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Canada will step up support to Ukraine's energy sector, working with industry to supply oil and gas equipment on favourable terms and boost renewable energy investments. Russia has targeted power stations, electricity transmission lines and gas facilities as part of its full-scale invasion of Ukraine. Russian strikes this week on Ukrainian power infrastructure left tens of thousands without power and heat. Ukraine and Canada agreed on a strategic energy partnership at a meeting in Paris, where Canada's government said it would work with industry to transfer oil and gas sector equipment to Ukraine on concessional terms, and promote investments in Ukraine's energy security. Canada will also alert domestic industries to opportunities to invest in Ukrainian renewable energy projects and reconstruction of hydropower plants, according to the published agreement. The deal, which includes sharing technical advice on developing infrastructure for non-Russian gas supplies to Ukraine, is not legally binding and planned investments would need to be followed up with companies.
The United Kingdom has reached crunch time on climate commitments, with nearly all 2030 energy transition targets now out of reach despite cutting emissions in half since 1990, according to Wood Mackenzie's 'United Kingdom Energy Transition Outlook 2025'. The analysis shows the UK must close a 12-percentage-point gap by 2030, requiring an additional £75 billion in accelerated investment this decade, while cumulative low-carbon spending needs will reach £1.5-2.1 trillion through 2060. A ban on North Sea exploration has locked in structural dependence on oil and gas imports, even as offshore wind deployment lags 20% behind government targets.
The UK and California will accelerate partnership on clean energy investment signing a new partnership to accelerate the global race for clean power and tackle the climate and nature crisis. The Memorandum of Understanding deepens decades of cooperation between the UK and California, and creates a refreshed framework to drive innovation, scale up clean energy technologies and connect businesses and researchers across both economies. This agreement will connect the UK’s fast-growing clean energy sector with the Californian market, opening up new export opportunities, supporting skilled jobs opportunities across the UK and backing British businesses to compete and grow. It also delivers a commitment to strengthen cooperation on clean energy, climate and the environment to speed up the rollout of technologies that cut bills for families, reduce exposure to volatile fossil fuel markets and protect the natural environment. The UK’s and California’s clean energy economies are growing rapidly, with the UK’s net zero economy growing three times faster than the overall UK economy in 2024 according to the CBI. Meanwhile, California saw similarly rapid clean economic growth, with three times more clean energy jobs being created than jobs created elsewhere in the state’s economy.
ndia’s FY2027 Union Budget marks a strategic shift in the country’s energy transition, moving from a primary focus on renewable deployment toward domestic manufacturing and industrial decarbonisation, according to new analysis from Wood Mackenzie. In FY2027, clean energy spending will rise 40% year-on-year to approximately US$5 billion. The budget prioritises carbon capture, battery storage, domestic manufacturing and critical mineral supply chains, signalling a more industrial policy-led approach to the energy transition. The India government has allocated US$2.2 billion over five years for carbon capture, utilisation and storage (CCUS), targeting emissions reductions across power generation, steel, cement, refining and chemicals. The scale of the allocation reflects growing policy focus on hard-to-abate sectors. To strengthen supply chain resilience, the government is backing the National Critical Mineral Mission with approximately US$4 billion. Amendments to the Mines and Minerals Act in September 2025 aim to accelerate domestic exploration, with more than 200 projects underway. India is also diversifying supply partnerships with Argentina, Australia and Chile. Funding for the National Green Hydrogen Mission remains unchanged at US$68 million after approximately 50% of FY2026 allocations went unutilised due to execution delays. Around 3 GW of electrolyser manufacturing capacity has been awarded under production-linked incentive schemes, with production expected to begin in FY2027.
The global transition to lower-carbon, more secure sources of energy is reshaping trade flows. Clean energy represented just 2.2% of total cross-border trade of goods in 2024, but that share is set to grow as the transition gathers momentum. Last year, investments into low-carbon assets reached a record $2.3 trillion, up 8% from 2024. To answer these and other questions, BloombergNEF has for the first time produced trade-flow projections through 2050 encompassing 28 geographies and 28 transition-influenced product categories, including electric vehicles (EVs), solar modules, batteries, and battery metals. Some key findings from BloombergNEF’s Trade Transition Scenarios: (1) The value of EV and battery trade surges to $880 billion by 2035 up from $234 billion in 2024, (2) Crude oil and its derived products drive most fossil-fuel trade flows, which hold steady at around $3 trillion until 2030, before entering a long period of decline through 2050, (3) Both the US and China are net importers of the energy goods studied in the report, China accounts for at least a third of global clean-energy exports through 2050 while as the energy system transitions the US fossil fuel exports plateau then gradually contract as clean–energy product imports rise. For its part, the EU’s energy-related trade deficit shrinks 29% by 2035.
