Canada, Germany to work together on clean energy


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Clean Energy Transition spans hydrogen strategies, offshore wind and undersea cables, decarbonization pledges, and net-zero targets, including green vs blue hydrogen, carbon capture, sustainable aviation fuel, forest conservation, and wetland protection in Canadian policy.

 

Key Points

A shift to low-carbon systems via hydrogen, renewables, net-zero policies, carbon capture, and conservation.

✅ Hydrogen pathways: green vs blue with carbon capture

✅ Grid expansion: offshore wind and undersea cables in Japan

✅ Policy and corporate moves: net-zero, SAF, forests, wetlands

 

The Canadian federal government is set to sign a new agreement with Germany to strategize on a “clean-energy transition,” with clean hydrogen in Canada expected to be a key player the Globe and Mail reports.

“Germany is probably the world’s most interesting market for hydrogen right now, and Canada is potentially a very big power in its production,” Sabine Sparwasser, Germany’s ambassador to Canada, said in an interview.

However, some friction is expected as Natural Resources Minister Seamus O’Regan has been endorsing “blue” hydrogen, while Germany has been more interested in “green” hydrogen. The former hydrogen is produced from natural gas or other fossil fuels, while simultaneously “using carbon-capture technology to minimize emissions from the process.” In contrast, “green” hydrogen, is manufactured from non-fossil fuel sources, and cleaning up Canada's electricity is critical to meeting climate pledges.

“How the focus on blue hydrogen will be aligned with Canada’s goal of reaching climate neutrality by 2050 is not spelled out in detail,” says an executive summary of the report by the Berlin-based think tank and consultancy Adelphi. “As a result, the strategy seems to be more of a vision for the future of those provinces with large fossil fuel resources.”

According to an IEA report Canada will need more electricity to hit net-zero, underscoring the strategy questions.

 

Internationally

Japan is in talks to develop undersea cables that would bring offshore wind energy to Tokyo and the Kansai region, as the country hopes to more than quadrable its wind capacity from 10 gigawatts in 2030 to 45 gigawatts in 2040. The construction of the cables would cost about US$9.2 billion.

In Western Canada, bridging the electricity gap between Alberta and B.C. makes similar climate sense, proponents argue.

Approximately 80 per cent of that offshore power is expected to be built in Hokkaido, Tohoku, and Kyushu regions. The project is part of the country’s pledge to achieve decarbonization by 2050, according to BNN Bloomberg.

Meanwhile, Russia is falling behind in the world’s transition to clean energy.

“What’s the alternative? Russia can’t be an exporter of clean energy, that path isn’t open for us,” says Konstantin Simonov, director of the National Energy Security Fund, a Moscow consultancy whose clients include major oil and gas companies. “We can’t just swap fossil fuel production for clean energy production, because we don’t have any technology of our own.” Ultimately, natural gas will always be cheaper than renewable energy in Russia, Simonov added. This story also from BNN Bloomberg.

Finally, New Zealand’s Tilt Renewables Ltd., an electricity company, has announced it would be acquired by Powering Australian Renewables (PowAR) for NZ$2.94 billion (US$2.10 billion). PowAR is Australia’s largest owner of wind and solar energy, and the deal will give the energy giant access to Tilt’s 20 wind farms. Reuters has the story.

 

In Canada  

Air Canada has unveiled plans to fight climate change. Specifically, the airlines giant has committed to reducing greenhouse gases (GHG) by 20 per cent from flights by 2030, investing $50 million in sustainable aviation fuel (SAF), and ensuring net-zero emissions by 2050.

In other news, B.C. is facing mounting pressure to abstain from logging “old growth forests” while the government transitions to more sustainable forestry policies. A report titled A New Future for Old Forests called on the provincial government to act within six months to protect such forests in April 2020.

The province's Site C mega dam is billions over budget but will go ahead, the premier said, highlighting the energy sector's complexity.

