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Forbes: Global Clean Energy Investment Reaches Record $3.3 Trillion in 2025
In 2025, global energy investment reached a record $3.3 trillion, with clean energy attracting over twice the investment of all other sectors. The U.S. cleantech sector experienced volatility with project cancellations and regulatory delays, but venture and growth capital investment rebounded to €6.7 billion in the third quarter.
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Cleantech Articles
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Vulcan Energy Selects ABB for Lionheart Lithium Project Electrification
Vulcan Energy chose ABB as the main electrical services provider for its Lionheart project. The agreement, valued at over $50 million USD (€46 million), will support lithium production in Germany's Upper Rhine region. ABB will construct the electrical infrastructure for Vulcan's Landau lithium extraction plant and the Central Lithium Plant in Industriepark Höchst. The project aims to become one of Europe's first integrated lithium extraction and renewable energy production sites. Lionheart anticipates producing 24,000 tons of lithium hydroxide monohydrate (LHM) annually. This output could supply batteries for approximately 500,000 electric vehicles each year. Vulcan's integrated approach combines lithium extraction with the generation of 275 gigawatt-hours (GWh) of electricity and 560 GWh of heat. This supports both industrial operations and broader sustainable energy goals. Vulcan secured ten-year lithium supply agreements starting in 2028 with Stellantis and LG Corp. Construction, fully funded by a $2.56 billion USD package, is set to begin immediately. Full operation is expected within two and a half years. ABB's technology will ensure reliable and sustainable electrical operations for the project.
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Unemployment Trends, SF6 Alternatives Drive Market Shifts
U.S. unemployment figures are prompting cautious optimism amid hopes for interest rate cuts. Recent job data presents a mixed picture, yet analysts suggest predominantly positive economic trends. Lower interest rates could stimulate further economic expansion. In parallel, the energy sector faces significant regulatory changes. Starting January 2026, new EU regulations mandate a shift away from SF6 gas in medium-voltage switchgear. SF6, a potent greenhouse gas, will be replaced by cleaner alternatives. Schneider Electric has developed a solution using purified air instead of SF6. This technology aims to meet forthcoming safety and environmental standards, directly addressing greenhouse gas emissions. The transition is crucial for sustainable energy transformation. Schneider Electric's solution combines new and established vacuum technology for robust grid infrastructure. Early adopters of SF6-free technology are expected to gain a competitive advantage. Compliance with the upcoming EU regulations will strengthen both environmental performance and business prospects for proactive companies. The move signals a broader industry shift towards environmentally sound practices and sustainable energy solutions.
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Google Signs Malaysian Solar Power Agreement with Shizen Energy
Google has signed a power purchase agreement to source solar energy from a 30-megawatt farm being built in Kedah, Malaysia. The Shizen Energy Inc. subsidiary-led project is expected to begin operations in 2027, supporting Google's sustainability goals and aligning with Malaysia's green energy strategy.
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Isothermal Compressed Air Energy Storage Project Advances
Researchers are developing isothermal compressed air energy storage to improve large-scale energy storage sustainability. The AIR4NRG project aims to keep air temperature constant during storage. This process reduces energy loss and increases efficiency during compression and expansion cycles. A liquid piston enables reversible compression and expansion, boosting round-trip efficiency. The project moved from conceptual modeling to prototype development and experimental validation. Collaboration between academic and industrial partners accelerated the translation of research into practical improvements. The team successfully ran the initial test bench, providing a platform to study air and liquid interaction. Researchers can now measure temperature and pressure variations. Next, the project will produce a second-generation prototype. This prototype will demonstrate a scalable, industrial version of the system. The ultimate goal is a 200 kW energy storage product for the energy storage market. The project anticipates a round-trip efficiency of 70%.
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PR Insights for Nordic Scaleups
Survey of PR challenges among 314 Nordic startup and scaleup companies.
