Core Insights - Suzlon Group has secured a 248.85MW wind energy order from ArcelorMittal as part of a 550MW hybrid project in Gujarat, India [1] - The wind energy generated will be used for captive consumption at ArcelorMittal Nippon steel facilities [1] - Suzlon will supply 79 S144 wind turbine generators, each with a rated capacity of 3.15MW [1] Company Developments - Suzlon has a presence in Gujarat with an installed capacity of 4.5GW and this new agreement marks its fourth wind order aimed at decarbonizing steel production in India [2] - The company's contribution to green steel capacity in India now totals approximately 1.16GW [2] - Over the past year, Suzlon has collaborated with various steel producers to facilitate the transition to low-carbon steel production [2] Industry Context - The vice-chairman of Suzlon highlighted the importance of steel in India's infrastructure and its energy-intensive nature [3] - As the steel sector moves towards decarbonization, renewable energy is becoming a competitive and viable contributor [4] - Suzlon is committed to this transition through partnerships and industry coalitions, such as the Indian Steel Green Council [4] Strategic Focus - The CEO of Suzlon stated that the project reflects the company's strategic focus on the EPC (engineering, procurement, and construction) segment, aiming to increase its share to 50% of the overall order book [5] - In September 2024, Suzlon secured a 1.17GW wind energy order from NTPC Green Energy in India, indicating ongoing growth in the sector [5]

Aluminium Industry Conference Call Summary Industry Overview - The aluminium industry is facing significant supply constraints, leading to potential deficits not seen in over 20 years, with a bullish outlook for prices in the medium to long term [4][5][20]. Key Points Price Forecasts and Investor Positioning - Aluminium prices have increased by 30% since June 2025, with a forecast of prices needing to sustain above US$3,500 per ton to incentivize the additional supply of over 10 million tons required by 2030 [4][9]. - Price scenarios include a bullish forecast of US$4,000 per ton and a bearish scenario of US$2,800 per ton [7]. Supply and Demand Dynamics - China's aluminium supply is no longer growing, with production growth expected to plateau by 2027 due to policy constraints and environmental regulations [26][35]. - Indonesia is emerging as a potential supplier, but its capacity growth is expected to be limited to approximately 0.7 million tons per year, which is insufficient to meet global demand [43][46]. - The market is projected to face significant deficits by 2027, necessitating higher prices or technological breakthroughs in scrap recovery to balance supply and demand [13][20]. Demand Drivers - Structural demand drivers for aluminium include power infrastructure, data centers, robotics, batteries, and solar energy [68][69]. - The rise of AI and data centers is expected to significantly increase power consumption, competing with aluminium smelting for energy resources [71][75]. - The production of humanoid and non-humanoid robots is projected to require substantial amounts of aluminium, lithium, and copper, further driving demand [76][83]. Investor Sentiment and Market Positioning - There has been a notable increase in speculative positioning in the LME aluminium market, reflecting investor confidence in a cyclical recovery in demand [9][10]. - Concerns regarding geopolitical uncertainties and potential economic shocks could present buying opportunities for investors [11]. Risks and Challenges - Downside risks include potential shocks from Japan's debt situation, geopolitical tensions, and a slowdown in global industrial activity [11]. - The aluminium market is less responsive to price increases compared to copper, which may lead to more pronounced deficits and stockout risks [8][23]. Secondary Supply and Recycling - Secondary aluminium supply growth is expected but will be insufficient at current price levels, with recovery rates needing to rise significantly to meet market demands [52][53]. - Historical data suggests that without strong price signals, breakthroughs in scrap recovery are unlikely [54]. Conclusion - The aluminium industry is at a critical juncture, with supply constraints and rising demand driven by technological advancements and decarbonization efforts. The outlook remains bullish, but significant risks and challenges must be navigated to achieve a balanced market.