Last September, the province announced, “it would temporarily defer old growth harvesting in close to 353,000 hectares in nine different areas.” The B.C. government will hold consultations with First Nations and other forestry stakeholders “to determine the next areas where harvesting may be deferred,” according to Forests Minister Katrine Conroy. The Canadian Press has more.

Separately, LNG powered with electricity could be a boon for B.C.'s independent power producers, analysts say.

Finally, Pickering Developments Inc. has come forward saying it will not “alter or remove the wetland” that was meant to house an Amazon facility, according to CBC News.

The announcement comes after CBC News’s previously reported that the Toronto and Region Conservation Authority (TRCA) was pressured to issue a construction permit to Pickering Developments Inc. by Doug Ford’s provincial government. However, on March 12, an official with Amazon Canada told CBC News that the company no longer wished to build a warehouse on the site.

“In light of a recent announcement that a new fulfilment centre will no longer be located on this property, this voluntary undertaking ensures that no work, legally authorized by that permit, will occur,” Pickering Development Inc. said in a statement provided to CBC Toronto.

 

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Spain Breaks Gas Link with Wind and Solar

Spain has broken its reliance on fossil gas as soaring wind and solar energy drive Europe’s lowest wholesale electricity prices, reducing emissions, stabilizing the grid, and advancing renewable power, energy independence, and clean transition goals across the EU.

 

How Has Spain Broken the Gas Link with Wind and Solar??

Spain has broken the link between gas and power prices by rapidly expanding wind and solar generation, which now supplies nearly half its electricity, cutting fossil fuel influence by 75% since 2019 and reducing power costs 32% below the EU average.

✅ Wind and solar cut fossil influence by 75% since 2019

✅ Power prices 32% below EU average in 2025

✅ Renewables meet nearly half of national electricity demand

 

Spain has emerged as one of Europe’s most affordable electricity markets, largely due to its rapid expansion of wind and solar power. By decoupling its wholesale electricity prices from volatile fossil gas and coal, Spain has achieved a 32 percent lower average wholesale price than the EU average in the first half of 2025. This remarkable shift marks a dramatic turnaround from 2019, when Spain had some of the highest power prices in Europe.

According to new data, the influence of fossil fuels on Spain’s electricity prices has fallen by 75 percent since 2019, mirroring how renewables have surpassed fossil fuels in Europe over the same period, dropping from 75 percent of hours tied to gas costs to just 19 percent in early 2025. “Spain has broken the ruinous link between power prices and volatile fossil fuels, something its European neighbours are desperate to do,” said Dr. Chris Rosslowe, Senior Energy Analyst at Ember.

The change is driven by a surge in renewable generation. Between 2019 and mid-2025, Spain added more than 40 gigawatts of new solar and wind capacity—second only to Germany, whose power market is twice the size. Wind and solar now meet nearly half (46 percent) of Spain’s electricity demand, compared with 27 percent six years ago. As a result, fossil generation has fallen to 20 percent of total demand, well below the levels seen in other major economies such as Germany (41 percent) and Italy (43 percent).

This renewable growth has also cut Spain’s dependence on imported fuels. In the past five years, new solar and wind plants have avoided 26 billion cubic metres of gas imports, saving €13.5 billion—five times the amount the country invested in transmission infrastructure over the same period. The Central Bank of Spain estimated that wholesale electricity prices would have been 40 percent higher in 2024 if renewables had not displaced fossil generation, and neighboring France has seen negative prices during periods of renewable surplus.

August 2025 marked a historic milestone: Spain recorded a full month without coal-fired generation for the first time. A decade earlier, coal accounted for a quarter of the nation’s electricity supply. Gas use has also declined steadily, from 26% of demand in 2019 to 19% this year.

However, the system still faces challenges. Following the April 28th Iberian blackout, Spain has relied more heavily on gas-fired plants to stabilize the grid. These services—such as voltage control and balancing—have proven to be expensive, with costs doubling since the blackout and accounting for 57 percent of the average electricity price in May 2025, up from 14 percent the previous year. Curtailment of renewables has also tripled, reaching 7.2 percent of generation between May and July.

