🔋 Energy Futures #29

HolonIQ's energy futures coverage for the week ahead.

Our Climate Tech coverage has grown significantly, and due to popular demand, we're splitting it into weekly Energy Futures, Enviro Futures, Infra Futures, and Mobility Futures newsletters over the coming weeks.

This newsletter is 'Energy Futures,' and you can update your subscriptions to any of the other weekly newsletters here.

Questions we'll look to address in Energy Futures include those around global elections and what they mean for energy markets, how far and when is peak demand for fossil fuels, the roadmap for energy transition and supply chain risks for critical minerals, among others.

Happy Monday 👋

European governments continue to scale up funding for green hydrogen production, supporting the private sector in bringing solutions to the market. This sits within the broad trend of Europe diversifying its hydrogen supply within and beyond borders, keeping with the medium to long-term goal of replacing natural gas. Saudi Arabia’s solar panel manufacturing project is an extension of its strategy to secure mineral supplies and set up industries that use minerals as raw materials. Lithium battery prices declined in China as a result of slowing EV sales. 3 Baltic states are expected to join the leading European energy market, exiting the Russia-controlled energy system for political reasons. This is an opportunity for Europe’s expanding renewable energy and BESS capacity, which broadens the energy trading scope between countries.

🔌 Power

🌬️Shanghai's 29 GW Massive Offshore Wind Power Plan. Shanghai has unveiled a plan approved by China's central government to install 29 GW of offshore wind capacity, which could power half the city.

🌍India's Budget 2024 Prioritizes Renewable and Nuclear Energy for Development. In the Union Budget 2024, the government emphasized renewable and nuclear energy as key areas to drive India's development and become a developed nation by 2047.

⚛️South Korea Invests $863.7 Million in Nuclear Fusion Technology. The South Korean government announced an investment of $863.7 million to develop nuclear fusion technologies, focusing on large-scale reactors in Korea and smaller reactors led by international companies.

📦 Energy Storage

🔌 Rajasthan Seeks Large-Scale Energy Storage Solution. Rajasthan Urja Vikas & IT Service Limited (RUVNITL), a state government entity, has initiated a bidding process to procure a 1,000 MW pump storage-based energy storage system with 6,000 MWh daily discharge capacity.

⚡ Major Energy Storage Project for Puerto Rico. The U.S. Department of Energy will provide a loan guarantee to help finance a large solar and battery storage project in Puerto Rico. The project involves 200 MW of solar and 285 MW of grid-scale battery storage on the island.

🍃 ADB Boosts Kazakhstan's Renewable Energy Grid with $123M Deal. The Asian Development Bank (ADB) and Kazakhstan's national grid operator, KEGOC, have signed a $123 million deal to upgrade the power grid in southern Kazakhstan to better integrate renewable energy sources.

💰 Energy Deals

🤝EQT and Equitrans Midstream Complete $5.4 Billion Merger. EQT Corp., an independent natural gas producer, has closed its $5.4 billion all-stock acquisition of Equitrans Midstream Corp., an energy company.

💰Archrock to Acquire TOPS in $983 Million Deal. Archrock, a US-based natural gas infrastructure company, has finalized a definitive agreement to acquire TOPS for $983 million.

💰Chappal Energies Acquires Stake in TotalEnergies' Nigerian Assets. Chappal Energies, a Mauritius-based company, has acquired a minority stake in TotalEnergies' Nigerian onshore joint venture assets for $860 million.

🔋Japanese Solar Firm EneCoat Raises $35M for Perovskite Production. EneCoat Technologies, a Japanese solar perovskite developer, has raised $35 million from investors to finance collaborations based on its low-temperature production process.

♻️Major Grant for Battery Recycling Initiative. Batteries Plus, a company specializing in battery products and services, has been awarded a $7 million grant from the US Department of Energy to establish itself as a leading facility for battery recycling in the country.

Thank you for reading. Have a great week ahead!
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