Renewable Energy








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Renewable Energy

US Senate Parliamentarian: Oil and gas projects cannot avoid environmental review

A provision in the massive U.S. budget and tax bill that Congress is finalizing cannot be passed unless at least 60 Senate members vote for it. Elizabeth MacDonough is a Senate parliamentarian whose job is to ensure lawmakers follow the proper legislative procedures, like requiring 60 votes out of 100 instead of a simple majoritiy. The parliamentarian examines the mega-bill budget to make sure it adheres to the Byrd Rule. This rule, dating back decades, prohibits large pieces of legislation from including provisions that are "extraneous to the federal budget". MacDonough's list of problematic provisions adds to the hurdles facing...

Environment

GRAINS - Chicago soybeans fall on favorable weather and weaker soyoil

Chicago soybean futures declined on Tuesday after a two-day rally, due to favorable weather conditions for U.S. crops and lower soyoil price. As of 0222 GMT the most active soybean contract fell 0.23%, to $10.67 a bushel. This halted gains fueled by surging crude prices and stricter U.S. biofuel blend mandates. On Monday, soybeans reached a new high of one month and soyoil an all-time high of 20 months. Analysts say that tensions between Iran and Israel could cause energy prices to rise, causing a spike in grain prices. Andrew Whitelaw is an agricultural consultant with Episode 3. The region...

Energy Markets

World Bank will end nuclear energy ban, but still debate upstream gas

Ajay Banaga, president of the World Bank, said that its board had agreed to lift a ban on financing nuclear energy projects for developing countries. This is part of an effort to meet the growing demand for electricity. Banga sent an email outlining the bank's new energy strategy to its staff following what he described as a constructive meeting with the board. Banga said that the board had not reached a consensus on whether or not the bank should be involved in upstream natural-gas projects. He wrote, "This will need further discussion." In 2017, the global development bank, a lender...

Environment

Prices largely stable but market risks persist

The Dutch and British wholesale prices of gas were mostly stable on Friday, as Norwegian flows stabilized and the low demand allowed storage to be refilled. However, the tighter market conditions continued to support these prices. LSEG data shows that the benchmark Dutch front-month contract was up 0.26 euros at 35.18 Euro per megawatt hour or $11.68/mmBtu at 0816 GMT. Auxilione, a consultancy, said that with the June contract ending on Friday, market attention is now shifted to July. The Dutch July contract increased by 0.14 euros to 35.40 Euro/MWh. The British front-month contracts were down 1.21 pence, at 83.25...

Environment

What is in the Republican tax plan and spending plan

The Republican-led House of Representatives passed a comprehensive budget package which would meet many of the priorities of President Donald Trump. Next, the Republican-led Senate will take up the package with likely significant changes. The nonpartisan Congressional Budget Office has summarized the main elements of this package. According to them, the deficit would increase by $3.8 trillion over a period of 10 years. The estimates of CBO and Joint Committee on Taxation for some elements below are likely to be revised in the coming weeks. Tax Breaks and Tax Cuts (Cost: $2.2 trillion) Makes permanent lower income tax rates that...

Renewable Energy

Prices for Europe GAS hit a six-week high due to tighter supplies, Middle East and Ukraine concerns, and concerns about tighter supply.

The Dutch and British wholesale prices of gas rose on Wednesday to their highest level in over six weeks, boosted by a lower Norwegian supply, the competition for liquefied gas, and concerns about peace talks in Ukraine and unrest in Middle East. The benchmark Dutch front month contract rose 0.48 euros to 37.63 euros per Megawatt Hour at 0813 GMT. This was its highest level since 7 April. The British contract for the month of June increased by 1.29 pence, to 90.31 p/therm. This is the highest price since April 4. Day-ahead gas rose 0.70 pence to 90.50 p/therm. A...

