> ## Content Index
> Fetch the complete content index at: https://newsletters.qs.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# 🌞 Energy Futures #35
- URL: https://newsletters.qs.com/energy-futures-35/
- Published: 2024-09-09T11:30:23.000Z
- Updated: 2024-09-09T11:30:22.000Z
- Description: HolonIQ's Energy Newsletter dives into the latest developments in new energy, utilities, oil and gas, mining, and metals, and highlights the week's top energy deals.
- Author: QS
- Tags: Green Skills

[*HolonIQ's*](https://www.holoniq.com/?ref=newsletters.qs.com) *energy futures coverage for the week ahead.*

*Our Climate Tech coverage has grown significantly, and due to popular demand, we're splitting it into weekly Energy Futures, Enviro Futures, Infra Futures, and Mobility Futures newsletters over the coming weeks.* 

*This newsletter is 'Energy Futures,' and you can update your subscriptions to any of the other weekly newsletters* [*here*](https://newsletters.qs.com/)*.*

*Questions we'll look to address in Energy Futures include those around global elections and what they mean for energy markets, how far and when is peak demand for fossil fuels, the roadmap for energy transition and supply chain risks for critical minerals, among others.*

**Happy Monday 👋** 

Global solar manufacturing capacity reached 1.2TW this week, with [592GW](https://pv-magazine-usa.com/2024/09/03/global-solar-manufacturing-reaches-1-2-tw-said-bloomberg-nef/?ref=newsletters.qs.com) of new installations projected for 2024, a 33% increase from last year. In Australia, an international consortium and a major Korean utility are collaborating to develop a [50 GW renewable energy hub](https://www.pv-magazine-australia.com/2024/09/03/international-players-progress-plans-for-massive-wa-green-energy-hub/?ref=newsletters.qs.com) for green hydrogen production in Western Australia. Swedish startup Enerpoly is building the [world’s first](https://energycentral.com/news/swedish-startup-bets-big-zinc-ion-batteries-worlds-first-megaplant?ref=newsletters.qs.com) mega plant for zinc-ion batteries near Stockholm, aiming for 100MWh capacity by 2026\. [Rising windfall taxes](https://ogv.energy/news-item/rising-windfall-taxes-could-slash-uk-oil-and-gas-investments-by-11-8-billion-oeuk-report-reveals?ref=newsletters.qs.com) in the UK could cut $14.75B in investments and impact the economy by $16.24B. The US and Peru have signed an MoU to strengthen cooperation on [critical minerals](https://www.mining.com/web/us-peru-sign-memorandum-of-understanding-for-cooperation-on-critical-minerals/?ref=newsletters.qs.com). First Citizens Bank also provided [$145M](https://www.prnewswire.com/news-releases/first-citizens-bank-arranges-145-million-in-financing-for-linea-energy-302237010.html?ref=newsletters.qs.com) in financing for Linea Energy.

## 🌅 New Energy   

**☀️ Global Solar Manufacturing Capacity Reaches 1.2 TW.** According to Bloomberg NEF's 3Q 2024 global market outlook, global solar manufacturing capacity reached [1.2 TW](https://pv-magazine-usa.com/2024/09/03/global-solar-manufacturing-reaches-1-2-tw-said-bloomberg-nef/?ref=newsletters.qs.com), and the world is projected to install 592 GW of solar power in 2024, a 33% increase from the previous year.

**🌎 Massive Green Energy Hub Planned in Australia.** An international consortium is partnering with a major Korean utility to develop a massive [50 GW](https://www.pv-magazine-australia.com/2024/09/03/international-players-progress-plans-for-massive-wa-green-energy-hub/?ref=newsletters.qs.com) renewable energy hub in Western Australia for green hydrogen production.

**⚛️ UK Leads Race to Develop Nuclear Fusion Power.** The UK government launched the STEP program to build the world's prototype [nuclear fusion power reactor](https://interestingengineering.com/energy/uk-nuclear-fusion-energy-step-program?ref=newsletters.qs.com) and support the development of future fusion power plants globally.

## 🔌 Utilities  

**⚡️ Swedish startup builds world's first zinc-ion battery megaplant.** A Swedish startup, Enerpoly, is building the world's first mega plant for producing [zinc-ion batteries](https://energycentral.com/news/swedish-startup-bets-big-zinc-ion-batteries-worlds-first-megaplant?ref=newsletters.qs.com) near Stockholm, with plans to reach 100MWh production capacity by 2026\. 

**🔋 Major Battery Projects Funded to Power Australian Homes.** The Australian government has selected six large battery storage projects for funding, providing power to around [a million homes](https://www.pv-magazine-australia.com/2024/09/04/six-big-batteries-score-federal-funding-to-power-a-million-homes-from-2027/?ref=newsletters.qs.com) from 2027 onwards.

