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TotalEnergies VSB Acquisition accelerates renewable energy growth, expanding wind and solar portfolios across Germany and Europe, advancing decarbonization, net-zero targets, and the energy transition through a US$1.65 billion strategic clean power investment.

Key Points

A US$1.65B deal: TotalEnergies acquires VSB to scale wind and solar in Europe and advance net-zero goals.

✅ US$1.65B purchase expands wind and solar pipeline

✅ Strengthens presence in Germany and wider Europe

✅ Advances net-zero, energy transition objectives

In a major move to expand its renewable energy portfolio, French energy giant TotalEnergies has announced its decision to acquire German renewable energy developer VSB for US$1.65 billion. This acquisition represents a significant step in TotalEnergies' strategy to accelerate its transition from fossil fuels to greener energy sources, aligning with the global push towards sustainability and carbon reduction, as reflected in Europe's green surge across key markets.

Strengthening TotalEnergies’ Renewable Energy Portfolio

TotalEnergies has long been one of the largest players in the global energy market, historically known for its oil and gas operations. However, in recent years, the company has made a concerted effort to diversify its portfolio and shift its focus toward renewable energy. The purchase of VSB, a leading developer of wind and solar energy projects, occurs amid rising European wind investment trends and is a clear reflection of TotalEnergies' commitment to this green energy transition.

VSB, based in Dresden, Germany, specializes in the development, construction, and operation of renewable energy projects, particularly wind and solar power. The company has a significant presence in Europe, with a growing portfolio of projects in countries like Germany, where clean energy accounts for 50% of electricity today, Poland, and the Czech Republic. The acquisition will allow TotalEnergies to bolster its renewable energy capacity, particularly in the wind and solar sectors, which are key components of its long-term sustainability goals.

By acquiring VSB, TotalEnergies is not only increasing its renewable energy output but also gaining access to a highly experienced team with a proven track record in energy project development. This move is expected to expedite TotalEnergies’ renewable energy ambitions, enabling the company to build on VSB’s strong market presence and established partnerships across Europe.

VSB’s Strategic Role in the Energy Transition

VSB’s expertise in the renewable energy sector makes it a valuable addition to TotalEnergies' green energy strategy. The company has been at the forefront of the energy transition in Europe, particularly in wind energy development, as offshore wind is set to become a $1 trillion business over the coming decades. Over the years, VSB has completed numerous large-scale wind projects, including both onshore and offshore installations.

The acquisition also positions TotalEnergies to better compete in the rapidly growing European renewable energy market, including the UK, where offshore wind is powering up alongside strong demand due to increased governmental focus on achieving net-zero emissions by 2050. Germany, in particular, has set ambitious renewable energy targets as part of its Energiewende initiative, which aims to reduce the country’s carbon emissions and increase the share of renewables in its energy mix. By acquiring VSB, TotalEnergies is not only enhancing its capabilities in Germany but also gaining a foothold in other European markets where VSB has operations.

With Europe increasingly shifting toward wind and solar power as part of its decarbonization efforts, including emerging solutions like offshore green hydrogen that complement wind buildouts, VSB’s track record of developing large-scale, sustainable energy projects provides TotalEnergies with a strong competitive edge. The acquisition will further TotalEnergies' position as a leader in the renewable energy space, especially in wind and solar power generation.

Financial and Market Implications

The US$1.65 billion deal marks TotalEnergies' largest renewable energy acquisition in recent years and underscores the growing importance of green energy investments within the company’s broader business strategy. TotalEnergies plans to use this acquisition to scale up its renewable energy assets and move closer to its target of achieving net-zero emissions by 2050. The deal also positions TotalEnergies to capitalize on the expected growth of renewable energy across Europe, particularly in countries with aggressive renewable energy targets and incentives.

The transaction is also expected to boost TotalEnergies’ presence in the global renewable energy market. As the world increasingly turns to wind, solar, and other sustainable energy sources, TotalEnergies is positioning itself to be a major player in the global energy transition. The acquisition of VSB complements TotalEnergies' previous investments in renewable energy and further aligns its portfolio with international sustainability trends.