Environment

Trump Administration to audit billions of energy grants awarded by Biden

The Trump administration announced on Thursday that it would audit grants of $15 billion awarded to projects involving the power grid, manufacturing supply chains and other infrastructure during the Biden Administration. Donald Trump has pushed for domestic oil, gas and coal production while also halting the construction of offshore wind farms and taking measures to relax regulations on fossil fuels. Last week, the Republican Trump administration proposed to cut billions of dollars from funding for renewable energy projects and electric car chargers. The DOE has been reviewing the billions that were rushed through the door in the last days of...

Pollution

US EPA sends a proposal for biofuel blend volume to White House for review

The U.S. Environmental Protection Agency sent a proposal rule to the White House, asking for its review. It outlines the amount of biofuels that oil refiners will have to blend into their fuel starting in 2026. Since President Donald Trump's inauguration in January, the politically powerful oil and fuel lobbies have been waiting for this proposed rule. This will be the first opportunity for the Republican President to demonstrate his support for the biofuels policies, which have historically pitted Big Oil against the Farm Belt. This dynamic changed in the run-up to the proposed rule. A coalition of oil and...

Renewable Energy

What is in the Republican health and tax plan and what's not?

Republicans in Congress released the first drafts of a sweeping package to reduce taxes and spend less, which would satisfy President Donald Trump’s call to do so. However, many details need to be worked out. Here's a summary on what they've proposed so far and what has been left out. Budget estimates for the next ten years are provided by both the Joint Committee on Taxation (JCT) and the Congressional Budget Office. What's in the Bottle? Permanently extends the lower tax rates that Trump's Tax Cuts and Jobs Act of 2017 will expire in 2025. Increases the standard deduction from...

Renewable Energy

The Trump cuts in funding force the US Renewable Energy Research Lab to lay off staff

The National Renewable Energy Laboratory, a research division of U.S. Department of Energy, which focuses on renewable energy sources such as wind and solar, announced on Tuesday it had laid off 114 workers due to federal budget reductions, stop work orders, and new directives. Why it's important The reduction in staff at NREL in Golden, Colorado, reflects a broader trend of cuts to the Department of Energy's workforce under President Donald Trump. According to NREL's website, the staff reduction is about 3% of its 3,675 employees. KEY QUOTE "NREL's Mission continues to be crucial for achieving an affordable and secured...

Renewable Fuels

ADM closes soybean processing plant at Kershaw, South Carolina

Grains merchant Archer-Daniels-Midland will permanently close its soybean processing plant in Kershaw, South Carolina, later this spring as part of a cost-cutting and consolidation push announced earlier this year, the company confirmed to on Monday. ADM has cut jobs and downsized some operations ever since February, when it announced that it would be cutting costs by $500 to $700 millions over three to five year. Dane Lisser, ADM's spokesperson, said: "After exploring many alternatives, we have determined that our Kershaw crushing plant does not align with our future operating needs." Still reeling from a scandal that sent the stock price...

Power Markets

Morgan Stanley seeks Goldman Sachs' help to sell PNE stakes, sources claim

Morgan Stanley and Goldman Sachs are exploring the possibility of selling their majority stake in German renewable projects developer PNE. This could lead to a bid being made for the 1,09 billion euro ($1.17 billion), firm. One person said that Goldman Sachs is already contacting potential private equity investors about their interest in Morgan Stanley’s 50.06% stake, currently valued at around 543 million Euros, in PNE. The people added that the deliberations are still at an early stage, and it is not certain if a deal will happen. Morgan Stanley, Goldman Sachs, and PNE declined to comment. According to German...

Europe

Energy Markets

Nextwind raises $1.6 Billion for German Wind Energy Expansion

Nextwind, an European renewable energy provider said that on Tuesday it had secured debt financing of 1.4 billion euro ($1.6 billion) for the expansion a German wind energy project. This deal allows the Berlin-based company to raise an additional 1.3 billion euro in the next five year if it meets its capacity targets. The financing is the largest ever by an independent German wind energy company. According to a source familiar with the transaction, Deutsche Bank, ING Bank, and LBBW participated in the financing as well as acting as underwriters. Nextwind has stated that it plans to increase the total...

