Wind turbine issues will cost Siemens Energy 2.2 billion eurosSiemens Energy said problems recently discovered at its wind turbine Siemens Gamesa division would cost it 2.2 billion euros. Due to the new set of problems at Siemens Gamesa, the division’s market value has dropped by…
Eleventh Japanese nuclear reactor resumes operationOn 28 July, unit 1 of the Takahama nuclear power plant was restarted after more than 12 years. Kansai Electric Power Company plans to return the 780 MWe pressurised water reactor to commercial operation at the end of…
G20 countries fail to reach agreement on cutting fossil fuelsThe Group of 20 (G20) major economies failed to reach consensus in India on phasing down fossil fuels following objections by some producer nations. The G20 member countries together account for over three-quarters of…
Slovakia’s industrial emissions dropped by 20% due to high energy pricesIndustrial emissions dropped by 20% in Slovakia in 2022, which can be largely attributed to high energy prices following Russia’s invasion of Ukraine. According to an expert from the Slovak Hydrometeorological Institute,…
Fully European fuel for VVER pressurised water reactorsThe European Union is co-funding the Accelerated Program for Implementation of Secure VVER Fuel Supply (APIS project) with EUR10 million from its Euratom programme. The APIS project aim is to develop and deliver a "fully…
Indian refineries start yuan payments for Russian oilWestern sanctions over Russia's invasion to Ukraine have changed global trade flows for the Russian top export product. India has become one of the biggest importers of Russian oil. For a long time, the U.S. dollar has…
Georgia could potentially supply energy to EuropeThe German state-owned investment and development bank, the Kreditanstalt für Wiederaufbau (KfW), is one of the main players pushing the plan to import green electricity from Georgia. To enable Georgia generate more…
Russia plans to build a series of floating nuclear power plantsThe Russian state nuclear power company Rosatom plans to build a fleet of floating nuclear power plants using RITM-200M reactors derived from those installed on the latest icebreakers. Rosatom has signed a framework…
CO2 emissions from energy production in the EU territory dropped slightly in 2022Eurostat estimates that carbon dioxide (CO2) emissions from fossil fuel combustion for energy production in the EU territory reached almost 2.4 Gigatons (Gt) in 2022, which represents a decrease of 2.8% in comparison to…
OPEC+ countries extend a deal to cut production into 2024OPEC+, comprised of the Organization of the Petroleum Exporting Countries and allies led by Russia, has agreed to extend the deal to cut oil production until the end of 2024. The deal put in place cuts of 3.66 million…
Solar power investment expected to overtake oil for the first timeThis year, global investment in solar power is expected to overtake investment in oil exploration and extraction for the first time ever, the International Energy Agency (IEA) has said. The IEA expects investment in…
Talks to revise the Energy Taxation Directive advancing very slowlyIn 2003, the Council Directive 2003/96/EC was adopted, restructuring the Community framework for the taxation of energy products and electricity. The directive was necessary in order for the EU’s single market to…