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Wärtsilä Expands Eraring Battery Storage Project in Australia
Origin Energy's Eraring power station in New South Wales, Australia, will see a significant battery storage expansion. Wärtsilä secured a contract to deliver the project's fourth stage, adding 360 MWh of capacity. Scheduled for completion in early 2027, the expansion raises the Eraring battery's total capacity to 700 MW / 3,160 MWh. This makes it one of the largest battery energy storage systems globally. The expanded battery system will connect to Australia's national electricity market. It will provide essential grid services, including frequency regulation and enhanced system strength. These services are crucial for maintaining grid stability as renewable energy sources increase and coal-fired power plants retire. The project aims to support a transition to a power grid reliant on renewable energy. Wärtsilä's involvement underscores the growing importance of large-scale energy storage. The company will begin work on the fourth stage in December 2025. The project will help balance the grid and ensure reliable power supply. The Eraring battery expansion represents a major investment in Australia's energy infrastructure.
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Uruguay's Renewable Energy Transition: A Case Study in Rapid Decarbonization
Uruguay dramatically shifted its electricity sector to renewable sources. In five years, the nation achieved 98% renewable electricity generation. This transformation was spearheaded by Ramón Méndez Galain, a theoretical physicist who became the country's Secretary of Energy in 2008. Galain's leadership spanned two presidential administrations. He oversaw the installation of substantial renewable energy infrastructure, including wind, biomass, and solar power facilities. Strong political backing enabled comprehensive changes. These changes included energy system infrastructure, regulations, and market design. Galain implemented long-term capacity markets. This provided predictability for investors and energy companies. It also reduced advantages for fossil fuels. Now, Uruguay generates almost 99% of its electricity from renewable sources. Hydropower and wind power constitute the majority of the energy mix. The transition had a significant economic impact. Electricity costs halved compared to fossil fuel alternatives. Renewable energy investments totaled $6 billion over five years. This created approximately 50,000 new jobs. It also contributed to an annual economic growth of 6–8%. Galain now leads Ivy, a non-profit organization. Ivy aims to assist other countries in implementing similar sustainable energy transitions.
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Reuters: China Invests $80 Billion in Overseas Clean Tech
Chinese firms invested roughly $80 billion in foreign clean tech projects in the past year, aiming to offset a domestic surplus. This brings their total overseas green tech investment since 2023 to over $180 billion, focusing on developing regions, especially Southeast Asia, to expand markets for their renewable energy, EVs, and battery technologies.
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India Denies Issuing Advisory to Halt Clean Energy Funding
The MNRE has clarified it did not advise lenders to halt financing for the entire clean energy sector in India. Their prior request for a cautious approach to financing concerned only new, standalone solar module manufacturing plants due to oversupply concerns.
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RTES System Reduces Data Center Cooling Energy Consumption
A new study highlights reservoir thermal energy storage (RTES) as a cost-effective method for cooling data centers. Researchers at the National Laboratory of the Rockies (NLR) published findings in *Applied Energy* demonstrating RTES's potential to lower energy consumption amid rising global electricity demands from AI and cloud computing. The study, released December 6, 2025, details how RTES systems store cold energy underground for later use during peak demand periods. RTES operates by chilling water and injecting it into subsurface reservoirs during cooler periods, leveraging inexpensive electricity and cold ambient air. When cooling is needed, the stored cold water is pumped up and used in heat exchangers to cool data centers. NLR's analysis indicates that RTES achieves nearly seven times the efficiency of conventional cooling methods. The study reports cost reductions from $15 per megawatt-hour (MWh) with traditional systems to $5/MWh using RTES. The research suggests that geothermal systems offer significant potential for economical cooling solutions. Ongoing investigations focus on optimizing energy use within RTES at low pressure to further decrease data center cooling expenses. The findings offer a pathway to reduce the carbon footprint of data centers, which are significant energy consumers.
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UK Battery Energy Storage System (BESS) Growth Forecast to 2050
Britain's battery energy storage systems (BESS) are projected to triple by 2030. The expansion addresses grid stability needs amid renewable energy adoption. A DNV report indicates potential growth to 50 GW by mid-century. This capacity increase supports decarbonization goals by managing the intermittent nature of solar and wind power. Lithium-ion batteries currently dominate the UK's energy storage landscape, representing approximately 95% of deployed projects. These systems balance energy supply and demand by storing excess power and releasing it during peak usage. DNV forecasts a potential rise to 50 GW and 140 GWh of energy storage capacity by 2050. The industry also focuses on safety protocols due to increased fire risks associated with battery technology. Responsible implementation and robust safety measures are crucial for energy storage to ensure a reliable and cost-effective electricity grid. The industry is actively working to improve safety standards and awareness. Successful deployment of BESS technologies will be central to the UK's energy transition.