France set out a new energy law after years of wrangling which slashes its wind and solar power targets and drops a mandate for state-run firm EDF to shutter nuclear plants. The new 10-year framework, known as the PPE, lowers France's 2035 target for installed offshore wind capacity to 15 GW from 18 GW the government had submitted for consultation in 2024. The target for onshore wind capacity drops to 35-40 GW from the 45 GW previously communicated. Solar capacity will be 55-80 GW by 2035, the report added, down from a previous forecast of 75-100 GW.
Ahead of the European Council meeting in Alden Biesen, the Antwerp Declaration Community – representing more than 1,300 companies, associations and trade unions across Europe – called on EU Heads of State and Government to take urgent and bold action to restore Europe’s industrial competitiveness, safeguard high-quality jobs for European workers, and turn the Clean Industrial Deal into outcomes felt on factory floors in 2026. The call was made at the European Industry Summit, which brought together over 500 business leaders, 30 factory workers, and European Commission President Ursula von der Leyen, under the auspices of Belgian Prime Minister Bart De Wever. Senior EU leaders also joined including German Chancellor Friedrich Merz, French President Emmanuel Macron and Dutch Prime Minister Dick Schoof, underscoring the political urgency of Europe’s industrial crisis. Community calls on EU leaders to ensure that the Alden Biesen meeting becomes the moment when Europe commits to bold, coordinated measures that restore industrial competitiveness, and secure high quality jobs for future generations with visible results in 2026.
As wind and solar installed capacity expands rapidly, the need for power system flexibility is becoming increasingly urgent. To meet this demand, China is strategically repositioning its coal fleet from being a baseload generator to a source of system flexibility. This report dives into the policy mechanisms supporting this shift. The analysis highlights that China’s coal fleet is on track to be fully retrofitted for flexibility by 2027, and the utilisation pattern of coal power is changing. As China enters the 15th Five-Year Plan (FYP), the final planning cycle before its 2030 carbon peaking target, its energy transition is in a decisive phase. This analysis finds that China is on track to make its entire coal fleet flexible by 2027. However, completing retrofits also implies that the physical flexibility reserve of existing coal capacity will be fully realised within the next two years. Clean technologies, particularly battery energy storage, provide significantly better technical performance in flexibility. If the deployment of clean flexibility fails to match the pace of renewable expansion, the system risks relying on additional coal capacity to fill the gap, increasing the risk of reduced efficiency and locking in emissions beyond 2030. China has installed nearly half of the world’s battery energy storage and has demonstrated strong recent growth, showing great potential in meeting its flexibility needs with non-fossil sources. Ongoing efforts to reform the power market and improve system operations are moving in a positive direction. Effective design and implementation will be critical to unlocking any remaining flexibility potential and maintaining system stability as renewable energy accelerates.
China's coal-fired power generation decreased 1.9% in 2025, marking a historic shift driven by new non-fossil generation that has finally outpaced demand growth, according to a recent report from Wood Mackenzie. Power demand grew 5% in China in 2025, or 494 TWh, yet for the first time in a decade, coal-fired power generation did not increase to help meet this demand. Instead, the incremental demand was met by carbon-free generation, with the rapid growth in renewables and constant development of nuclear and hydro capacity. Since 2015, the levelized costs of energy (LCOE) for utility solar and onshore wind have plummeted by 77% and 73%, making renewable energy competitive with fossil fuels. According to Wood Mackenzie, coal-fired power capacity factors were as high as 60% in 2011, then declined to 52% in 2024 and 48.2% in 2025. Wood Mackenzie expects the utilization to further decline to 32% by 2035 as portions of the fleet transition to reserve status. However, some uncertainty remains as to whether this trajectory will hold, mainly: potential surges in power demand growth, extreme weather scenarios, renewable investment growth and systems resilience concerns.