From a financial standpoint, TotalEnergies’ purchase of VSB reflects the growing trend of large energy companies investing heavily in renewable energy. With wind and solar power becoming more economically competitive with fossil fuels, this investment is seen as a prudent long-term strategy, one that is likely to yield strong returns as demand for clean energy continues to rise.

Looking Ahead: TotalEnergies' Green Transition

TotalEnergies' acquisition of VSB is part of the company’s broader strategy to diversify its energy offerings and shift away from its traditional reliance on oil and gas. The company has already made significant strides in renewable energy, with investments in solar, wind, and battery storage projects across the globe, as developments like France's largest battery storage platform underline this momentum. The VSB acquisition will only accelerate these efforts, positioning TotalEnergies as one of the foremost leaders in the clean energy revolution.

By 2030, TotalEnergies plans to allocate more than 25% of its total capital expenditure to renewable energies and electricity. The company has already set ambitious goals to reduce its carbon footprint and shift its business model to align with the global drive toward sustainability. The integration of VSB into TotalEnergies’ portfolio signals a firm commitment to these goals, ensuring the company remains at the forefront of the energy transition.

In conclusion, TotalEnergies’ purchase of VSB for US$1.65 billion marks a significant milestone in the company’s renewable energy journey. By acquiring a company with deep expertise in wind and solar power development, TotalEnergies is taking decisive steps to strengthen its position in the renewable energy market and further its ambitions of achieving net-zero emissions by 2050. This acquisition will not only enhance the company’s growth prospects but also contribute to the ongoing global shift toward clean, sustainable energy sources.

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Bitcoin energy consumption is driven by mining electricity demand, with TWh-scale power use, carbon footprint concerns, and Cambridge estimates. Rising prices incentivize more hardware; efficiency gains and renewables adoption shape sustainability outcomes.

Key Points

Bitcoin energy consumption is mining's electricity use, driven by price, device efficiency, and energy mix.

✅ Cambridge tool estimates ~121 TWh annual usage

✅ Rising BTC price incentivizes more mining hardware

✅ Efficiency, renewables, and costs shape footprint

"Mining" for the cryptocurrency is power-hungry, with power curtailments reported during heat waves, involving heavy computer calculations to verify transactions.

Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year - and is unlikely to fall unless the value of the currency slumps, even as Americans use less electricity overall.

Critics say electric-car firm Tesla's decision to invest heavily in Bitcoin undermines its environmental image.

The currency's value hit a record $48,000 (£34,820) this week. following Tesla's announcement that it had bought about $1.5bn bitcoin and planned to accept it as payment in future.

But the rising price offers even more incentive to Bitcoin miners to run more and more machines.

And as the price increases, so does the energy consumption, according to Michel Rauchs, researcher at The Cambridge Centre for Alternative Finance, who co-created the online tool that generates these estimates.

“It is really by design that Bitcoin consumes that much electricity,” Mr Rauchs told BBC’s Tech Tent podcast. “This is not something that will change in the future unless the Bitcoin price is going to significantly go down."

The online tool has ranked Bitcoin’s electricity consumption above Argentina (121 TWh), the Netherlands (108.8 TWh) and the United Arab Emirates (113.20 TWh) - and it is gradually creeping up on Norway (122.20 TWh).

The energy it uses could power all kettles used in the UK, where low-carbon generation stalled in 2019, for 27 years, it said.

However, it also suggests the amount of electricity consumed every year by always-on but inactive home devices in the US alone could power the entire Bitcoin network for a year, and in Canada, B.C. power imports have helped meet demand.

Mining Bitcoin
In order to "mine" Bitcoin, computers - often specialised ones - are connected to the cryptocurrency network.

They have the job of verifying transactions made by people who send or receive Bitcoin.

This process involves solving puzzles, which, while not integral to verifying movements of the currency, provide a hurdle to ensure no-one fraudulently edits the global record of all transactions.

As a reward, miners occasionally receive small amounts of Bitcoin in what is often likened to a lottery.

To increase profits, people often connect large numbers of miners to the network - even entire warehouses full of them, as seen with a Medicine Hat bitcoin operation backed by an electricity deal.

