News

The US dollar experienced a slight decline on Monday as US bond yields dropped, yet it stayed near recent highs with the year-end approaching.At 04:05 ET (09:55 GMT), the Dollar Index, which measures the greenback against a group of six other currencies, decreased by 0.1% to 107.690.Nonetheless, the index is still on track for m...

The European Bank for Reconstruction and Development (EBRD) announced that it is granting a sovereign loan of up to 105 million euros ($109.7 million) to Serbia for the development of a large-scale solar-thermal power plant in the northern city of Novi Sad.This initiative will also receive co-financing, which includes an investment grant ...

German gas consumption has increased year over year for the second week in a row as of the week ending December 22, according to the latest data from the country's energy regulator.Data from the Bundesnetzagentur indicates that overall consumption averaged 3.33 TWh/d, an 8% rise compared to the same week last year.However, the d...

RWE has officially launched its 54MW San Severo onshore wind farm located in the Foggia province of the Apulia region in Italy.With the addition of this 12-turbine wind farm, the German utility now manages 16 wind farms within the country, boasting a combined installed capacity of 527MW.San Severo also features a community inves...

On December 29, Slovakia's Prime Minister Robert Fico issued an open letter to EU leaders urging them to swiftly reassess Ukraine's plan to halt the transit of Russian gas starting January 1.Fico's latest effort to preserve the east-west gas transit through Ukraine comes amid a heightened dispute between Bratislava and Kyiv regarding Ukra...

Canadian renewable energy producer Boralex Inc has formed a joint venture (JV) to create, construct, and manage a 145-MW wind farm along with a co-located battery energy storage system (BESS) in Scotland.The planned Clashindarroch Wind Farm Extension alongside the battery will be situated close to Dufftown, Moray. The facility will featur...

Europe is going into the future by trying to build two artificial “energy islands” in the North Sea and the Baltic Sea. It now plans to penetrate this realm effectively to transform the facility for offshore wind energy generation and feed into the power grids of several countries. In doing this, they are intermediaries to the future...

Singapore has prolonged the incentive for electric light commercial vehicles under its Commercial Vehicle Emissions Scheme (CVES) until 31 March 2027, extending it from the previous end date of 1 April 2025.Incentives for more polluting vehicles will also be eliminated or their surcharges increased under the CVES. This initiative is part ...

In December, Poland organized seven renewable energy auctions, but only two were successful, resulting in contracts for merely 36% of the electricity put up for sale.The Energy Regulatory Office (URE) of the country announced that the two auctions yielded contracts for over 16 TWh of electricity, valued at approximately PLN 5.1 billion (U...

Poland has expressed its willingness to increase electricity exports to Ukraine in the event that Slovakia follows through on its threat to halt backup energy supplies. As reported by Bloomberg, this declaration emphasizes Poland's dedication to aiding Ukraine amidst escalating tensions in the region, particularly related to energy transit agreemen...

Slovakia has dismissed Ukrainian President Volodymyr Zelenskiy's claim that Prime Minister Robert Fico opened a 'second energy front' against Kyiv under Russia's instructions as tensions over gas transit grow between the two nations.On Sunday, Foreign Minister Juraj Blanar stated that Slovakia is closely observing Ukraine's communications...

The winter season in Europe is affecting renewable energy production and overall electricity prices, as reported by some Scandinavian nations.As companies still cannot store large quantities of electricity, it must be consumed as soon as it is generated. Previously, the European energy market relied on fossil fuel and nuclear power to mai...

Ukraine has received its initial shipment of U.S. LNG at a Greek terminal, as both Ukraine and Europe aim to enhance their energy security by decreasing reliance on Russian gas, according to DTEK, Ukraine's largest private energy firm, on Friday.The shipment, which contains around 100 million cubic meters of gas or 1 TWh of energy, was de...

The breakaway region of Transnistria in Moldova has begun shutting off gas supplies as the deadline approaches for a gas transit agreement between Russia's Gazprom and Ukraine's Naftogaz, after Volodymyr Zelensky stated he would not extend the agreement.According to Reuters, gas supply reductions in Transnistria commenced on Sunday, prima...