Despite being Europe’s fourth-largest electricity market, Spain ranks only 13th in battery storage capacity, underscoring the need for further investment in clean flexibility solutions, such as grid-scale batteries to provide flexibility and stronger interconnections. Post-blackout reforms aim to address this weakness and ensure the gains from renewable integration are not lost.

“Spain risks sliding back into costly gas reliance amid post-blackout fears,” warned Rosslowe. “Boosting grids and batteries will help Spain break free from fossil dependency for good.”

With record-low electricity prices and one of the fastest decoupling rates in Europe, Spain’s experience demonstrates how large-scale wind and solar adoption can reshape energy economics—and offers a roadmap for other nations seeking to escape the volatility of fossil fuels.

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Biden's interior dept. acts quickly on Vineyard Wind

Vineyard Wind I advances as BOEM issues a final environmental impact statement for the 800 MW offshore wind farm south of Martha's Vineyard, delivering clean energy, jobs, and carbon reductions to Massachusetts toward net-zero.

 

Key Points

An 800 MW offshore wind project near Martha's Vineyard supplying clean power to Massachusetts.

✅ 800 MW capacity; power for 400,000+ homes and businesses

✅ BOEM final EIS; record of decision pending within 30+ days

✅ 1.68M metric tons CO2 avoided annually; jobs and lower rates

 

Federal environmental officials have completed their review of the Vineyard Wind I offshore wind farm, moving the project that is expected to deliver clean renewable energy to Massachusetts by the end of 2023 closer to becoming a reality.

The U.S. Department of the Interior said Monday morning that its Bureau of Ocean Energy Management completed the analysis it resumed about a month ago, published the project's final environmental impact statement, and said it will officially publish notice of the impact statement in the Federal Register later this week.

"More than three years of federal review and public comment is nearing its conclusion and 2021 is poised to be a momentous year for our project and the broader offshore wind industry," Vineyard Wind CEO Lars Pedersen said. "Offshore wind is a historic opportunity to build a new industry that will lead to the creation of thousands of jobs, reduce electricity rates for consumers and contribute significantly to limiting the impacts of climate change. We look forward to reaching the final step in the federal permitting process and being able to launch an industry that has such tremendous potential for economic development in communities up and down the Eastern seaboard."

The 800-megawatt wind farm planned for 15 miles south of Martha's Vineyard was the first offshore wind project selected by Massachusetts utility companies with input from the Baker administration to fulfill part of a 2016 clean energy law. It is projected to generate cleaner electricity for more than 400,000 homes and businesses in Massachusetts, produce at least 3,600 jobs, reduce costs for Massachusetts ratepayers by an estimated $1.4 billion, and eliminate 1.68 million metric tons of carbon dioxide emissions annually.

Offshore wind power, informed by the U.S. offshore wind outlook, is expected to become an increasingly significant part of Massachusetts' energy mix. The governor and Legislature agree on a goal of net-zero carbon emissions by 2050, but getting there is projected to require having about 25 gigawatts of offshore wind power. That means Massachusetts will need to hit a pace in the 2030s where it has about 1 GW of new offshore wind power on the grid coming online each year.

"I think that's why today's announcement is so historic, because it does represent that culmination of work to understand how to permit and build a cost-effective and environmentally-responsible wind farm that can deliver clean energy to Massachusetts ratepayers, but also just how to do this from start to finish," said Energy and Environmental Affairs Secretary Kathleen Theoharides. "As we move towards our goal of probably [25 GW] of offshore wind by 2050 to hit our net-zero target, this does give us confidence that we have a much clearer path in terms of permitting."

She added, "There's a huge pipeline, so getting this project out really should open the door to the many additional projects up and down the East Coast, such as Long Island proposals, that will come after it."