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SolisStorage Launches EverCore Energy Storage System in Chile
SolisStorage introduced its EverCore energy storage system in Chile on December 2nd. The move aims to capitalize on Chile's growing renewable energy sector. EverCore combines a hybrid inverter, battery system, and energy management system (EMS). This integrated design targets commercial and industrial energy storage needs. Two configurations are available: a 100/120 kWh system with a 50/60 kW hybrid inverter, and a 261 kWh system with a 125 kW hybrid inverter. Chile's commitment to decarbonization drives renewable energy integration. Supportive regulations and solar project growth create demand for energy storage. SolisStorage aims to meet this demand with EverCore. Sergio Rodríguez, SolisStorage LATAM's technical director, stated that EverCore is crucial for the company's Latin American expansion. Chile is expected to lead the region in adopting advanced energy storage technologies. The company views Chile as a key market for its integrated energy storage solutions. The EverCore system is factory-assembled for simplified installation and operation. SolisStorage intends to expand its presence in Latin America following the Chilean launch.
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Gunvor CEO Tornqvist Steps Down in Management Buyout
Gunvor CEO Torbjorn Tornqvist is stepping down and selling his shares in a management buyout after the U.S. Treasury Department labeled the company a "Kremlin's puppet" because of past ties to Russia. Gary Pedersen, head of the Americas division, will become CEO as Gunvor aims to improve relations with Washington and grow its U.S. operations.
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Renewable Energy Transition: Economics and National Security
Renewable energy adoption accelerates globally, driven by economic advantages and national security needs. A Management Partners report indicates that declining costs and rapid deployment are key factors. Governments and businesses now view renewables as vital for economic strategy. Solar energy costs have plummeted to $43 per megawatt-hour (MWh) in 2024. This represents a significant decrease from over $350 per MWh in 2009. Wind power also demonstrates increased competitiveness, with prices around $44 per MWh. Renewables offer faster deployment times, crucial for rapidly expanding economies seeking energy independence. Renewable sources enhance national resilience by eliminating fuel dependency post-installation. This provides a stable, fuel-free energy supply. Policymakers are urged to establish stable, long-term regulatory frameworks. These frameworks will enable efficient grid access. The focus shifts from whether to adopt renewables to how quickly stakeholders can adapt strategies. The goal is to maximize opportunities within this critical energy transition.
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Foxway Appoints Sara Lindstrand as New Head of Sustainability
Sara Lindstrand will become Foxway's Director of Sustainability on March 2, 2026, joining from AFRY where she headed sustainability efforts. Foxway highlights Lindstrand's experience and engineering background to accelerate circular economy initiatives and aid clients in implementing sustainable practices within their businesses.
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Emicool, Yellow Door Energy Launch Dubai Solar Projects
Emicool and Yellow Door Energy began operating solar power installations in Dubai, furthering the city's sustainability goals. The collaboration resulted in four solar plants, generating a total capacity of 1.2 MWp. Located at key sites across Dubai, the facilities are projected to produce 1.5 million kWh of clean electricity annually. This output will cut carbon emissions by an estimated 600 tons each year. This reduction equals the annual energy consumption of approximately 100 homes. The project uses a solar leasing model, allowing Emicool to avoid upfront capital expenditure while securing a reliable supply of renewable energy. The installations incorporate rooftop panels, parking area shades, and vertical facade systems. These solutions maximize energy capture in a dense urban environment. The initiative supports the Dubai Clean Energy Strategy 2050 and the UAE's net-zero emissions target by 2050. The project aims to position Dubai as a model for sustainable cooling infrastructure and renewable energy adoption in urban settings.
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Sofi Filtration Secures €900K for Mineral Recovery Tech Expansion
Finnish startup Sofi Filtration received €900,000 from EIT RawMaterials to scale their ultrasound water filtration for mineral recovery. This funding through 'ERMA Booster' and 'Fast Track' will help develop pilot projects and expand internationally, focusing on market entry in Europe, Türkiye, and North America.
