Renewable Energy

Siemens Energy announced on Wednesday that its net profit had nearly tripled during the first quarter of its fiscal year. This was boosted by AI driven demand for grid equipment and gas turbines, as well as a smaller loss in its struggling wind division. The results show a robust demand for large gas turbines, grid technology and wind turbines, which are both essential to the global construction of data centres that will power AI technology. The AI boom helped Siemens Energy's stock increase more than tenfold in the last two years. It now has a market worth of 130 billion...

Early trading on Tuesday saw European power contracts fall, due to an increase in expected wind generation and a "milder" weather forecast. The German baseload day-ahead power contract, as of 0916 GMT was 115.75 euros ($135.68)/MWh, down 26.7% compared to Monday's??close, LSEG data revealed. The French equivalent contract was 93.5 euros/MWh down 15.4% from day to day. LSEG analyst Riccardo Paraviero said that the power markets in this region were under pressure due to an anticipated fall in residual loads, especially in Germany where higher wind output is expected to offset increased demand. LSEG data shows that German wind power...

Dutch and British wholesale gasoline prices rose Friday morning due to colder weather forecasts, and a weaker wind output. The benchmark 'Dutch front month contract at TTF hub increased by 1.16 euros to 34.97 Euros per Megawatt Hour (MWh) as of 0925 GMST, according to LSEG data. LSEG data shows that the contract reached a high intraday of 35.17 during earlier trading, its highest level since August 1, last year. The Dutch March price was 0.69 euros higher, at 33.42 Euros/MWh. The UK price for February was 3.67 pence more expensive? at 91.17 pennies per therm. This week, prices have...

Dutch wholesale gas prices increased on Wednesday. They reversed earlier losses due to concerns about liquefied gas (LNG) supply if tensions escalate in Iran. LSEG data shows that the benchmark Dutch front-month 'contract' at TTF hub is up?1.42 Euros?at 32.55 Euros per megawatt hour by 1213 GMT. This is the highest level recorded since October 7, last year. The Dutch March rate was 31.66 Euros/MWh, an increase of 1.28 euros. The British day-ahead contract was down 0.40 pennies at 82.80 pence/therm. Iran warned its neighbours that it could strike U.S. military bases if Washington interferes with protests, despite the fact...

New York's Attorney General sued the Trump Administration on Friday over the suspension of construction on two offshore?wind farms that it says are needed to power a million homes and reduce the state's reliance on fossil-fuels. Letitia J., New York's Attorney General, has filed two separate lawsuits asking the federal court in Washington not to allow President Donald Trump's freeze of federal offshore leases owned by Equinor from Norway and Orsted from Denmark on December 22, 2018. The Interior Department said that it had halted the project due to complaints from?the Pentagon, that wind turbines can cause radar interference which...

Malaysian palm futures declined on Friday due to a 'profit-taking', but they posted a weekly increase based on the strength of rival edible oils on the Dalian and Chicago Exchanges and Indonesia’s plan to increase its palm oil export tax. The benchmark March palm oil contract on the Bursa Derivatives Exchange fell 5?ringgit or 0.12% to 4,038 Ringgit ($992.14) per metric ton as of?closing. The contract rose by 1.18% in the last week. After the recent rally on rumours about Indonesia's levy hike, there are a lot of profit-taking activities going on today. Profit-taking?starts when Dalian close firm draws a...

European power prices dropped sharply on the day of Wednesday due to expectations that wind generation in Germany would increase and the warmer weather would reduce demand. LSEG data shows that the French baseload for day-ahead was 39.5 euros (46.28 dollars) per megawatt 'hour at?1050 GMT. This is 54% lower than its close. The German equivalent price dropped 28% to 77.5 Euros/MWh. LSEG data shows that the German wind output will more than double on Thursday to 31.4 Gigawatts from the 12.1 GW forecasted?on?Wednesday. French nuclear capacity remains at 84%. German?power consumption will drop by 400 MW, to 61.7 GW...

The Dutch and British wholesale prices of gas rose slightly on Thursday morning, as lower wind power production forecasts increased demand for gas by?gas-fired?power plants. However, prices were still close to their?20-month lows. LSEG data shows that the benchmark Dutch front-month contract was up 0.23 euros at 26.98 Euro per megawatt hour or $9.25/mmBtu at 0845 GMT. The contract reached an intra-day minimum of?26.55 euro/MWh, on Wednesday. This is a level that has not been seen since April 20,24. The Dutch February rate was 26.98 Euros/MWh on Wednesday, up 0.18 euros. The British February 'contract' was up 0.61 cents at...

Edison's green investment will increase the Italian utility’s borrowings, said its CEO. EDF, the parent company, plans to sell a majority stake in the unit, to avoid an increase in its debt. The Italian utility announced earlier on Thursday that it will begin working on renewable projects in Italy with a combined power of more than 500 megawatts. Edison CEO Nicola Monti said in an interview that "EDF had many investments to be made in France, particularly in the nuclear sector. The intention to open (our) capital – only for a minor stake – is to allow Edison implement its...

Public Power Corporation, Greece's largest utility firm, announced on Wednesday that it plans to invest between 2026-2028 10.1 billion Euros ($11.70 billion), to accelerate its energy transformation. The group also targets earnings before interest taxes, depreciation, and amortization (EBITDA), which will be 2.9 billion euro by 2028. This is up from 1.3 million euros in 2023. Dividends are expected to increase by nearly fivefold, reaching 1.2 euros for each share, by 2028. By 2028, the plan will include 6.3 gigawatts of new renewable energy in Greece and Southeastern Europe. This will bring its total installed renewable power to 12,7 GW...

