Author: omc_admin

Spain is boosting generation from costlier gas-fired power plants in the wake of a nationwide blackout that raised concerns about the grid’s ability to cope with an abundance of renewable energy.  The output of combined-cycle gas turbines, a more steady generation technology than solar, jumped 37% in the two weeks after the outage, compared with the two weeks prior, data from power grid operator Red Electrica show. Their average share of Spain’s power mix increased to 18% from about 12%.  The collapse of Spain’s power grid left millions without electricity, telephone communication, trains and traffic lights for hours on April…

GROTON, Conn. (AP) — The union for about 2,500 submarine designers at Electric Boat in Connecticut has tentatively agreed to a new contract with the company, averting a strike that would have begun Monday.The Marine Draftsmen’s Association-United Auto Workers of America, Local 571, essentially the workers responsible for designing the U.S. Navy’s nuclear submarine fleet, had threatened to strike earlier this month if the company did not make greater wage and benefit concessions.The local’s negotiating committee announced the tentative contract agreement late Sunday, saying it contains “unprecedented” wage increases of more than 30% over the five-year term as well as…

Renewable energy project developer energyRe announced a new agreement with Google, enabling the tech giant to purchase Renewable Energy Credits (RECs) from a portfolio of more than 600 MW of new solar and solar with storage projects being developed by energyRe in South Carolina. The announcement marks the second agreement between the Google and energyRe, bringing the new U.S. clean energy capacity enabled by the collaboration to over 1 GW, following a 12-year PPA signed by the companies in October 2024. Miguel Prado, CEO of energyRe, said: “This agreement is a milestone in energyRe’s mission to develop innovative and impactful…

Slovak startup InoBat plans to launch a battery designed for military drones and unmanned aerial systems, it said on Monday, as it responds to an upsurge in European defence spending. The company will start producing the E10 cell in September and is in “in early-stage collaboration with selected European drone manufacturers,” CEO Marian Bocek told Reuters. “We are engaging with drone manufacturers that require a technologically superior European battery solution,” Bocek said. The company’s previous focus has been electric vehicle and electric vertical take-off and landing vehicle batteries. As Europe scrambles to increase production of tanks, radars and weapons following…

Chinese battery giant CATL has raised $4.6 billion in its Hong Kong listing, the largest listing globally so far for 2025.Final pricing was set at HK$263 each, the maximum offer price, according to a term sheet seen by Reuters. That matched information from sources.CATL did not immediately respond to a request for comment.According to the term sheet, 125.4 million shares were sold to institutional investors and 10.16 million shares were sold to Hong Kong retail investors.CATL’s deal size could increase to $5.3 billion if a so-called greenshoe option to sell a further 17.7 million shares is exercised.If that goes ahead,…

New Delhi: City Gas Distribution company THINK Gas announced the rollout of six new LNG fuelling hubs to support long-haul heavy-duty truck transport across key locations in Andhra Pradesh and Tamil Nadu. Three of the stations will be commissioned by September 2025 and the remaining three by December 2025.The company said the new LNG fuelling points will be set up at Anantapur and Nellore in Andhra Pradesh, and Vallam in Tamil Nadu’s Kanchipuram district. These will be integrated with THINK Gas’s existing LCNG stations to facilitate LNG dispensing.“India is entering a new era of energy transformation, and at THINK Gas,…

Paris-based banking services provider La Banque Postale announced the launch of a new ESG-focused approach to its financial savings products, aimed at enabling customers to select savings products according to their sustainability criteria and preferences. The new ESG approach covers the entire scope of La Banque Postale’s financial savings products, which spans areas including ordinary securities accounts, life insurance, and Share Savings Plans from across the group’s business units which include CNP Assurances, LPB AM, and Louvre Banque Privée. The bank added that extra- financial factors are now central to the advisory approach of its relationship managers, beyond their regulatory…

Germany, which has been opposing for years EU attempts to treat nuclear power as a green electricity source on par with renewable energy, has dropped this opposition under new chancellor Friedrich Merz, which could make EU energy policy much easier to adopt.  Germany under former chancellor Olaf Scholz was opposing treating nuclear on an equal footing as solar and wind in the EU’s goals and policy to achieve net-zero by 2050. The anti-nuclear camp was led by Germany and Austria and was dismissing nuclear as a “green” power source. Now Merz’s Germany appears to be shifting its anti-nuclear stance on EU energy…

OPEC+ did not lift production by 400,000 barrels per day in May and June to kill the oil price and to go full throttle on an oil price war. That’s what Bjarne Schieldrop, Chief Commodities Analyst at Skandinaviska Enskilda Banken AB (SEB), said in an oil report sent to Rigzone by the SEB team on Friday, adding that the group did it to meet added demand for oil in the Middle East, “which rise[s] significantly in summertime due to air conditioning and religious pilgrimage to Saudi Arabia”. “The plan of lifting production by 2.1 million barrels per day by December…

Indre-et-Loire inaugurates Centre-Val de Loire region’s first green hydrogen station at Sorigny’s Isoparc business park, providing a strategic refueling point for various hydrogen vehicles. The €2 million ($2.16 million) facility, leveraging innovative hybrid compression technology, underscores regional ambitions to accelerate sustainable energy transition. The new facility boasts a daily production capacity of 200 kilograms of hydrogen and features an advanced hybrid compression system developed by Eifhytec, combining mechanical and thermochemical methods for optimal energy efficiency and reduced spatial footprint. Managed by the Touraine Vallée de l’Indre Community of Communes (CCTVI), the station supports the region’s wider renewable hydrogen initiative, Hy’Touraine.…