Six companies' allocations questioned

Pinghai Bay Offshore Wind Farm MWS advances marine warranty survey best practices, risk management, and international standards in Fujian, with Haixia Goldenbridge Insurance and reinsurer-aligned audits supporting safer offshore wind construction and logistics.

Key Points

An MWS program ensuring Pinghai Bay Phase 2 meets standards via audits, risk controls, and vetted procedures.

✅ First MWS delivered in China's offshore wind market

✅ Audits, risk consultancy, and reinsurer-aligned standards

✅ Supports 250MW Phase 2 at Pinghai Bay, Fujian

LOC Renewables has announced it is to carry out marine warranty survey (MWS) services for the second phase of the Pinghai Bay Offshore Wind Farm near Putian, Fujian province, China, on behalf of Haixia Goldenbridge Insurance Co., Ltd. The agreement represents the first time MWS services have been delivered to the Chinese offshore wind market.

China’s installed offshore capacity jumped more than 60% in 2017, and its growing offshore market is aiming for a total grid-connected capacity of 5GW by 2020, as the sector globally advances toward a $1 trillion industry over the coming decades. Much of this future offshore development is slated to take place in Jiangsu, Zhejiang, Guangdong and Fujian provinces. As developers becoming increasingly aware of the need for stringent risk management and value that internationally accepted standards can bring to projects, Pinghai Bay will be the first Chinese offshore wind farm to employ MWS to ensure it meets the highest technical standards and minimise project risk. The agreement will see LOC Renewables carry out audit and risk consultancy services for the project from March until the end of 2018.

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In recent years, as Chinese offshore wind projects have grown in scale and complexity the need for international expertise in the market has increased, with World Bank support for emerging markets underscoring global momentum. In response, domestic insurers are partnering with international reinsurers to manage and mitigate the associated larger risks. Applying the higher standards required by international reinsurers, LOC Renewables will draw on its extensive experience in European, US and Asian offshore wind markets to provide MWS services on the Pinghai project from its Tianjin office.

“As offshore wind technology continues to proliferate across Asia, driven by declining global costs, successful knowledge transfer based on best practices and lessons learned in the established offshore wind markets becomes ever more important,” said Ke Wan, Managing Director, LOC China.

“With a wealth of experience in Europe and the US, where UK offshore wind growth has accelerated, we’re increasingly working on projects across Asia, and are delighted to now be providing the first MWS services to China’s offshore wind market – services that bring real value in lower risk and will enable the project to achieve its full potential.”

“At 250MW, phase two of the Pinghai Bay Wind Farm represents a significant expansion on phase one, and we wanted to ensure that it met the highest technical and risk mitigation standards, informed by regional learnings such as Korean installation vessels analyses,” said Fan Ming, Business Director at Haixia Goldenbridge Insurance.

“In addition to their global experience, LOC Renewables’ familiarity with and presence in the local market was very important to us, and we’re looking forward to working closely with them to help bring this project to fruition and make a significant contribution to China’s expanding offshore wind market.”

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Ukraine Power Grid Attacks disrupt critical infrastructure as missiles and drones strike power plants, substations, and lines, causing blackouts. Emergency repairs, international aid, generators, and renewables bolster resilience and keep hospitals and water running.

Key Points

Russian strikes on Ukraine's power infrastructure cause blackouts; repairs and aid sustain hospitals and water.

✅ Missile and drone strikes target plants, substations, and lines.

✅ Crews restore power under fire; air defenses protect sites.

✅ Allies supply equipment, generators, and grid repair expertise.

Ukraine is facing an ongoing battle to maintain its electrical grid in the wake of relentless Russian attacks targeting power plants and energy infrastructure. These attacks, which have intensified in the last year, are part of Russia's broader strategy to weaken Ukraine's ability to function amid the ongoing war. Power plants, substations, and energy lines have become prime targets, with Russian forces using missiles and drones to destroy critical infrastructure, as western Ukraine power outages have shown, leaving millions of Ukrainians without electricity and heating during harsh winters.

