Power Markets

Cape Town's municipal authorities have approved the proposal of?Equinix to build two data centres within the city despite protests by environmental groups and activists over water use, electricity consumption, and other aspects. The U.S. listed company's planned development of the King Air Industria region is a significant step forward, especially as the demand for data centre infrastructure in Africa continues to rise. The proposed data centres are expected to need around 170 megawatts in power, making it one of the biggest projects being planned for South Africa. Teraco is Africa's biggest data-centre provider. It has stated that it has 189...

On Friday, President Donald 'Trump said he wouldn't go ahead with a civil nuclear agreement with Saudi Arabia unless?Saudi Arabia agreed?to a re-normalization of relations with Israel in accordance with the Abraham Accords. The U.S. Department of Energy announced on Wednesday that Energy Sec. Chris Wright and Prince Abdulaziz bin Salman, his Saudi counterpart, had signed an accord on the development of commercial nuclear reactors in oil rich Saudi Arabia. It said that Congress would review it. Since his first term, Trump has worked on a deal to build a nuclear power plant in Saudi Arabia. Joe Biden, the former...

Stephen Schwarzman, Blackstone's CEO, said that the company is addressing the social and environmental implications of artificial intelligence, as opposition to the construction of data centers in the United States grows. Blackstone and private capital firms pour tens or hundreds of millions of dollars in infrastructure and businesses that are aiming to increase computing capacity and run models that consume a lot of power. A June /Ipsos poll found that the deeply divided American electorate was united by their opposition to the construction of data centers. Only 14% said they would "support" a facility being built for technology companies in...

Donald Trump, President of the United States, said on Thursday that a deal between the U.S. Saudi Arabia's participation in the Abraham Accords is a condition for a deal with?Saudi Arabia. The material will not be enriched. The U.S. reached an agreement with Saudi Arabia on civil nuclear energy, which allows the kingdom to enrich uranium using U.S. technology and build nuclear reactors. The technology is available without the need for UN inspections, which Washington had previously demanded of Iran. The Civil Nuclear Deal (There won't be any enrichment !)...) The deal will only be approved for non-military uses, such...

Israel is worried about the'start of an arms race in the Middle East' after a deal between the United States & Saudi Arabia was announced on Wednesday. The agreement allows the kingdom to build nuclear power plants using American technology and enrich uranium. The?agreement announced on Wednesday, which needs Congressional approval to be implemented, is intended to allow Saudi Arabia to develop a civil nuclear programme. The Prime Minister Benjamin Netanyahu, his Defence and Foreign ministers, have not yet commented on this deal. Critics say that it compromises Israel's long-term interests. "The nuclear deal that's coming together between Israel and...

The U.S. Energy Department announced on Wednesday that the U.S. has reached an agreement with Saudi Arabia on civil nuclear energy. This deal allows the kingdom build nuclear reactors utilizing American technology, and enrich uranium. The Saudi nuclear deal has been in the making for many years, both during President Donald Trump's administration and that of?former President Joe Biden. The current deal, unlike the Biden plan does not include the so-called Additional Protocol that would allow the U.N. International Atomic Energy Agency (IAEA) to conduct intrusive quick inspections. The agreement would allow Saudi Arabia to enrich nuclear waste and reprocess...

The Trump administration said on Wednesday that it would consider putting nuclear energy projects in federal waters, as part of a broader?plan to increase domestic energy production and accelerate deployment of advanced 'nuclear technology. Marine Minerals Administration (MMA),?which oversees the development of the?U.S. The?Outer Continental Shelf's said that it had signed an agreement to coordinate the oversight of offshore nuclear projects with the Nuclear Regulatory Commission. Interior Department has been taking a series of steps to open federal waters for industrial activities. This includes space launches and mining. However, it has also tried to aggressively block the development of offshore...

After the company narrowly missed its estimates for second-quarter core profit, GE Vernova said on Wednesday that global tariffs will increase 'its costs between $100 and $200 million by '2026. Tariffs are a major burden on manufacturers, but contract protections as well as some cost recovery measures have contributed to the expected increase in costs. GE Vernova's shares fell 8% during premarket trading. According to LSEG, the Cambridge, Massachusetts-based firm reported adjusted core earnings for the quarter of $1.25 billion, which was below analysts' expectations of $1.28 million. The wind business 'continued to lag behind its faster-growing Power and Electrification...

