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☆ Investments in updating the electrical grid is entering a new phase of growth, which could benefit one stock in particular
▼ + stars: | 2023-07-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The effort to upgrade the U.S. power grid is heating up rapidly, according to UBS, which says the trend could be a driver for Quanta Services stock. Analyst Steven Fisher wrote in a Monday note that "electric grid investment is entering a new phase of growth, with renewables activity accelerating and large transmission projects gaining momentum." Fisher attributed the growth of these large scale projects to the IRA, which contained about $350 billion in funds for investments into renewable energy and updating the power grid. "For Quanta, we believe the implications of this new phase include potentially faster top-line growth, higher margins and increasing scope on projects," Fisher said. In addition to large transmission projects already planned, Fisher updated the list to include Oregon Public Utility Commission's Boardman to Hemmingway as well as Colorado's Power Pathway and Ready Wyoming .

Persons: Steven Fisher, Fisher, Boardman, Michael Bloom Organizations: UBS, Biden Locations: Oregon, Hemmingway, Wyoming

☆ Column: Europe's surging solar sector set for cannibalization risk
▼ + stars: | 2023-07-10 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

However, the rapid growth in solar supply capacity throughout Europe's electricity grids is already starting to erode producer profitability, as surplus power from solar sites depresses wholesale electricity prices and results in utilities earning shrinking revenues from renewables. However, since Russia's invasion of Ukraine snarled Europe's gas markets in 2022, Europe's power generators have accelerated the build-out of renewable energy capacity while cutting back on electricity generation from fossil fuels. However, those strong earnings may start to become harder to generate as additional volumes of solar capacity are brought online and compete with all other forms of generation to set wholesale electricity prices. California’s ‘Duck Curve’ electricity marketsEuropean solar power producers are not yet faced with anything like the problems seen in California, where solar can account for 40% of total electricity generation. But as more solar supply capacity gets added to Europe's generation system, solar producers must expect the extra competition from other solar sources to drive electricity prices lower for all electricity generators.

Persons: Gavin Maguire, Lisa Shumaker Organizations: Reuters, Thomson Locations: Europe, Ukraine, California, Germany

☆ Bank of America ups price target on this little-known Inflation Reduction Act beneficiary
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Bank of America sees more upside in store for this little-known beneficiary of reshoring trends and the Inflation Reduction Act. Analyst Ruplu Bhattacharya upped the bank's price target on shares of Flex Ltd. to $31 from $28, citing its 15-year partnership to make microinverters for Enphase Energy . The analyst also highlighted the company's long-term business mix and improving margins as contributing factors to the price hike. FLEX YTD mountain Shares in 2023 "FLEX should continue to benefit from the Inflation Reduction Act (IRA) which can help spur demand for clean energy and reshoring manufacturing back to the US. Inverters are included in FLEX's core renewables business which is part of its industrial segment," he wrote in a Friday note to clients.

Persons: Ruplu Bhattacharya, Bhattacharya, — CNBC's Michael Bloom Organizations: of America, Flex Ltd, Enphase Energy

☆ Activist Starboard prepares the groundwork to reduce leverage and build value at Algonquin Power
▼ + stars: | 2023-07-08 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Algonquin Power is a renewable energy and utility company that provides energy and water solutions and services in North America and internationally. Algonquin Power is a utility company based in Canada with most of its assets in the United States. Instead, the acquisition would have added to an already over-leveraged balance sheet, putting Algonquin Power in an even less stable financial position. So, companies like Algonquin Power will close facilities and retire equipment and build new facilities and buy new equipment that can be added back into the rate base. Algonquin Power is a holding in the fund.

