bombing campaign that systematically strikes Ukraine’s power plants, transmission lines, and heating infrastructure, leaving millions without essential energy amid sub‑zero temperatures. Analysts label the strategy a modern "kholodomor," echoing the Soviet‑era famine, and argue it...
In this week’s Oil Context Weekly, the host reviews flat crude prices slipping below $68 a barrel after geopolitical chatter between the U.S. and Iran, while noting a modestly backwardated term structure with a "smiley‑faced" futures curve extending to 2027....
ULI Europe’s C Change programme has released an Asset Sustainability Committees Best Practice Guide to help owners, occupiers and property managers coordinate decarbonisation in multi‑let commercial buildings. The guide, built on interviews with twelve leading European real‑estate firms, outlines how structured...
Pacific Gas & Electric (PG&E) announced it will pilot the SPAN Edge at‑the‑meter device through its new PanelBoost program, allowing customers to add electric appliances and EV chargers without costly panel upgrades. The technology provides real‑time load management and dynamic...
VINCI Airports’ Nantes Atlantique Airport has completed a €15 million electrification programme for its airside operations. The upgrade adds twelve powered aircraft stands and one hundred electric charging points for ground support equipment, aiming to cut fuel‑burn emissions by up to...
Ørsted is exploring partnerships and M&A in Europe and the APAC region to sustain revenue growth after completing its 8.1 GW offshore construction portfolio by 2027. CEO Rasmus Errboe emphasized a value‑over‑volume approach, targeting fixed‑bottom schemes in core markets and reviewing upcoming...
Erika Tsirikou and Josh Michalowski discuss how ongoing Red Sea tensions are forcing tankers to bypass the Suez Canal and the potential reopening of the canal by 2026. They examine the resulting pressure on clean LR1 and LR2 freight rates,...
German Chancellor Friedrich Merz spent three days in Riyadh, Doha and Abu Dhabi to secure Gulf energy, investment and defence deals aimed at reducing Berlin's reliance on the United States and China. After the 2025 loss of Russian pipeline gas, Germany imported...
E-Storage, Canadian Solar’s storage arm, and Sunraycer Renewables have signed agreements to supply and service two battery energy storage systems in Franklin County, Texas, collectively called the Lupinus projects and totaling 503 MWh. Lupinus 1 (202 MWh) will break ground in Q1 2027 and...
German renewables developer PNE was passed over for a 2 GW offshore wind farm off Vietnam’s Binh Dinh province, with authorities selecting VinEnergo, a new Vingroup subsidiary. The $4.6 bn project is part of Vietnam’s pledge to install 6 GW of offshore wind by...
TotalEnergies is requesting up to $250 million from the European Bank for Reconstruction and Development to finance its 1 GW Mirny on‑shore wind farm in Kazakhstan’s Zhambyl region. The project will install roughly 140 Sany and Envision turbines ranging from 6.5 MW to...
Nordex Group announced January 2026 orders totaling 220 MW from Great Britain, Turkey and Lithuania. The British contract involves 14 N163/6.X turbines delivering over 90 MW, while Turkey receives 78 MW of turbines, marking the first use of the N175/6.X model there. Lithuania...
Haropa Port, Zhejiang Provincial Seaport Group, Bureau Veritas, MSC and TiL signed an agreement in Shanghai to launch the first green shipping corridor between France’s Haropa Port and China’s Ningbo Zhoushan Port. The corridor aligns with IMO’s 2050 carbon‑neutral target...
Everllence secured its 2,000th dual‑fuel two‑stroke engine contract, a deal placed by Cosco Shipping Lines for a 12‑ship order of 18,000‑TEU container vessels built at Jiangnan Shipyard in China. The order features the B&W 8G95ME‑GI Mk. 10.5 engine, which incorporates exhaust‑gas recirculation and...
Kongsberg Maritime secured a contract to design and equip four 15,600 dwt handy‑size tankers for Transpetro, Brazil’s Petrobras transport arm. The vessels will be constructed at Consórcio Marenova, a joint venture between Ecovix and MacLaren, and are engineered for future methanol...