Seven oil and gas companies are racing to secure offshore exploration rights before a New Zealand national election, which could result in a ban on new permits. The country's main parties?battle about the need for natural gas. New Zealand has attracted?interest? after the conservative government overturned last year a ban on offshore drilling, imposed in 2018. The goal was to avoid gas shortages for industry users and boost power generation during dry years when hydropower production falls. In May, the country produced 7,6 petajoules (PJ) of gas. This was largely due to fields that have declined or are about to...

Standard Nuclear's shares dropped 10% in their New York Stock Exchange debut on Thursday after the company reduced its?offering?size, as investors remain cautious about valuations. The Oak Ridge, Tennessee-based company opened its shares at $13.50 each, below the $15 offered price. This gives the nuclear fuel firm a value of $2.17 Billion. The market debut shows that investors are still cautious despite a renewed interest in nuclear power. This is fueled by the surge in electricity demand for artificial intelligence data centres and U.S. policies supporting it. Nuclear energy is gaining in popularity as technology giants and utilities seek carbon-free...

Standard Nuclear announced on Wednesday that it has raised $150m in its U.S. initial public offering, after cutting its offer size by more than half. Investors remained cautious over 'valuations. The Oak Ridge, Tennessee nuclear fuel company, which sold 10,000,000 shares at $15 per share, valued it at about $2.41 Billion. The shares will begin trading at the New York Stock Exchange under "STDN" on July 16. Originally, the company had planned to sell 18.25 million shares between $18 and $21 per share. The IPO market is gaining momentum despite the geopolitical uncertainties, as the resilient equity markets are encouraging...

The US?government announced sanctions against individuals and entities that it claimed were a part of a network that helped Iran acquire weapons. In a statement, the U.S. Treasury Department stated that sanctions would be imposed on Iranians and Russians as well as entities with bases in Iran, Russia,?and Nigeria. The move coincides with heightened tensions, including hostilities between Washington and Tehran over the Strait of Hormuz. Treasury released a statement saying that Wednesday's targets "exemplify Iran’s use of foreign aviation, transport, and financial conduits as well as travel coordinators in order to conceal the IRGC’s role 'in illicit procurement' and...

World Leaks, a ransomware group, has released on the dark Web a large cache of files relating to India's largest nuclear plant. These include purported blueprints for parts of its facilities as well as supplier details. The information was labelled by World Leaks as being from Reliance Group. Kudankulam Nuclear Power Plant is located in the southern state of Tamil Nadu and is the largest among India's seven nuclear plants. It's also the center of Prime Minister Narendra Modi’s ambitious plans to increase the country's capacity for?atomic energy?. Reliance Group of Indian businessman Anil Ambani, one of the plants' contractors,...

Rosatom, the state-owned nuclear corporation of Russia, announced 'on Friday' that it has suspended 'the return of their first employees to a construction site for new units at Iran's Bushehr 'nuclear 'power 'plant' following recent strikes against Iran. On Thursday, an Iranian official said that a U.S. missile had hit the perimeter of the facility and hit a military base on the outskirts Bushehr. Alexei Likhachev was quoted as saying that the Russian state corporation chief had halted the progress of his team in Tehran after the attack last night. He said, "We will decide the next steps in the...

The Kremlin announced that Russia and Uzbekistan began building a nuclear power plant in Uzbekistan. It is the first one of its kind in post-Soviet Central Asia. This will help meet the growing demand for energy in the region. The Kremlin announced late Thursday that Russian President Vladimir Putin, Uzbek president Shavkat Miziyoyev and other officials had met in St Petersburg to discuss the annual economic forum of Putin. The project is situated in Uzbekistan’s Jizzakh Region (central-eastern region), which borders Tajikistan and Kazakhstan. The design of the plant combines two types?nuclear?reactors: two large units that can produce 1,000 megawatts...

Two?energy?facilities in Ukraine's Chernihiv Region were damaged by Russian attacks, leaving?212,000 customers without?power. A?regional?electricity distribution company? said on Wednesday. Chernihivoblenergo reported that nearly 150,000 customers in the city and surrounding districts of Chernihiv were without electricity after a Russian airstrike damaged an energy plant in?the Chernihiv District. After the attack on the Nizhynskyi District energy facility, it was later revealed that another 62,000 consumers were left without electricity in three other districts of the?region. Ukraine's air force said that Russia launched 147 drones against the country overnight. Of these, 121 were neutralised or downed. Russia has targeted Ukrainian energy installations...