Persons: Arun Banskota, Ken Squire, Squire Organizations: Algonquin Power, Algonquin Power's, Kentucky Power, Federal Energy Regulatory, JPMorgan, 13D, Algonquin Locations: Algonquin, North America, Canada, United States, EBITDA

But OPEC ministers and executives from oil companies told a two-day conference in Vienna governments needed to turn their attention from supply to demand. But record profits from oil and gas last year and relatively low returns from renewable energy prompted some investors to demand companies renew their focus on oil and gas to raise profits. DEMAND HITS RECORDMeanwhile, oil demand has reached new peaks of above 102 million barrels per day this year, recovering from a dip during the COVID-19 pandemic. It is expected to rise further, driven by strong demand from Asia and for petrochemical production, oil executives and analysts said. The oil industry has long said lower investment in oil and gas in the absence of a reduction in oil demand will only lead to higher prices.

Persons: Bernard Looney, Wael Sawan, Abu, Sultan al Jaber, Patrick Pouyanne, Jean Paul Prates, Prates, Amin Nasser, Dmitry Zhdannikov, Barbara Lewis Organizations: BP, of, Petroleum, Reuters, Bloomberg, Wall Street, Companies, Shell, BBC, Investments, Rystad Energy, Petrobras, PETR4, Saudi Aramco, Thomson Locations: Vienna, VIENNA, Ukraine, Asia, Abu Dhabi

☆ America’s Green Skills Gap Raises Concerns About Energy Transition
▼ + stars: | 2023-07-06 | by ( Dieter Holger | ) www.wsj.com time to read: +7 min

But recent data shows strong growth in demand for green skills exacerbating an already tight market where demand outstrips supply. The online professional network defines green skills as those that make economic activities more environmentally sustainable, such as carbon accounting, hydrogen engineering and battery manufacturing. It considers green jobs to be ones which include climate action objectives such as removing pollution and preserving natural resources. Likewise, more than 114,000 U.S. clean energy jobs were created in 2022, according to last week’s annual employment report from the U.S. Department of Energy. As of 2023, nearly 11% of U.S. transport workers, such as employees of carmakers, have green skills, according to LinkedIn.

Persons: ”, Sue Duke, Kenneth Gillingham, ” Gillingham, Tim Gruber, Gillingham, Sara Smiley Smith, Steven Cohen, Cohen, Todd Anderson, Rochelle Toplensky, Dieter Holger Organizations: U.S, LinkedIn, Wall Street, U.S . Department of Energy, Political Economy Research, University of Massachusetts Amherst, American Clean Power Association, Sustainable Business, Yale School of, Workers, Nobles, Environment, Yale, Columbia, Science, Sustainability Management, The Wall, dieter.holger Locations: U.S, Reading, Minn, Woodbine , Georgia

☆ India's Adani Green to raise $1.5 bln in green energy push
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - India's Adani Green Energy (ADNA.NS), controlled by billionaire Gautam Adani,said on Thursday it approved raising 123 billion rupees ($1.49 billion) through qualified institutional placement. The renewables company will use the funds to diversify its green energy supply in the country, Bloomberg had reported earlier in the day, citing sources familiar with the matter. The company plans to expand its green energy capacity by about 3 gigawatts this fiscal year, spending around 140 billion rupees ($1.70 billion), its finance chief Phuntsok Wangyal had said in May. In May, two other Adani group companies - Adani Transmission (ADAI.NS) and Adani Enterprise (ADEL.NS) - outlined plans to raise up to $2.57 billion after a U.S. short-seller's critical report in January battered investor confidence. Adani Energy's shares alone have halved in value so far this year.