Core Insights - The National Wealth Fund (NWF) aims to mobilize over £100bn ($137bn) for investment in the UK economy, targeting growth, job creation, and significant reductions in greenhouse gas emissions by 2050 [1][6] Investment Strategy - The NWF's strategy focuses on three main ambitions: unlocking clean energy growth opportunities, prioritizing decarbonization projects, and reducing costs for households and businesses [2] - The plan includes advancing place-based investments across all four UK nations and strengthening national security sectors such as defence, critical minerals, AI, and green steel [3] Sector Focus - Over the next five years, the NWF has identified ten key sectors for investment, including battery manufacturing, carbon capture, energy storage, hydrogen, nuclear, and transport infrastructure, with an expected allocation of £5.8bn [4] - Additionally, the fund will explore investment opportunities in 15 other sectors, such as semiconductors, quantum technologies, and sustainable aviation fuels, to fill market gaps and attract private capital [5] Economic Impact - The NWF has already committed one-third of its capital, mobilizing over £17bn in private investment and creating or supporting more than 70,000 jobs [6] - The strategy aims to deploy the remaining capital within five years to support government goals related to growth and clean energy while ensuring returns for taxpayers [7]

Core Viewpoint - Asahi Kasei, Mitsui Chemicals, and Mitsubishi Chemical are collaborating to decarbonise and optimise ethylene production in western Japan, supported by the Ministry of Economy, Trade and Industry's HtA Support Programme [1][5]. Group 1: Collaboration and Transition - The companies will establish a joint operating entity to manage ethylene production, leading to the closure of the AMEC facility at the Mizushima Plant by fiscal year 2030 [2]. - Operations will be consolidated at the Osaka Petrochemical Industries facility in Takaishi, Osaka [2]. - Equipment modifications will be made at OPC's Senboku Factory and other sites, with plans to dismantle AMEC's equipment and explore uses for the vacated site aligned with carbon neutrality [3]. Group 2: Investment and Technology - An investment of Y21.2 billion ($139 million) is allocated for the transition, including a subsidy application of up to Y10.4 billion [4]. - The investment will focus on transitioning ethylene production facilities and establishing an initial production facility using Asahi Kasei's Revolefin technology [4][6]. Group 3: Industry Impact - Ethylene production is crucial for the petrochemical industry, serving as a foundation for various products [5]. - The cooperative strategy aims to reduce greenhouse gas emissions by sharing technology and implementing carbon-neutral measures [5][7]. - The HtA Support Programme is expected to facilitate a transition towards competitive decarbonised basic chemicals, supporting market expansion and sustainable business models [7].

TotalEnergies has entered into an agreement to provide 800 gigawatt-hours (GWh) of renewable electricity over a ten-year period to SWM’s three plants in France. The contract will cover the Papeteries de Saint Girons, PDM Industries and LTR Industries sites. TotalEnergies will source the electricity from around 50MW of its operational renewable assets in France. TotalEnergies Flexible Power & Integration senior vice-president Sophie Chevalier said: “We are delighted to support SWM in its decarbonisation ...

Group 1 - Engie and Masdar have reached financial close for the 1.5GW Khazna Solar PV project in the UAE, which will be Engie's largest photovoltaic installation globally [1][2] - The project will supply electricity to approximately 160,000 homes and is expected to reduce carbon emissions by over 2.4 million tonnes annually [3] - Financing has been secured from a consortium of seven major banks, including Abu Dhabi Islamic Bank and Crédit Agricole Corporate and Investment Bank [2] Group 2 - The Khazna Solar PV project was awarded to Engie and Masdar by the Emirates Water and Electricity Company (EWEC) under a 30-year power purchase agreement [2] - Engie aims to achieve a carbon-neutral economy by 2045 and is significantly investing in renewable energy initiatives [4] - The partnership with LONGi and PowerChina aims to develop large-scale solar projects totaling over 800MW across Saudi Arabia, the UAE, and Morocco [4]