According to the American Wind Energy Association, there are expected to be 14 offshore projects totaling 9,112 MW of capacity in operation by 2026.

Susannah Hatch, the clean energy coalition director for the Environmental League of Massachusetts and a leader of the broad-based New England for Offshore Wind Regional group, called offshore wind farms like Vineyard Wind "the linchpin of our decarbonization efforts in New England." She said the Biden administration's quick action on Vineyard Wind is a positive sign for the burgeoning sector.

"Moving swiftly on responsibly developed offshore wind is critical to our efforts to mitigate climate change, and offshore wind also provides an enormous opportunity to grow the economy, create thousands of jobs, and drive equitable economic benefits through increased minority economic participation in New England," Hatch said.

With the final environmental impact statement published, Vineyard Wind still must secure a record of decision from BOEM, which processes wind lease requests, an air permit from the Environmental Protection Agency and sign-offs from the U.S. Army Corps of Engineers and the National Marine Fisheries Service to officially clear the way for the project that is on track to be the nation's first utility-scale offshore wind farm. BOEM must wait at least 30 days from the publication of the final environmental impact statement to issue a record of decision.

Project officials have said they expect the final impact statement and then a record of decision "sometime in the first half of 2021." That would allow the project to hit its financial close milestone in the second half of this year, begin on-shore work quickly thereafter, start offshore construction in 2022, begin installing turbines in 2023 and begin exporting power to the grid, marking Vineyard Wind first power, by late 2023, Pedersen said in January.

"Offshore energy development provides an opportunity for us to work with Tribal nations, communities, and other ocean users to ensure all decisions are transparent and utilize the best available science," BOEM Director Amanda Lefton said.

The commercial fishing industry has been among the most vocal opponents of aspects of the Vineyard Wind project and the Responsible Offshore Development Alliance (RODA) has repeatedly urged the new administration to ensure the voices of the industry are heard throughout the licensing and permitting process.

In comments submitted earlier this month in response to a BOEM review of an offshore wind project that is expected to deliver power to New York, including the recent New York offshore wind approval, RODA said the present is "a time of significant confusion and change in the U.S. approach to offshore wind energy (OSW) planning" and detailed mitigation measures it wants to see incorporated into all projects.

"To be clear, none of these requests are new -- nor hardly radical. They have simply been ignored again, and again, and again in a political push/pull between multinational energy companies and the U.S. government, leaving world-famous seafood, and the communities founded around its harvest, off the table," the group said in a press release last week. Some of RODA's suggestions were analyzed as part of BOEM's Vineyard Wind review.

Vineyard Wind has certainly taken a circuitous path to get to this point. The timeline for the project was upended in August 2019 when the Trump administration decided to conduct a much broader assessment of potential offshore wind projects up and down the East Coast, which delayed the project by almost a year.

When the Trump administration delayed its action on a final environmental impact statement last year, Vineyard Wind on Dec. 1 announced that it was pulling its project out of the federal review pipeline in order to complete an internal study on whether the decision to use a certain type of turbine would warrant changes to construction and operations plan. The Trump administration declared the federal review of the project "terminated."

Within two weeks of President Joe Biden being inaugurated, Vineyard Wind said its review determined no changes were necessary and the company resubmitted its plans for review. BOEM agreed to pick up where the Trump administration had left off despite the agency previously declaring its review terminated.

"It would appear that fishing communities are the only ones screaming into a void while public resources are sold to the highest bidder, as BOEM has reversed its decision to terminate a project after receiving a single letter from Vineyard Wind," RODA said.

The final environmental impact statement that BOEM published Monday showed that the federal regulators believe the Vineyard Wind I development as proposed will have "moderate" impacts on commercial fisheries and for-hire recreational fishing outfits, and that the project combined with other factors not related to wind energy development will have "major" impacts on commercial and recreational fishing ventures.