The Ukrainian government and energy companies are working tirelessly to repair the damage and prevent total blackouts, while also trying to ensure that civilians have access to vital services like hospitals and water supplies. Ukraine has received support from international allies in the form of technical assistance and equipment to help strengthen its power grid, and electricity reserve updates suggest outages can be avoided if no new strikes occur. However, the ongoing nature of the attacks and the complexity of repairing such extensive damage make the situation extraordinarily difficult.

Despite these challenges, Ukraine's resilience is evident, even as winter pressures on the battlefront intensify operations. Energy workers are often working under dangerous conditions, risking their lives to restore power and prevent further devastation. The Ukrainian government has prioritized the protection of energy infrastructure, with military forces being deployed to safeguard workers and critical assets.

Meanwhile, the international community continues to support Ukraine through financial and technical aid, though some U.S. support programs have ended recently, as well as providing temporary power solutions, like generators, to keep essential services running. Some countries have even sent specialized equipment to help repair damaged power lines and energy plants more quickly.

The humanitarian consequences of these attacks are severe, as access to electricity means more than just light—it's crucial for heating, cooking, and powering medical equipment. With winter temperatures often dropping below freezing, plans to keep the lights on are vital to protect vulnerable communities, and the lack of reliable energy has put many lives at risk.

In response to the ongoing crisis, Ukraine has also focused on enhancing its energy independence, seeking alternatives to Russian-supplied energy. This includes exploring renewable energy sources, such as solar and wind power, and new energy solutions adopted by communities to overcome winter blackouts, which could help reduce reliance on traditional energy grids and provide more resilient options in the future.

The battle for energy infrastructure in Ukraine illustrates the broader struggle of the country to maintain its sovereignty and independence in the face of external aggression. The destruction of power plants is not only a military tactic but also a psychological one—meant to instill fear and disrupt daily life. However, the unwavering spirit of the Ukrainian people, alongside international support, including Ukraine's aid to Spain during blackouts as one example, continues to ensure that the fight to "keep the lights on" is far from over.

As Ukraine works tirelessly to repair its energy grid, it also faces the challenge of preparing for the long-term impact of these attacks. The ongoing war has highlighted the importance of securing energy infrastructure in modern conflicts, and the world is watching as Ukraine's resilience in this area could serve as a model for other nations facing similar threats.

Ukraine’s energy struggle is far from over, but its determination to keep the lights on remains a beacon of hope and defiance in the face of ongoing adversity.

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Germany Industrial Electricity Price Subsidy weighs subsidies for energy-intensive industries to bolster competitiveness as Germany shifts to renewables, expands grid capacity, and debates free-market tax cuts versus targeted relief and long-term policies.

Key Points

Policy to subsidize power for energy-intensive industry, preserving competitiveness during the energy transition.

✅ SPD backs 5-7 cents per kWh for 10-15 years

✅ FDP prefers tax cuts and free-market pricing

✅ Scholz urges cheap renewables and grid expansion first

Germany’s three-party coalition is debating whether electricity prices for energy-intensive industries should be subsidised in a market where rolling back European electricity prices can be tougher than it appears, to prevent companies from moving production abroad.

Calls to reduce the electricity bill for big industrial producers are being made by leading politicians, who, like others in Germany, fear the country could lose its position as an industrial powerhouse as it gradually shifts away from fossil fuel-based production, amid historic low energy demand and economic stagnation concerns.

“It is in the interest of all of us that this strong industry, which we undoubtedly have in Germany, is preserved,” Lars Klingbeil, head of Germany’s leading government party SPD (S&D), told Bayrischer Rundfunk on Wednesday.

To achieve this, Klingbeil is advocating a reduced electricity price for the industry of about 5 to 7 cents per Kilowatt hour, which the federal government would subsidise. This should be introduced within the next year and last for about 10 to 15 years, he said.

Under the current support scheme, which was financed as part of the €200 billion “rescue shield” against the energy crisis, energy-intensive industries already pay 13 cents per Kilowatt hour (KWh) for 70% of their previous electricity needs, which is substantially lower than the 30 to 40 cents per KWh that private consumers pay.