La administración de Estados Unidos está obstaculizando proyectos de energía solar y eólica en tierra firme, al detener o retrasar las aprobaciones federales que antes eran rutinarias. De momento, hay mas de 60 grandes parques eólicos y solares cuyo desarrollo se está viendo frustrado. Un exhaustivo artículo publicado en The New York Times afirma que las agencias federales están retrasando las aprobaciones de proyectos de energía renovable tanto en terrenos federales como en propiedades privadas, en un momento en el que la demanda de electricidad está aumentando. Y ello esta provocando que los promotores eólicos y solares se vean obligados a adaptarse a la nueva situación. Algunos lo hacen rediseñando los proyectos para evitar la necesidad de las aprobaciones federales, por ejemplo, reubicando donde instalar los parques. Pero otras empresas están dando un giro hacia los combustibles fósiles.
US Ambassador Jamieson Greer announced the enactment of the U.S.-Mexico Action Plan on Critical Minerals. Under this first-of-its-kind Action Plan, the United States and Mexico will work to develop coordinated trade policies and mechanisms that mitigate critical mineral supply chain vulnerabilities. This work will include identifying specific critical minerals of interest, exploring border-adjusted price floors for critical minerals imports, and consulting on how price floors may be incorporated in a binding plurilateral agreement on trade in critical minerals.
La Comisión Europea ha filtrado su propuesta de Reglamento sobre aceleración industrial y descarbonización de sectores estratégicos ("Industrial Accelerator Act"), que establecerá un marco común para el desarrollo del Clean Industrial Deal, modificando a su vez otras normativas vigentes. La propuesta responde a vulnerabilidades expuestas por recientes crisis globales que han evidenciado riesgos en cadenas de suministro críticas, dependencia tecnológica exterior y pérdida de capacidad industrial.
El Consejo de Ministros, a propuesta del Ministerio para la Transición Ecológica y el Reto Demográfico (MITECO), ha aprobado el II Plan de Acción de Economía Circular (PAEC) que, con una inversión total estimada de 1.884,89 millones de euros y 105 medidas, pone en marcha la Administración General del Estado (AGE) para acelerar el despliegue de un modelo económico circular y descarbonizado. Las 105 medidas del Plan, que implica a 12 ministerios y más de 40 unidades directivas, buscan alcanzar los objetivos establecidos en la Estrategia Española de Economía Circular para el año 2030 y son el resultado de la integración de iniciativas propuestas por el Consejo Asesor de Economía Circular (CAEC) así como de las aportaciones recibidas durante el proceso de participación pública. Las acciones planteadas por la AGE se estructuran conforme a los ejes y líneas estratégicas definidos en la Estrategia Española de Economía Circular, y que ya se aplicaron en el I Plan de Acción. En este sentido, las medidas se articulan en torno a cinco ejes de actuación y tres líneas transversales.
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More than 150 technology breakthroughs identified in a new IEA report, with energy security emerging as a leading driver of innovation. The world’s energy innovation landscape is entering a new phase shaped by energy security, industrial competitiveness and infrastructure resilience, according to the International Energy Agency’s latest State of Energy Innovation report. The second edition of the report finds that energy technologies now represent multi-trillion dollar global markets, with the energy sector increasingly becoming an innovation powerhouse spanning batteries, transformers, turbines, motors and heat exchangers. Around one in ten patents worldwide relates to energy underlining the sector’s central role in national security, industrial strategy and economic performance. The 2026 edition identifies over 150 major innovation highlights during the year, spanning solid-state air conditioning, perovskite solar cells, fusion energy, sodium-ion batteries and next-generation geothermal systems. At the same time, the policy context is shifting. In a survey of experts and practitioners, energy security emerged as the leading driver of innovation in 2025, ahead of affordability and emissions reduction. Energy storage has moved to the forefront of global innovation activity, highlighting its growing role in national security and power systems as the world enters the Age of Electricity. Batteries accounted for 40% of all energy patenting in 2023 and the proportion is expected to have risen further based on preliminary data for 2024 and 2025. The report notes that higher interest rates, macroeconomic uncertainty and strong competition from artificial intelligence ventures have weighed on energy capital flows. The share of global VC funding directed to AI rose to almost 30% in 2025, while energy’s share declined. According to the report, while priorities may shift, the case for sustained and strategic support for energy innovation remains strong. With energy innovation becoming increasingly foundational to modern economies, evidence shows it can deliver transformative economic and security benefits over decades.
