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The world’s largest pumped hydro energy storage facility is nearing completion in China. The megaproject will bring China one step closer to its goal of being the world’s first and preeminent electrostate, and will advance the nascent but rapidly growing long-duration energy storage sector. The storage project being built at the Lianghekou Dam in Western Sichuan plateau will have four units of 300 megawatts (MW) each when completed, making it the largest facility of its kind. The project will house a conventional hydropower plant in…
Rolls-Royce has laid out plans to return billions to investors over the next two years after the blue-chip giant’s profit rocketed, leading to an upgrade of targets. The aerospace titan revealed plans for a £7bn to £9bn multi-year share buyback from 2026 to 2028, which comes as the firm wraps up a £1bn buyback from the last 12 months. Up to £2.5bn of the buyback is set to be delivered in 2026. The FTSE 100 darling also declared a final dividend of 5p a share, taking the total for the year to 9.5p, meaning around 32…
Americans spend close to half a trillion dollars per year on electricity. The electric industry spends over a quarter trillion dollars a year on a capital program to replace old plants and add new ones to enable it to serve new demand. The industry and its customers have conflicting feelings about big capital spending. On the one hand, the spending should assure better service (good for consumers) and increase the rate base (good for utility investors). On the other hand, the spending will surely raise prices because the new plant and equipment…
The surge in electricity demand in the world’s AI hotspots has prompted a comparable surge in the demand for reliable supply. That surge was not expected. There are not enough gas turbines to secure that supply. This means the AI revolution would either have to slow down, or the grid would have to increase its reliance on coal. Natural gas has in recent years been marketed as a so-called bridge fuel between coal and oil, on the one hand, and wind and solar, on the other. When it became clear that “bridge” is in fact its own country…
Previously, we reported that the U.S. Shale Patch has witnessed a big slump in corporate buyouts in recent years as premium acreage depletes and volatile energy prices keep buyers on the sidelines. Following a record $192 billion in mergers and acquisitions announced in 2023 and $105 billion in 2024, U.S. upstream oil and gas M&A activity totaled just $65 billion in 2025, despite a late-year rebound with $23.5 billion in deals announced in the fourth quarter. However, the situation could not be more stark in America’s neighbor to the…
