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Summary Share price underperformed peers Revenues from renewables sector complicated by costs and technical problems Elliott Management stake increased the pressure for strategy change Renewable energy set to grow faster than fossil fuels (Reuters) – BP has returned to its oil and gas roots in a spectacular about-turn following its trailblazing attempt five years ago …
BP’s Green Failure Offers Big Oil a Lesson in Moderation Read More »
(Reuters) – German wind turbine maker Nordex expects continued growth in its U.S. market despite changes to the renewables landscape in the short term, its CEO said after better than expected core earnings. U.S. President Donald Trump suspended offshore leasing for wind power on his first day in office in January, hitting share prices of …
Wind Turbine Maker Nordex Upbeat on Long-Term US Prospects Read More »
Announces deal to buy National Grid’s U.S. onshore renewables business including solar parks and onshore wind farms By Rachel Morison and William Mathis Brookfield Asset Management Ltd. agreed to spend US$1.7 billion in a deal to expand its U.S. onshore renewables business as the company bets there will be increasing demand for electricity from data …
Brookfield Makes $1.7 Billion Renewables Bet on Increasing AI, Data Power Needs Read More »
BEIJING, Feb 19 (Reuters) – China invested 6.8 trillion yuan ($940 billion) in clean energy in 2024, approaching the $1.12 trillion in global investment in fossil fuels, according to a new analysis for U.K.-based research organisation Carbon Brief. That was despite growth in China’s clean energy investments slowing to 7% from 40% in 2023 amid …
Developers fear the US president may seek to block solar and wind projects. Renewable-energy developers knew US President Donald Trump preferred oil and gas to solar and wind — and long opposed offshore turbines. But they were hoping he wouldn’t throw roadblocks in front of other clean-power projects. After the last week, they’re not so …
Trump’s Renewables Permit Flip-Flop Unsettles Sector Read More »
China’s top economic planning agency said on Sunday it was taking steps to scale back subsidies for renewable energy projects after a boom in solar and wind power installations. China broke its own records for new solar installations in 2024 with installed capacity up 45% from the previous year. China now has almost 887 GW …
China to Roll Back Clean Power Subsidies After Boom Read More »
(Reuters) – Buyout firm TPG’s climate investment arm will acquire Altus Power in an all-cash deal worth $2.2 billion, including the assumption of debt, the companies said in a statement on Thursday. The announcement, confirming a Reuters report from December that TPG Rise Climate was in talks to acquire Altus, sent shares in the company …
TPG to Buy Solar Firm Altus Power for $2.2 Billion Read More »
(Reuters) – Norway’s Equinor is reducing its ambitions for developing renewable energy capacity by 2030, it said on Wednesday, the latest move by a European energy company to cut green targets as the market for renewables sours. Equinor follows peers BP and Shell, which have trimmed plans to expand in renewable energy, especially offshore wind, …
Equinor Cuts Renewable Energy Target Due to Industry Headwinds Read More »
Administration considering retooling energy loan program Loan program could be revamped to focus on different sectors The Trump administration is exploring legal options to cancel loans issued under a $400 billion program to finance clean-energy technology as it considers overhauling the initiative, according to a person familiar with the matter. The newly installed director of …
Trump Mulls Revoking Loans From $400 Billion Clean-Energy Office Read More »
52-page document details which programs are under review White House is scrutinizing funding as part of overhaul A $400 billion green bank for clean energy projects and a popular consumer tax credit for electric vehicles are among federal programs being scrutinized amid a broader order from the Trump administration for a government-wide spending freeze. The …
Trump Eyes Biden’s Green Bank, EV Tax Credits Amid Freeze Read More »