That uses lots of electricity because the computers are more or less constantly working to complete the puzzles, prompting some utilities to consider pauses on new crypto loads in certain regions.

The University of Cambridge tool models the economic lifetime of the world's Bitcoin miners and assumes that all the Bitcoin mining machines worldwide are working with various efficiencies.

Using an average electricity price per kilowatt hour ($0.05) and the energy demands of the Bitcoin network, it is then possible to estimate how much electricity is being consumed at any one time, though in places like China's power sector data can be opaque.
 

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PG&E Public Safety Power Shutoff curbs wildfire risk amid high winds, triggering California outages across Northern California and Bay Area counties; grid safety measures, outage maps, campus closures, and restoration timelines guide residents and businesses.

Key Points

A preemptive outage program by PG&E to reduce wildfire ignition during extreme wind events in California.

✅ Cuts power during red flag, high wind, dry fuel conditions

✅ Targets Northern California, Bay Area counties at highest risk

✅ Restoration follows inspections, weather all-clear, hazard checks

California utility Pacific Gas and Electric Co. (PG&E) has cut off power supply to hundreds of thousands of residents in Northern and Central California as a precaution to possible breakout of wildfires, a move examined in reasons for shutdowns by industry observers.

PG&E confirmed that about 513,000 customers in many counties in Northern California, including Napa, Sierra, Sonoma and Yuba, were affected in the first phase of Public Safety Power Shutoff, a preemptive measure it took to prevent wildfires believed likely to be triggered by strong, dry winds.

The utility said the decision to shut off power was, amid ongoing debate over nuclear's status in California, "based on forecasts of dry, hot and windy weather including potential fire risk."

"This weather event will last through midday Thursday, with peak winds forecast from Wednesday morning through Thursday morning and reaching 60 mph (about 96 km per hour) to 70 mph (about 112 km per hour) at higher elevations," it said, while abroad National Grid warnings about short supply have highlighted parallel reliability concerns.

PG&E noted that about 234,000 residents in mostly counties of San Francisco Bay Area such as Alameda, Alpine, Contra Costa, San Mateo and Santa Clara were impacted in the second phase of the power shutoff, as the state considers power plant closure delays with potential grid impacts, that began around noon in Wednesday.

The unprecedented power outages sweeping across Northern California has darkened homes and forced schools and business to close, even as the UK paused an emergency energy plan amid its own supply concerns.

University of California, Berkeley canceled all classes for Wednesday due to expected campus power loss over the next few days.

The university said it has received notice from PG&E, as China's power woes cloud U.S. solar supplies that could aid resilience, that "most of the core campus will be without power" possibly for 48 hours.

A freshman at California State University San Jose told Xinhua that their classes were canceled Wednesday as the campus was running out of power.

"I had to go home because even our dormitory went without electricity," the student added.

However, PG&E noted in an updated statement Wednesday night that only 4,000 customers would be affected in the third phase being considered for Kern County in Central California, compared to an earlier forecast of 43,000 people who would experience power outage.

The PG&E power shutoff was the largest preemptive measure ever taken to prevent wildfires in the state's history, and it comes as clean power grows while fossil declines across California's grid, highlighting broader transition challenges.

The San Francisco-based California utility was held responsible for poor management of its power lines that sparked fatal wildfires in Northern California and killed 86 people last year in what was called Camp Fire, the single-deadliest wildfire in California's history.

Several lawsuits and other requests for compensation from wildfire victims that amounted to billions of U.S. dollars forced the embattled the company to claim bankruptcy protection early this year.

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BC Hydro COVID-19 Bill Relief provides payment deferrals, no-penalty payment plans, Crisis Fund grants up to $600, and utility bill assistance as customers face pandemic layoffs, social distancing, and increased home power usage.

Key Points

A BC Hydro program offering bill deferrals, no-penalty plans, and up to $600 Crisis Fund grants during COVID-19.

✅ Defer payments or set no-penalty payment plans

✅ Apply for up to $600 Customer Crisis Fund grants

✅ Measures to ensure reliable power and remote customer service

BC Hydro is implementing a program, including bill relief measures, to help people pay their bills if they’re affected by the novel coronavirus.