Commission President von der Leyen has presented the collective efforts and next steps needed to boost Europe's competitiveness during various, in particular the Parliament Plenary session, the Antwerp European Industry Summit, and during discussions with leaders at their informal retreat in Alden Biesen, Belgium. She called on the Parliament and Member States to act with speed and resolve, notably by stepping up simplification efforts and adopting the seven remaining omnibus proposals the Commission put forward. At the Antwerp European Industry Summit, the President reiterated her call to step up efforts as global pressure mounts, leading to factory closures, job losses and growing vulnerability to overdependencies. This is why competitiveness has been at the top of the Commission's agenda from day one. To strengthen Europe's business case, the EU has more than doubled investment in industrial transitions while also simplifying the rules. To support these efforts and help reduce costs for European industry, President von der Leyen also recalled the importance of affordable and reliable energy, and of accelerating the clean transition, which is backed by clear data: in 2025, the average gas price in Europe was EUR 100 per MWh, compared to just EUR 34 per MWh for renewables and between EUR 50 and EUR 60 per MWh for nuclear energy, a clear evidence that decarbonisation and competitiveness go hand in hand.
Most analysts count energy from the perspective of the supplier, and that approach means the dramatic changes sweeping the energy system cannot be appreciated. Ember's report, sets out a different way to think about the energy system from the perspective of the consumer, and in simple terms. It turns out that there are four key battles for the future of energy and electrotech is clearly winning two of them, and is set to win the third states Ember. Standard energy models track supply rather than demand. They begin with the annual ‘primary’ energy supply and work backwards to calculate the ‘final’ energy sold to energy consumers. Fossil fuels are 80% of primary energy supply, and the easy narrative is that fossil fuels are dominant in the energy system and will remain so in the future as we consume more and more energy. However, this approach makes no allowance for quality, assigning equal value to one exajoule of primary coal and one exajoule of solar electricity, despite the fact that the solar produces three times as much final electricity as the coal. There are six improvements Ember suggests to help get better understanding of the energy system. They add in useful energy and start the analysis from the consumer perspective and add three steps to simplify the energy system into the two core horizontals of work and heat, focusing on change in demand.
El Gobierno central lanza el fondo España Crece, una iniciativa estratégica de colaboración público-privada que permitirá movilizar en torno a 120.000 millones de euros en inversiones para consolidar la actual etapa de crecimiento económico y la modernización del tejido productivo español. El fondo, que se pondrá en marcha en el segundo trimestre de este año, prolonga el impulso transformador de los fondos Next Generation EU más allá de 2026, año de finalización del Plan de Recuperación. El fondo España Crece será gestionado por el Instituto de Crédito Oficial (ICO), que recibirá 13.300 millones de euros, reforzando de forma estructural su capacidad como banco nacional de promoción. España Crece ofrecerá un amplio abanico de instrumentos financieros (préstamos, financiación de proyectos, inyecciones de capital, garantías) y facilitará que la financiación acompañe de forma continuada en las distintas etapas del ciclo de vida de las empresas, desde el nacimiento hasta su expansión. El fondo dará prioridad a ámbitos de especial relevancia para la economía española, como la transición verde, además de proyectos innovadores en ámbitos punteros.
APPA Renovables reclama la eliminación inmediata del Impuesto sobre el Valor de la Producción de Energía Eléctrica (IVPEE), conocido como el “impuesto del 7%”, al considerar que encarece el precio de la electricidad y dificulta la electrificación de consumos en hogares e industria, clave para integrar más generación renovable y desplazar combustibles fósiles. La asociación recuerda que el tributo se aprobó en la Ley 15/2012 en un contexto de déficit del sistema eléctrico que, según su planteamiento, ya no justifica su mantenimiento. El director general de APPA Renovables, sostiene que las renovables son el 25% del consumo global de energía, pero más del 55% de la electricidad, y que mantener un gravamen específico sobre la producción eléctrica va contra los objetivos de transición energética. En este sentido, la entidad apunta a la necesidad de trasladar el avance renovable del sistema eléctrico al conjunto de la economía. La asociación subraya además el efecto en el mercado ibérico (MIBEL) tras la eliminación del gravamen equivalente en Portugal, al entender que mantener en España un 7% adicional supone una desventaja fiscal en un mercado acoplado y puede distorsionar la competitividad de la generación nacional, incluida la renovable. APPA añade que durante la pandemia el IVPEE estuvo suspendido sin consecuencias reales y defiende su supresión definitiva.