**⚡ Revolutionary Waterless Hydro Energy Storage System Unveiled.** A new R19 [Waterless hydro energy storage system](https://energycentral.com/news/new-revolutionary-r19-waterless-hydro-energy-storage-unveiled?ref=newsletters.qs.com) has been unveiled. It aims to transform renewable energy storage using a high-density slurry instead of water reservoirs.

## ⛽ Oil & Gas   

**⚠️ Rising Windfall Taxes Threaten UK Oil and Gas Investments.** A trade body report reveals that increased windfall taxes on the UK's offshore oil and gas industries could lead to a [$14.75B](https://ogv.energy/news-item/rising-windfall-taxes-could-slash-uk-oil-and-gas-investments-by-11-8-billion-oeuk-report-reveals?ref=newsletters.qs.com) cut in investments over the next five years and cost the economy around $16.24B.

**💡 Egypt Faces Power Crisis as Domestic Gas Output Plunges**. Egypt's domestic gas production has[ dropped significantly](https://gulfbusiness.com/egypt-seeksfunds-to-buy-gas-amid-power-crunch/?ref=newsletters.qs.com), leading to a power crisis. Egypt is now counting on foreign funds to buy gas.

**⛽ Iraq Seeks US Investment in Gas Exploration.** During Oil Minister Hayan Abdul-Ghani's visit to the United States, Iraq announced that it would offer [10 gas exploration blocks](https://www.worldenergynews.com/news/iraq-wants-gas-investment-part-new-energy-752023?ref=newsletters.qs.com) to US firms.

## 💎 Mining and Metals  

**⛏️ US and Peru Strengthen Ties on Critical Mineral Cooperation.** The [US and Peru](https://www.mining.com/web/us-peru-sign-memorandum-of-understanding-for-cooperation-on-critical-minerals/?ref=newsletters.qs.com) signed a MoU to cooperate on critical minerals, setting the stage for collaboration on this sector's governance, investment, and supply chain security.

**⚡ Lithium Battery Oversupply Persists Despite Energy Storage Demand.** Clean Energy Associates (CEA) predicts that oversupply and low prices of lithium batteries will persist [until 2028](https://energycentral.com/news/lithium-battery-oversupply-low-prices-seen-through-2028-despite-energy-storage-boom-cea?ref=newsletters.qs.com) despite the growing demand for energy storage solutions.

**🌱 Korea Zinc to Develop Eco-Friendly Nickel Sulfate Technology.** Korea Zinc will start developing technology to manufacture eco-friendly [high-purity nickel sulfate](https://www.mk.co.kr/en/business/11109521?ref=newsletters.qs.com) in cooperation with domestic and foreign industries, academia, and research institutes.

## **💰** Energy Deals  

**💰 First Citizens Bank Provides $145M Financing for Linea Energy.** First Citizens Bank's Energy Finance business served as lead arranger for [$145M](https://www.prnewswire.com/news-releases/first-citizens-bank-arranges-145-million-in-financing-for-linea-energy-302237010.html?ref=newsletters.qs.com) in financing for Linea Energy.

**💰 Geothermal Energy Firm Secures Major Funding.** Baseload Capital, a geothermal energy developer, secured [$56.7M](https://renews.biz/95476/geothermal-developer-closes-53m-funding-round/?ref=newsletters.qs.com) in funding from Ingka Investments' ENGF.

**🌞 Q Energy France Secures $47.1M Financing for Floating Solar Plant.** Q Energy France, a company in the energy sector, secured [$47.1M](https://www.greenunivers.com/2024/09/q-energy-france-reussit-un-premier-grand-financement-dans-le-solaire-flottant-364641/?ref=newsletters.qs.com) in senior debt financing for its large floating solar power plant project in Haute-Marne, France.

**💰 Inox Wind Raises $42.4M to Expand Wind Energy Business.** Inox Wind, a leading wind energy company, announced a [$42.4M](https://energycentral.com/news/inox-wind-announce-fund-raise-rs-350-cr-resco-global?ref=newsletters.qs.com) fundraising from marquee investors in exchange for a single-digit stake. The funds will be used to scale up its business offerings and capitalize on India's growing wind energy market.

**⚛️ Nuclear Power Startup Last Energy Raises $40M in Series B.** Last Energy, a Washington, DC-based developer of micro-modular nuclear power plants, raised [$40M](https://www.esgtoday.com/micro-nuclear-power-plant-startup-last-energy-raises-40-million-to-decarbonize-heavy-industry-and-data-centers/?ref=newsletters.qs.com) in its Series B funding round.

**☀️ Texas Private Equity Firm Acquires Vermont's Largest Solar Companies.** A Texas-based private equity firm [acquired](https://www.wcax.com/2024/09/03/isun-suncommon-purchased-by-texas-private-equity-firm/?ref=newsletters.qs.com) iSun and SunCommon, Vermont's two largest solar companies.

---

**Thank you for reading. Have a great week ahead!**  
Have some feedback or suggestions? Let us know at hello@holoniq.com

[ ](https://newsletters.qs.com/psychedelic-mental-health-treatments-south-asia-health-tech-100-2/)