The Crown corporation says British Columbians are facing a variety of financial pressures related to the COVID-19 pandemic, as some workplaces close or reduce staffing levels and commercial power consumption plummets across the province.

BC Hydro said it also expects increased power usage as more people stay home amid health officials’ requests that people take social distancing measures, even as electricity demand is down 10% provincewide.

Under the new program, customers will be able to defer bill payments or arrange a payment plan with no penalty, though a recent report on deferred operating costs outlines long-term implications for the utility.

BC Hydro says some customers could also be eligible for grants of up to $600 under its Customer Crisis Fund, if facing power disconnection due to job loss, illness or loss of a family member, while in other jurisdictions power bills were cut for households during the pandemic.

The company says it has taken precautions to keep power running by isolating key facilities, including its control centre, and by increasing its cleaning schedule, a priority even as some utilities face burgeoning debt amid COVID-19.

It has also closed its walk-in customer service desks to reduce risk from face-to-face contact and suspended all non-essential business travel, public meetings and site tours, and warned businesses about BC Hydro impersonation scams during this period.

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Texas Deep Freeze Energy Crisis strains grids as polar vortex triggers rolling blackouts, record natural gas and electricity prices, refinery shutdowns, WTI gains, and scarcity pricing across Texas, Oklahoma, SPP, and Mexico.

Key Points

A polar vortex slamming Texas energy: outages, record power prices, gas spikes, and reduced oil output.

✅ Record gas trades near $500/mmBtu; power hits $6,000/MWh

✅ WTI tops $60 as Texas shuts in ~1 million bpd

✅ Rolling blackouts across SPP; ERCOT scarcity pricing

A deep freeze is roiling electricity markets in more than a dozen U.S. states, leading to record-setting prices for electricity and natural gas, knocking oil production off line and shutting down some of North America’s largest refineries.

“It’s freakishly cold,” said Eric Fell, a senior natural gas analyst with Wood Mackenzie in Houston, where record cold temperatures and snow have blanketed the city, caused rolling power outages, shut down refineries and sent both natural gas and electricity prices soaring.

'It’s freakishly cold': Deep freeze slams North American energy sector

The polar vortex has led to freezing temperatures in every county in Texas, the largest energy-producing state in the U.S., and caused massive disruptions across the North American energy complex, triggering Texas power outages as far south as Mexico.

As the plunge in temperatures forced oil companies to shut in an estimated one million barrels of oil production in Texas on Monday, the West Texas Intermediate benchmark price rose above the US$60 per barrel threshold for the first time in a year to settle up 1 per cent, or US65 cents, at US$60.12 per barrel.

President Joe Biden declared an emergency on Monday, unlocking federal assistance to Texas.

People carry groceries from a local gas station on Monday in Austin, Texas. Winter storm Uri has brought historic cold weather to Texas, causing traffic delays and power outages. 

Frozen wind farms are just a small piece of Texas’s power grid woes right now.

Fell said regional natural gas and electricity prices in Oklahoma and Texas broke U.S. records over the weekend.

On Friday, Oklahoma gas transmission prices averaged US$350 per million British thermal units and Fell said one trade went as high as US$600 per mmBtu. In parts of the Texas panhandle and elsewhere, prices jumped to US$200, “all of which individually would have been new records,” Fell said, noting the previous record was US$160.

On Monday, natural gas for physical delivery in the U.S. was trading for as much as US$500 per mmBtu as demand for the heating and power plant fuel soared.  Spot gas has been trading for hundreds of dollars across the central U.S. since Thursday with a surge in heating demand triggering widespread blackouts and sending electricity prices soaring. The fuel normally trades in the region for less than US$3 per mmBtu.

Similarly, electricity prices in Texas surged to US$6,000 per megawatt hour on Monday, as U.S. power companies grapple with supply-chain constraints, which Fell said is “100 times the normal price.”

“You’re seeing scarcity pricing in power and gas. The only thing that’s different this time is it’s staying there – it’s not just an hour or two hours, it’s the whole day,” he said.

The blast of Arctic cold, which has blanketed Canada and much of the U.S., has created a massive draw on natural gas supplies, used both for home heating and industrial uses like electricity generation.

