Author: Graham Foster

In the lead-up to the U.S. general election, JD Vance, who is running alongside Donald Trump, criticized Vice President Kamala Harris for the administration’s energy policies. Vance noted that these policies have led to the U.S. depending too much on imported clean technology. He emphasized, “We need to manufacture more solar panels here in the U.S.” Interestingly, as Vance raises these points, there seems to be a shift happening in solar panel production domestically. This newsletter will explore the current state of U.S. solar manufacturing and what it means for future growth. In related news, the impact investing sector continues…

In a notable legal victory, Francesco Mazzagatti, the CEO of Viaro Energy, has been cleared of accusations related to asset misappropriation from a failed joint venture in the North Sea. The claims were made by Taqa, the state-owned energy firm of Abu Dhabi, and the UK’s Spirit Energy in the High Court of England. This decision marks a significant success for Viaro, which has invested heavily in around 15 North Sea oilfields, as well as areas in the Atlantic Ocean and the Netherlands over the last five years. The company focuses on maximizing the remaining resources in aging oilfields, which…

A leading commodities dealmaker from the UK has taken legal action against Barrick Gold, claiming he played a crucial role in the company’s $6 billion merger with Randgold Resources but was ultimately excluded from the deal at the last moment. Ian Hannam, known for his significant influence in mining mergers and acquisitions, expressed his disappointment in a London High Court hearing, asserting that his firm, H&P Advisory, is owed payment for its considerable efforts in facilitating the merger, which took place in 2018. H&P is seeking up to $18 million from Barrick Gold, whose partnership with Randgold established it as…

Summary: General Motors (GM) has signed a non-binding agreement to sell its stake in the Ultium Cells battery plant located in Lansing, Michigan, to LG Energy Solution, as stated in a December 2 press release. Under this agreement, LG Energy Solution will quickly gain access to the 2.8 million-square-foot facility to begin setting up battery cell manufacturing equipment, with the plant expected to have an annual output of 41 GWh. GM aims to finalize this transaction in the first quarter of 2025, which will assist the company in recovering some of its $2.6 billion investment in the facility. Insights: The…

Sir Keir Starmer has made changes to his government’s green energy targets and revised his economic growth plans as he looks to refocus after a challenging start to his role as Prime Minister. On Thursday, Starmer announced that the UK would now aim for at least 95% clean power by 2030, stepping back from a previous commitment to operate on “100% clean and cheap power” by that year. Despite this adjustment, he emphasized that his party’s green agenda, launched two years ago, remains unchanged. During his address at Pinewood film studios near London, Starmer laid out new policy goals but…

Chevron, one of America’s largest oil companies, announced it will reduce its spending on capital projects next year, marking the first cut since the oil market collapsed due to the pandemic. The company plans to set its capital expenditure budget for 2025 between $14.5 billion and $15.5 billion, down from this year’s $15.5 billion to $16.5 billion range. This decision comes as the global oil market fears an oversupply, leading to decreased oil prices. Chevron’s new budget reflects its commitment to maintaining financial discipline, according to CEO Mike Wirth. He emphasized that the company is focusing on profitable projects and…

Thames Water, the largest water utility in the UK, has received a proposal from Covalis Capital. This bid aims to involve France’s Suez to help manage the potential disbanding of Thames Water before its future listing on the stock market. This proposal comes as Thames Water grapples with nearly £19 billion in debt and faces the risk of losing cash flow in the upcoming year. Covalis, a UK-based infrastructure investor, plans to offload significant assets from Thames Water, possibly including complete regions like the Thames Valley. The goal is to eventually take the remaining parts of the company public. The…

Dive Brief: ConnectDER, known for its home adapters for electric vehicles and solar power, announced on Tuesday that it has raised $35 million in a funding round led by Decarbonization Partners, a collaboration between BlackRock and the Singaporean investment firm Temasek. Decarbonization Partners was one of two new investors in this round, alongside MassMutual Ventures, with six other investors also participating. This funding will enable ConnectDER to boost its growth as it prepares to launch a new product called the “IslandDER” adapter, which allows homeowners to maintain energy backup and resiliency by disconnecting and reconnecting to the utility grid. Dive…

Key Announcement: Amazon Web Services (AWS), a subsidiary of Amazon that provides cloud services to various businesses, has announced a new partnership to tackle carbon emissions in its data centers. The collaboration with Orbital Materials focuses on enhancing sustainability in AWS operations, utilizing artificial intelligence to support innovative solutions. AWS plans to update its data center infrastructure to incorporate new components that will improve energy efficiency and reduce the carbon footprint. Details of the Partnership: As part of this initiative, Orbital Materials will test its carbon removal technology in AWS data centers by the end of 2025. The company leverages…

French energy company EDF, which is partly owned by the state, has decided to extend the operation of four older nuclear power stations in the UK. This move is expected to strengthen the UK’s energy security. The plants, Hartlepool and Heysham 1, which were set to close in March 2026, will now stay open until March 2027. Meanwhile, Heysham 2 and Torness, initially slated for closure in March 2028, will now operate until March 2030. These power stations, located in northern England and southern Scotland, were built in the 1980s. They were originally supposed to close in 2023, but this…