Nomura has forecast strong growth for India’s power sector, projecting a compound annual growth rate (CAGR) of over 7% in electricity demand between FY24 and FY27. This surge is attributed to a combination of factors, including an uptick in economic activity, greater electrification, and rising demand from emerging sectors such as data centres, electric vehicle (EV) charging, and green hydrogen production. Changing weather patterns, which have recently led to supply shortages, are also expected to contribute to the increasing demand for power. In FY25, electricity consumption is anticipated to rise by 7.2% year-on-year, slightly higher than the 7.1% growth recorded…

Norwegian offshore wind developer Vårgrønn has entered into the German offshore market after agreeing to buy a 27.4% stake in the 288MW Baltic 2 project.  The company – a joint venture of Italian oil major Eni’s Plenitude subsidiary and Norwegian oil and gas firm HitecVision – will buy the stake in the offshore wind farm from the PGGM Infrastructure Fund.  CEO Stephen Bull said: “This transaction provides Vårgrønn with a significant platform for further growth and important operational insight in a new market.” After the deal closes, the German utility EnBW[1], which developed the project, will retain a majority 50.1%…

The UK Planning Inspectorate has submitted its recommendation report on Rampion 2, the proposed 1.2 GW extension to the existing 400 MW Rampion offshore wind farm in Sussex, to the Secretary of State for Energy Security and Net Zero, who now has three months to issue a decision. The inspectorate closed the examination period in August following public consultation and review of RWE’s application for the development consent order (DCO). The Examining Authority (ExA) has sent findings and conclusions of the examination to the Secretary of State together with the recommendation. Energy Secretary Ed Miliband is expected to issue a…

An expected Republican sweep of the US presidency, House of Representatives and Senate is the “worst possible political scenario” for wind turbine makers and project developers, according to a financial analyst and industry observer. by Robyn White Adblock test (Why?)

Vårgrønn has agreed to acquire a 27.4 per cent stake in the 288 MW Baltic 2 offshore wind farm from PGGM Infrastructure Fund, marking its entry into the German market. Following the deal closing, Vårgrønn and EnBW will own 27.4 per cent and 50.1 per cent, respectively, with EnBW responsible for operations and maintenance activities. Ärzteversorgung Westfalen-Lippe, the largest pension fund in Germany, will retain the remaining 22.5 per cent indirect stake in the Baltic 2 offshore wind project. This acquisition marks Vårgrønn’s entry into Germany, an offshore wind market driven by ambitious government targets and with a strong energy demand…

The U.S. Department of Agriculture’s Forest Service announced it is making up to $34 million in funding available to support innovation and jobs in the forestry sector while supporting healthy forest landscapes.The agency is seeking proposals that will spark innovation, create new markets for sustainable wood products and renewable wood energy, and expand processing capacity.The funding, made possible by President Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act, is available through the Forest Service’s three key grant programmes to support the forest products economy: Wood Innovations Grant, Community Wood Grant, and Wood Products Infrastructure Assistance Grant Programmes.The agency is seeking…

Brazil’s president, Luiz Inácio Lula da Silva, has signed a law that will provide up to $3.36 billion in tax credits for companies producing or consuming low-carbon hydrogen in 2028–2032. by Janet Wood Adblock test (Why?)

The European Energy Exchange (EEX) and the Indian Gas Exchange (IGX), in cooperation with the Gesellschaft für Internationale Zusammenarbeit (GIZ), have agreed to support the development of a hydrogen trading market in India.  by Janet Wood Adblock test (Why?)

European Energy has inaugurated a green hydrogen facility in Måde, near Esbjerg in Denmark – the company’s first venture into large-scale hydrogen production using renewable energy, with plans to expand as soon as next year. by Janet Wood Adblock test (Why?)

Neste Corporation has cancelled plans to invest in a 120MW electrolyser project to produce renewable hydrogen at its Porvoo refinery in Finland, blaming challenging market conditions and the company’s financial performance for the decision. by Janet Wood Adblock test (Why?)