Core Insights - Enery has initiated the Ogrezeni hybrid renewable energy project in Romania, which is one of the largest of its kind in Europe, combining photovoltaic generation with battery storage [1][3] - The project aims to provide green electricity to approximately 684,000 households and reduce CO₂e emissions by around 303,000 tonnes annually, with energisation expected in summer 2027 [2][3] Project Details - The Ogrezeni project will have an installed capacity of 761 megawatt-peak (MWp) / 534 megawatt (MW) alternating current and over one gigawatt-hour of battery storage [1] - The project is supported by a €460 million ($534.1 million) project finance loan agreement with a syndicate of eight commercial banks, coordinated by UniCredit [5] - Approximately 350 jobs will be created during construction, with local resources utilized for operations and maintenance post-commissioning [5] Strategic Importance - The project is a significant addition to Enery's Romanian portfolio and will contribute to Romania's decarbonisation and energy security goals by introducing large-scale renewable capacity with stable prices [3][4] - Enery's co-founders emphasized that the project reflects their strategy of combining robust development with deep local participation, creating long-term value for partners and local communities [4]

Core Insights - NORD/LB, Rabobank, and Siemens Bank have announced a €135 million ($160 million) financing package for a portfolio of three wind and two solar farms in Aragón, Spain [1] - The projects, acquired by ENCAVIS, are either operational or expected to be online within the first three months of the year [1] - The financing structure includes a €117 million term facility, a €5 million debt service reserve facility, and a €13 million LC facility [1] Project Details - The portfolio consists of three wind farms with 24 Nordex turbines and two solar farms featuring 98,000 bifacial ground-mounted solar panels [1] - Once fully operational, the portfolio is expected to generate 467 GWh of clean electricity annually [1] Strategic Importance - The financing supports Spain's renewable energy transition, aligning with the National Integrated Energy and Climate Plan (PNIEC) which aims for 62 GW of wind power and 76 GW of solar power by 2030 [1] - The collaboration among the banks and ENCAVIS highlights a strong partnership and confidence in ENCAVIS' business model and risk management [1] Roles of Financial Institutions - NORD/LB served as Mandated Lead Arranger, Hedging Bank, and L/C Bank [2] - Rabobank acted as Mandated Lead Arranger, Hedging Bank, Security & Facility Agent, and L/C Bank [2] - Siemens Bank also served as Mandated Lead Arranger [2]

Core Viewpoint - Danish shipping company Maersk is exploring the increased use of ethanol as a fuel to reduce dependence on China and enhance the industry's decarbonisation efforts [1] Group 1: Company Initiatives - Maersk is considering ethanol as a fuel alternative, which aligns with its sustainability goals [1] - The shift towards ethanol could potentially decrease reliance on Chinese suppliers for fuel [1] Group 2: Industry Impact - The adoption of ethanol fuel by Maersk may contribute to broader decarbonisation efforts within the shipping industry [1] - This move could set a precedent for other companies in the industry to follow suit in reducing carbon emissions [1]

Core Insights - The global wind energy market is entering its strongest growth phase, driven by national decarbonisation targets, energy security needs, and long-term industrial strategies, with aggregate installations expected to reach 934.6 GW by 2030 [3] Market Overview - The report provides a comprehensive analysis of the wind turbine market value and capacity for historical (2020–2024) and forecast (2025–2030) periods, including country-wise drivers and restraints [1][2] - Key policies and regulations, market share for 2024, and major upcoming projects and contracts for each country are detailed [2] Regional Analysis - The Asia-Pacific (APAC) region leads the global wind turbine market, accounting for the largest share of annual installations, driven by China's extensive development, India's growing manufacturing, and emerging projects in Japan and Australia [4] - Europe, the Middle East, and Africa (EMEA) represent the second-largest market, with Europe benefiting from binding climate mandates and a strong offshore wind trajectory [5] - The Americas rank as the third-largest market, with the US leading due to the Inflation Reduction Act stimulating clean energy manufacturing and offshore wind supply chain development [5][7] - The Middle East and North Africa are advancing utility-scale renewable energy projects through government-backed initiatives, while Sub-Saharan Africa is gradually unlocking wind projects with international financing [6]