AGP Executive Report

Solar Breakthrough: Solar generated more electricity than coal in the U.S. for the first time in May, with solar at 12.8% of generation vs coal at 12.2%, a sign the shift is structural, not seasonal. Energy Storage Buildout: SSE is revising its Mullafarry BESS plan in Ireland to 80MW/320MWh (up to four hours), reflecting growing grid demand for firm, flexible power. Clean Power Momentum: Ember reports global renewables again outpaced coal in April, reinforcing a long-term decarbonization trend driven by wind and solar plus hydropower. Nuclear Policy Push: Tennessee became the first U.S. state to set fusion regulations, creating a licensing path for fusion machines under a byproduct-material framework. Tech + Power Jobs: Meta will train U.S. workers for data center construction via a $115M “America’s Workforce Academy,” starting in Indiana, Louisiana, Ohio and Texas. Geopolitics & Energy: A report claims Russia and China are building a parallel energy system to reduce reliance on Western-controlled payments and shipping, with “Power of Siberia 2” flagged as a major threat to U.S. LNG.

Geopolitics & Markets: The World Bank cut its global growth forecast to 2.5%, blaming the Iran war for energy-market disruption, higher oil prices, and inflation pressure. Central Banks: The ECB resumed rate hikes, lifting borrowing costs by 25 bps to 2.25% and warning energy-driven inflation risks could force more action in July. Household Impact: Ireland’s ESRI says energy price hikes hit low-income households harder, while support has been too “untargeted,” leaving vulnerable groups under-protected. Energy Security Partnerships: A new U.S.-Eastern Mediterranean “3+1” energy partnership launched in Houston (U.S., Greece, Cyprus, Israel) to boost energy security and innovation. Clean Power Pipeline: The Philippines’ BOI certified 13 renewable projects under its Green Lane, totaling PHP 346bn, with faster permitting. Grid & Manufacturing: Hitachi Energy plans a ₹2,000 crore transformer factory in Vadodara to speed delivery for transmission, HVDC, and AI data centers. Storage Deals: Fox ESS signed two 5GWh battery supply frameworks with Australian distributors OSW and Solar Juice. LNG & Sanctions: Reports say Russia and China are building a parallel energy system to bypass Western control, with Power of Siberia 2 and sanctioned LNG flows in focus.

Energy Delivery Focus: UN Deputy Secretary-General Amina Mohammed urged Africa to move from policy design to “delivery of scale,” warning that pilots often don’t become lasting impact and calling for digital transformation and green jobs. Grid-Scale Storage Push: CATL unveiled a large energy storage testbed aimed at station-level validation, as real-world performance gaps and grid-connection delays remain major hurdles. Offshore Wind Acceleration: GWEC’s 2026 report calls for an eight-point policy push to fast-track offshore wind, citing record 2025 grid connections and rapid growth forecasts. Battery Storage in PJM: Elevate and ArcLight started operations on Virginia’s 150MW/600MWh Prospect Power, positioned to boost reliability amid data center and AI-driven demand. Solar Overtakes Coal: Ember reports US solar generated more electricity than coal in May for the first time, despite federal coal support. Affordability & Politics: Massachusetts activists rallied for “people over profits” energy legislation, while US inflation data tied to higher energy prices keeps pressure on households and policymakers. Data Centers, Power, Water: ASHRAE/PNNL/NEMA released an AI data center energy performance framework as AWS disclosed it’s cutting freshwater withdrawals via recycled water and hotter operations. Geopolitics & Shipping: A Strait of Hormuz crisis explainer highlights why pipelines are back in focus for energy security.