Little Rock, Ark.-based Southwest Power Pool, which coordinates electricity distribution for parts of 14 states including Oklahoma Kansas, Nebraska and even as far north as North Dakota, announced rolling blackouts across its network on Monday as a result of the power outages.

“In our history as a grid operator, this is an unprecedented event and marks the first time SPP has ever had to call for controlled interruptions of service” SPP’s executive vice-president and chief operating officer Lanny Nickell said in a release, adding the move was “a last resort” to “prevent circumstances from getting worse.”

The frigid conditions have led to a surge in natural gas prices across the continent, including in Alberta where the AECO benchmark price jumped to a seven-year high of $6.36 per thousand cubic feet last week, a price not seen since 2014.

Energy systems in Texas and Oklahoma, which are major energy exporters to other U.S. states, are built to withstand severe heat – not extreme cold. The result is a disruption to the gas supply at exactly the time the U.S. energy system is demanding those molecules.

“Given how far south it’s gone into Texas, this is where you have a lot of gas production that isn’t properly winterized,” said Jeremy McCrea, an analyst with Raymond James covering the natural gas industry.

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Kakrapar Unit 3 700MWe PHWR achieved first criticality, showcasing indigenously designed nuclear power, NPCIL operations, Make in India manufacturing, advanced safety systems, grid integration, and closed-fuel-cycle strategy for India's expansion of pressurised heavy water reactors.

Key Points

India's first indigenous 700MWe PHWR at Kakrapar reached criticality, advancing NPCIL's Make in India nuclear power.

✅ First indigenous 700MWe PHWR achieves criticality

✅ NPCIL-built, Make in India components and contractors

✅ Advanced safety: passive decay heat removal, containment spray

Unit 3 of India’s Kakrapar nuclear plant in Gujarat achieved criticality on 22 July, as milestones at nuclear projects worldwide continue to be reached. It is India’s first indigenously designed 700MWe pressurised heavy water reactor (PHWR) to achieve this milestone.

Prime Minister Narendra Modi congratulated nuclear scientists, saying the reactor is a shining example of the 'Make in India' campaign and of the government's steps to get nuclear back on track in recent years, and a trailblazer for many such future achievements. 

India developed its own nuclear power generation technology as it faced sanctions from the international community following its first nuclear weapons test in in 1974. It has not signed the Nuclear Non-Proliferation Treaty, while China's nuclear energy development is on a steady track according to experts. India has developed a three-stage nuclear programme based on a closed-fuel cycle, where the used fuel of one stage is reprocessed to produce fuel for the next stage.

Kakrapar 3 was developed and is operated by state-owned Nuclear Power Corporation of India Ltd (NPCIL), while in Europe KHNP considered for a Bulgarian project as countries weigh options. The first two units are 220MWe PHWRs commissioned in 1993 and 1995. NPCIL said in a statement that the components and equipment for Kakrapur 3 were “manufactured by lndian industries and the construction and erection was undertaken by various lndian contractors”.

The 700MWe PHWRs have advanced safety features such as steel lined inner containment, a passive decay heat removal system, a containment spray system, hydrogen management systems etc, the statement added.

Fuel loading was completed by mid-March, a crucial step in Abu Dhabi during its commissioning as well. “Thereafter, many tests and procedures were carried out during the lockdown period following all COVlD-19 guidelines.”

“As a next step, various experiments / tests will be conducted and power will be increased progressively, a path also followed by Barakah Unit 1 reaching 100% power before commercial operations.” Kakrapur 3 will be connected to the western grid and will be India’s 23rd nuclear power reactor.

Kakrapur 3 “is the front runner in a series of 16 indigenous 700MWe PHWRs which have been accorded administrative approval and financial sanction by the government and are at various stages of implementation”. Five similar units are under construction at Kakarapur 4, Rajasthan 7&8 and Gorakhpur1&2.

DAE said in January 2019 that India planned to put 21 new nuclear units with a combined generating capacity of 15,700MWe into operation by 2031, including ten indigenously designed PHWRs, while Bangladesh develops nuclear power with IAEA assistance. 

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