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Financing Sustainable Energy in Remote and Under-Electrified Communities
A new study examines financial and policy approaches to expand energy access to communities facing significant electrification challenges. Published November 28, 2025, the report addresses barriers preventing reliable energy service in informal settlements and remote rural areas. Geographic isolation and limited financial viability often impede national grid expansion. Socioeconomic disparities and high connection costs further restrict energy access, even near existing infrastructure. The research analyzes diverse funding models implemented in Kenya, Rwanda, Uganda, South Africa, Eswatini, and Madagascar. These examples demonstrate strategies to overcome obstacles in underserved regions. The study highlights results-based financing (RBF) as a potentially effective mechanism. RBF incentivizes investment by linking payments to verified outcomes, such as new connections or improved service reliability. The authors emphasize the need for energy policies that acknowledge socioeconomic inequalities. They advocate for flexible and inclusive strategies within long-term energy access plans. These strategies should prioritize the specific needs of communities currently beyond the reach of conventional electrification efforts. The report suggests a shift towards decentralized solutions and community-based ownership models to ensure sustainable and equitable energy access.
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Ingrid, Energiequelle Partner on German Battery Storage Deployment
Energiequelle and Ingrid will deploy 200 MW of battery energy storage systems (BESS) across Germany. The partnership, announced November 27, 2025, assigns Energiequelle project development leadership. Ingrid will manage financing, operation, and asset optimization. Installations will target distribution networks requiring enhanced flexibility. The companies aim for most projects to be construction-ready by 2026. Ingrid's CEO, Axel Holmberg, stated the partnership advances the company's European expansion. Their goal is to optimize over 1 GW of flexible assets in Germany by 2030. Ingrid currently manages over 450 MW of battery storage, including Finland’s largest 70 MW facility. Energiequelle brings experience from developing and operating renewable energy sources since 1997, having built approximately 2,000 MW of power infrastructure. Battery storage implementation strengthens grid resilience and improves renewable energy integration. The collaboration supports Germany's climate neutrality goals. It intends to create long-term societal value by enhancing power system stability and supporting the energy transition. The systems will be strategically placed to provide maximum grid support.
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EU Regulation: Grid-Forming Requirements for Energy Storage
Starting in 2028, the European Union will require energy storage systems exceeding 1 MW to possess grid-forming capabilities. The mandate, detailed in a recent technical report by ENTSO-E, aims to bolster grid stability. New and significantly renovated energy storage facilities must actively regulate voltage and frequency, mimicking synchronous generators. The report specifies technical requirements for these systems. Crucially, systems must maintain voltage stability during fluctuations. They also need a rapid response time of under 10 milliseconds. Synthetic inertia support is another key requirement. Compliance testing will ensure stable operation during grid disturbances. Energy storage project developers face a deadline between 2028 and 2029 for full implementation. Companies must proactively plan and upgrade systems to meet the new EU regulations. These changes will affect energy storage projects across all EU member states. The regulation ensures better grid resilience with increasing renewable energy penetration.
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Company Commits to Renewable Energy Transition by End of 2025
By the close of 2025, the company intends to source 100% of its power and heating from renewable sources. This goal supports their Ambition Zero Carbon strategy, which focuses on expanding access to clean energy and decarbonizing healthcare. The company developed a scoring system, based on Climate Groups' RE100 criteria, to assess and ensure the quality of renewable energy sources. Power Purchase Agreements (PPAs) in Sweden, the UK, and the US will cover the majority of the company's electricity needs. A ten-year PPA with Statkraft will provide 200 GWh annually from three new Swedish wind farms. The company also invests in solar installations across 20 global sites. Biomethane serves as a sustainable heating source in the US, UK, China, and Ireland, reducing carbon emissions. Through initiatives like the Sustainable Markets Initiative (SMI) and the Energize program, the company collaborates with global partners. These partnerships accelerate the shift to carbon-neutral healthcare systems and facilitate large-scale renewable energy procurement for suppliers. The company's efforts demonstrate a commitment to environmental sustainability within its operations and across the broader healthcare ecosystem.