Persons: Gautam Adani, Phuntsok Wangyal, Hindenburg, Adani, Adani Energy's, Indranil Sarkar, Urvi, Nivedita Bhattacharjee, Eileen Soreng, Savio D'Souza Organizations: Energy, Bloomberg, Adani, Thomson Locations: Bengaluru

☆ Duke Energy to sell distributed generation portfolio in $364 million deal
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

July 5 (Reuters) - Utility firm Duke Energy (DUK.N) said on Wednesday it would sell its commercial distributed generation business to private equity firm ArcLight Capital Partners in a $364 million deal. The business includes operating assets of REC Solar, which Duke had acquired in 2015, development pipeline and operations and maintenance portfolio, as well as distributed fuel cell projects managed by Bloom Energy (BE.N). Duke said it expects about $259 million of proceeds from this sale, which the company would use to help incorporate more than 30,000 megawatts of regulated renewable energy into its system by 2035. Electric utilities in the United States are streamlining their operations to shift away from fossil fuels toward cleaner energy sources, including solar and wind, to meet climate goals. "The sale of commercial renewables businesses streamlines our portfolio and provides the resources to support our growing regulated territories," said Duke President and CEO Lynn Good.

Persons: Duke, Lynn Good, Tanay, Shilpi Majumdar Organizations: Duke Energy, ArcLight Capital Partners, REC, Bloom Energy, Electric, Duke, Thomson Locations: United States, Bengaluru

☆ Column: German electricity generation still stunted despite lower prices
▼ + stars: | 2023-07-05 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

Germany January-June electricity generationBut unless power prices undergo a significant further and persistent decline, total German energy consumption - and output - may remain depressed and cause enduring economic harm. Despite persistently lower prices, German total electricity generation was 247 terawatt hours (TWh) in the first half, 12.4% lower than the 282 TWh generated over the same period in 2022. This shows the deep impact on total electricity consumption from sustained cuts to power use by certain production lines and smokestack plants. For German energy producers, subsidies are available to build renewable supply capacity from solar and wind sites, which can help lift total electricity supply relatively quickly and help end users decarbonise. And without further steep, sustained reductions in power costs in coming months, many of these businesses may risk permanent contractions or closure even though power costs have already retreated sharply from last year's peaks.

Persons: Gavin Maguire, David Gregorio Our Organizations: Reuters, Thomson Locations: Ukraine, Europe, Germany

☆ There's a lot of talk about hydrogen's potential. But transportation costs represent a big challenge
▼ + stars: | 2023-07-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

In the world of business, multinationals from Iberdrola to Siemens Energy are also looking to make plays in green hydrogen. The DOE adds that more research is required to "analyze the trade-offs between the hydrogen production options and the hydrogen delivery options when considered together as a system." "You produce the hydrogen, the green hydrogen, and then you would synthesize it into ammonia with nitrogen," he said. Despite some clearly big obstacles, partnerships and programs related to the supply and distribution of green hydrogen are starting to take shape. Elsewhere, German firm Enertrag says it's been "operating a tanker and transport trailer to deliver large quantities of green hydrogen to customers" since 2021.

Persons: Angel Garcia, Olaf Scholz, Murray Douglas, Wood Mackenzie, Douglas, Wood Mackenzie's Douglas, —, Jorgo Chatzimarkakis, Chatzimarkakis, Enertrag, it's, Cepsa Organizations: Bloomberg, Getty, Siemens Energy, International Energy Agency, CNBC, U.S . Department of Energy, DOE, Octopus Energy, Port Locations: Spain, German, Australia, North Africa, Madrid, Rotterdam, Europe

It also defies protests from a minority of activist investors who want oil companies to be more closely aligned with global efforts to mitigate climate change. An oil and gas price rally driven by energy producer Russia's invasion of Ukraine translated into record profits for the energy majors. That has increased confidence in the most costly, high-risk offshore exploration that can also deliver the highest rewards. Wood Mackenzie analysts predict a continued increase in activity, forecasting offshore exploration and drilling activity to grow by 20% by 2025. Wood Mackenzie meanwhile predicts the commitment of up to $185 billion to develop 27 billion barrels of oil reserves, with international oil companies focused on the higher-cost, higher-return deepwater developments.

