🌞 Energy Futures #49

Happy Monday 👋

In the latest energy sector updates, several significant developments have emerged. The EU approved a $2.7B program to enhance offshore wind and hydrogen projects in Estonia, aiming to accelerate the transition to a net-zero economy. The UKAEA created the world's first carbon-14 diamond battery, a groundbreaking innovation promising decades of power generation. In Colombia, the discovery of the largest gas reserve in history strengthens energy security. Meanwhile, Fortescue ordered $254M in emissions-free mining equipment from China to reach net-zero emissions. Lastly, TotalEnergies acquired VSB Group in a $1.6B deal, expanding its solar capacity across Europe.

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

🌊 EU Approves $2.7B Scheme to Boost Offshore Wind and Hydrogen in Estonia. The European Commission approved Estonia’s $2.7B state aid program to expand renewable offshore wind energy and support clean hydrogen production. The initiative aims to accelerate the transition to a net-zero economy by promoting sustainable energy generation and storage.

🌞 Japan Unveils Solar Super Panel with 20x Power of Nuclear Reactors. Japanese scientists developed a groundbreaking solar superpanel capable of generating energy equivalent to 20 nuclear reactors. This innovation combines ultra-high efficiency and durability, marking a significant leap in renewable energy technology.

⚡ Revolutionary Battery Generates Hydrogen Fuel from Water. Researchers developed a breakthrough battery capable of splitting water to produce hydrogen fuel while storing energy. This innovation combines energy storage with green hydrogen production, offering a sustainable solution for energy generation and storage needs.

🔌 Utilities

⚡ UKAEA Creates World’s First Carbon-14 Diamond Battery. Scientists and engineers from the UK Atomic Energy Authority (UKAEA) and the University of Bristol successfully developed the world's first carbon-14 diamond battery that has the potential to generate power for several decades.

🌍 COP29 Global Energy Storage and Grids Pledge gains widespread support. Fifty-eight nations, alongside global organizations, endorsed the Global Energy Storage and Grids Pledge at COP29. The initiative targets a sixfold global energy storage capacity increase to 1.5 terawatts by 2030, ensuring reliable renewable energy integration. 

🌍 Underground Batteries Revolutionizing Renewable Energy Storage. Innovative underground batteries, such as pumped hydro and compressed air systems, are emerging as a transformative solution for renewable energy storage. These technologies store surplus energy and release it when demand peaks, enhancing grid reliability and promoting large-scale renewable adoption.

🔋 World's Largest Vanadium Redox Flow Battery Project Completed. The largest global vanadium redox flow battery system is operational, providing 100 MW/400 MWh storage capacity. This sustainable energy solution delivers long-duration storage, supporting grid stability and renewable integration.

⛽ Oil & Gas

🔥 Colombia Discovers Largest Gas Reserve in History. Colombia uncovered its largest gas reserve, estimated at 2.5 trillion cubic feet, in the Caribbean Sea. This discovery is set to strengthen the country’s energy security and reduce dependency on energy imports.

⛽ Global Demand for US LNG Rising Despite Export Ban. Global demand for US liquefied natural gas (LNG) continues to grow, even as export restrictions persist. Countries in Europe and Asia are seeking alternative energy sources, with US LNG being a key option despite ongoing logistical challenges.

🛢️Oil Prices Stabilize Amid China Stimulus and Syrian Instability. Oil prices remain steady as traders assess the impact of China's economic stimulus and ongoing unrest in Syria. Concerns over Syrian production disruptions and potential global demand changes due to economic measures in China are influencing market sentiments. The balance of these factors has led to cautious stability in oil markets.

💎 Mining and Metals

⛏️ Fortescue Orders Emissions-Free Mining Equipment from China. Australian mining company Fortescue ordered $254M worth of emissions-free heavy mining equipment from China's Xuzhou Construction Machinery Group Co., Ltd as part of its efforts to achieve 'real zero' emissions.

⛏️ Australia Invests $75M to Boost Critical Mineral Supplies. The Australian Government announced a $75M investment to enhance the supply of critical minerals needed for the renewable energy transition. This initiative is part of the broader Future Made in Australia strategy, aiming to promote sustainable mining practices and decarbonization.

🌱 IIT Guwahati Develops Novel Method for Creating Biofuels. IIT Guwahati has developed a novel technology to convert methane and CO₂ into eco-friendly biofuels, potentially reducing greenhouse gas emissions. The innovation presents an efficient, low-cost alternative for large-scale biofuel production, addressing key environmental concerns and contributing to sustainable energy solutions.

🛠️ 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.

🔋 EIT Battery Academy trains 100,000 learners for green workforce transformation. EIT’s European Battery Alliance Academy has trained 100,000 learners, equipping Europe’s workforce with essential skills for the green transition. Offering tailored technical and foundational courses in 10 languages, the Academy has reached learners across Germany, France, Spain, Poland, and Romania. This milestone underscores EIT’s commitment to innovation and sustainability, setting the stage for future Net-Zero Industry Academies and expanding workforce services to include hiring, onboarding, and retention.

🌞 UHI Inverness opens a hub for green heating skills training. UHI Inverness has launched the Renewable Energy Training Hub, offering hands-on training with advanced air source heat pump technologies. Supported by industry leaders like Panasonic, Samsung, and Grant UK, the hub addresses Scotland’s green skills shortage and promotes sustainable heating solutions. Funded by the UK Shared Prosperity Fund, the hub equips apprentices and professionals to decarbonize heating systems, future-proof homes, and transition from fossil fuels to sustainable technologies, advancing regional climate goals.

🏤 South West College secures €9.8M for green skills training. South West College has secured €9.8M through the PEACEPLUS program to launch the Green Accelerator Skills Programme (GRASP). Focusing on green skills in the construction sector, GRASP addresses areas like NZEB tradesperson training, PassivHaus design, and environmental auditing. With key collaborations, including Women into Construction, the program aims to train 2,000 employees over four years, equipping rural Fermanagh and Tyrone’s workforce for Net Zero challenges and sustainable innovation.

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

⚡ TotalEnergies Acquires VSB Group, Sells Part of Texas Portfolio. Partners Group sells VSB to TotalEnergies in a $1.6B deal. The transaction will enhance TotalEnergies' renewable energy portfolio, with a focus on expanding its solar power capacity. VSB operates large-scale solar projects across Europe.

☀️ GCP Secures $300M Financing for Arkansas Solar Project. GCP raised $300M in debt and equity financing to build a solar energy generation and battery storage facility in Arkansas, United States.

🌱 Akuo Secures $205M in Green Bond Financing for Renewable Energy Projects. Renewable energy company Akuo, secured $205M in green bond financing to accelerate its renewable energy projects.

🌍 Camco raises a $185M fund to decarbonize the African energy grid. Camco, a climate and impact fund manager, reached its first close on $107M for its new REPP 2 debt fund to invest in decarbonizing the African energy grid, with plans to raise a total of $185M.

🌱 Elyse Energy Secures $126.1M for Sustainable Fuel Projects. Elyse Energy, secured $126M to finance its sustainable fuel initiatives. The funds will support the company’s efforts to develop and scale renewable fuels and energy solutions, contributing to the global shift towards cleaner, low-carbon alternatives.

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Thank you for reading. Have a great week ahead!
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