🌞 Energy Futures #36

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 👋

The US announced a $7.3B investment through the Inflation Reduction Act to electrify rural America, supporting clean energy projects across 23 states. In a significant advancement for solar energy, researchers have improved solar fuel production by using 3D silicon scaffolds on photoelectrodes, enhancing the conversion of carbon dioxide into liquid fuels. The EU is preparing to implement its CBAM in 2026, which will impact firms in the metals sector. Japan approved Toyota's plans to develop all-solid-state batteries for electric vehicles, marking a key evolution in EV battery technology. Pakistan's recent discovery of massive oil and gas reserves could make it the world's fourth-largest reserve, while a looming copper shortage threatens the green energy transition. On the financial front, Contact Energy is acquiring Manawa Energy for $1B, expanding its wind, solar, and hydropower assets in New Zealand.

🌅 New Energy

🌽 US Invests $7.3B in Rural Electrification. President Biden announced a $7.3B investment through the Inflation Reduction Act to provide affordable and reliable electricity to rural America. Sixteen rural electric cooperatives across 23 states will receive financing for clean energy projects.

⚙️ EU Firms Preparing for Climate Border Adjustment Mechanism. EU firms, especially in the metals sector, are preparing for the full implementation of the EU's new climate border adjustment mechanism (CBAM) in 2026.

⚡️ Breakthrough in Solar Fuel Production. Researchers found that using 3D silicon scaffolds on photoelectrodes can increase the yield of desired products when converting carbon dioxide into liquid fuels using sunlight.

🔌 Utilities

🔋 Toyota's Solid-State EV Battery Plans Get Green Light. Japan's Ministry of Trade and Industry approved Toyota's plans to develop all-solid-state batteries for electric vehicles.

💥 World's Largest Iron-Air Battery to Boost Renewable Energy Storage. A new iron-air battery technology, described as 'reverse rusting', has been developed that will provide large-scale renewable energy storage in Maine at low cost.

⚡ Significant Drop in Power Demand in India. Power demand in India fell sharply in August, with a 5.3% decline compared to last year. Peak power demand decreased substantially, from 238 GW in August 2022 to 217 GW in August 2023.

⛽ Oil & Gas

⛽ OPEC+ Delays Increasing Oil Output Despite Price Drop. OPEC+, the group of major oil producers, decided to delay increasing oil production despite falling oil prices this week.

🤝 India and the UAE Strengthen Energy Ties with LNG and Nuclear Pacts. During the Crown Prince of Abu Dhabi's visit to New Delhi, India, and the UAE signed significant agreements on LNG supply and nuclear cooperation. A major deal involves ADNOC supplying 1 million tonnes of LNG annually to IOCL.

🛢️ Massive Oil and Gas Reserves Found in Pakistani Waters. A major discovery of oil and natural gas reserves in Pakistan's waters is projected to be the world's fourth-largest. This find could significantly impact Pakistan's economy, with potential exploration and extraction activities expected to commence soon.

💎 Mining and Metals

⛏️ Looming Copper Shortage Threatens Green Energy Transition. Global copper supplies face severe challenges as demand skyrockets, potentially disrupting the world's transition to renewable energy sources that rely heavily on this critical metal.

⚠️ Mining in the Amazon for Renewable Energy Minerals Raises Concerns. Mining operations in the Amazon region to extract critical minerals needed for renewable energy production are intensifying, posing risks to local communities and the environment, even as demand for these minerals from the renewable energy industry grows.

💰 Energy Deals

⚡️ Major Energy Deal in New Zealand. Contact Energy is acquiring Manawa Energy in a $1B deal, gaining significant wind, solar and hydropower assets.

🌳 Azure Power Refinances Green Bonds with Massive Loan. Azure Power Global Limited, a renewable power producer, is prepaying its Green Bonds due in 2024 by taking a $289.2M term loan from REC Limited.

🌞 Golden Valley Electric Association Secures $206M Federal Funding for Renewable Energy Projects. Golden Valley Electric Association, an electric utility company, was selected by the U.S. Department of Agriculture to receive $206M in federal grants and zero-interest loans for two renewable energy projects and other initiatives.

🚗 South Korean Startup Buren Technology Raises $18M for Autonomous Driving Tech. Buren Technology, a South Korean startup focused on LIDAR-based autonomous driving and ADAS technology, announced that it raised $18M in investment.

🔋 Battery Storage Startup Secures $17.5M Series A Funding. A battery storage startup raised $17.5M in a Series A funding round. Origin Energy took a 5% equity stake in the startup last year to build a pilot storage plant.

Thank you for reading. Have a great week ahead!
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