AGP Executive Report

Nuclear Push: India’s PM Modi says the country will operationalise five new nuclear reactors this decade and target 100 GW of nuclear capacity, citing the new SHANTI Act as the framework for energy security. Grid & Market Moves: Nigeria’s NGX postponed revised equities pricing rules just before a Monday start date, saying the rollout is delayed—not cancelled—and will be communicated later. Solar Income Boom (UK): Octopus Energy says UK households have earned nearly £100m selling surplus solar back to the grid over the past year, with 400,000+ homes on export tariffs. Renewables + Storage (Egypt): Egypt reviewed a 3.1GW integrated renewables project in South Sinai combining solar plants with pumped-storage hydropower. Corporate Expansion (India): Shera Energy targets 25–30% FY27 revenue growth on capacity expansion and new products, while Agastya Energy plans a Rs 7,800 crore expansion into 12 GW ingot and wafer manufacturing. Policy Watch (China): China’s NDRC-backed plan aims for closed-loop recycling of waste from EVs, lithium batteries and PV systems by 2030.

AI Data Centers & Power Deals: Nvidia is reportedly in talks to invest up to $3B in SB Energy’s Ohio data-center campus for OpenAI, with the plan split between signing and SB Energy’s IPO—another sign that power infrastructure is becoming central to AI expansion. Grid Reliability & Prices: Australia’s renewables and batteries are pushing wholesale prices to multi-year lows, but energy chiefs warn the system is still precariously balanced as coal retirements accelerate. Oil & Gas Security: Niger signed a deal for a 100,000 bpd refinery under a build-operate-transfer plan, aiming to move beyond crude exports toward regional product supply. LPG Supply Buffer: India set maximum LPG production targets for refineries and upstream firms to build a domestic buffer and cut shortage risk during import disruptions. EV Charging Hardware: Chinese firm Feyree showcased portable EV chargers and app-controlled wallboxes at Zhenwei and Dubai’s energy exhibitions, targeting Middle East and MENA procurement demand. Electricity Theft & Losses: Manila Electric Co. says it’s pairing grid upgrades with tougher anti-theft enforcement to reduce system losses that feed into customer bills. Regional Gas Linkages: Trinidad and Tobago could benefit from new Venezuelan gas licenses, potentially adding pipeline gas to support LNG operations.

Energy Security & Politics: Japan’s protest over Putin’s Kuril Islands visit highlights how hard it is for Tokyo to fully sanction Russia’s Sakhalin-2 LNG, especially after Strait of Hormuz disruptions have made Gulf oil access less reliable. LNG Debate: New Zealand’s LNG vs renewables fight is getting sharper as Labour argues modelling shows LNG isn’t needed for dry-year power risk, pushing more geothermal, wind/solar, storage and thermal backup instead. Power Projects: Saudi Energy signed an agreement to supply electricity for Expo 2030 Riyadh, underscoring continued investment in grid infrastructure for major national events. Grid Reliability & Markets: ERCOT hit a new peak load of 91.1 GW amid Texas heat, while Kuwait’s Action Energy discussed strong onshore drilling fundamentals and GCC rig demand through 2030. Clean Tech Funding: Form Energy secured $750m to expand its iron-air battery factory in West Virginia, aiming for multi-day storage. Renewables Growth: Iran’s renewable capacity reportedly surged past 5,800 MW, even amid sanctions and infrastructure attacks. Policy & Efficiency: Saint Lucia proposed a five-year VAT zero-rate for solar and related equipment to cut costs and boost adoption. Energy Justice: A Kansas SNAP overhaul is driving a sharp enrollment drop, with advocates citing added paperwork burdens and delayed benefits. Heat & Infrastructure: Morocco is testing permeable “sponge” pavement in parts of Marrakech and Agadir to cool streets and manage stormwater.

Nuclear Push: India’s PM Modi used Independence Day to set a 100 GW nuclear target by 2047 and said five new reactors are planned to start this decade, pointing to the SHANTI Act and the Prototype Fast Breeder Reactor reaching criticality. Energy Security & Shipping Risk: Modi also warned that weaponisation of resources and sea routes—amid Strait of Hormuz disruptions—could raise fuel and freight costs, urging energy self-reliance and diversification. Clean-Energy Industrialization: Pakistan is rolling out an “E-Cluster” approach to localize clean-energy manufacturing, starting with CKD assembly and moving toward deeper domestic supply chains. Grid & Storage Buildout: A new 1,200 MWh battery storage project in California is set to support 385,000 homes, highlighting the scale-up of grid flexibility. Power Outage Response: Nevada’s Bug and Stallion Fires saw containment improve and power restored to all impacted customers. Market/Policy Watch: Montana’s PSC fight over NorthWestern Energy merger pause continues as regulators and courts clash over leadership and ratepayer impacts. Energy Finance: Kolibri Global Energy reported record Q2 revenue of $22.5M, with production up 46% and net income up 197%.

