Energy

US sanctions Iranian officials as Iran protests face crackdown and internet blackout

The United States imposed new sanctions on Iranian political and security officials, including Ali Larijani, over Iran’s crackdown on antigovernment protesters as Iran imposed an internet blackout and deaths were reported by activist groups and the government.

NTPC Green Energy and GAIL approve 50:50 joint venture to develop renewable energy projects

NTPC Green Energy said its board approved a 50:50 joint venture agreement with GAIL (India) Ltd to undertake renewable energy projects, subject to approvals from the Ministry of Power, DIPAM, and other statutory authorities as applicable.

Ukraine declares state of emergency in energy sector as Russian strikes and extreme cold disrupt power and heating

Ukraine declared a state of emergency in the energy sector, focusing on Kyiv, as Russian strikes and extreme cold left thousands without power, heating, or running water.

IOC and BPCL joint venture reports two oil discoveries in Abu Dhabi Onshore Block 1

Indian Oil Corporation and Bharat Petroleum Corporation’s joint venture Urja Bharat Pte Ltd reported oil discoveries in two exploratory wells in Abu Dhabi’s Onshore Block 1 concession, with appraisal planned to assess commercial viability.

Ukraine appoints a new defence minister and moves the former defence minister to the energy ministry

Ukraine’s parliament confirmed Mykhailo Fedorov as defence minister and appointed Denys Shmyhal as energy minister and first deputy prime minister during a second attempt to fill the posts.

Ukraine appoints new defence minister and confirms energy minister in second vote

Ukraine’s parliament confirmed Mykhailo Fedorov as defence minister and appointed Denys Shmyhal as energy minister and first deputy prime minister in a second attempt.

Type One Energy raises $87 million and plans a stellarator fusion power plant with TVA

Type One Energy raised $87 million in a convertible note and is raising a $250 million Series B while planning a first commercial fusion power plant with the Tennessee Valley Authority.

BP plans up to $5bn writedown as it pivots away from green energy and back to fossil fuels

BP said it expects to write down up to $5bn from its green energy transition businesses as it refocuses on oil and gas while facing weaker oil trading and lower oil prices.

UK offshore wind subsidy auction awards contracts for 8.4GW to power over 12m homes

A UK renewable subsidy auction awarded contracts for 12 new offshore wind projects totaling 8.4GW, stated to be enough to generate clean electricity for more than 12m British homes before the end of the decade.

Meta launches Meta Compute to expand AI infrastructure and energy capacity

Mark Zuckerberg announced Meta Compute, an initiative to bolster Meta’s AI infrastructure and expand the company’s energy footprint.

L&T wins large construction order for 3000 MW Saidongar-1 pumped storage project in Maharashtra

Larsen & Toubro’s heavy civil infrastructure business secured a ‘large’ order from Torrent Energy Storage Solutions to construct the 3000 MW Saidongar-1 Pumped Storage Project in Maharashtra.

Microsoft pledges to fund AI data center power and grid upgrades in host communities

Microsoft said it will absorb higher utility rates and pay for grid upgrades where it builds AI data centers to avoid passing costs to local residents.

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