Vineyard Wind pointed Monday to the fishery mitigation agreements it has entered into with Massachusetts and Rhode Island, a fishery science collaboration with the University of Massachusetts Dartmouth's School of Marine Science and Technology, and an agreement with leading environmental organizations around the protection of the endangered right whale.

Responding to concerns about safe navigation among RODA and others in the fishing sector, Vineyard Wind and the four other developers holding leases for offshore wind sites off New England agreed to orient their turbines in fixed east-to-west rows and north-to-south columns spaced one nautical mile apart. Last year, the U.S. Coast Guard concluded that the grid layout was the best way to maintain maritime safety and ease of navigation in the offshore wind development areas south of Martha's Vineyard and Nantucket.

Since a 2016 clean energy law kicked off the state's foray into the offshore wind world, Massachusetts utilities have contracted for a total of about 1,600 MW between two projects, Vineyard Wind I and Mayflower Wind.

A joint venture of Shell and Ocean Winds North America, Mayflower Wind was picked unanimously in 2019 by utility executives to build and operate a wind farm approximately 26 nautical miles south of Martha's Vineyard and 20 nautical miles south of Nantucket, with South Coast construction activity expected as the project progresses. The 804-megawatt project is expected to be operational by December 2025.

Massachusetts and its utilities are expected to go out to bid for up to another 1,600 MW of offshore wind generation capacity later this year using authorization granted by the Legislature in 2018.

The climate policy bill that Gov. Charlie Baker returned to the Legislature with amendments more than a month ago would require that the executive branch direct Massachusetts utilities to buy an additional 2,400 MW of offshore wind power.

 

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Europe's Green Surge: Renewables Soar, Emissions Plummet, but Challenges Remain

EU Renewable Energy Transition accelerates wind and solar growth, slashes fossil fuels and carbon emissions via the ETS, strengthens energy security with LNG diversification, and advances grid resilience toward 2030 climate targets.

 

Key Points

EU shift to wind, solar, and efficiency that cuts fossil fuels while boosting energy security and grid stability

✅ Fossil fuels at 29% of EU power in 2023, coal and gas down sharply

✅ Renewables hit 44% share; wind 18%, solar 9% and rising

✅ ETS, LNG diversification, and efficiency cut demand and emissions

 

Europe's energy landscape is undergoing a dramatic transformation, fueled by a surge in renewable energy and a corresponding decline in fossil fuel dependence. This shift, documented in both a report from the energy think tank Ember and the European Commission's State of the Energy Union report, paints a picture of progress, but also highlights the challenges that lie ahead on the path to a sustainable future.

 

Fossil Fuels Facing an Unprecedented Decline:

Fossil fuels dipped to their lowest point in recorded history, making up only 29% of EU electricity generation in 2023. This represents a significant 19% decrease in both fossil fuel generation and carbon emissions compared to 2022, exceeding even the reductions witnessed during the pandemic. Coal, the dirtiest fossil fuel, saw the steepest decline, dropping by 26%, while gas generation fell by 15%. This decline is attributed to a combination of factors, including:

Increased deployment of renewables: As renewable energy sources like wind and solar become more affordable and efficient, they are increasingly displacing fossil fuels in the energy mix.

Carbon pricing: The EU's Emissions Trading System (ETS) puts a price on carbon emissions, incentivizing generators to switch to cleaner sources of energy.

Geopolitical tensions: The war in Ukraine and subsequent sanctions on Russia have accelerated Europe's efforts to diversify its energy sources away from Russian fossil fuels across the bloc.


Renewables Ascending to New Heights:

Renewable energy is now the dominant force in the EU, as renewables surpassed fossil fuels in the power mix, contributing a record-breaking 44% of the electricity mix. Wind energy leads the charge, generating 18% of electricity – the equivalent of France's entire demand – and surpassing gas for the first time. Solar power also continues to grow, reaching a 9% share, as solar reshapes electricity prices in Northern Europe and hydropower recovered from its 2022 dry spell. This remarkable growth is driven by factors such as:

Favorable policy frameworks: The EU has set ambitious renewable energy targets and implemented supportive policies, including feed-in tariffs and auctions.