Energy Security & Geopolitics: Iran-linked strikes and countermeasures are again hitting energy nerves, with new satellite imagery showing damage to US- and US-linked Gulf sites and Canada announcing sanctions tied to Strait of Hormuz activity. Grid & Cleanup Governance: The U.S. DOE is whittling down the Hanford Advisory Board, shifting from group representation to individuals as the nation’s largest cleanup site heads into a new engagement model. Domestic Energy Policy & Finance: The SBA unveiled a 90% loan guarantee for small businesses across the energy supply chain, aiming to unlock private capital for grid modernization and energy production. Power, Industry & Trade: A new push to reshore copper processing for AI demand highlights a “refining poor” bottleneck, while Project Tundra in North Dakota moves forward under a new lead developer to capture up to 5 million tons of CO2 annually. Efficiency & Infrastructure: Port of Salalah cut energy intensity per container unit while boosting throughput, and Olmsted County installed solar panels on public buildings to reduce long-term operating costs.

Waste-to-Energy Debate: In Metro Manila, environmental groups are pushing back on President Ferdinand Marcos Jr.’s renewed push for waste-to-energy incineration, arguing it wrongly links garbage and flooding and should instead prioritize drainage, waterways, and flood-control infrastructure. Data Centers & Water Use: Amazon’s Wallula Gap data center plan in Washington raises local questions about water and power impacts, even as the company says it will rely mostly on air cooling and use water only during the hottest months. Nuclear Expansion: China approved eight more reactors, reinforcing its rapid nuclear buildout and adding pressure on the uranium fuel-cycle market. EV Charging Interoperability: Pulse Energy says it has connected 10,000 EV chargers to India’s Unified Bharat eCharge network, enabling UPI payments via the BHIM app. Grid Planning in the U.S.: The Northwest Power and Conservation Council released a draft Ninth Power Plan warning that data centers, electrification, and extreme weather could drive demand beyond prior expectations. Industrial Decarbonization: India’s Industrial Transition Accelerator selected 11 clean-industry projects, including Jindal Steel’s CCUS work, targeting billions in investment and large annual carbon abatement.

Grid & Rates: North Carolina AG Jeff Jackson says Duke Energy Progress residential customers face about a 9.3% increase (not 6.8%) and is refusing to sign a settlement, setting up a key decision by the state Utilities Commission. Policy & Power Market Reform: New Jersey’s BPU warns PJM’s capacity market can’t deliver reliable power at lowest cost and calls for reforms as bills jumped about 20% last year. Data Centers & Electricity Costs: Ontario unveiled a new data-centre framework that makes large new sites cover all electricity costs, with higher rates and no cash incentives—aimed at protecting households while supporting AI growth. Energy Grants Blocked: A report says the U.S. Department of Energy is blocking billions in grid-fixing grants, leaving reliability and affordability projects in limbo. Climate & Reliability Stress: Europe’s heat and drought are forcing nuclear shutdowns and exposing grid vulnerabilities, while a “green realpolitik” shift slows the pace of transition. Efficiency in the Real World: Old Dutch Foods opened a fossil-free, energy-efficient warehouse in PEI using solar plus geothermal heating/cooling and energy-recovery ventilation.

Biofuels Circularity: FatHopes Energy and PetroVietnam Oil (PVOIL) are teaming up to build Vietnam’s first nationwide used cooking oil collection network, starting in Ho Chi Minh City and scaling via about 1,000 PVOIL petrol stations to feed certified SAF and other advanced biofuels. Grid & Storage Push: Romania’s PV is helping cover daytime gaps during drought and heat, but the country still needs faster investment in energy storage and grid upgrades. Regional Power Trade: Azerbaijan, Georgia, Türkiye and Bulgaria are negotiating an overland electricity transit corridor, positioning Georgia as a regional hub for exports into Europe. Nuclear Fuel Demand: UK uranium processor Urenco says orders are rising as generators respond to growing electricity demand from data centres and AI, alongside renewed reactor restarts. Energy Finance: Inox Clean Energy secured Rs 1,500 crore private credit from Motilal Oswal Alternates to fund expansion and acquisitions, following a prior Rs 700 crore investment. Oil Security: New Zealand granted a 10-year onshore Taranaki mining permit to Matahio NZ Onshore to boost domestic gas supply. Data Centres & Power: China’s Inner Mongolia hub is expanding “green computing” with wind/solar-backed power, storage, and waste-heat recovery for low-carbon data centre growth.