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CAPTUS Project: CO2 Capture for Renewable Energy Production
Energy-intensive industries face pressure to cut carbon emissions. The CAPTUS project addresses this challenge by demonstrating technologies that convert captured carbon dioxide into liquid energy carriers. Launched by a consortium of 18 partners across eight EU countries, CAPTUS aims to develop cost-effective methods for decarbonizing sectors like steel, chemicals, and cement. These industries must reduce emissions while remaining globally competitive. The project focuses on three distinct processes. At a steel plant, a two-stage fermentation produces triglycerides. A chemical factory cultivates lipid-rich microalgae, followed by hydrothermal liquefaction into bio-oils. Finally, at a cement facility, electrokinetic reduction of CO2 generates formic acid. CAPTUS takes a holistic approach, considering safety, environmental impact, social factors, and business viability. Demonstrations will validate the technologies' functionality and efficiency. The project seeks to establish a pathway toward carbon neutrality for energy-intensive industries. By integrating renewable electricity and captured CO2, CAPTUS aims to create opportunities for wider industrial adoption of these processes. Further details are available on the project website.
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Transition VC's Clara Ricard Invests in Climate Tech Seed, Series A
Clara Ricard is a founding partner at Transition, a European venture capital firm focused on early-stage climate technology startups, and previously led climate investments at Balderton Capital. Transition manages $124 million in assets and has raised $100 million towards its $160 million target fund.
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Energy Storage: Reshoring and Technology Diversification Trends
The U.S. energy storage sector confronts a pivotal moment driven by rising demand and grid modernization. Companies are re-evaluating battery production locations and exploring diverse storage technologies. Published November 13, 2025, the report highlights how global trade uncertainties and reliability demands are reshaping strategies. Tariffs and trade restrictions are increasing costs for imported battery components. This prompts companies to consider onshoring and nearshoring to secure supply chains. The shift aims to build a more resilient energy storage system within the United States. To bolster grid resilience, manufacturers are urged to investigate alternative technologies. Vanadium redox flow batteries and advanced lead-acid BESS are gaining attention. These options complement lithium-ion solutions and support renewable energy integration. A diversified energy storage portfolio can enhance grid stability and address future challenges. The analysis emphasizes the importance of a multi-faceted approach to meet evolving energy needs and ensure a robust energy infrastructure.
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Scotland's Energy Storage Solutions for Renewable Energy Integration
Scotland focuses on energy storage to support renewable energy expansion amid grid constraints. The nation aims to achieve net-zero emissions by 2035, requiring substantial energy storage capacity. A UK-wide target calls for 29 GW of new energy storage to stabilize the power grid. Scotland emphasizes long-duration energy storage (LDES) systems, capable of storing and releasing power for eight hours or more. These systems balance intermittent renewable sources like wind and solar power. Companies such as Norco Group and Mhor Energy contribute scalable battery solutions and flow batteries. These efforts address key energy storage challenges. Scottish universities and research centers advance energy storage through mobile battery projects and sodium-ion battery research. Scottish Enterprise provides crucial support to companies, fostering collaboration within Scotland's renewable energy sector. These initiatives aim to enhance grid stability and facilitate the integration of renewable energy sources.
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HiTHIUM, El-Mor Partner on 1.5 GWh Energy Storage in Israel
HiTHIUM will supply long-duration energy storage for Israeli projects. The agreement with El-Mor Renewable Energy aims to construct 1.5 GWh of storage by 2025. El-Mor, a major Israeli engineering, procurement, and construction (EPC) firm, will design and build battery energy storage systems (BESS). These systems will support Israel's expanding renewable energy sector. The RAMAT BEKA project is slated to be the region's largest. HiTHIUM's ∞Power 6.25MWh solution will be deployed. Israel is increasing renewable energy capacity to reduce reliance on fossil fuels. Large-scale energy storage is crucial for grid stability. It also enables better integration of solar power. El-Mor's chairman, Avi Elkayam, emphasized the partnership's importance for resilient energy systems. HiTHIUM's senior sales director, Steven Song, stated the project will stabilize the Israeli grid. The collaboration highlights HiTHIUM's expertise in energy storage engineering. The project supports Israel's transition to sustainable energy.