Energy Security & Markets: Alberta is pitching itself as a reliable supplier at the 2026 Global Energy Show in Calgary, as global supply disruptions and geopolitics keep energy security front and center. EU Power Costs: Bulgaria approved an electricity compensation scheme for energy-intensive firms, using a 3x50-style support design tied to decarbonisation and efficiency investment. UK Bills Politics: The TUC urged an “emergency social tariff” to cut household energy bills, funded via a windfall tax on banks. Data Centres vs Cities: London’s data-centre boom is reigniting fights over grid capacity, housing delays and water use. Inflation Shock from Energy: US CPI hit 4.2% in May, with energy prices driving the jump and complicating Fed decisions; Canada held rates at 2.25% citing limited spillover. Clean Power Build-Out: India says floating solar potential tops 102 GWp and a dedicated scheme is coming. Grid & Storage Push: Macquarie flags India’s storage need as renewables expand, while Nevada issued a new energy policy executive order spanning gas, renewables and hydrogen. Tech for the Transition: Swiss startup zevvy launched a white-label billing platform for energy communities, aiming to remove a key barrier to distributed renewables. Critical Minerals Risk: DRC power shortages are threatening cobalt output stability, raising stakes for battery supply chains. Geopolitics on Energy Infrastructure: Ukraine carried out long-range strikes targeting Russian military and energy sites, adding to regional energy stress.

Oil & Inflation Shock: U.S.-Iran tensions flared again after a helicopter crash near the Strait of Hormuz, sending oil higher and pushing U.S. inflation to 4.2% in May as energy costs rose sharply. Market Mood: Asian shares slid after Wall Street’s tech sell-off, while investors weighed renewed geopolitical risk and higher-for-longer rates. Energy Security & Policy: South Africa’s fuels minister warned against fuel adulteration and called for more refining capacity to cut reliance on imported refined products. Renewables Buildout: Scotland’s onshore wind developers argue shifting post-2030 offshore plans to onshore could cut system costs by up to £5bn a year. Data Centres Go Green: Meta is partnering with Reliance to build a 168MW AI data centre in Jamnagar, while a UK proposal seeks planning approval for a “green” data centre campus in Larbert. Storage & Clean Power: Jinko ESS delivered 722MWh of BESS for an Indian renewables project, and SAEL commissioned a 14.9MW agri-waste-to-energy plant in Rajasthan. Energy Reform Watch: Venezuela Energy Week 2026 will focus on turning oil, gas and power reforms into investable execution pathways.

AI + Power Demand: Reliance and Meta are teaming up to build a 168 MW AI-enabled data centre in Jamnagar, with renewable power and desalinated seawater cooling—Meta will lease capacity and cover energy/water costs, underscoring how hyperscale AI is reshaping electricity demand. Corporate Clean Energy Deals: Meta and CleanMax also announced 837 MW of new solar-and-wind projects in Rajasthan and Karnataka (part of a 900 MW-plus push), with Meta buying 100% of environmental attributes. Grid + Charging Tech: Autel showcased grid-aware, fleet-focused EV charging in Sydney, while SLB and Qualcomm signed an MoU to bring edge AI closer to remote energy operations. Energy Security Shock: Oil markets stayed jumpy as Strait of Hormuz traffic signals improved supply but conflict risk remains; Japan’s wholesale inflation accelerated on energy-cost pressure. Transition vs Reliability: South Africa’s “gas cliff” threat is worrying industrial gas users as Sasol’s Mozambique supply limits approach. Policy + Industry Scale: Gujarat is preparing an “Ultra Mega Industries” category for projects of ₹10,000 crore+ to pull in big manufacturing investment. Clean Cooking Push: Tanzania’s Shinyanga plan targets 80% clean cooking adoption by 2034, focusing on value-chain and governance, not just enforcement.