Technological advancements: Advancements in wind turbine and solar panel technologies have made them more efficient and cost-effective.
Public support: There is growing public support for renewable energy, driven by concerns about climate change and energy security.

Beyond generation, energy efficiency is playing a critical role in reducing overall energy demand. Electricity demand in the EU fell by 3.4% in 2023, thanks to factors such as improved building insulation and more efficient appliances.

 

EU on Track to Quit Russian Fossil Fuels:

The report underscores Europe's progress in reducing dependence on Russian fossil fuels. Imports of Russian gas have plummeted to 40-45 billion cubic metres, compared to a staggering 155 bcm in 2021. This represents a remarkable 70% reduction in just one year. This shift has been achieved through a combination of increased LNG imports, diversification of gas suppliers, and accelerated deployment of renewable energy sources.

Overall greenhouse gas emissions decreased by 3% in 2022, putting the EU on track to achieve its ambitious 55% reduction target by 2030. These achievements demonstrate the EU's commitment to climate action and its ability to respond decisively to geopolitical challenges.

 

Success, But Not Complacency:

Despite the positive developments, the Commission warns against complacency. Energy markets remain volatile, fossil fuel subsidies are rising in some countries, and critical infrastructure vulnerabilities persist, while some advocates call for a fossil fuel lockdown to accelerate the transition. The bloc needs to accelerate renewable energy expansion to reach the legally binding 42.5% target by 2030. Additionally, ensuring affordability and security of energy supply will be crucial to maintaining public support for the transition.

 

Challenges and Opportunities:

While some countries like Denmark, Finland, and the Netherlands fall short of EU climate and energy goals, others like Spain, Portugal, and Belgium showcase success with renewables. The Commission is taking action with a plan to support the wind industry, where investments in European wind continue, even as it faces challenges from high inflation and increasing competition from China. Additionally, ensuring timely updates to national energy and climate plans is crucial for achieving the EU's overall objectives.

 

NGOs Urge Faster Action:

NGOs like the Climate Action Network (CAN) express concern about the adequacy of national plans, highlighting the gap between ambition and concrete action. They urge member states to accelerate efforts to meet the 2030 targets and avoid a "lost decade" in climate action. CAN emphasizes the need for more ambitious national energy and climate plans, increased investment in renewables, and accelerated energy efficiency measures.

Europe's energy transition is progressing rapidly, with renewables taking center stage and emissions declining. However, significant challenges remain, necessitating continued commitment, national-level action, and a focus on affordability, security, and sustainability. As 2030 approaches, Europe's green surge must translate into concrete results to secure a climate-neutral future.

 

Looking ahead, several key areas will define the success of Europe's energy transition:

  • Accelerating renewable energy deployment: The EU needs to maintain its momentum in building wind, solar, and other renewable energy sources. This requires sustained clean energy investment, streamlined permitting processes, and addressing grid integration challenges.
  • Ensuring affordability and security of supply: The energy transition must be just and inclusive, ensuring that energy remains affordable for all citizens and businesses. Additionally, diversifying energy sources and enhancing grid resilience are crucial to guarantee energy security.
  • Enhancing energy efficiency: Reducing energy demand remains crucial to achieving climate goals and reducing reliance on fossil fuels. This requires continued investments in building energy efficiency, promoting energy-efficient appliances and technologies, and encouraging behavioral changes.
  • International cooperation: Climate change and energy security are global challenges. The EU must continue to lead by example as renewables exceed 30% globally and collaborate with other countries on technological advancements, policy innovations, and financial support for developing nations undergoing their own energy transitions.

Europe's green surge is a testament to its ambition and collective action. By addressing the remaining challenges and seizing the opportunities ahead, the EU can pave the way for a sustainable and secure energy future for itself and the world.