US President Donald Trump framed his sweeping rollback of federal climate change policy as a political win over the Democratic Party's "radical" environmental agenda, reprising a message Republicans have used in past elections and could turn to once again ahead of November's crucial midterms. The president said he was revoking an Obama-era "endangerment finding" from 2009 which held that pollution harms public health and the environment. For almost 17 years, the US has used that scientific finding as the legal basis to establish policies to reduce emissions from cars, power plants and other sources of planet-warming gases. He said ending the endangerment finding would do away with an electric vehicle "mandate" put in place by his predecessor, former President Joe Biden. Under Biden, Congress passed a law to expand the nation's electric vehicle charging network and created tax incentives to lower the cost of EVs, but it did not include any provisions forcing buyers to purchase them. In recent years, climate policy in the US has swung wildly depending on who is occupying the White House. But the announcement represented the largest move yet by Trump to dismantle the climate policies put in place by his Democratic predecessors.
Las inversiones en tecnologías limpias en la Península Ibérica alcanzaron una cifra récord de 768,8 millones de euros en 2025, lo que representa un crecimiento interanual del 80%, según los datos recogidos por Cleantech for Iberia en su informe anual. La coalición para el desarrollo de las tecnologías limpias en la Península Ibérica, en la que participan organizaciones como BBVA o A&G, entre otras, con el impulso de Cleantech Group destaca que 2025 ha marcado un cambio estructural en el foco de la inversión, que ha pasado de la innovación al despliegue y ha confirmado la posición de Iberia como hub estratégico para las tecnologías limpias en Europa. En concreto, el pasado año, la inversión se concentró en un menor número de rondas, pero de mayor tamaño. Por sectores, los materiales y productos químicos representaron la mayor cuota de inversión, concentrando aproximadamente el 39% del capital total desplegado. A su vez, la industria residual y de reciclaje y la gestión medioambiental registraron un fuerte crecimiento, mientras que el sector energético perdió peso en términos relativos, pese a la continuidad de la actividad en hidrógeno, almacenamiento en baterías y electrificación de edificios. Mientras, los transportes y la logística consolidaron su posición como uno de los pilares industriales clave para el mercado ibérico.
El Lehendakari Imanol Pradales ha clausurado la segunda edición del Leaders Meeting – Fit for the Future, en un acto celebrado en el Palacio Euskalduna y que ha culminado con la firma de la ‘Declaración de Bilbao 2026’; un documento que constituye un posicionamiento político y estratégico de los 14 territorios industriales presentes en el foro y en el que se recogen los compromisos comunes en materia de competitividad industrial, innovación y tecnologías estratégicas. En un contexto marcado por la aceleración tecnológica, las tensiones geopolíticas y profundos cambios sociales, la ‘Declaración de Bilbao’ subraya la necesidad de reforzar la capacidad de Europa para generar prosperidad sostenible, competitividad industrial y autonomía estratégica. En este sentido, el texto suscrito refleja esa voluntad y ambición política y apunta la necesidad de una profunda revisión del funcionamiento institucional de la Unión Europea. Con todo, la Declaración de Bilbao articula una visión compartida sustentada en cuatro principios interdependientes: (1) Gobernanza multinivel como imperativo estratégico, (2) Competitividad, liderazgo industrial y resiliencia de las cadenas de valor, (3) Innovación, conocimiento y competencias para una sociedad inclusiva y (4) Sostenibilidad y transición verde. La Declaración señala que los próximos años serán determinantes para convertir las ambiciones europeas en resultados tangibles. En este sentido, reclama que el próximo Marco Financiero Plurianual posterior a 2027 reconozca plenamente el papel de las regiones como socios estratégicos en la agenda industrial y de innovación europea.