U.S. authorities have seized at least seven tankers linked to Venezuela’s shadow fleet, part of a broader push to disrupt illicit oil flows from Iran, Russia and Venezuela. The seizures rely on civil forfeiture statutes rather than wartime prize law,...
China remains the world’s largest electric‑vehicle market, with millions of EVs on its streets daily. The ecosystem features a dense mix of legacy manufacturers like BYD and tech entrants such as Xiaomi and Huawei, each launching high‑performance or software‑centric models....
The energy transition is happening, faster than many realize. This week, I look at how clean energy is surging, where we can get it wrong, why silence on climate is spreading, and what we can do about it. Check out the...
Noon Energy has launched its first operational demonstration of a reversible solid oxide fuel cell (RSOFC) system that promises ultra‑long‑duration storage exceeding 100 hours. The technology decouples power and energy by using a power block, charge tank and discharge tank,...
Aypa Power has closed a $1.5 billion revolving warehouse credit facility to finance its utility‑scale battery energy storage system (BESS) projects across the United States. The facility includes a $500 million “accordion” option, making it the largest storage‑focused independent power producer (IPP)...
United Against a Nuclear Iran (UANI) is urging the United States and Malaysia to crack down on ship‑to‑ship (STS) transfers of sanctioned Iranian crude off Malaysia’s East Outer Port Limits. UANI identified about 60 dark‑fleet tankers waiting for STS operations,...
Fluence reported a 154.4% year‑on‑year revenue increase to $475.2 million in the quarter ending 31 December 2025, while its GAAP‑adjusted gross‑profit margin fell to 4.9% from 12.5% a year earlier. Net loss widened to $62.6 million and EBITDA loss grew to $52.1 million. The company’s...
The Philippine House of Representatives approved House Bill 6676, establishing a national framework for the development, utilisation and commercialisation of energy storage systems. The legislation passed with a 192‑3 vote and now awaits Senate approval before President Ferdinand Marcos Jr. can...
Australia’s New South Wales has awarded its largest ever long‑duration energy storage (LDES) tender, contracting six lithium‑ion battery projects totaling 1.17 GW of power and roughly 12 GWh of capacity. The awards, made by ASL, exceed the original 1 GW target by 117 %...
Did you know air pollution is the top preventable cause of premature death and ill-health in the world today: killing nearly 10 million people per year? And about two-thirds of that air pollution comes from burning fossil fuels? From the...
U.S. forces escalated the standoff with Iran after an F‑35 shot down an Iranian drone that approached a carrier in the Arabian Sea. Both sides have scheduled high‑level talks in Istanbul, raising hopes for a diplomatic de‑escalation. The dispute centers...
A CE Delft study commissioned by Nabu reveals a compatibility issue between on‑shore power supply (OPS) and LNG‑powered vessels. Ships with membrane or Type B tanks, which have lower pressure tolerance, may struggle to manage boil‑off gas (BOG) when connected to...
Baltic Storage Platform, a joint venture of Evecon, Corsica Sole and Mirova, inaugurated the Hertz 1 battery energy storage system – a 100 MW/200 MWh facility near Tallinn. The BESS will trade across frequency‑containment, automatic and manual frequency‑restoration reserves as well as intraday and...
Enlight Renewable Energy announced that its CO Bar Complex in Arizona will total 1.21 GW of solar PV and 4 GWh of battery storage across five stages, with an estimated $3 billion investment and $1.6 billion net cost after tax credits. The project secured a...
Wärtsilä will invest roughly €140 million to expand its Sustainable Technology Hub in Vaasa, boosting production capacity by 35% and adding an 11,000 sq m extension. The upgraded facility, slated for completion in Q1 2028, supports the company’s record‑high 2025 operating profit of €833 million...
LG Energy Solution announced a target of 90 GWh of new battery‑energy‑storage‑system (BESS) orders in the United States for 2026, raising its ESS cell output to over 60 GWh while keeping total global capacity at roughly 300 GWh. The company plans to slash...
OVO Energy, a UK supplier serving over four million homes, is facing a severe financial crisis that could lead to bankruptcy within a year. The company posted the lowest customer‑satisfaction score in the 2025 Which? survey and is one of...