Renewable Energy

Advisors: Britain must lower electricity prices to achieve climate goals?

In a Wednesday progress report, Britain's climate advisors stated that the country must lower its electricity prices in order to accelerate the adoption of technology to reduce emissions, such as heat pumps and electric vehicles. Britain is aiming to achieve net zero emissions in 2050. This will require electrification for sectors like heat and transport that are currently dominated by fossil fuels. It also faces high electricity prices. Piers Forster said in an annual report briefing that the "most important recommendation" we have for government is to lower the cost of electric for both households and businesses. He said that...

Renewable Energy

French spot prices jump on anticipated heatwave

The French spot electricity price increased sharply on Friday as the demand for power is expected to rise in France because of an anticipated heatwave and in Germany, as the half the country returns to work after the Corpus Christi holidays. At 8:32 GMT, the French baseload contract for Friday had increased by 27.8% to 65.50 Euros per Megawatt Hour (MWH). The German equivalent contract was not traded. Riccardo Paraviero, LSEG analyst, says that the price signal for Friday in Germany is bullish, as residual load will increase significantly with demand expected to rebound and wind supply to plummet. Data...

Western Europe

South-East Asia

Renewable Energy

Singapore's renewables use hits record highs as solar output and imports rise

An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country accelerated its local solar power production and imported more renewable energy. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state. The cross-border trade of power is seen as a key...

Oil & Gas

India's rice harvest is a record crop, resulting in a surplus of ethanol.

India has allocated record volumes of rice for ethanol production, as it battles with unprecedented inventories. These are expected to grow further when the new crop arrives. This is a turnaround from the earlier shortages which led to export restrictions. The conversion of more rice into ethanol helps reduce the rice stock in the world’s largest producer and exporter. It also keeps India’s ambitious ethanol blend programme on track, despite the drop in sugar cane supplies. India lifted the last of two years' worth of export restrictions in March. The poor rains had curtailed rice production. The abundant monsoon rainfall...

Renewable Energy

Palm oil gains for the sixth week in a row, and is at its highest level since two months.

Malaysian palm oils futures closed higher on Friday. This was the sixth weekly gain in a row, despite a weak demand for palm oil in major markets. The benchmark contract for palm oil delivery in September on Bursa Derivatives Malaysia Exchange increased 11 ringgit or 0.27% to 4,115 Ringgit ($968.24), the highest closing rate since April 15. This week, the contract increased by 4.79%. Paramalingam Supramaniam said that trading volumes were relatively low and prices had been largely accounted for by most internal and external factors. "For the trend to continue, it will be necessary for more bullish news." Demand...

Power Markets

B. Grimm Power in Thailand and Digital Edge, Singapore to invest $1 Billion in Thai data center

The companies announced in a Monday statement that they will invest $1 billion into a 100 megawatt data center in Thailand. Southeast Asia and its neighbours are becoming a popular destination for tech companies looking to invest in data centres and digital infrastructure. They want new clean energy sources to meet the soaring demand of artificial intelligence. The announcement on Monday was the latest of a series by tech giants to invest in Thailand. Bytedance Tiktok will invest $8.8 billion in five years, and Alphabet Inc.'s Google is also planning an $1 billion facility. The Thai Investment Board approved in...

Refined Products

Profit booking on weaker edible oils rivals, palm oil ends lower

Malaysian palm futures continued to fall on Thursday as investors booked profits, and the prices of competing edible oils dropped. The benchmark contract for palm oil delivery in August on the Bursa Derivatives exchange fell 44 ringgit or 1.11% to 3,904 Ringgit ($923.59) per metric ton. Anilkumar bagani, the head of research for Mumbai-based Sunvin Group, said that palm oil futures had been trading lower due to profit taking, low energy prices, and weakness in other vegetable oil markets, such as those in China and the U.S. Dalian's palm oil contract, which is the most active contract, fell by 0.37%...

