Energy

Newcleo Raises €135mn and Relocates Headquarters to Paris

September 30, 2024

Newcleo Raises €135mn and Relocates Headquarters to Paris

Nuclear energy start-up Newcleo has secured €135 million from new investors, including Italian pension fund Inarcassa, as it relocates its headquarters from London to Paris. With this new funding, Newcleo's total raised capital exceeds €535 million, positioning the company to deepen European partnerships and access more funding opportunities as it develops small modular reactors powered by reprocessed nuclear waste.

Renewables Surpass Fossil Fuels in Dutch Power Generation

September 29, 2024

Min

Renewables Surpass Fossil Fuels in Dutch Power Generation

For the first time, renewable energy sources have generated more electricity than fossil fuels in the Netherlands during the first half of 2024. This shift marks a significant milestone in the country's efforts to reduce greenhouse gas emissions and transition towards a greener energy future.

Poland's PGE Marks Major Step Towards a Coal-Free Future

September 26, 2024

Min

Poland's PGE Marks Major Step Towards a Coal-Free Future

Poland's largest power utility, PGE, will shut down the last four coal-fired units at its Rybnik power plant by the end of 2025. This move aligns with the company's broader shift towards renewable energy and away from coal, which has become increasingly unprofitable.

Shell Shelves Norway Hydrogen Project Due to Lack of Demand

September 25, 2024

Min

Shell Shelves Norway Hydrogen Project Due to Lack of Demand

Shell has decided to halt its plans for a low-carbon hydrogen plant on Norway's west coast due to insufficient market demand. This decision follows Equinor's cancellation of a similar project, both of which were intended to produce blue hydrogen, a cleaner energy alternative, but proved too costly for the market.

September 23, 2024

Min

Major Banks Pledge to Triple Global Nuclear Capacity by 2050

Leading global financial institutions, including Goldman Sachs, BNP Paribas, and Morgan Stanley, have committed to significantly increase support for nuclear energy projects. This move aims to boost nuclear power as a key part of the global energy transition, in line with climate goals to triple nuclear capacity by 2050.

September 18, 2024

Min

UK to Close Its Last Coal Power Plant

The UK will close its last remaining coal-fired power plant, Ratcliffe-on-Soar, on September 30, 2024, marking a significant step in its transition toward clean energy. The closure is part of the UK's broader efforts to decarbonize electricity by 2030 and achieve carbon neutrality by 2050, making it the first G7 nation to completely phase out coal power.

EU Approves €682mn Belgian State Aid for Offshore Wind Energy

September 13, 2024

Min

EU Approves €682mn Belgian State Aid for Offshore Wind Energy

EU regulators have approved a €682 million state aid package from Belgium to support renewable offshore wind energy. The project will contribute significantly to Europe's renewable energy targets by constructing a 700 MW wind farm in the North Sea, generating 2.6 terawatt-hours of green energy annually.

September 12, 2024

Min

Scotland’s Last Oil Refinery to Close

The Grangemouth refinery, Scotland’s only oil refining facility, will close by summer 2025, resulting in the loss of 400 jobs. The decision, driven by the site’s inability to compete with more modern refineries globally, will see the plant converted into a terminal to import fuels.