LNG Expansion Under “Energy Emergency”: Plaquemines LNG near New Orleans is seeking a multi-billion-dollar expansion after the U.S. Army Corps fast-tracked review under a Trump “national energy emergency,” cutting public comment to 10 days and raising concerns about dredging and wetland impacts. Grid & Interconnection Push: Turkey is advancing a new electricity corridor to link Saudi Arabia with Turkey via Jordan and Syria, with plans to expand regional power trade and support electricity shortages in Lebanon. Utility Ownership Moves: Bernhard Capital Partners completed its acquisition of New Mexico Gas Company from Emera, keeping the regulated utility’s Albuquerque base and management team. Energy Efficiency Grants: Pennsylvania’s DEP awarded $347,490 to Standard Bent Glass to replace kilns, targeting lower energy use and emissions. Renewables Policy in Focus: Malaysia’s National Energy Awards 2026 highlighted RM48.82M in annual energy-cost savings and nearly 10M tonnes of CO2 reductions, while Egypt targets renewables to reach 45% of electricity by 2028. Onsite Power for AI: Bloom Energy continues to market fuel-cell power for AI data centers as investors face fresh class-action filings.

UK Grid Relief: The government unveiled a first wave of 43 transmission projects for its bills discount scheme, with households within 500 metres set to receive up to £2,500 off electricity bills over 10 years starting in the first half of next year. Renewables Policy: NSW’s energy minister admitted mistakes in the slow rollout of renewable energy zones after an Aboriginal heritage rock shelter was destroyed during transmission works, while pushing to speed up projects. Grid & Cost Pressure: Arizona earned a C in the 2026 ASCE infrastructure report, with energy among the categories rated “adequate” but strained by aging assets and extreme weather. Hydrogen Push: China says it aims for major hydrogen breakthroughs over the next five years, citing rapid growth in renewable hydrogen capacity and refueling infrastructure. Solar & Finance: Saatvik Green Energy’s unit won a ₹400.16 crore order for solar PV modules, to be executed by March 2027. Energy Security & Trade: Azerbaijan is positioning itself as an electricity producer, receiver, transmitter and exporter to build a regional power hub. Local Energy Funding: Philippines rules let LGUs use 20% of development funds for eligible energy projects during the national energy emergency.

Battery Storage & Shipping Electrification: Corvus Energy will supply 40 MWh of battery systems for BC Ferries’ four Summit-class hybrid-electric vessels, enabling near-zero emissions for up to two hours once shore charging is ready. Grid & EV Charging Buildout: The U.S. has 72,514 public DC fast-charging ports (as of May 1, 2026), and the surge is forcing utilities and planners to rethink how new charging load hits distribution networks. Data Centers & Power/Water Rules: Texas says major tech firms including Meta and OpenAI will comply with new data center standards that require companies to fund grid infrastructure and reuse water. Energy Efficiency Policy: Malaysia extended its National Energy Efficiency Action Plan through 2035, targeting an 11.6% demand cut and about $21.5B in savings. Renewables Finance & Regional Coordination: ASEAN leaders are pushing for stronger cross-border cooperation to close a roughly $200B annual energy-transition investment gap through measures like the ASEAN Power Grid. Local Utility Governance: Clearwater, Florida approved a 30-year deal with Duke Energy after weighing a switch to a city-run utility against property-tax referendum risk. Clean Energy in Practice: Oracle and Arable say a new New Mexico water-conservation program tied to Project Jupiter will save about 21 million gallons a year. Hydrogen Mobility Milestone: Andy Green set a new hydrogen land-speed record at Bonneville using a car with two hydrogen internal combustion engines.

Energy Efficiency Policy: Malaysia launched NEEAP 2.0 (2026–2035), targeting RM85.24B in utility savings, cutting energy demand by 11.6% and avoiding 26.1M tonnes CO₂e, building on the 2024 Energy Efficiency and Conservation Act. Renewables + Storage Growth: Philippines’ ACEN reported a 411% jump in H1 2026 net income to ₱3.9B, driven by stronger renewables sales and progress on battery storage (about 775MW/1,660MWh). Grid + Market Rules: Spain’s regulator updated daily and intraday electricity market operating rules, including 96 intraday negotiation rounds, plus changes to flexible access permits for demand. Offshore + LNG Deals: ONGC and Shell Energy India signed an MoU to explore deepwater blocks and LNG sourcing under India’s Open Acreage Licensing Policy. Regional Oil Logistics: Tanzania and Uganda agreed with Vitol to develop Tanga Port as a regional energy hub, with potential storage investment above $20B. Geopolitics and Supply Risk: Iran says it won’t reopen the Strait of Hormuz until the US meets its conditions, keeping pressure on global energy security. Energy Security + Cyber: CERT Polska said a Polish CHP plant was breached via a private mobile network, disrupting steam and water systems before operators restored service.