Persons: Olivier Le Peuch, Baker Hughes, Wood Mackenzie, Leslie Cook, TotalEnergies, Yujnovich, QatarEnergy, Shell, Graff, La Rona, Ron Bousso, Barbara Lewis Organizations: Shell, BP, SLB, Reuters, International Energy Agency, Barclays, West Africa –, Nambia's Petroleum, Thomson Locations: Namibia, Ukraine, Gulf of Mexico, South America, West Africa, NAMIBIA, Canada

LONDON, June 30 (Reuters) - Shell's (SHEL.L) head of renewable generation Thomas Brostrom is leaving the company, a spokesperson said on Friday, weeks after CEO Wael Sawan scaled back the company's energy transition plans. "Thomas Brostrøm has elected to leave Shell to pursue an external opportunity," the company said. He will be succeeded by Greg Joiner, currently VP Shell Energy Australia. Sawan also introduced a new structure to the company's top leadership that eliminated Brostrom's role and split it into regions. Reporting by Ron Bousso; Editing by Susan Fenton and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Brostrom, Wael Sawan, Thomas Brostrøm, Shell, Greg Joiner, Brostrom, Sawan, Ron Bousso, Susan Fenton, Barbara Lewis Organizations: Shell Energy Australia, Shell, Thomson

☆ Spending on renewables and EVs boosting copper prices, says analyst
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpending on renewables and EVs boosting copper prices, says analystMichael Widmer, head of metals research at BofA Global Research, discusses demand for copper across China and Europe.

Persons: Michael Widmer Organizations: BofA Global Research Locations: China, Europe

☆ China is set to shatter its wind and solar target five years early, new report finds
▼ + stars: | 2023-06-29 | by ( Caolán Magee | ) edition.cnn.com time to read: +3 min

CNN —China is on track to double its wind and solar energy capacity and hit its 2030 clean energy targets five years early, a new report has found. Solar capacity in China is now greater than the rest of the world combined. “China is rapidly and successfully scaling up its deployment of renewable power and has become the largest investor into renewables globally. This is both a cause and consequence of rapidly falling costs of renewable energy as compared to coal power,” he said. Tsang hopes that relative cheapness of renewable energy will persuade China to kick its coal habit.

Persons: Dorothy Mei, ” Martin Weil, Xi, Greg Baker, Byford Tsang, ”, Tsang Organizations: CNN, Global Energy Monitor, Center for Research, Energy, Clean Air, Getty, IEA Locations: China, Beijing, AFP, ERG

☆ Analysis: Nigeria's Tinubu faces daunting hurdles after reform sprint
▼ + stars: | 2023-06-27 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +6 min

Nigeria today faces record debt, unemployment is worryingly high, and power shortages have contributed to years of anaemic growth. "The path to political power in Nigeria, over time, has always been through these vested interests," said Bismarck Rewane, CEO at Financial Derivatives Company in Lagos. ENTRENCHED NETWORKSTinubu's ambitions to build a $1 trillion economy in eight years could come unstuck in part due to chronic power shortages. Getting the lights on would be a major win, but to do so some say Tinubu must remove grid subsidies and cut red tape. Tinubu suspended the head of the financial and economic crimes agency, but has yet to outline an anti-graft plan.

Persons: Bola Tinubu, Jason Tuvey, Bismarck Rewane, Tinubu, Tunau Taiwo, Nnamdi Obasi, Prince Ojeabulu, Muhammadu Buhari, jihadists, beholden, Joe Bavier, Conor Humphries Organizations: New, Capital Economics, Financial Derivatives Company, International, Rensource Energy, Nigeria Delta, Observers, Thomson Locations: Nigeria, LAGOS, New Nigerian, Lagos