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Battery Storage Vital for Bulgaria's Carbon Neutrality Goals
Battery storage systems are essential for achieving carbon neutrality, according to EVN Bulgaria's Vice Chairman Kalina Trifonova. Speaking on November 7, 2025, Trifonova emphasized that integrating battery storage addresses the inherent variability of renewable energy sources like solar and wind power. These systems store surplus energy and release it when demand exceeds production, ensuring grid stability. Southeastern Europe, particularly Bulgaria, possesses the technical capabilities and EU support to become a regional battery storage hub. The region has received over €587 million in EU funding through the RESTORE program, incentivizing battery storage deployment. However, Trifonova cautioned that political and regulatory uncertainties could impact investment. EVN Bulgaria aims to optimize battery storage utilization and provide services that bolster an efficient energy market, maximizing revenue generation from these assets. The company views strategic deployment of battery technology as crucial for a reliable and decarbonized energy future within Bulgaria and the broader region.
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Bloomberg: US Economy Could Benefit From Abandoning Green Energy Goals
Bloomberg Economics suggests prioritizing fossil fuels could marginally increase the U.S. GDP by 1% through 2050 compared to clean energy policies. However, if other countries maintain green initiatives, the global economy could contract by 0.2% relative to baseline projections. A Bloomberg Economics analysis projects that prioritizing fossil fuels over green energy initiatives could provide a marginal boost to the U.S. economy. The report, which models economic impacts through 2050, suggests that policies favoring fossil fuels—akin to those proposed by former President Donald Trump—could increase U.S. GDP by approximately 1% relative.
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Bloomberg: India Considers Canceling Renewable Projects Due to Client Struggles
TL;DR: India is considering canceling renewable energy projects that make up around 20% of the country's total green power capacity due to insufficient client demand. These potential cancellations highlight existing difficulties in India's renewable energy sector. Bloomberg.com reports that India is considering canceling renewable energy projects representing approximately 20% of the nation's total green power capacity. These projects are reportedly struggling to attract sufficient client demand. The potential cancellations underscore existing challenges within India's renewable energy sector.
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CBRE Acquires Pearce Services for $1.2B to Expand Infrastructure Maintenance
CBRE acquired Pearce Services from New Mountain Capital for $1.2 billion in cash, plus a possible $115 million earn-out, to bolster its Building Operations & Experience unit. CBRE expects Pearce Services to add more than $350 million in core EBITDA by 2026, focusing on high-growth telecom, energy, and EV charging infrastructure sectors.
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SAEL Industries Files for $521 Million IPO to Fund Expansion
SAEL Industries, an Indian renewable energy company, is pursuing an IPO to raise 45.75 billion rupees, consisting of new shares and Norfund selling existing shares. The company intends to use these funds to invest in its subsidiaries, SAEL Solar P5 and SAEL Solar P4, and to pay down its debt, while its contracted renewable energy capacity is 5,765.70 megawatts as of September 30.
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Orsted Divests 50% Stake in UK Wind Farm to Apollo for $6B
TL;DR: Ørsted will sell 50% ownership of the Hornsea 3 offshore wind farm in the UK to Apollo Global Management for around 39 billion Danish crowns, aiming to improve its financial standing amidst cost increases. Apollo will also fund half of the remaining construction, with Ørsted retaining the other 50% ownership.
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Caterpillar Boosts Earnings Targets Amid Surging Energy, Equipment Demand
TL;DR: Caterpillar Inc. is planning to more than double its gas turbine production capacity, according to Bloomberg.com. This expansion aims to capitalize on increased demand for natural gas power generation, though specific earnings projections and detailed market analysis were not revealed.
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Bloomberg.com: Wall Street's AI Energy Agenda at Global Climate Talks
TL;DR: Bloomberg reported that the finance industry's adjustments relating to climate change will be a key focus in the near future. These evolving approaches within the financial sector will be highlighted in the days ahead. Bloomberg reports that the finance industry's evolving approach to climate change will be prominently showcased in the coming days.
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Reuters: Beta Technologies Secures $1.01 Billion in U.S. IPO
Electric aircraft manufacturer Beta Technologies raised $1.01 billion in its IPO, pricing 29.9 million shares at $34 each and surpassing its initial target. The IPO values the Vermont-based company at $7.44 billion, with trading set to begin on the New York Stock Exchange under the ticker symbol "BETA.".
