> ## 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 #38 - URL: https://newsletters.qs.com/energy-futures-38/ - Published: 2024-09-30T11:30:32.000Z - Updated: 2024-09-30T11:30:31.000Z - 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 **Happy Monday 👋** The IEA has set an ambitious goal to [triple](https://energycentral.com/news/iea-aims-triple-renewable-energy-capacity-2030%5C?ref=newsletters.qs.com) global renewable energy capacity by 2030, emphasizing the need for countries to enhance power grid infrastructure and streamline permitting processes. In the US, the Department of Energy allocated [$3B](https://www.energytech.com/energy-storage/article/55142212/does-3b-allocation-boosting-25-advanced-battery-storage-manufacturing-projects-throughout-us?ref=newsletters.qs.com) to support 25 projects aimed at boosting domestic manufacturing of advanced battery storage technologies. Meanwhile, OPEC's World Oil Outlook 2024 predicts that global oil demand will exceed [120 million barrels](https://www.hellenicshippingnews.com/opec-launches-woo-2024-and-sees-global-oil-demand-at-over-120-mb-d-in-2050/?ref=newsletters.qs.com) per day by 2050\. S&P Global [launched](https://www.prnewswire.com/news-releases/sp-global-commodity-insights-launches-worlds-first-daily-carbon-accounted-iron-ore-price-assessments-302258350.html?ref=newsletters.qs.com) the first daily carbon-accounted iron ore price assessments to monitor emissions in mining and transportation. Additionally, Masdar acquired the renewable energy platform Saeta for [$1.4B](https://www.prnewswire.com/news-releases/masdar-rachete-saeta-a-brookfield-pour-1-4-milliard-de-dollars-302257998.html?ref=newsletters.qs.com) from Brookfield. ## 🌅 New Energy **⚡ International Energy Agency (IEA) Sets Ambitious Goals to Triple Renewable Energy Capacity by 2030\.** The IEA stated that a global target of tripling renewable energy capacity by 2030 is [achievable](https://energycentral.com/news/iea-aims-triple-renewable-energy-capacity-2030%5C?ref=newsletters.qs.com). To reach this goal, countries must focus on expanding and upgrading their power grids and invest heavily in infrastructure development and permitting process improvements. **💸 Financial Institutions Back Nuclear Energy Expansion.** At Climate Week in New York City, 14 major financial institutions committed to supporting the tripling of global nuclear energy capacity [by 2050](https://energynews.pro/en/14-financial-institutions-support-nuclear-expansion-by-2050/?ref=newsletters.qs.com). **🏭 Poland's First Nuclear Power Plant.** Poland, a NATO member, announced a [$16B investment](https://www.newsweek.com/nato-member-announces-16-billion-investment-first-nuclear-power-plant-poland-1959135?ref=newsletters.qs.com) to build its first nuclear power plant, welcomed by Westinghouse Electric Company and Bechtel. ## 🔌 Utilities **🔋 DOE Boosts Battery Storage Manufacturing with $3B Funding.** The US Department of Energy allocated [$3B to support 25 projects](https://www.energytech.com/energy-storage/article/55142212/does-3b-allocation-boosting-25-advanced-battery-storage-manufacturing-projects-throughout-us?ref=newsletters.qs.com) to expand domestic manufacturing capabilities for advanced battery storage technologies. **đŸĒĢ Swedish battery giant Northvolt announces major layoffs.** Northvolt, a Swedish battery maker, announced that it would [lay off almost a quarter](https://www.euractiv.com/section/politics/news/swedish-battery-giant-announces-redundancies-amid-eu-electric-vehicles-industry-struggles/?ref=newsletters.qs.com) of its workforce due to struggles in the European electric vehicle industry. **🔌 EV Charging Companies Raise $14B in Funding.** Since the start of 2022, electric vehicle (EV) charging companies have raised [nearly $14B](https://evmarketsreports.com/charging-companies-raise-14-billion-since-2022-as-ev-infrastructure-expands/?ref=newsletters.qs.com) to expand the infrastructure needed to support the growing adoption of EV charging. ## â›Ŋ Oil & Gas **đŸ›ĸī¸ OPEC Forecasts Rising Global Oil Demand by 2050\.