Author: Graham Foster

Dive Brief: Batteries imported from China may soon be hit with tariffs nearing 150%. This could happen if all current trade measures proposed by the U.S. Congress and executive branch are approved, according to a report from Clean Energy Associates. In response, prices for 5-MWh lithium-ion battery systems produced in China could rise by 8% from 2023 to 2028, despite a significant drop in lithium carbonate prices predicted over the same timeframe. The report explored pricing trends for various lithium-ion chemistries, such as LFP and nickel-manganese-cobalt (NMC). Alternative lithium-iron-phosphate battery supplies that are preferred in energy storage are expected to…

The PJM Interconnection has garnered significant backing for its plans to improve access to the power grid by utilizing underused interconnection capacity. This initiative could lead to a rapid increase in power supplies across the region, as shared in recent filings to the Federal Energy Regulatory Commission (FERC). PJM’s proposal, introduced on December 20, aims to modify its rules regarding Surplus Interconnection Service (SIS), which could potentially unlock over 26 gigawatts (GW) of accredited capacity for the 2026/2027 delivery year. Various industry groups, including the American Clean Power Association and the Solar Energy Industries Association, noted that this change is…

The anticipated cost to build the Sizewell C nuclear power station in Suffolk may soar to nearly £40 billion, according to insiders involved in discussions regarding this major energy initiative. This figure nearly doubles the £20 billion forecast from EDF and the UK government in 2020, a surge attributed to rising construction expenses and complications faced at the nearby Hinkley Point C site. This increased estimate raises significant concerns about the government’s nuclear energy strategy, especially given the current strain on public finances and the ongoing cost-of-living crisis. EDF claims that once operational, Sizewell C could provide low-carbon electricity to…

Indonesia faces serious challenges in achieving its ambitious goal to phase out coal power plants within 15 years, according to experts. They warn that this effort requires significant policy changes and increased investment in renewable energy. In November, President Prabowo Subianto pledged to eliminate coal plants and add over 75 gigawatts of renewable energy by 2040. He also announced a target for Indonesia to achieve net zero emissions by 2050, which is ten years sooner than the plan of former President Joko Widodo. However, experts believe these targets are overly ambitious for a country that generates around 66% of its…

Donald Trump’s proposal to increase liquefied natural gas (LNG) exports could potentially add $1.3 trillion to the US economy. This move would allow the oil and gas sector to build new export facilities and pipelines, especially in the Gulf of Mexico. S&P Global projects that LNG export capacity in the US will double within the next five years. This expectation aligns with Trump’s commitment to fast-track the approval of new export terminals and boost the industry. Alan Armstrong, CEO of the gas pipeline company Williams, indicated confidence in significant contracts already in place with major LNG suppliers and anticipates securing…

Good morning! In the latest developments from Brussels, officials are reassessing their investigations into major tech companies amidst intense lobbying efforts regarding digital regulations. This review is tied to the new five-year plan of the European Commission and coincides with tech leaders urging US president-elect Donald Trump to oppose the EU’s enforcement actions. Turning our attention to energy markets, concerns are growing that the last operational Russian gas connection to Europe may be jeopardized due to the ongoing conflict in Ukraine. This news comes as Ukraine reportedly employed drones to target a section of the pipeline that supplies gas to…

BlackRock Leaves Climate Initiative Amid Political Pressures In a significant move, BlackRock has officially exited the United Nations-backed Net Zero Asset Managers (NZAM) initiative. This decision was confirmed by a spokesperson to ESG Dive, following a letter sent to clients by BlackRock’s Vice Chair, Philipp Hildebrand, and Global Head of Sustainable and Transition Solutions, Helen Lees-Jones. This departure follows a trend of major financial institutions distancing themselves from climate-focused groups, especially under the influence of emerging political dynamics. Recently, several top U.S. banks, including six of the nation’s largest, withdrew from a related initiative called the Net Zero Banking Alliance,…

The Black Desert Resort, located near Zion National Park in Ivins, Utah, has launched its first phase with a soft opening this October. This massive 630-acre project includes a resort hotel, spa, a golf course, around 1,000 condos, and 190,000 square feet of commercial space featuring shops and restaurants. Focusing on sustainability, the resort has utilized Commercial Property Assessed Clean Energy (C-PACE) financing to implement energy-efficient HVAC systems, insulation, earthquake-proofing, and water conservation strategies. Jon Day, CFO at Reef Capital Partners, the resort’s owner, stated, “We aimed to develop the property in a way that is environmentally friendly and that…

Last week, it was confirmed that the world surpassed 1.5 degrees Celsius of warming for the first time last year, highlighting the urgent reality of climate change. As we look ahead, China’s role will be crucial. Currently, China is the world’s largest emitter of greenhouse gases but is also leading the charge in green technology. The International Energy Agency predicts that a significant 60% of all new renewable energy capacity globally by 2030 will come from China. The country is a major producer of wind turbines, solar panels, electric vehicles, and lithium-ion batteries, and it holds a strong position in…

A Nigerian company has taken the lead in the local operations of ExxonMobil and aims to significantly increase oil production in the coming months. Seplat, a London-listed firm, finalized its acquisition of various oil and gas assets from ExxonMobil in December after a prolonged approval process that lasted over two years. Seplat’s leadership revealed plans to ramp up production from approximately 50,000 barrels a day to around 120,000 barrels a day within the next six months. According to the company’s Chief Financial Officer, Eleanor Adaralegbe, the assets they acquired have seen minimal investment in the past, presenting a great opportunity…