“We see that the Americans, for example, are spending $450 billion on the Inflation Reduction Act, and we see what China is doing in terms of economic policy,” Klingbeil said.

“If we find out in 10 years that we have let all the large industrial companies slip away because the investments are not being made here in Germany or Europe, and jobs and prosperity and growth are being lost here, then we will lose as a country,” he added.

However, not everyone in the German coalition favours subsidising electricity prices.

Finance Minister Christian Lindner of the liberal FDP (Renew), for example, has argued against such a step, instead promoting free-market principles and, amid rising household energy costs, reducing taxes on electricity for all.

“Privileging industrial companies would only be feasible at the expense of other electricity consumers and taxpayers, for example, private households or the small trade sector,” Lindner wrote in an op-ed for Handelsblatt on Tuesday.

“Increasing competitiveness for some would mean a loss of competitiveness for others,” he added.

Chancellor Olaf Scholz, himself a member of SPD, was more careful with his words, amid ongoing EU electricity reform debates in Brussels.

Asked about a subsidised electricity price for the industry at a town hall event on Monday, Scholz said he does not “want to make any promises now”.

“First of all, we have to make sure that we have cheap electricity in Germany in the first place,” Scholz said, promoting the expansion of renewable energy such as wind and solar, as local utilities cry for help, as well as more electricity grid infrastructure.

“What we will not be able to do as an economy, even as France’s new electricity pricing scheme advances, is to subsidise everything that takes place in normal economic activity,” Scholz said. “We should not get into the habit of doing that,” he added.

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HVDC-WISE Project accelerates HVDC technology integration across the European transmission system, delivering a planning toolkit to boost grid reliability, resilience, and interconnectors for renewables and offshore wind amid climate, cyber, and physical threats.

Key Points

EU-funded project delivering tools to integrate HVDC into Europe's grid, improving reliability, resilience, and security.

✅ EU Horizon Europe-backed consortium of 14 partners

✅ Toolkit to assess extreme events and grid operability

✅ Supports interconnectors, offshore wind, and renewables

A partnership of 14 leading European energy industry companies, research organizations and universities has launched a new project to identify opportunities to increase integration of HVDC technology into the European transmission system, echoing calls to invest in smarter electricity infrastructure from abroad.

The HVDC-WISE project, in which the University of Strathclyde is the UK’s only academic partner, is supported by the European Union’s Horizon Europe programme.

The project’s goal is to develop a toolkit for grid developers to evaluate the grid’s performance under extreme conditions and to plan systems, leveraging a digital grid approach that supports coordination to realise the full range of potential benefits from deep integration of HVDC technology into the European transmission system.

The project is focused on enhancing electric grid reliability and resilience while navigating the energy transition. Building and maintaining network infrastructure to move power across Europe is an urgent and complex task, and reducing losses with superconducting cables can play a role, particularly with the continuing growth of wind and solar generation. At the same time, threats to the integrity of the power system are on the rise from multiple sources, including climate, cyber, and physical hazards.

Mutual support

At a time of increasing worries about energy security and as Europe’s electricity systems decarbonise, connections between them to provide mutual support and routes to market for energy from renewables, a dynamic also highlighted in discussions of the western Canadian electricity grid in North America, become ever more important.

In modern power systems, this means making use of High Voltage Direct Current (HVDC) technology.

The earliest forms of technology have been around since the 1960s, but the impact of increasing reliance on HVDC and its ability to enhance a power system’s operability and resilience are not yet fully understood.

Professor Keith Bell, Scottish Power Professor of Future Power Systems at the University of Strathclyde, said:

As an island, HVDC is the only practical way for us to build connections to other countries’ electricity systems. We’re also making use of it within our system, with one existing and more planned Scotland-England subsea link projects connecting one part of Britain to another.

“These links allow us to maximise our use of wind energy. New links to other countries will also help us when it’s not windy and, together with assets like the 2GW substation now in service, to recover from any major disturbances that might occur.

“The system is always vulnerable to weather and things like lightning strikes or short circuits caused by high winds. As dependency on electricity increases, insights from electricity prediction specialists can inform planning as we enhance the resilience of the system.”