** OPEC, the Organization of the Petroleum Exporting Countries, released its World Oil Outlook 2024, projecting that global oil demand will surpass [120 million barrels per day](https://www.hellenicshippingnews.com/opec-launches-woo-2024-and-sees-global-oil-demand-at-over-120-mb-d-in-2050/?ref=newsletters.qs.com) by 2050. **â›Ŋ Namibia emerges as an Energy Hotspot with Massive Oil Reserves.** Recent exploration has uncovered [massive](https://oilprice.com/Energy/Energy-General/Oil-Majors-Flock-to-Namibia-as-Exploration-Reveals-Massive-Crude-Reserves.html?ref=newsletters.qs.com) crude oil reserves, attracting major oil companies to invest in the country's energy sector. Namibia is also attracting investments in green hydrogen production. **đŸ›ĸī¸ TotalEnergies' Suriname Offshore Project Drives $31B Oil & Gas Spend.** TotalEnergies' Block 58 development offshore Suriname will contribute significantly to a forecasted $31B offshore oil and gas expenditure for the rest of 2024\. The project will tap into an estimated [700M barrels](https://ogv.energy/news-item/totalenergies-block-58-project-key-to-us-31-billion-offshore-o-g-spend-forecast-westwood?ref=newsletters.qs.com) of recoverable resources. ## 💎 Mining and Metals **đŸĒ¨ S&P Global Launches First Carbon-Accounted Iron Ore Prices.** S&P Global Commodity Insights, part of S&P Global [launched](https://www.prnewswire.com/news-releases/sp-global-commodity-insights-launches-worlds-first-daily-carbon-accounted-iron-ore-price-assessments-302258350.html?ref=newsletters.qs.com) the world's first daily carbon-accounted iron ore price assessments to track emissions from mining and transportation. **🏭 UK's Last Coal Plant to Close After 60 Years.** Ratcliffe-on-Soar, the UK's last coal-fired power plant, is closing [after 60 years of operation](https://energycentral.com/news/part-family-uk-close-last-coal-fired-power-plant?ref=newsletters.qs.com), following the new Labour government's policy to phase out coal power generation. **🏗ī¸ Global Steel Production Declines in August 2024\.** The World Steel Association, an industry body, announced worldwide crude steel production in August 2024 [fell by 6.5%](https://www.hellenicshippingnews.com/world-steel-association-august-2024-crude-steel-production-down-6-5/?ref=newsletters.qs.com) YoY. ## **💰** Energy Deals **🚘 Masdar Buys Renewable Energy Platform Saeta for $1.4B.** Masdar, a renewable energy company, [acquired](https://www.prnewswire.com/news-releases/masdar-rachete-saeta-a-brookfield-pour-1-4-milliard-de-dollars-302257998.html?ref=newsletters.qs.com) Saeta, a renewable energy platform, from Brookfield for $1.4B. **⚡ Fourth Partner Energy Secures $275M for Renewable Energy Expansion.** Fourth Partner Energy, a renewable energy company, secured a [$275M](https://solarquarter.com/2024/09/23/fourth-partner-energy-raises-275-million-in-equity-from-ifc-adb-and-deg-consortium/?ref=newsletters.qs.com) equity investment from a consortium consisting of IFC, ADB, and DEG to support its expansion plans in the renewable energy sector. **🍃 Rare Earth Recycler Cyclic Materials Secures $53M Series B Funding.** Cyclic Materials, a Canadian company, raised [$53M](https://www.finsmes.com/2024/09/cyclic-materials-raises-usd-53m-in-series-b-funding.html?ref=newsletters.qs.com) in Series B funding to develop a circular supply chain for recycling rare earth elements (REEs). **💰 Google Ventures-led $40M funding for geothermal HVAC startup.** Dandelion Energy, a geothermal HVAC startup that originated from Google X, secured [$40M](https://www.citybiz.co/article/604575/dandelion-energy-closes-40m-series-c-funding-round/?ref=newsletters.qs.com) in funding led by Google Ventures. The company is now operating across the United States. đŸ’ĩ **David Energy Raises $23M to Power Grid with Clean Energy 24/7\.** David Energy, a grid tech company, raised [$23M](https://www.venturecapitaljournal.com/gridtech-company-david-energy-lands-23m/?ref=newsletters.qs.com) in funding to enable the power grid to run continuously on clean energy. 🔌 **Berlin EV Charging Startup Cariqa Raises $1.1M Pre-Seed.** Cariqa, a Berlin-based startup set to transform the electric vehicle charging landscape, announced the close of its [$1.1M](https://impactalpha.com/cariqa-lands-1-1-million-pre-seed-to-boost-ev-charging-efficiency-across-europe/?ref=newsletters.qs.com) pre-seed funding round. --- **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/)