Grid & Data Centers: Virginia regulators ordered Dominion Energy to “directly assign” transmission costs to data centers and other large-load customers, aiming to stop residential ratepayers from subsidizing grid upgrades. Energy Security & Shipping: The U.S. extended a 90-day Jones Act waiver for foreign ships carrying energy and agriculture-linked commodities, signaling continued concern as the Strait of Hormuz remains effectively constrained. Clean Industry Subsidies: The European Commission approved Denmark’s €84 million support scheme to expand manufacturing capacity for strategic clean technologies under the EU’s Clean Industrial Pact. Power Demand & Cooling: New York City is studying whether excess subway heat can be captured to warm nearby municipal buildings, targeting lower energy costs and a more resilient system. Renewables Policy & Land Rules: Democrats warned a Trump proposal could expand foreign-farmland reporting to cover renewable projects and pipeline corridors, raising new compliance burdens for energy developers. Nuclear Partnerships: Saudi Arabia’s nuclear buildout will likely hinge on foreign partners (Russia or China), with early choices shaping long-term rules and operating culture.

Nuclear Buildout Watch: Small modular reactors are projected to supply about one-quarter of new global nuclear capacity by 2050, as data centers and electrification drive demand for firm power. Geopolitics & Energy Security: South Korea and the US plan major joint military drills next week, underscoring how regional threats keep energy and infrastructure planning in the spotlight. US-Backed Critical Minerals: Sunrise Energy Metals surged 16% after a conditional $400M U.S. War Department loan commitment to expand its New South Wales scandium project. Long-Duration Storage Push: China’s HiTHIUM opened a long-duration energy storage industrial park in Shandong, aiming for end-to-end manufacturing and lower production energy use. Grid-Scale Demand Growth: New Zealand’s Contact Energy reported a record FY26 profit and is exploring a 250MW data centre development with CDC in Taranaki. Oil & Gas Logistics: ADNOC Gas is considering a new 4 mtpa LNG export facility in Fujairah to reduce reliance on Strait of Hormuz shipping routes. Policy for Supply Resilience: Pakistan is moving to open petroleum storage to foreign suppliers via customs-bonded facilities, letting them sell locally or re-export.

Energy Storage Push: The U.S. DOE launched the $500,000 STEP Prize to help novel storage designs move from lab prototypes to manufacturable products at scale. Grid & Power Prices: New Zealand’s electricity is getting pricier, with a “Power Play” investigation tracing how policy and consent processes shaped the market. Oil Supply Risk: A new analysis warns Europe’s next energy crisis may come from gradual peak oil production, not a sudden war—leaving the EU exposed if it doesn’t accelerate clean energy at home. Middle East Shipping Tensions: Iran says the Strait of Hormuz won’t reopen without U.S. compensation and other conditions, keeping a key energy chokepoint in limbo. Renewables Under Pressure: Tamil Nadu solar projects totaling nearly 4,000 MW were flagged as affected by corruption, with the state suspending projects and requiring new approvals. Utilities & Regulation: Virginia Gov. Abigail Spanberger moved to intervene in the proposed Dominion–NextEra merger, arguing it could raise costs and reshape a state-regulated utility. Clean Energy Diplomacy: Oman is leaning on its diplomatic strengths to unlock cross-border investment for lower-carbon hydrogen and renewables.

Middle East Security & Energy Risk: Saudi Arabia, Türkiye and Pakistan signed the Mecca Joint Defence Agreement, treating attacks on any member as threats to all—an escalation that comes as Iran-US tensions keep pressure on Gulf shipping and Strait of Hormuz energy flows. Strait of Hormuz Standoff: Iran says reopening the waterway depends on the US ending its naval blockade, withdrawing forces and providing compensation, while Washington seeks a workable commercial navigation deal. India Solar Supply Chain: India is preparing a production-linked incentive scheme to grow domestic polysilicon output (currently fully imported from China), aiming to build an integrated solar manufacturing ecosystem. LNG Diversification: Pacific Energy says Middle East buyers are seeking Canadian LNG cargoes as a hedge against geopolitical chokepoints. Grid Stress From Heat: South Korea hit its highest electricity demand of the year amid a prolonged heat wave, with reserves and supply measures in place. Cyprus Gas to Europe: Cyprus’ Cronos field is set to feed European markets from March 2028 via a pipeline to Egypt’s Zohr and LNG processing. Data Centers & Power Rules: New Zealand’s energy minister says hyperscale data centres should “underwrite” new renewable generation to avoid pushing up household bills. UK Solar Carports: Wiltshire Council approved solar canopies over leisure-centre parking, adding rooftop-style generation to public infrastructure.