Dr Agusti Egea-Alvarez, Senior Lecturer at Strathclyde, said: “HVDC systems are becoming the backbone of the British and European electric power network, either interconnecting countries, or connecting offshore wind farms.

“The tools, procedures and guides that will be developed during HVDC-WISE will define the security, resilience and reliability standards of the electric network for the upcoming decades in Europe.”

Other project participants include Scottish Hydro Electric Transmission, the Supergrid Institute, the Electric Power Research Institute (EPRI) Europe, Tennet TSO, Universidad Pontificia Comillas, TU Delft, Tractebel Impact and the University of Cyprus.

Climate change

Eamonn Lannoye, Managing Director of EPRI Europe, said: “The European electricity grid is remarkably reliable by any standard. But as the climate changes and the grid becomes exposed to more extreme conditions, energy interdependence between regions intensifies and threats from external actors emerge. The new grid needs to be robust to those challenges.”

Juan Carlos Gonzalez, a senior researcher with the SuperGrid Institute which leads the project said: “The HVDC-WISE project is intended to provide planners with the tools and know-how to understand how grid development options perform in the context of changing threats and to ensure reliability.”

HVDC-WISE is supported by the European Union’s Horizon Europe programme under agreement 101075424 and by the UK Research and Innovation Horizon Europe Guarantee scheme.

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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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Mercury Energy Tilt Renewables acquisition signals a trans-Tasman energy push as PowAR and Mercury split assets via a scheme of arrangement, offering $7.80 per share and a $2.96b valuation across Australia and New Zealand.

Key Points

A PowAR-Mercury deal to buy Tilt Renewables, splitting Australian and New Zealand assets via a court-approved scheme.

✅ $7.80 per share, valuing Tilt at $2.96b

✅ PowAR takes AU assets; Mercury gets NZ business

✅ Infratil and Mercury to vote for the scheme

Mercury Energy and an Australian partner appear to have won the race to buy Tilt Renewables, an Australasian wind farm developer which was spun out of TrustPower, bidding almost $3 billion, amid wider utility consolidation such as the Peterborough Distribution sale to Hydro One.

Yesterday Tilt Renewables announced that it had entered a scheme implementation agreement under which it was proposed that PowAR would acquire its Australian business and Mercury would acquire the New Zealand business, mirroring cross-border approvals where U.S. antitrust clearance shaped Hydro One's bid for Avista.

Conducted through a scheme of arrangement, Tilt shareholders will be offered $7.80 a share, valuing Tilt at $2.96b.

Yesterday morning shares in Tilt opened about 18 per cent up at $7.65, though regulatory outcomes can swing valuations as seen when Hydro One-Avista reconsideration of a U.S. order came into play.

In early December Infratil, which owns around two thirds of Tilt's shares, announced it was undertaking a review of its investment after receiving approaches, with investor sentiment sensitive to governance shifts as when Hydro One shares fell after leadership changes in Ontario.

According to a report in the Australian Financial Review, the transtasman bid beat out other parties including ASX-listed APA Group, Canadian pension fund CDPQ and Australian fund manager Infrastructure Capital Group, as Canadian investors like Ontario Teachers' Plan pursue similar infrastructure deals.

“This compelling acquisition proposal is a result of Tilt Renewables’ constant focus on delivering long-term value for shareholders and the board is pleased that, with these new owners, the transition to renewables in Australia and New Zealand will continue to accelerate,” Tilt’s chairman Bruce Harker said.

Comparable community-led clean energy partnerships, such as initiatives with British Columbia First Nations highlighted in clean-energy generation, underscore the broader momentum.

Just prior to the announcement, Tilt shares had been trading for less than $4. Such repricing reflects how utilities can face perceived uncertainties, as one investor argued too many unknowns at the time.

Mercury is already Tilt’s second largest shareholder, at just under 20 per cent. Both Infratil and Mercury have agreed to vote in favour of the scheme. The deal values Tilt’s New Zealand business at $770m, however the value of Mercury’s existing shareholding is around $585m, meaning the company will increase debt by around $185m.

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