Germany's wind production is expected to be strong on Monday, even though it has fallen from the high levels that were expected on Friday. LSEG data showed that the German and French baseload power contracts for Monday were not traded by 0950 GMT Friday. According to LSEG analyst Naser Hachemi, the German residual load was relatively low on Monday, due to a strong wind supply. Thermal availability is also returning. Data compiled by LSEG shows that German wind power production is expected to fall by 6 gigawatts on Monday to 41.8 GW. Meanwhile, French wind power is projected to increase...

The Dutch and British wholesale prices of gas continued to trade within a narrow band on Wednesday morning as the demand for gas for electricity declined while heating demand increased due to the cooler weather. LSEG data shows that the benchmark Dutch front-month contract was 31.30 euros per Megawatt Hour (MWh) or $10.78/mmBtu at 0859 GMT. This is a decrease of 0.08 Euro. The Dutch December contract fell by 0.37 euros to 31.55 Euro/MWh. The British November gas prices was lower by 0.65 pence, at 80.00 pence a therm. In a daily note, LSEG analyst Ulrich Weber stated that the...

Malaysian palm futures rose for the second session in a row on Thursday, boosted by bargain-buying and improved prices against'soyoil. The benchmark contract for palm oil delivery in March on the Bursa Derivatives Market gained 13 ringgit or 0.33% to $3,979 ringgit (US$974.29) per metric ton. The recent price drop has prompted traders to buy the dips. Palm oil is also more attractive than other oils, especially soybean oil. Dalian's soyoil contract with the highest volume?fell by 0.38% while palm oil contracts grew by 0.46%. Prices of soyoil on the Chicago Board of Trade rose by 0.31%. As palm oil...

Eniya Dewi, an official from the Energy Ministry, said that Indonesia will begin road testing vehicles with biodiesel containing palm oil at 50% content in early December. The government is deciding whether or not to implement the B50 mandate in only certain sectors. In an effort to reduce the country's dependence on imported fuel, the government plans to introduce the B50 Standard in the second half next year. The palm oil content will be increased from 40% to 50%. She said this on the sidelines a conference on industry held in Bali. Eniya stated that the government will review all...

Alan Heng, CEO of Singapore's GasCo, said that the company is in negotiations with suppliers of liquefied gas for long-term agreements. The company will be operational by January 1, 2026. It is a government-owned enterprise that was created to centralise gas procurement and supply to the power sector of the city-state. Heng said that GasCo would be prepared to begin procurements on a short-term basis by then, but it wanted to establish a series long-term contracts to ensure supply. He said: "We'll occasionally take advantage of the spot markets, but we will do so with great care, as we don't...

Malaysian palm futures were little changed on Tuesday, as edible oils traded in Dalian and Chicago sideways. Market participants also awaited the Malaysian Palm Oil Board's (MPOB) data that was due the following day for clues about inventories and demand. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for delivery in November gained 1 ringgit or 0.02% to 4,489 Ringgit ($1,067.28) per metric ton. A survey shows that Malaysian palm oil inventories will rise for the sixth consecutive month in august, as production continues outpacing exports, despite an improvement in demand. Darren Lim is a commodities...

The price of Malaysian palm oils futures ended a three-week rally Friday due to the weakness of rival edible oils. Traders also closed their positions before a long weekend. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for November delivery fell 72 ringgit (1.62%) to 4,377 Ringgit ($1,040.90). The contract dropped 3.36% in the past week. A Kuala Lumpur based trader reported that overnight weakness in rival oilseeds had spilled over into palm oil futures. Some market participants may have closed positions before the long weekend. On Monday, the Malaysian Bourse and Chicago Board of Trade...

Malaysian palm futures ended lower on Thursday after four sessions of gains. Investors booked profits while an Indonesian industry group reportedly lobbied the government to postpone the B50 biofuel mandate. The benchmark contract for palm oil delivery in October on the Bursa Derivatives exchange lost 30 ringgit or 0.68% to 4,405 Ringgit ($1,046.32) per metric ton. A local news website quoted Eddy Martono, the chairman of the palm oil industry GAPKI as saying that the plan could lead to a decrease in palm oil exports. GAPKI was told that it did not submit a written request, but a government official...

Imports of seaborne coal from Asia increased in July, but this increase was mainly driven by developed economies in North Asia rather than the heavyweights China or India. According to Kpler, the total seaborne imports for fuel used to generate electricity grew by 12% in July from June's figure of 63.02 millions tons. The increase in July imports coincides with a weakening trend for Asia's seaborne shipments of thermal coal, as the top buyers China & India reduced purchases due to abundant domestic supplies and increasing generation from renewables. Kpler data shows that Asia's imports in the first seven month...

The Indonesian mining ministry has compiled a list with 18 projects totaling $38,6 billion for the development of natural resources in Indonesia. It handed it to Danantara Indonesia, a sovereign wealth fund on Tuesday to be considered for investment. Danantara, launched earlier this year by Indonesian President Prabowo Subito, is his main vehicle for achieving his 8% target of economic growth by 2029. It does so by managing the shares of all state-owned companies and reinvesting dividends into commercial projects. Prabowo's economic agenda includes the development and acceleration Indonesia's processing industries. Energy and Mineral Resources minister Bahlil lahadalia stated that...

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...

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...

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...

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...