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Controlled Thermal Resources Plans 2026 IPO Targeting Federal Funding
Controlled Thermal Resources (CTR) plans an IPO in 2026 to secure U.S. federal funding for its lithium projects, preceding it with the creation of American Critical Resources, a publicly traded entity holding CTR's mineral assets and some geothermal power generation. The success depends on CTR's unproven direct lithium extraction (DLE) technology to meet supply obligations with companies like General Motors and Stellantis.
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Reuters: Beta Technologies valued at $7.4 billion after muted debut
Electric aircraft manufacturer Beta Technologies debuted on the New York Stock Exchange with a $7.44 billion valuation and an initial offering price of $34 per share, raising $1.01 billion in its upsized IPO. CEO Kyle Clark stated that Beta, already in production and progressing through certification, expects certification for its eVTOL aircraft by late 2027 or early 2028.
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EU to finalize new climate goal for COP30 summit
EU climate ministers are negotiating to finalize a 2040 climate target, with a central proposal of a 90% net greenhouse gas emissions reduction from 1990 levels. This target faces divisions among member states, like Italy and Poland who have concerns and the Netherlands and Spain who want more ambitious goals, over the impact on industries and the use of international carbon credits.
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Abu Dhabi Energy Chief Al Jaber Appointed CEO of Investment Unit
Sultan Al Jaber, who is already Abu Dhabi's energy chief and CEO of Adnoc, has now also been appointed CEO of XRG, Adnoc's international investment unit. This move supports Adnoc's global expansion into gas and chemicals following increased sector acquisitions and follows the retirement of Khaled Salmeen, XRG's former chief operating officer.
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AI Addresses Solar Scalability:
The solar industry's growth is limited by manual operations, leading AI companies to automate "soft costs" like sales, marketing, and system design. This involves streamlining lead qualification, creating proposals, optimizing layouts, and monitoring projects to handle larger volumes and reduce costs.
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Brazil Begins COP30-Related Climate Events Amidst Global Focus
Brazil started a three-week series of climate events to prepare for COP30, featuring speakers like Finance Minister Fernando Haddad and UNFCCC Executive Secretary Simon Stiell. The launch signals increased climate activity in Brazil, although specific details about the events are currently scarce.
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Bloomberg.com: Beta Technologies Raises $1 Billion in Oversubscribed IPO
Beta Technologies completed its IPO, raising over $1 billion after pricing shares at $34 and offering 29.9 million shares. Oversubscribed by a factor of 20, the IPO values Beta Technologies between $7.44 billion and $7.6 billion. Electric aircraft manufacturer Beta Technologies Inc. has successfully completed its U.S. initial public offering, raising over $1 billion, according to Bloomberg.com. The IPO priced shares at $34, surpassing the initial range of $27 to $33, and the offering was upsized to 29.9 million shares. Investor demand significantly exceeded expectations, with the IPO reportedly oversubscribed.
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Forbes:
Alan Ohnsman's Forbes articles, often highlighted in the "Current Climate" newsletter, delve into cleantech and transportation advancements, encompassing AI energy use, geothermal progress, and affordable EVs/hydrogen. His work features Redwood Materials' battery expansion, Uber's EV incentives, Rivian's SUV launch, Waymo's European expansion, lithium extraction innovations, and a comparison of China's cleantech exports versus U.S. oil and gas.
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Forbes:
TL;DR: Forbes' Current Climate newsletter highlights AI's rising energy demands and strategies to make electric vehicles more affordable. Rivian's CEO, RJ Scaringe, also offers his perspective on China's competitive electric vehicle pricing. This week's Current Climate newsletter from Forbes addresses the escalating and potentially unsustainable energy consumption of artificial intelligence. The newsletter further explores strategies for enhancing the affordability of electric vehicles. Finally, Rivian CEO RJ Scaringe provides insights into China's competitive pricing advantage in the electric vehicle market.
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Reuters: World climate plans need to stick as deadline passes
64 countries have submitted updated NDCs to the UN, a significant increase from the initial deadline, but nations responsible for 70% of global emissions, including the EU and US, are still outstanding. NDCs, in addition to being environmental commitments, are critical economic strategies that must be actionable, supported by public-private partnerships and designed to attract private capital for a low-carbon transition.
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