🌞 Energy Futures #47
HolonIQ's Energy Newsletter dives into the latest developments in new energy, utilities, oil and gas, mining and metals and highlights the week's top skills and energy deals.
Happy Monday 👋
Recent developments in the energy sector underscore significant strides in both renewable and traditional energy resources. Germany's $25B loan agreement with KfW to establish a national hydrogen core network strengthens its hydrogen strategy and accelerates the transition to cleaner energy. Meanwhile, the EnergyConnect transmission project, worth $2.3B, enhances power grid connectivity across New South Wales, South Australia, and Victoria, facilitating renewable energy sharing. Suriname announces $750 oil royalty payouts to citizens, linked to TotalEnergies’ $10.5B offshore oil project set for 2028. BHP’s $14B investment plan in Chile’s copper mines aims to secure global supply. Lastly, ConocoPhillips strengthens its portfolio with the $22.5B acquisition of Marathon Oil, solidifying its position in the oil and gas sector.
What's new?
HolonIQ’s new Green Skills Map and Workforce section reveal industry-wide sustainability skills and jobs, as well as workforce development initiatives, supporting upskilling for a sustainable economy.
HolonIQ's new skills newsletter is here! Get updates on emerging skills, workforce shifts, and industry insights across impact sectors. Subscribe now to stay ahead.
🌅 New Energy
⚡ Germany Secures $25B Loan for Hydrogen Infrastructure Network. The German government and KfW, a state-owned development bank, signed a $25B loan agreement to finance the construction of a national hydrogen core network as part of the country's hydrogen strategy.
⚡ JinkoSolar Launches World's Most Powerful Solar Panels. JinkoSolar, a global solar panel manufacturer, launched its next-generation Tiger Neo 3.0 solar panels featuring TOPCon technology. These panels are the world's most powerful residential and utility solar panels, with up to 670W power output.
🌍 South Australia secures world-first hydrogen gas turbines. The Malinauskas Labor Government in South Australia secured an agreement for the world's first 100% renewable hydrogen-capable gas turbines.
🔌 Utilities
🔌 EnergyConnect transmission project connects three Australian states. The EnergyConnect transmission infrastructure project, worth $2.3B, successfully connected the power grids of New South Wales, South Australia, and Victoria, enabling the sharing of renewable energy between these three Australian states.
⚡ NSW Government Approves $1B Battery Project Near Lithgow. The New South Wales government approved a major, large-scale battery project worth over $1B near Lithgow. At the same time, Federal opposition leader Peter Dutton proposed the same site for a nuclear power plant.
⚡ US DOE Invests $30M to Use AI for Faster Energy Grid Connections. The US Department of Energy announced $30M in funding to use artificial intelligence (AI) to accelerate the interconnection process for new energy generation sources to the power grid.
⛽ Oil & Gas
💰 Suriname to Share Oil and Gas Royalties with Citizens. Suriname pledged $750 per citizen in oil royalties through a 7% annual stake. TotalEnergies' $10.5 billion offshore oil project targets crude production by 2028, boosting national development.
⚠️ Oil Prices Rise Amid Escalating Ukraine Conflict. Global oil prices climb as Ukraine's escalating conflict heightens energy supply chain risks. Market focus remains on potential disruptions and their impact on crude availability.
⚡ US Imposes Sanctions on Gazprombank to Curtail Russian Gas Exports. The United States imposed sanctions on Gazprombank, a major Russian bank, in an effort to limit Russia’s energy influence by restricting its gas exports, amidst ongoing geopolitical tensions.
💎 Mining and Metals
💰 BHP's $14B Investment Plan for Chilean Copper Mines to Impact Global Supply. BHP announced a $14B investment plan to expand its copper mines in Chile, aiming to boost production and secure supply, expected to impact the global copper supply.