Oil & Markets: Crude slid fast as hopes for a US-Iran pause deal eased Strait of Hormuz fears, dragging WTI below $88 and Brent lower. EU Clean Tech: The EU launched the €25B Trans-Mediterranean Renewable Energy and Clean Tech initiative (T-MED) to mobilize renewables, hydrogen and grid upgrades across the Mediterranean. Grid & Storage: EdgeMode struck a Spain BESS JV deal to capture solar overgeneration and cut outages and price spikes; TWAICE is supplying BESS analytics for BayWa r.e.’s 282 MWh Alfeld project in Germany. Smart Metering: Adani Energy Solutions agreed to buy IntelliSmart for ₹3,050 crore, expanding its smart meter footprint to 4.7 crore units. Utilities & Bills: Michigan’s AG says she’ll fight Consumers Energy’s proposed $456M annual rate hike. Corporate Moves: Veregy acquired JDC Energy Services to expand in the Northeast; Reliance scaled battery plans toward 100 GWh. Energy Security Diplomacy: Cyprus pushed regional energy cooperation at a Washington meeting, while Ukraine shared drone-tech readiness with Nordic and Baltic allies.

Grid & Power Policy: Ohio’s Supreme Court backed Duke Energy Ohio’s $29M gas rate increase tied to retiring aging propane storage caverns, a reminder that infrastructure upgrades keep showing up in bills. Data Centers & Energy Demand: AWS is proposing a ~$7B Indiana data center campus and says it will pay $1.25B to offset added electricity costs for ratepayers, while Scotland’s groups push a charter for renewable power, efficiency, water limits, and district-heat readiness for new data centers. Energy Storage & Solar Tech: EVE Energy says it secured 67GWh+ in SNEC energy storage orders, and a Colorado solar installer highlights how batteries are shifting from backup to integrated daily-use storage. Aviation Decarbonization: Technip Energies, Airbus, Safran and Tereos plan a large Alcohol-to-Jet SAF venture at Dunkirk targeting ~160,000 tons/year. Geopolitics & Oil Prices: Iran-Israel tensions flared again, lifting crude and keeping energy risk premium elevated. Renewables Finance & Resilience: The World Bank added $9M for the fuel-import-dependent Marshall Islands to blunt higher energy costs.

Energy Security & Trade: SONATRACH has broken ground on Algeria’s section of the Trans-Saharan Gas Pipeline, aiming to move Nigerian gas through Niger into Algeria and onward to Mediterranean export routes, with the full line targeting 20–30 bcm a year. Food Inputs Under Pressure: FAO warns the Strait of Hormuz is now a global food-security risk, pushing fertilizer and production shocks; it urges open trade in agricultural inputs and better fertilizer use. Oil Market Reality Check: Opec+’s latest quota hike highlights a widening gap between paper supply and what can actually reach customers as Hormuz disruption and other constraints bite. Refining & Resilience: Aramco says underinvestment in refineries is leaving a 3mn bpd deficit, arguing for more pipeline and domestic refining to keep refined products flowing. US Power Demand & Costs: AWS plans a major Indiana data center, with a $1.25bn payment to offset added electricity costs for local ratepayers. AI’s Resource Strain: A UN report warns AI data centers could consume 9.3tn litres of water annually by 2030, alongside major electricity demand. US Policy: The US Supreme Court struck down a Biden-era rule on furnace and water-heater efficiency standards, sending the case back for reconsideration. Solar Policy: Connecticut expanded its solar tax and tightened a property tax exemption for solar facilities. Clean Industry Push: India is rolling out a new biogas blending policy as LNG imports are cut, while its low-carbon industrial project pipeline grows to $433bn.