The national steelmakers union reported on Tuesday that Ukraine's nominal capacity for steel production has dropped to 8 million tons per year, from 42,5 million tons before Russia's occupation of eastern Ukrainian regions in '2013. The majority of these steel mills were either destroyed or occupied by Russia during the war. Ukraine exports mainly consist of steel and metallurgical products, along with?iron ores and agricultural commodities. According to a Ukrainian GMK Center report, "due to the continuing hostilities, rising fuel prices, and electricity shortages, the monthly steel production in 2026 will be 'unlikely' to exceed 600,000. In the first two...

Alexei Likhachev, the head of Rosatom's nuclear division, said that the company will remain in Iran despite the conflict in the Middle East. It is also committed to the agreement to build two more units at the Bushehr nuclear power plant. After the United States and Israel attacked Iran on February 28, Rosatom evacuated its staff, and suspended construction on the new units. Likhachev stated that around 450 Rosatom employees remain on the site after 150 returned via Armenia to Russia this week. "The construction and completion of the?second and?third units remain among the priorities for the?corporation. This is not...

The head of Russia's nuclear energy corporation announced on Thursday that repair crews had restored the external line of the Russian-controlled?Zaporizhzhia nucleopower plant in southeast Ukraine, nearly a month after the facility was shut down. In a public statement, Alexei Likhachev, the director general of Rosatom said that repairs were completed on the Ferosplavna-1 power line, which connects the plant with the grid, late Thursday afternoon. He said that the repair work was completed "one day earlier than scheduled" at Europe's biggest nuclear plant with its six reactors. The plant was taken over by Russia shortly after the invasion of...

Russia accused the United States of Israel on Thursday of 'trying to drag the?Arab nations into a wider -Middle East conflict' by prodding Iran to strike targets in the region. It said that Washington and Tel Aviv were not showing any signs they would relent. Since the United States and Israel launched the 'air strikes' on Iran, Saturday, the 'Iranian missile and drone attacks have targeted Arab states in the Gulf. Some of these also have close ties to Russia. Russian President Vladimir Putin spoke by phone on Monday to the leaders of four Arab Gulf States, offering to use...

Alexei Likhachev, the chief of Rosatom, said that the U.S. and Israeli air attack on Iran has halted the construction of new 'units' of Iran's nuclear 'power plant' in the 'port city' of Bushehr. Likhachev warned earlier of the danger posed by'strikes near Iranian nucleus facilities. He said that explosions were heard 'just a few kilometres from the facility, even though the facility was not being targeted. He told journalists that the work has stopped on the sites of the second &?third units. He said that it was difficult to predict what would happen next, due to the military operations...

The regional governor reported that?about 50,000 people in the Russian city Belgorod were without electricity on Friday morning after Ukrainian missiles had struck the city overnight. Governor?Vyacheslav?Gladkov stated that about half of the affected people should be connected by Friday's end following the latest attack in a long series of attacks which have led to repeated blackouts. Belgorod is located about 40 km from the Ukrainian border. In the four years that Russia invaded its neighbor, it has been the target of many Ukrainian missile and drone strikes. Gladkov posted on Telegram that "serious damage" had occurred to the energy...

A local ceasefire was declared near the Zaporizhzhia Nuclear Power Plant in southeast Ukraine on Friday, to allow repairs of an external power line. The plant is the largest in Europe. Under Russian Control Since shortly after the beginning of the war, in 2022. The plant does not produce electricity and relies on outside power to maintain its nuclear material cool in order to avoid a catastrophic incident. Russia and Ukraine accuse each other frequently of putting the safety of the plant at risk by staging attacks near it. Last year, a similar 'local truce' was established when the power...

The companies confirmed that Rosatom, the Russian state nuclear power company, has released Siemens Energy from its contract to?help build Paks II in Hungary. This confirms an earlier report on the news website Politico. Rosatom informed?that it had terminated the contract with the firm?at the?end of 2025 because its?inability? to meet its contractual obligations. Siemens Energy stated that there were no sanctions in place at the time of termination, and that it fulfilled its contractual obligations in compliance with all national and international laws. It said that "at the time when the fulfillment would have made sense, the customer had...