Private markets have raised $2.7 trillion for funds investing in energy over the past decade, according to BloombergNEF. Those dedicated to the transition away from fossil fuels have taken off more recently, with funds managing more than $10 billion leading the charge. These vehicles are emerging as a significant source of capital for the transition, delivering competitive returns and higher, stable cash payouts. Energy-exposed private market funds have boomed due to interest rates changes, portfolio diversification strategies and investor interest in the energy transition. With aggressive fundraising, these clean energy strategies now sit on about $92 billion of dry powder. Real assets – including infrastructure and natural resources – are the dominant asset class for private market energy. Dedicated transition funds can compete with broader infrastructure mandates on performance, but manager selection and timing influence outcomes. Their median return ranged from 7% to over 20% for funds established between 2015 and 2022.
According to the IEA's latest report, global electricity demand is forecast to increase at a brisk average annual rate of 3.6% over the 2026-2030 forecast period, supported by rising consumption from industry, electric vehicles, air conditioning and data centres. For the first time in three decades, excluding periods of crisis‑related disruption, global electricity demand outpaced economic growth in 2024 in what is set to become a broader trend in the coming years. Emerging economies continue to be the main pillar of demand growth, accounting for nearly 80% of additional electricity consumption through 2030. Total generation from renewables is overtaking coal, in line with previous IEA forecasts. With solar PV generating record amounts of electricity, renewable output rose rapidly in 2025, virtually matching the level of coal‑fired generation based on the latest available data. Renewable output is forecast to grow by about 1 000 terawatt-hours (TWh) annually through 2030, with solar PV alone accounting for over 600 TWh. In percentage terms, renewable generation is forecast to rise at an annual rate of 8% per year. The Age of Electricity requires a fast and efficient expansion of grids and system flexibility to securely and cost‑effectively integrate a changing mix of generation, demand and storage.
The global power sector is at a turning point in 2026. Electricity demand growth continues to accelerate driven by an electrification push across all sectors. Renewable energy capacity growth is expected to slow down for the first time since the technological boom in the early 2000s. Its growth reached a new record last year. However China's policy changes are expected to have a spillover effect into 2026 as less projects are forecast to enter operations in said country. Despite a slowdown in global installed capacity, renewable energy generation will continue to grow at a fast pace. Rystad Energy expects renewable energy generation to reach 11,900 TWh, overtaking coal as the largest source of generation. As renewables take center stage, energy storage is becoming indispensable and could help overcome some of the challenges being encountered by variable power generation. The coming year will see an expansion in the deployment of storage technologies, particularly of batteries. On the other hand, nuclear energy is experiencing a renaissance in 2026 , driven by concerns over energy security, decarbonization, and the limitations of renewables and storage alone. Global electricity demand growth in 2026 will exceed that of last year, as consumption from the commercial and transport sectors in mature markets accelerates, and industrial demand growth in emerging markets remains robust. Rystad Energy forecasts that global demand will reach close to 30,400 TWh in 2026 adding 1,100 TWh of new demand. The slowdown in renewable capacity commissioning signals a maturing industry, while the historic milestone of renewables surpassing coal in generation marks a new chapter in the energy transition.
El consejero de Industria, Transición Energética y Sostenibilidad del Gobierno Vasco, Mikel Jauregi, ha recordado que la industria vasca paga el precio de la energía más cara frente a otros países europeos con los que debe competir, como Francia o Alemania. Por este motivo, ha solicitado al gobierno español que active una política energética en favor de la industria, al igual que se aplica en otros países de Europa, para que se eliminen estas distorsiones que merman su competitividad. La Península Ibérica genera energía eléctrica a bajo coste, en comparación con otros países europeos, gracias a los recursos renovables abundantes, especialmente el sol y el viento. No obstante, el precio final que paga la industria es más alto en comparación con otros países europeos, debido a elementos ajenos al coste de generación como impuestos, peajes o el menor uso de exenciones. El consejero de Industria del Gobierno Vasco ha propuesto algunas medidas para simplificar la factura y reducir el coste final al que debe hacer frente la industria en el estado. Por un lado, medidas fiscales como la supresión del impuesto del 7% a la generación eléctrica. Por otro lado la exención de los peajes de Transporte & Distribución (T&D) del 80% para los consumidores electrointensivos. Por último, se reclaman medidas regulatorias como la maximización de las ayudas por los costes indirectos del CO2, en las que se podría destinar hasta un 25 % de los ingresos procedentes de las subastas de los derechos de emisión de gases de efecto invernadero para la compensación de los efectos de los costes indirectos por estas emisiones, ligadas al consumo de electricidad.
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