Renewable Energy

China allows Brazil's ethanol-by-product in the wake of Lula visit and US-China trade dispute

Brazil signed protocols on Tuesday with China to allow the export of an ethanol-by-product used as animal feed. This is a challenge to the U.S. market dominance amid the ongoing China/U.S. Trade Standoff. This deal is outlined in an official document from the Brazilian government. Animal feed is highly valued for distillers dried grains, especially for pigs and cattle. In an interview on Monday, the president of Brazil's National Corn Ethanol Union said that Brazil and China had been working together since 2022 to reach a sanitary accord for DDG exports. He added that current "broad political shifts" are a...

Renewable Energy

Equinix Malaysia looks for alternative energy sources amid anticipated electricity tariff hike

The Malaysian data centre company Equinix announced on Wednesday that it was looking into alternative sources of energy, as it anticipates an increase in domestic electricity rates to raise its costs. The Malaysian government announced previously that it would increase electricity rates by 14.2% this July. Equinix Malaysia's managing director Cheam Tat Inn said that the company was looking into a variety of renewable energy service providers during a tour of the completed second phase of their data center in Cyberjaya. Cheam didn't specify the renewable sources used or a time frame. Equinix Malaysia operates two data centers, Cyberjaya, and...

Renewable Energy

Palm oil records weekly loss due to firmer Ringgit and weak demand

Malaysian palm futures have reversed their gains from earlier in the week, due to a stronger ringgit, and weak demand on key markets. Prices also fell for the entire week. The benchmark contract for palm oil delivery in July on Bursa Derivatives Malaysia Exchange dropped 0.79% at the close to 3,880 Ringgit ($911.23) per metric ton. The contract dropped 4.36% in the last week. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, explained that a stronger ringgit, and a lack of enthusiasm in the face of expectations of an increased inventory of palm oil in Malaysia for April,...

Environment

China shifts its focus to Europe to export used cooking oil as US tariffs impact shipments

Due to high tariffs, China's exports of used cooking oil to the United States - its biggest buyer - are expected to plummet in the coming months. Sellers will be forced to divert shipments elsewhere or to Europe, according to industry players. The Trump administration has imposed a 125% tariff on Chinese UCO imports starting this month. Three UCO traders in China said that the U.S. shipments, which were worth $1.1 billion last fiscal year, have been falling. The last cargoes are expected to arrive around the end of March or early April, before the trade grinds to an abrupt...

Renewable Energy

VEGOILS - Dalian oils and Malaysian palm oils have seen a strong week of gains on the back of a strong physical demand.

The price of Malaysian palm oils rose for the third session in a row on Friday. This was due to strong demand before Eid al-Fitr, an Islamic holiday. Also, rival vegetable oil prices were strong. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 108 Ringgit or 2.5% to $4420 ringgit (US$996.62) per metric ton. The contract rose 1.03% in the last week, marking its first weekly increase in three. A Kuala Lumpur based trader stated that "Today crude palm oil future prices are up due to strong physical demand because of the holiday...

Energy Markets

Palmetto prices rise after three sessions of bargain-buying losses

After three sessions of losses in a row, Malaysian palm oils futures rose on Wednesday. This was due to bargain hunters after the contract reached a two-month low. The benchmark palmoil contract for June delivery at the Bursa Derivatives Exchange increased 0.33%, closing at 4,259 Ringgit ($962.05) a metric ton. When prices reached the lowest point of the day, they were too low to ignore. "We saw a great deal of bargain-hunting today. A lot of buyers came out and there was also a good amount of (short)covering," said Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari. Intertek Testing Services, a...

Renewable Energy

Palmetto prices rise after three sessions of bargain-buying losses

After three sessions of losses in a row, Malaysian palm oils futures rose on Wednesday. This was due to bargain-hunting after the contract reached a two-month low. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose by 0.75% to $4277 per metric ton ($966.34). This week, the contract has fallen by 2.97%. When prices reached the lowest point of the day, they were too cheap to ignore. "We saw a great deal of bargain-hunting today. A lot of buyers came out and there was a (short)covering as well," said Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari....