Hedge fund bets on EVs, Chinese wind

By Reuters


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CRA Management, a clean-technology focused hedge fund manager, is betting on offshore wind, electric vehicles and cleaner coal, all technologies that it sees taking off on a massive scale in Asia.

Andrew Pidden, managing director of the Singapore-based firm, said the world will move toward a low energy and low carbon economy because of several large drivers — the rising cost of energy, the desire to clean up the planet and a push from consumers for green products.

"This trend is going to continue for the foreseeable future, because resources are constrained — the atmosphere has been used as a dump for free," said Pidden on the sidelines of a UBS hedge fund conference.

CRA, part of Asia-focused brokerage CLSA, manages $100 million of assets spread over several funds, including a long-short fund that invests in clean tech equity and a more focused fund dedicated to clean water.

CRA has beaten indices such as the MSCI index of Asia-Pacific stocks traded outside Japan since its inception in August 2006, Pidden said without giving details, though many clean-tech funds dived last year.

Pidden said the firm was betting on existing technologies and did not like to take technology risks. He said the areas investors were most interested in, because of the potential scale, were transportation and power generation.

"We believe in 10 years there will be a lot of wind off China and South Korea," he said. "People want electricity — coal as power generation needs to be addressed," he said.

China expects wind capacity to hit 100 gigawatts by 2020. Vestas is the world's biggest maker of wind turbines, while Chinese industry suppliers include gearbox maker China High Speed Transmission and China Wind Systems.

A move to fully electric cars would completely change the auto supply chain, from different raw materials such as lithium for batteries to more consumer financing for the higher initial purchasing cost and less need for a spare parts industry.

"In 15 years there will be drop in demand for oil as a transportation fuel," he said.

Chile's SQM is the world's top lithium producer and experts say a lithium boom may be coming. Bolivia holds 50 percent of the world's lithium deposits, but extracting it may be a challenge.

"The era of oil will be over by 2050 because we will have electrified the transportation system," Pidden said confidently.

He said Asian countries were in various states of moving toward such cleaner economies, with Japan leading the globe in making its manufacturing more energy-efficient after the 1970s oil shocks, China building more nuclear power capacity than anyone else, and India studying how to avoid polluting its ground water.

The fund has a large exposure to Japan, home to electric car leaders such as Toyota and Nissan as well as battery firms Panasonic and Hitachi. Automakers and battery firms are now seeking tie-ups.

"Asia leads on battery development, solar panel production, and it's soon to lead in installations with China," he said. "Asia will lead the world in the development of these products."

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Ireland goes 25 days without using coal to generate electricity

Ireland Coal-Free Electricity Record: EirGrid reports 25 days without coal on the all-island grid, as wind power, renewables, and natural gas dominated generation, cutting CO2 emissions, with Moneypoint sidelined by market competitiveness.

 

Key Points

It is a 25-day period when the grid used no coal, relying on gas and renewables to reduce CO2 emissions.

✅ 25 days coal-free between April 11 and May 7

✅ Gas 60%, renewables 30% of generation mix

✅ Eurostat: 6.8% drop in Ireland's CO2 emissions

 

The island of Ireland has gone a record length of time without using coal-fired electricity generation on its power system, Britain's week-long coal-free run providing a recent comparator, Eirgrid has confirmed.

The all-island grid operated without coal between April 11th and May 7th – a total of 25 days, it confirmed. This is the longest period of time the grid has operated without coal since the all-island electricity market was introduced in 2007, echoing Britain's record coal-free stretch seen recently.

Ireland’s largest generating station, Moneypoint in Co Clare, uses coal, with recent price spikes in Ireland fueling concerns about dispatchable capacity, as do some of the larger generation sites in Northern Ireland.

The analysis coincides with the European statistics agency, Eurostat publishing figures showing annual CO2 emissions in Ireland fell by 6.8 per cent last year; partly due to technical problems at Moneypoint.

Over the 25-day period, gas made up 60 per cent of the fuel mix, while renewable energy, mainly wind, accounted for 30 per cent, echoing UK wind surpassing coal in 2016 across the market. Coal-fired generation was available during this period but was not as competitive as other methods.

EirGrid group chief executive Mark Foley said this was “a really positive development” as coal was the most carbon intense of all electricity sources, with its share hitting record lows in the UK in recent years.

“We are acutely aware of the challenges facing the island in terms of meeting our greenhouse gas emission targets, mindful that low-carbon generation stalled in the UK in 2019, through the deployment of more renewable energy on the grid,” he added.

Last year 33 per cent of the island’s electricity came from renewable energy sources, German renewables surpassing coal and nuclear offering a parallel milestone, a new record. Coal accounted for 9 per cent of electricity generation, down from 12.9 per cent in 2017.

 

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PG&E keeps nearly 60,000 Northern California customers in the dark to reduce wildfire risk

PG&E Public Safety Power Shutoff reduces wildfire risk during extreme winds, triggering de-energization across the North Bay and Sierra Foothills under red flag warnings, with safety inspections and staged restoration to improve grid resilience.

 

Key Points

A utility protocol to de-energize lines during extreme fire weather, reducing ignition risks and improving grid safety.

✅ Triggered by red flag warnings, humidity, wind, terrain

✅ Temporary de-energization of transmission and distribution lines

✅ Inspections precede phased restoration to minimize wildfire risk

 

PG&E purposefully shut off electricity to nearly 60,000 Northern California customers Sunday night, aiming to mitigate wildfire risks from power lines during extreme winds.

Pacific Gas and Electric planned to restore power to 70 percent of affected customers in the North Bay and Sierra Foothills late Monday night. As crews inspect lines for safety by helicopter, vehicles and on foot, the remainder will have power sometime Tuesday.

While it was the first time the company shut off power for public safety, PG&E announced its criteria and procedures for such an event in June, said spokesperson Paul Doherty. After wildfires devastated Northern California's wine country last October, he added, PG&E developed its community wildfire safety program division to make power grids and communities more resilient, and prepares for winter storm season through enhanced local response. 

Two sagging PG&E power lines caused one of those wildfires during heavy winds, killing four people and injuring a firefighter, the California Department of Forestry and Fire Protection determined earlier this month. Trees or tree branches hitting PG&E power lines started another four wildfires in October 2017. Altogether, the power company has been blamed for igniting 13 wildfires last year.

"We're adapting our electric system our operating practices to improve safety and reliability," Doherty said of the safety program. "That's really the bottom line for us."

Turning off power to so many customers was a "last resort given the extreme fire danger conditions these communities are experiencing," Pat Hogan, senior vice president of electric operations, said in a statement. Conditions that led the company to shut off power included the National Weather Service's red flag fire warnings, humidity levels, sustained winds, temperature, dry fuel and local terrain, Doherty said, amid possible rolling blackouts during grid strain.

The company de-energized more than 78 miles of transmission lines and more than 2,150 miles of distribution power lines Sunday night. Many schools in the area were closed Monday because of the planned power outage, highlighting unequal access to electricity across communities.

Late Saturday and early Sunday, PG&E warned 97,000 customers in 12 counties that the shut off might go into effect. Through automated calls, texts and emails, the company encouraged customers to have drinking water, canned food, flashlights, prescriptions and baby supplies on hand.

Power was also turned off in Southern California on Monday.

San Diego Gas & Electric turned off service to about 360 customers near Cleveland National Forest, where multiple fires have scorched large swaths of land in recent years.

SDG&E has pre-emptively shut off power to customers in the past, most recently in December when 14,000 customers went without power.

Southern California Edison, the primary electric provider across Southern California — including Los Angeles — has a similar power shutoff program. As of Monday night, SCE had yet to turn off power in any of its service areas, a spokesperson told USA TODAY.

 

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Quebec Hit by Widespread Power Outages Following Severe Windstorm

Quebec Windstorm 2025 disrupted Montreal and surrounding regions, triggering power outages, Hydro-Québec repairs, fallen trees, infrastructure damage, and transport delays, while emergency response and community resilience accelerated restoration and recovery efforts across the province.

 

Key Points

A severe April 29 windstorm with 100 km/h gusts caused outages, damage, and emergency recovery across Quebec.

✅ Gusts exceeded 100 km/h across Montreal and nearby regions

✅ Hydro-Québec restored power; crews cleared debris and lines

✅ Communities shared resources, shelters, and volunteer support

 

A powerful windstorm swept across Quebec on April 29, 2025, leaving tens of thousands of residents without electricity and causing significant damage to infrastructure. The storm's intensity disrupted daily life, leading to widespread outages across the province, fallen trees, and transportation delays.

Storm's Impact

The windstorm, characterized by gusts exceeding 100 km/h, struck various regions of Quebec, including Montreal and its surrounding areas. Hydro-Québec reported extensive power outages affecting numerous customers. The storm's ferocity led to the uprooting of trees, downing of power lines, and significant damage to buildings and vehicles.

Response and Recovery Efforts

In the aftermath, emergency services and utility companies mobilized to restore power and clear debris. Hydro-Québec crews worked tirelessly, much like Sudbury Hydro teams did in Ontario, to repair damaged infrastructure, while municipal authorities coordinated efforts to ensure public safety and facilitate the restoration process. Despite these efforts, some areas experienced prolonged outages, highlighting the storm's severity.

Community Resilience

Residents demonstrated remarkable resilience during the crisis. Many communities came together to support one another, as seen when Toronto neighborhoods rallied during lingering outages, sharing resources and providing assistance to those in need. Local shelters were set up to offer warmth and supplies to displaced individuals, and volunteers played a crucial role in the recovery process.

Lessons Learned

The storm underscored the importance of preparedness and infrastructure resilience, including vulnerabilities highlighted by a recent manhole fire affecting Hydro-Québec customers. In response, discussions have been initiated regarding the strengthening of power grids and the implementation of more robust emergency response strategies to mitigate the impact of future natural disasters.

As Quebec continues to recover, the collective efforts of its residents and emergency services serve as a testament to the province's strength and unity, even as similar strong-wind outages affect other regions, in the face of adversity.

 

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TagEnergy Launches France’s Largest Battery Storage Platform

TagEnergy France Battery Storage Platform enables grid flexibility, stability, and resilience across France, storing wind and solar power, balancing supply and demand, reducing curtailment, and supporting carbon neutrality with fast-response, utility-scale capacity.

 

Key Points

A utility-scale BESS in France that stores renewable energy to stabilize the grid, boost flexibility, and cut emissions.

✅ Several hundred MW utility-scale capacity for peak shaving.

✅ Fast-response frequency regulation and voltage support.

✅ Reduces fossil peaker use and renewable curtailment.

 

In a significant leap toward enhancing France’s renewable energy infrastructure, TagEnergy has officially launched the country's largest battery storage platform. This cutting-edge project is set to revolutionize the way France manages its electricity grid by providing much-needed flexibility, stability, and resilience, particularly as the country ramps up its use of renewable energy sources and experiences negative prices in France during periods of oversupply,

The new battery storage platform, with a total capacity of several hundred megawatts, will play a crucial role in facilitating the country's transition to a greener, more sustainable energy future. It marks a significant step forward in addressing one of the most pressing challenges of renewable energy: how to store and dispatch power generated from intermittent sources such as wind and solar energy.

The Role of Battery Storage in Renewable Energy

Battery storage systems are key to unlocking the full potential of renewable energy sources. While wind and solar power are increasingly important in reducing reliance on fossil fuels, their intermittent nature—dependent on weather conditions and time of day—presents a challenge for grid operators. Without an efficient way to store surplus energy produced during peak generation periods, when negative electricity prices can emerge, the grid can become unstable, leading to waste or even blackouts.

This is where TagEnergy’s new platform comes into play. The state-of-the-art battery storage system will capture excess energy when production is high, and then release it back into the grid during periods of high demand, supporting peak demand strategies or when renewable generation dips. This capability will smooth out the fluctuations in renewable energy production and ensure a constant, reliable supply of power to consumers. By doing so, the platform will not only stabilize the grid but also increase the overall efficiency and utilization of renewable energy sources.

The Scale and Scope of the Platform

TagEnergy's battery storage platform is one of the largest in France, with a capacity capable of supporting a wide range of energy storage needs across the country. The platform’s size is designed to handle significant energy loads, making it a critical piece of infrastructure for grid stability. The project will primarily focus on large-scale energy storage, but it will also incorporate cutting-edge technologies to ensure fast response times and high efficiency in energy release.

France’s energy mix is undergoing a transformation as the country aims to achieve carbon neutrality by 2050. With ambitious plans to expand renewable energy production, particularly from offshore wind such as North Sea wind potential, solar, and hydropower, energy storage becomes essential for managing supply and demand. The new battery platform is poised to provide the necessary storage capabilities to keep up with this shift toward greener, more sustainable energy production.

Economic and Environmental Impact

The launch of the battery storage platform is a major boon for the French economy, creating jobs and attracting investment in the clean energy sector. The project is expected to generate hundreds of construction and operational jobs, providing a boost to local economies, particularly in the areas where the storage facilities are located.

From an environmental perspective, the platform’s ability to store and release renewable energy will greatly reduce the country’s reliance on fossil fuels, decreasing greenhouse gas emissions. The efficient storage of solar and wind energy will mean that more clean electricity can be used, with solar-plus-storage cheaper than conventional power in Germany underscoring cost competitiveness, even during times when these renewable sources are not producing at full capacity. This will help France meet its energy and climate goals, including reducing carbon emissions by 40% by 2030 and achieving carbon neutrality by 2050.

The development also aligns with broader European Union goals to increase the share of renewables in the energy mix. As EU nations work toward their collective climate commitments, energy storage projects like TagEnergy’s platform will be vital in helping the continent achieve a greener, more sustainable future.

A Step Toward Energy Independence

The new battery storage platform also has the potential to enhance France’s energy independence. By increasing the storage capacity for renewable energy, France will be able to rely less on imported fossil fuels and energy from neighboring countries, particularly during periods of high demand. Energy independence is a key strategic goal for many nations, as it reduces vulnerability to geopolitical tensions and fluctuating energy prices.

In addition to bolstering national security, the platform supports France’s energy transition by facilitating the deployment of more renewable energy. As storage capacity increases, grid operators will be able to integrate larger quantities of intermittent renewable energy without sacrificing reliability. This will enable France to meet its long-term energy goals while also supporting the EU’s ambitious climate targets.

Future of Battery Storage in France and Beyond

TagEnergy’s launch of France’s largest battery storage platform is a monumental achievement in the country’s energy transition. However, it is unlikely to be the last of its kind. The success of this project could pave the way for similar initiatives across France and the wider European market. As battery storage technology advances, and affordable solar batteries scale up, the capacity for storing and utilizing renewable energy will only grow, unlocking new possibilities for clean, affordable power.

Looking ahead, TagEnergy plans to expand its operations and further invest in renewable energy solutions. The French market, along with growing demand for storage solutions across Europe, presents significant opportunities for further development in the energy storage sector. With the continued integration of renewable energy into the grid, large-scale storage platforms will play an increasingly critical role in shaping a low-carbon future.

The launch of TagEnergy’s battery storage platform marks a pivotal moment for France’s renewable energy landscape. By providing critical storage capacity and ensuring the reliable delivery of clean electricity, the platform will help the country meet its ambitious climate and energy goals. As technology advances and the global transition to renewables accelerates, with over 30% of global electricity now coming from renewables, projects like this one will play an essential role in creating a sustainable, low-carbon energy future.

 

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Manitoba's electrical demand could double in next 20 years: report

Manitoba Hydro Integrated Resource Plan outlines electrification-driven demand growth, clean electricity needs, wind generation, energy efficiency, hydropower strengths, and net-zero policy impacts, guiding investments to expand capacity and decarbonize Manitoba's grid.

 

Key Points

Manitoba Hydro IRP forecasting 2.5x demand, clean power needs, and capacity additions via wind and energy efficiency.

✅ Projects electricity demand could more than double within 20 years.

✅ Leverages 97% hydro supply; adds wind generation and efficiency.

✅ Positions for net-zero, electrification, and new capacity by the 2030s.

 

Electrical demand in Manitoba could more than double in the next 20 years, a trend echoed by BC Hydro's call for power in response to electrification, according to a new report from Manitoba Hydro.

On Tuesday, the Crown corporation released its first-ever Integrated Resource Plan (IRP), which not only predicts a significant increase in electrical demand, but also that new sources of energy, and a potential need for new power generation, could be needed in the next decade.

“Right now, what [our customers] are telling us, with the climate change objectives, with federal policy, provincial policies, is they see using electricity much more in the future than they do today,” said president and CEO of Manitoba Hydro Jay Grewal.

“And our current, where we’re at now, our customers have told us through all this consultation and engagement over the last two years, they’re going to want and need more than 2.5 times the electricity than we have in the province today.”

The IRP indicates that the move towards low or no-carbon energy sources will accelerate the need for clean electricity, which will require significant investments, including new turbine investments to expand capacity. Some of the clean energy measures Hydro is looking at for the future include wind generation and energy efficiency.

The report also found that Manitoba is in a good position as it prepares for the future due to its hydroelectric system, which delivers around 97 per cent of the yearly electricity. However, the province’s existing supply is limited, and vulnerable to Western Canada drought impacts on hydropower, so other electrical energy sources will be needed.

“Something Manitobans may not realize is, we are in such a privileged province, because 97 per cent of the electricity produced in Manitoba today is clean energy and net zero,” Grewal said.

Manitoba also supplies power to neighbouring utilities, with a SaskPower purchase agreement to buy more electricity under an expanded deal.

The IRP is the result of a two-year development process that involved multiple rounds of engagement with customers and other interested parties. The IRP is not a development plan, but it arrives as Hydro warns it can't service new energy-intensive customers under current capacity, and it outlines how Manitoba Hydro will monitor, prepare and respond to the changes in the energy landscape.

“We spoke with over 15,000 of our customers, whether they’re residential, commercial, industrial, industry associations, regulators, government – across the board, we talked with our customers,” said Grewal.

“And what we did was through this work, we understood what our customers are anticipating using electricity for going forward.

 

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Tesla CEO Elon Musk slams Texas energy agency as unreliable: "not earning that R"

ERCOT Texas Power Grid Crisis disrupts millions amid a winter storm, with rolling blackouts, power outages, and energy demand; Elon Musk criticizes ERCOT as Tesla owners use Camp Mode while wind turbines face icing

 

Key Points

A Texas blackout during a winter storm, exposing ERCOT failures, rolling blackouts, and urgent grid resilience measures.

✅ Millions without power amid record cold and energy demand

✅ Elon Musk criticizes ERCOT over grid reliability failures

✅ Tesla Camp Mode aids warmth during extended outages

 

Tesla CEO Elon Musk on Wednesday slammed the Texas agency responsible for a statewide blackout amid a U.S. grid with frequent outages that has left millions of people to fend for themselves in a freezing cold winter storm.

Musk tweeted that Texas’ power grid manager, the Electricity Reliability Council of Texas (ERCOT), is not earning the “R” in the acronym, highlighting broader grid vulnerabilities that critics have noted.

Musk moved to Texas from California in December and is building a new Tesla factory in Austin. His critique of the state’s electrical grid operator came after multiple Tesla owners in the state said they had slept in their vehicles to keep warm amid the lingering power outage.

In 2019, Tesla released a vehicle with a “Camp Mode,” which enables owners to use the vehicle’s features – like lights and climate control – without significantly depleting the battery.

“We had the power go out for 6 hours last night. Our house does not have gas, and we ran out of firewood... what are we going to do,” one Reddit user wrote on “r/TeslaMotors.”

“So my wife my dog and my newborn daughter slept in the garage in our Model3 all nice and cozy. If I didn't have this car, it would have been a very rough night.”

More than two dozen people have died in the extreme weather this week, some while struggling to find warmth inside their homes. In the Houston area, one family succumbed to carbon monoxide from car exhaust in their garage. Another perished as they used a fireplace to keep warm.

Utilities from Minnesota to Texas and Mississippi have implemented rolling blackouts to ease the burden on power grids straining to meet extreme demand for heat and electricity, as longer, more frequent outages hit systems nationwide.

More than 3 million customers remained without power in Texas, Louisiana and Mississippi, more than 200,000 more in four Appalachian states, and nearly that many in the Pacific Northwest, according to poweroutage.us, which tracks utility outage reports, and advocates warn that millions could face summer shut-offs without protections.

ERCOT said early Wednesday that electricity had been restored to 600,000 homes and businesses by Tuesday night, though nearly 3 million homes and businesses remained without power, as California turns to batteries to help balance demand. Officials did not know when power would be restored.

ERCOT President Bill Magness said he hoped many customers would see at least partial service restored soon but could not say definitively when that would be.

Magness has defended ERCOT’s decision, saying it prevented an “even more catastrophic than the terrible events we've seen this week."

Utility crews raced Wednesday to restore power to nearly 3.4 million customers around the U.S. who were still without electricity in the aftermath of a deadly winter storm, even as officials urge residents to prepare for summer blackouts that could tax systems further, and another blast of ice and snow threatened to sow more chaos.

The latest storm front was expected to bring more hardship to states that are unaccustomed to such frigid weather — parts of Texas, Arkansas and the Lower Mississippi Valley — before moving into the Northeast on Thursday.

"There's really no letup to some of the misery people are feeling across that area," said Bob Oravec, lead forecaster with the National Weather Service, referring to Texas.

Sweden, known for its brutally cold climate, has offered some advice to Texans unaccustomed to such freezing temperatures, as Canadian grids are increasingly exposed to harsh weather that strains reliability. Stefan Skarp of the Swedish power company told Bloomberg on Tuesday: “The problem with sub-zero temperatures and humid air is that ice will form on the wind turbines.”

“When ice freezes on to the wings, the aerodynamic changes for the worse so that wings catch less and less wind until they don't catch any wind at all,” he said.

 

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