 

 

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Aboitiz receives another award for financing for its Tiwi and Makban geothermal plant

AP Renewables Inc. Climate Bond Award recognizes Asia-Pacific project finance, with ADB and CNBC citing the first Climate Bond, geothermal refinancing in local currency, and CGIF-backed credit enhancement for emerging markets.

 

Key Points

An award for APRI's certified Climate Bond, highlighting ADB-backed financing and geothermal assets across Asia-Pacific.

✅ First Climate Bond for a single project in an emerging market

✅ ADB credit enhancement and CGIF risk participation

✅ Refinanced Tiwi and MakBan geothermal assets via local currency

 

The Asian Development Bank (ADB) and CNBC report having given the Best Project For Corporate Finance Transaction award to a the renewable energy arm of Aboitiz Power, AP Renewables Inc. (APRI), for its innovative and impactful solutions to key development challenges.

In March 2016, APRI issued a local currency bond equivalent to $225 million to refinance sponsor equity in Tiwi and MakBan. ADB said it provided a partial credit enhancement for the bond as well as a direct loan of $37.7 million, a model also seen in EIB long-term financing for Indian solar projects.

The bond issuance was the first Climate Bond—certified by the Climate Bond Initiative—in Asia and the Pacific and the first ever Climate Bond for a single project in an emerging market.

“The project reflects APRI’s commitment to renewable energy, as outlined in the IRENA report on decarbonising energy in the region,” ADB said in a statement posted on its website.

The project also received the 2016 Bond Deal of the Year by the Project Finance International magazine of Thomson Reuters, Asia Pacific Bond Deal of the Year from IJGlobal and the Best Renewable Deal of the Year by Alpha Southeast Asia, reflecting momentum alongside large-scale energy projects in New York reported elsewhere.

ADB’s credit enhancement was risk-participated by the Credit Guarantee Investment Facility (CGIF), a multilateral facility established by Asean + 3 governments and ADB to develop bond markets in the region.

APRI is a subsidiary of AboitizPower, one of Philippines’ biggest geothermal energy producers, and the IRENA study on the Philippines' electricity crisis provides broader context as it owns and operates the Tiwi and Makiling Banahaw (MakBan) geothermal facilities, the seventh and fourth largest geothermal power stations in the world, respectively.

“The awards exemplify the ever-growing importance of the private sector in implementing development work in the region,” ADB’s Private Sector Operations Department Director General Michael Barrow said.

“Our partners in the private sector provide unique solutions to development challenges — from financing to technical expertise — and today’s winners are perfect examples of that,” he added.

The awarding ceremony took place in Yokohama, Japan during an event co-hosted by CNBC and ADB at the 50th Annual Meeting of ADB’s Board of Governors.

The awards focus on highly developmental transactions and underline the important work ADB clients undertake in developing countries in Asia and the Pacific.

 

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Will EV Supply Miss the Demand Mark in the Short and Medium Term?

EV Carpocalypse signals potential mismatch between electric vehicle production and demand, as charging infrastructure, utility coordination, and plug-in hybrid strategies lag forecasts, while state mandates and market-share plays drive cautious, data-informed scaling.

 

Key Points

EV Carpocalypse describes overbuilt EV supply versus demand amid charging rollout, mandates, and risk-managed scaling.

✅ Forecasts vs actual EV demand may diverge in near term

✅ Charging infrastructure and utilities lag vehicle output

✅ Mandates and PHEVs cushion adoption while data guides scaling

 

According to Forbes contributor David Kiley, and Wards Automotive columnist John McElroy, there may be an impending “carpocalypse” of electric vehicles on the way. Sounds very damning and it’s certainly not the upbeat tone I’ve taken on nearly every piece of EV demand content I’ve authored but the author, Kiley does bring up some interesting points worth considering. EV Adoption is happening, and it’s certainly doing so at ever faster rates as the market nears an EV inflection point today. The infrastructure (charging stations, utility cooperation) is being built out more slowly than vehicle manufacturers are producing cars but, as the GM president on EV hurdles has noted, the issue seems to be just that, maybe even the short and medium term plans for EV manufacturing are too aggressive.