Berkshire Hathaway Energy Montana has commissioned the 75 MW/150 MWh Glacier Battery System near Cut Bank, a $100 million investment that bolsters grid reliability. The battery storage enables rapid response to fluctuations from wind and solar generation. It also allows BHE Montana to...
On January 1, 2026 the United States enforced foreign‑entity‑of‑concern (FEOC) restrictions and a 25% Section 301 tariff on Chinese‑origin battery energy storage systems (BESS). The new rules have shifted procurement from a price‑only focus to a comprehensive risk‑management approach that evaluates supply‑chain...
Nuveen Infrastructure’s managing director Isabel Rodriguez de Rivera warned that Spain’s energy‑storage market still lacks a complete regulatory framework, hindering bankability of large‑scale battery projects. While the EU’s Clean Energy Package has spurred overall European BESS growth, national gaps persist,...
German utility Uniper has signed a conditional supply framework with CMBlu Energy to procure at least 5 GWh of the firm’s organic solid‑flow batteries. The agreement, running through 2037, allows Uniper to take delivery in 100 MWh blocks beginning in 2027 after...
The Department for Energy Security and Net Zero’s consultation highlights the UK’s growing reliance on imported LNG as North Sea production declines, requiring costly new compressors to reverse gas flow. Rare‑scenario modelling shows a potential £1 billion‑per‑day economic hit if the...
Britain’s National Energy System Operator (NESO) has unveiled a transitional Regional Energy Strategic Plan covering 2028‑2033, directing electricity distribution upgrades to match rapid electrification, electric‑vehicle adoption, and new data‑center loads. Developed with Ofgem and the six distribution network operators (DNOs)...
The episode examines the paradox of hydrocarbon utilization in the Middle East, highlighting how oil is still burned for electricity at massive scales while natural gas remains underdeveloped and heavily flared. It contrasts the region’s wasteful practices with global trends...
The UK Ministry of Defence has raised objections to a planned wind‑farm near the Eskdalemuir Seismological Array in Scotland, arguing that turbine vibrations could interfere with the station’s ability to detect seismic signals from nuclear tests. Eskdalemuir is the sole...
Two new reports argue that long‑duration energy storage (LDES) is critical for Britain’s net‑zero pathway. The Transition Finance Council estimates the UK will need up to 8 GW of LDES by 2030 and over 15 GW by 2050, requiring £10‑15 bn of capital...
A Royal Society report warns that roughly half of the energy used by UK industry is lost as waste heat, contributing about 14% of national emissions. By capturing and reusing this thermal energy through heat‑cascade systems, firms could slash operational...
A Marsh Risk report warns that the UK and Europe could miss out on major carbon capture and storage (CCS) investment without clearer, credible policy support. The analysis of 504 senior CCS decision‑makers shows average capture costs of $163.45 per...
The UK regulator Ofgem is introducing an automatic £40 compensation for customers who wait more than six weeks for a smart‑meter installation or who experience unresolved faults beyond five working days. The rule, effective February, expands the Guaranteed Standards of...
Former coal‑mining towns in the UK are spearheading INNO‑TREC, a €5.4 million European Commission project that puts citizens at the heart of renewable energy generation. The initiative removes technical, financial and legal hurdles to community‑owned solar schemes, pairing rooftop panels with...
The European Investment Bank Group announced a record £90 billion of financing for 2025, with nearly 60% directed to green projects. The funding supports electricity grids, storage, renewables, and climate‑adaptation infrastructure, including £10 billion for grid upgrades and 56,000 km of new power...
The UK government has created a North Sea Future Board in Aberdeen to guide the basin’s shift from oil and gas to a clean‑energy hub. The board unites oil‑gas firms, renewable players, trade unions and local leaders to unlock investment,...
London’s South Bank will soon be heated by a £72.7 million river‑source heat network that extracts low‑carbon warmth from the Thames. Developed by Hemiko, the scheme taps water‑source heat pumps to supply the BFI Southbank, Southbank Centre, National Theatre and King’s...
In this episode, Chris Keefer interviews Ken Petrunik, a veteran of Canada’s nuclear golden age who led the construction of large CANDU reactors—including the Qinshan Phase III project in China—delivered ahead of schedule and under budget under a fixed‑price EPC contract....