🌍 Indonesia's Bold Push to Net Zero: Shutting Down All Coal Plants in 15 Years. Indonesia aims to achieve net zero emissions by 2050 with a major energy plan involving retiring all coal plants within 15 years, adding significant renewable energy capacity, and leveraging carbon credits.
⚡ Turning Carbon Dioxide Into Renewable Diesel Fuel With Electricity & Microbes. Researchers at Washington University in St. Louis developed a more efficient method to produce renewable diesel fuel from carbon dioxide using electricity and microbes.
🛠️ Skills and Workforce
HolonIQ is now tracking reskilling and upskilling initiatives critical in bridging workforce gaps. Impact industries are rapidly evolving, fueled by technological advancements, decarbonization, geopolitical dynamics, and socio-economic factors. To that extent, these sectors require considerable workforce/professional development initiatives to enhance workers' capabilities, boost economic growth, and promote social well-being. Read on for this week’s insights, and discover more in HolonIQ's latest Skills newsletter.
🗑️ ILO Skills Project Enhances Waste Management and Sustainability for SMEs. A recent ILO initiative in Arba Minch, Ethiopia, focused on training women-led and disability-inclusive small and medium enterprises (SMEs) in environmental sustainability and waste management. The training addressed skills gaps and fostered green business practices, including circular economy and waste-to-value strategies. Participants gained practical knowledge in waste management, sustainability, and entrepreneurship, which they can apply to their businesses, supporting Ethiopia’s green growth and economic inclusion goals. The program highlights the role of SMEs in sustainable development.
👔 Newsom Unveils Jobs Program in Fresno, Reinforces $200M Downtown Promise. California Governor Gavin Newsom introduced a $120M jobs program in Fresno focused on clean energy, carbon capture, and manufacturing, aligning with the California Jobs First Initiative. Highlighting community-driven strategies, Newson emphasized workforce development through local partnerships. The program is aimed at bridging regional economic gaps. Additionally, Newsom reaffirmed his commitment to a $200M downtown revitalization fund, ensuring its inclusion in the upcoming state budget.
🪟 New Training Center Bridges Green Heating Skills Gap in Cumbria, UK. Lakes College in Cumbria has launched a new green energy training center, funded by £200K from the government, to address the skills gap in low-carbon heating. The center will offer courses in air and ground source heat pumps, solar thermal, and electric vehicle charging. As the UK seeks 33,700 heat pump installers, the center aims to provide critical training to meet Net Zero goals, supporting the nation’s green targets.
HolonIQ has launched the Green Skills Map, an open-source framework initiated for cataloging, evaluating, and contextualizing the different components of the rapidly expanding field of green jobs. This comprehensive taxonomy will serve as a resource for understanding the full spectrum and complexity of green skills required across various sectors, thereby enabling a cohesive approach toward achieving net zero and decarbonizing the global economy. Green Skills Map spans 11 areas, 54 sub-areas, and 243 green skills clusters. A snippet of the map covering four areas has been included above. Explore the full map on greenskills.org.
💰 Energy Deals
⚡ ConocoPhillips Completes $22.5B Acquisition of Marathon Oil. ConocoPhillips completed a $22.5B acquisition of Marathon Oil Corporation, expanding its portfolio and strengthening its position in the oil and gas sector.
⛽ SBM Offshore Secures $1.5B Loan for Guyana-Bound FPSO Construction. SBM Offshore, an energy company, secured a $1.5B loan from a consortium of 16 international financial institutions to finance the construction of an FPSO vessel destined for operations in Guyana.
💸 Upwind Raises $100M in Series B Funding. Upwind, a renewable energy company, raised $100M in Series B funding to accelerate its renewable energy solutions and global expansion. The investment will support the company’s development of innovative technologies in the clean energy sector.
🔋 Silfab secures $100M funding to expand solar cell manufacturing in the US Silfab, a solar cell manufacturer, secured $100M in funding, including a $50 million equity investment and a $50 million green loan, to scale its solar cell manufacturing plant in South Carolina, US.
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