Geopolitics & Oil Prices: Strait of Hormuz tensions are widening the split in energy strategy, with crude jumping on renewed Israel-Iran and Lebanon strikes and markets bracing for more shipping disruption risk. Nuclear Power: Iran’s Bushehr plant again ranks among the world’s safest and most efficient nuclear facilities, underscoring nuclear as a strategic electricity backbone. Grid & Storage Buildout: Türkiye targets $20B+ in energy efficiency investment by 2030, while residential storage trends keep rising—Hoymiles and TÜV SÜD publish a 2026 white paper on safety, simplicity, and smarter home energy management. Clean Tech & Data Centers: AWS plans a major Indiana data center campus and will pay $1.25B to offset local power-cost impacts, as data-center energy use and cooling efficiency stay in the spotlight. Regional Power Trade: Sarawak Energy says ASEAN power exchange is moving from MoUs to megawatts, but needs grid readiness and regulatory clarity. Finance for Energy Security: The US DFC backs a $1.5B Indo-Pacific energy infrastructure platform focused on LNG and other security assets. Industry Watch: India’s battery PLI scheme faces a potential decision on Rajesh Exports after SEBI’s fraud-related order. Energy Transition Capital: Mirova plans two new funds—regenerative agriculture in Europe and energy transition in Asia—as oil and fertilizer shocks reshape investment priorities.

Data Centers’ Energy Strain: A UN University report says data centers already use 448 trillion watt-hours of electricity and could see water, energy use, and pollution double in four years as AI ramps up. South Africa Gas-to-Power: Eskom and Zululand Energy Terminal signed a Heads of Agreement to push LNG import, storage, and regasification—aimed at underpinning Eskom’s 3,000MW gas-to-power plan. Energy Security Policy Pushes: Bangladesh’s parliamentary committee urged 3-month strategic fuel reserves, diversified imports, and full digital monitoring of the fuel supply chain. India Reform Pressure: World Bank ED Neelkanth Mishra said India needs faster energy reforms and tougher pricing decisions to cut import dependence. Aviation Fuel Gap: IATA warned SAF output will stay far below net-zero needs—about 0.8% of aviation fuel in 2026—calling for better policy sequencing and open fuel infrastructure access. EV Battery Circularity: Waymo plans to repurpose retired EV batteries into clean energy storage for community grid projects via B2U Storage Solutions.

Community Benefit Rules: Oxfordshire County Council is consulting on an interim policy for large clean-energy projects (solar, wind, battery storage), pushing developers to make annual community payments and offer shared ownership so local areas don’t miss out. Grid & Affordability Pressure: In Nevada, protesters disrupted an NV Energy conference over soaring bills and a planned daily demand charge starting Jan. 1, 2027. Nuclear Milestone: The U.S. Energy Department says Antares’ advanced microreactor hit criticality at Idaho National Lab, a step toward electricity generation. Energy Market Politics: Kansas legislators asked FERC to protect competitive bidding for transmission projects after a southcentral Kansas line was assigned to Evergy without a formal bid. AI Power Demand: A new report highlights how Malaysia’s data-center boom is driving electricity growth while gas-fired generation surges, complicating clean-energy goals. Tech for Efficiency: Danfoss says a new digital hydraulic system for electric construction equipment can cut battery energy use by 35% and boost runtime by 50%+.

Industrial Decarbonization: Rathi Steel and Power ran hot charging of mild steel billets to its TMT bar mill, cutting reheating needs and fuel use while producing Fe 550D rebars with better seismic performance. Energy Storage Boom: Oman’s renewables push is getting a boost from new storage investment, while the Dominican grid is moving toward private battery energy storage to stabilize supply. Grid Flexibility in India: NTPC invited EOI for flexible thermal units that can run at low loads (25%) to balance rising renewables. AI Meets Power Limits: Bank of England Governor Andrew Bailey warned AI may need rationing as electricity supply can’t keep up, forcing “social choices” across sectors. Renewables Policy Push: Bhutan advanced a Renewable Energy Tax Exemption Bill to cut project costs and improve tariff competitiveness. Regional Energy Deals: India and Venezuela are deepening energy cooperation as Indian firms seek a bigger role in Venezuela’s oil and gas, with refinery visits and technology transfer on the agenda. Water-Tech Innovation: Scientists reported waste-free solar desalination that could reduce energy and brine impacts. Battery Projects: Saudi Arabia approved a 2.5GW grid BESS project, signaling scale-up for renewable reliability.