#google#

With new EV and plug-in hybrid vehicle sales representing a mere .6% of new car cales in the US, a sign that EV sales remain behind gas cars even as new models proliferate, car makers are are going to be spending more than $100 billion to come out with more than a hundred models of battery electric vheicles which also includes PHEVs and the fear is these vehicles aren’t going to sell in the numbers that automakers and industry analysts may have expected. But forecasts are just that, forecasts, even as U.S. EV sales surge into 2024 suggest momentum. So there’s a valid argument to be made that they’ll either overshoot the true mark or come in way below the actual amount. With nine U.S. states mandating that 15% of new cars sold be EVs by 2025, you could say that at least automakers have supporters in state government helping to push the new technology into the hands of more drivers.

Still, it’s anyone’s guess as to what true adoption will be, and a brief Q1 2024 market share dip underscores lingering volatility. The use of big data and just in time manufacturing will ensure that manufacturers will miss the mark on EVs by less than they have in the past, and will able to cope with breaking even on these vehicles for the sake of gobbling up precious early stage market share. After all, many vendors have up to this point been very willing to break even or make a loss on their lease-only EVs or on EV or hybrid financing in order to gain that share and build out their brand awareness and technical prowess. With some stops and starts, demand will meet supply or supply may need to meet demand but either way, the EV adoption wave is coming to a driveway near you. 

 

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Wind is main source of UK electricity for first time

UK Renewable Energy Milestones: wind outpacing gas, record solar output, offshore wind growth, National Grid data, and a net-zero grid by 2035, despite planning reforms, connection queues, and grid capacity constraints.

 

Key Points

Key UK advances where wind beat gas, solar set records, and policies target a 2035 net-zero electricity grid.

✅ Wind generated one-third of electricity, outpacing gas

✅ Record solar output reported by National Grid in April

✅ Onshore wind easing via planning reforms; grid delays persist

 

In the first three months of this year a third of the country's electricity came from wind farms, with the UK leading the G20 for wind power according to research from Imperial College London has shown.

National Grid has also confirmed that April saw a record period of solar energy generation, and wind generation set new records earlier in the year.

By 2035 the UK aims for all of its electricity to have net zero emissions, though progress stalled in 2019 in some areas.

"There are still many hurdles to reaching a completely fossil fuel-free grid, but wind out-supplying gas for the first time, a sign of wind leading the power mix, is a genuine milestone event," said Iain Staffell, energy researcher at Imperial College and lead author of the report.

The research was commissioned by Drax Electrical Insights, which is funded by Drax energy company.

The majority of the UK's wind power has come from offshore wind farms, and wind generated more electricity than coal in 2016 marking an early shift. Installing new onshore wind turbines has effectively been banned since 2015 in England.

Under current planning rules, companies can only apply to build onshore wind turbines on land specifically identified for development in the land-use plans drawn up by local councils. Prime Minister Rishi Sunak agreed in December to relax these planning restrictions to speed up development.

Scientists say switching to renewable power is crucial to curb the impacts of climate change, with milestones like wind and solar topping nuclear underscoring the shift, which are already being felt, including in the UK, which last year recorded its hottest year since records began.

Solar and wind have seen significant growth in the UK. In the first quarter of 2023, 42% of the UK's electricity came from renewable energy, with 33% coming from fossil fuels like gas and record-low coal shares.

Some new solar and wind sites are waiting up to 10 to 15 years to be connected because of a lack of capacity in the electricity system.

And electricity only accounts for 18% of the UK's total power needs. There are many demands for energy which electricity is not meeting, such as heating our homes, manufacturing and transport.

Currently the majority of UK homes use gas for their heating - the government is seeking to move households away from gas boilers and on to heat pumps which use electricity.

 

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