Big Moves
Statkraft and Hydro Energi sign 8.8 TWh PPA in Norway
Statkraft and Hydro Energi have signed a long-term power purchase agreement (PPA) in Norway. The agreement covers the supply of 876 GWh annually from 2031 to 2040, totalling to approximately 8.8 TWh over the contract period. The agreements will supply power to Hydro’s aluminium plants, with deliveries in NO5 electricity price area. The agreement follows two long-term PPAs signed by Hydro and Statkraft in April 2026 for the delivery of 0.9 TWh annually in 2029 and 2030, and 1.3 TWh annually from 2031 to 2038.
News
Quinbrook selects GE Vernova to supply technology for third stage of Supernode BESS
Quinbrook has selected GE Vernova to supply technology for the third stage of the Supernode battery storage energy system (BESS) project in Queensland, Australia. GE Vernova will provide the power conversion, control and integration technologies for the third stage of the project. The project’s third stage will add 260 MW/1,216 MWh of four-hour BESS capacity.
Interviews
We are increasing our private sector financing four-fold: ADB’s Masato Kanda
The ongoing conflict in the Middle East is delivering a direct hit to the global economic engine. Geopolitical disruptions do not respect borders. They affect fuel, freight, finance, and factories. They also spike trade uncertainty and land squarely on the household budgets of the communities that can least afford it. At the same time, we are facing an unprecedented, staggering surge in electricity demand. This isn’t just being driven by rapid urbanization. It is being fueled by the explosive expansion of power-intensive AI data centers and deep electrification of our economies.
Opinion & Perspective
Connected, Not Clean: The ASEAN Power Grid’s Real Test
The ASEAN Power Grid stands as a symbol of regional cooperation at a time of great uncertainty in energy markets. Even if interconnection proceeds flawlessly on time and within budget, the electricity surging through these cross-border lines might not deliver the sustainable, green future governments have promised. The ASEAN Power Grid is transmission infrastructure. It moves electricity across borders; it doesn't generate it. This distinction is important because the grid is being financed and praised as a climate project. But building it and cleaning up the region’s power supply are two different achievements. A grid can be finished, funded and celebrated and still fail to deliver on sustainability, as the outcome depends on what the member states feed into it.
Mega Trends & Analysis
Capacity Markets in Operation and Under Development in Europe
There is a concerning lack of oversight over Europe’s capacity markets. Evidence suggests that advancements in Germany, Poland and Italy may violate EU state aid rules; with the schemes manipulated to favour gas power plants. European Commission is urged to enforce technology neutrality rules to ensure clean flexibility technologies have equal access; and ensure there is robust evidence of the necessity of these subsidies. A number of capacity markets will require EU state aid reapproval in the coming years, as they come up to their 10-year lifespan. At the same time, a number of countries are looking to introduce capacity markets. The clear, viable alternative to a gas-dominated system is a renewables-based approach, replacing the role that gas currently performs to provide flexibility with clean solutions like batteries, demand side response, interconnectors and long-duration energy storage.
Policy Watch
RGGI Is Funding Lower Household Bills as Data Centers Spike Prices in the US
States are investing in clean energy and lowering electricity bills through the Regional Greenhouse Gas Initiative. Demand for energy is growing in the Northeast and mid-Atlantic, spiking electricity bills and pollution in some states. The Regional Greenhouse Gas Initiative (RGGI)—which sets a declining cap on carbon emissions from power plants and returns the program’s proceeds to fund energy and environmental programs—is serving as an essential stopgap for offsetting household electricity bills while reducing climate pollution. States must stay on track with RGGI to protect these consumer benefits.
Tech Talk
Why underground hydrogen storage in Europe matters for a low-carbon energy system?
Europe’s energy system is entering a decisive transformation. Energy storage is therefore increasingly critical. Short-duration options smooth intraday variability and support hourly and daily balancing. But when imbalances last beyond roughly 8–10 hours, direct electricity storage hits technical and economic limits. At that point, only large-scale, long-duration storage can cover overnight, multi-day, or seasonal stress events. Until now, underground gas storage has been the primary source of large-scale system resilience, and it continues to play a critical role. In a low-carbon system, underground hydrogen storage will take over this role, delivering long-duration flexibility with clean molecules.
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Webinars & Videos
Global Critical Minerals Outlook 2026: IEA Webinar
The 2026 edition of the IEA’s annual Global Critical Minerals Outlook includes a detailed assessment of the latest market, investment and technology trends, along with their implications for critical mineral security. The report provides a snapshot of recent industry developments and offers medium- and long-term projections for the supply and demand of key energy minerals, taking into account the latest policy and technology developments. This year's report also includes several areas of special focus: strategic minor minerals with applications beyond energy, nuclear supply chains and the role of Latin America in global mineral supply chains.
Knowledge Centre
Georgia’s Climate and Energy Planning: IRENA Report
Georgia, like many other countries, is increasingly recognising the importance of aligning its national climate and energy planning instruments to ensure effective implementation, avoid duplication of efforts and provide clear signals to investors and stakeholders. As governments simultaneously develop or update multiple plans, the challenge of ensuring consistency across different timelines, institutional mandates and modelling approaches has become more prominent.
Finance
Clean Power Delivers During July 2026 Heatwaves in the US
As extreme temperatures drove electricity demand to seasonal highs, wholesale power prices surged, and regional power systems relied heavily on expensive gas and coal peaking plants to maintain reliability. The grid was pushed to its limits in some areas, and nearly 400,000 households across the Midwest, Mid-Atlantic, and Northeast experienced power outages during some of the hottest hours of the year. Across the areas most affected by the heatwave, wind and solar generation increased during the highest-demand hours compared to the days before and after the event, providing electricity when it was needed most. Markets with higher levels of clean energy experienced substantially lower wholesale electricity prices, while regions with relatively little clean generation experienced the highest prices despite having tens of gigawatts of clean energy waiting to connect to the grid.
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This space is reserved for sponsored content and advertising banners. Sponsored content can include white papers, webinars, case studies, research reports and other relevant content. The advertising can be in the form of banners with links to the advertiser’s landing page. If you would like to promote sponsored content or advertise, please write to us at: marketing@reglobal.co