Supreme Court Power Ruling (India): India’s Railways must treat itself as a “consumer” for electricity procurement, shifting the cost burden for open-access clean power and pushing faster renewable contracting. Data Centers & Power Demand (Texas): Google and Intersect broke ground on the Meitner Energy Center in the Texas Panhandle, tying a new data center to new generation—another sign of AI-era load growth. Lithium Supply Push (U.S.): The DOE is funding $100M for U.S. lithium extraction innovation to strengthen battery mineral sourcing under IRA rules. Gas Prices & Iran (U.S.): Energy Secretary Chris Wright says lower pump prices depend on resolving Iran to increase oil flow through the Strait of Hormuz. Energy Affordability (Maryland): A new Maryland energy bill boosts grid upgrades and solar, but critics warn it cuts efficiency funding that helps keep bills down long term. Clean Energy Consumer Tools (Pakistan): Pakistan launched a consumer one-stop-shop to guide households and small businesses into solar and other renewables. Storage Innovation (Cyprus): Underwater compressed-air storage claims potential for major electricity bill reductions while boosting renewable use. Coal Politics (U.S.): Trump announced nearly $700M for coal investment, while Montana was left out of the plan.

Coal Revival Push: Trump announced a $700M plan to revive U.S. coal, including upgrades/restarts for 13 plants and support for new coal capacity, arguing it’s needed for AI data-center power—while critics say coal is costly and polluting. Grid & Rates Pressure: Duke Energy is seeking an 18% rate hike in North Carolina as customers warn data-center demand will make bills unaffordable; the decision now sits with the NC Utilities Commission. Energy Security & Shipping Risk: Strait of Hormuz disruption is reshaping energy security debates, with analysts pointing to the fragility of concentrated fossil fuel supply routes and the growing role of renewables plus storage. Oil & Gas Development: Empyrean Energy shares jumped after a binding contract for a jack-up rig to drill Indonesia’s Mako gas field. Clean Tech Hardware: Ingeteam launched a modular utility-scale BESS inverter; Waymo plans to reuse robotaxi batteries for grid storage. AI Governance: Anthropic urged the industry to build a “brake pedal” as AI moves toward faster self-improvement. Permitting Reform: Offshore permitting reform calls are growing as advocates push for more consistent, predictable approvals. Industry Partnerships: SFU teamed with Hanwha Ocean on Arctic tech, clean maritime energy, and advanced manufacturing.

Hydrogen Storage for Industry: Payal Industrial Park in Dahej, Gujarat, is partnering with Fourier to deploy hydrogen-powered long-duration storage, aiming to stretch backup from 12 hours to more than a week and keep renewables-backed power steady for factories. Long-Duration Batteries: HiTHIUM unveiled an 8-hour long-duration energy storage system at SNEC 2026, pushing longer backup as grids add more solar and wind. Energy Meets AI at ENERtec Asia: ENERtec Asia 2026 opened in Kuala Lumpur with a big focus on energy infrastructure for AI and data centres, spotlighting grid resilience and power supply readiness. India–Venezuela Energy Talks: India’s petroleum minister says a technical team will visit Venezuela to expand upstream and downstream cooperation, with Venezuela already a major crude supplier. RBI Holds Rates as Energy Costs Bite: India’s central bank kept the repo rate at 5.25%, citing West Asia-driven oil price pressure and rupee weakness. Coal Push in the US: Trump announced nearly $700m to support coal plants and exports, using defense-era powers to extend grid reliability. Grid Pressure from Data Centres: Duke Energy rate hikes face public pushback in North Carolina, with critics linking demand growth to data centres. Clean Power Finance: Inox Clean Energy is buying Vena Energy’s 6 GW renewables portfolio, while Origis Energy secured $75m financing for solar and storage projects. Saudi Stability Message: Saudi’s energy minister told SPIEF the world needs “every molecule” of energy and urged stabilization amid supply disruptions.