☆ Indonesia's Pertamina, Electrum sign battery packs development deal
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, June 27 (Reuters) - Indonesia's state energy company Pertamina said late on Monday it plans to develop battery packs for electric motorcycles with Electrum, a firm that aims to put millions of electric two-wheelers on the roads of the Southeast Asian country. The agreement was signed during a groundbreaking ceremony for Electrum's electric scooter plant on Friday, where the company, which is a joint venture between coal miner TBS Energi Utama (TOBA.JK) and giant tech firm GoTo Gojek Tokopedia (GOTO.JK), aims to produce 250,000 units of electric scooters per year. The planned battery packing facility run by Pertamina's renewables unit and Electrum could cover a capacity of about 300 megawatts, Pertamina official Dicky Septriadi said. Indonesia has the world's largest reserves of nickel - a key element in electric vehicle (EV) batteries - and is keen to utilise the mineral to create a full supply chain for the industry. Reporting by Fransiska Nangoy, Bernadette Christina; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Pertamina, GoTo Gojek Tokopedia, Dicky Septriadi, Fransiska Nangoy, Bernadette Christina, Kanupriya Kapoor Organizations: TBS, Utama, Thomson Locations: JAKARTA, Indonesia

☆ Siemens Energy shares gain as Goldman dubs reaction to turbine problems 'excessive'
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

Companies Siemens Energy AG FollowFRANKFURT, June 27 (Reuters) - Shares in Siemens Energy (ENR1n.DE) recovered some losses on Tuesday after Goldman Sachs analysts kept a "buy" rating on the stock and said the massive sell-off following the disclosure of problems at its wind turbine division was overblown. They had fallen more than 37% on Friday after the company withdrew its 2023 profit outlook, citing failure rates at its newer onshore wind turbine models that will cost more than 1 billion euros ($1.1 billion) to fix. "We remain Buy-rated as we believe there has been an excessive negative market reaction over the past several days which leaves Siemens Energy shares deeply discounted," Goldman Sachs analysts wrote. Goldman Sachs said that they estimate 1.5 billion euros in costs related to the communicated problems, less than the 2 billion Jefferies estimate a day earlier. ($1 = 0.9146 euros)Reporting by Christoph Steitz, Editing by Friederike Heine and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Christoph Steitz, Friederike Heine, Louise Heavens Organizations: Siemens Energy, FRANKFURT, Jefferies, Thomson

And while South Africa may have topped the overall pile of major economies in 2022, the trajectory of its carbon intensity has been steadily lower for the past decade, with the latest carbon intensity level nearly 8% lower than that of 2010. Poland's carbon intensity is also on a steadily declining track, and has dropped 16% since 2010 due to greater use of renewables and cleaner-burning natural gas in energy generation. Carbon intensity of key Asian economiesIndia, which had a carbon intensity of 632 grams per KWh in 2022, also has a declining intensity trend, although at a much shallower slope than Poland given India's continued high reliance on coal in power generation. TRENDING LOWEROther key economies with significant carbon intensity trends include Japan, which was forced to sharply increase carbon intensity in the wake of the 2011 Fukushima nuclear meltdown by shuttering other nuclear plants and increasing use of coal and gas-fired plants to generate electricity instead. Some economies are increasing their carbon intensity, but most have reduced intensity since 2010Most other major economies are also undergoing steady carbon intensity declines, including Australia, which in the early 2000's had one of the highest carbon intensity ratings in the world thanks to its predominantly coal-fired power system, but has now cut that intensity through sharp increases in solar and wind power generation.

Persons: plumb, Gavin Maguire, Conor Humphries Organizations: United States, Reuters, Thomson Locations: LITTLETON , Colorado, China, India, South Africa, Indonesia, Poland, Africa, Morocco, The Philippines, Taiwan, Hong Kong, Thailand, Saudi Arabia, Botswana, Guinea, Bissau, Gambia, South Sudan, Japan, Australia

The Global Wind Energy Council said earlier this year that a record 680 gigawatts (GW) of wind energy capacity is expected to be installed by 2027. But the expected revenues of those planning to build wind turbines have not risen in tandem. Many governments index the prices paid for wind energy, usually through auctions, which are often too low, analysts at Wood Mackenzie said. COMPONENTSAmong the issues which arise from operating wind turbines, wear and tear on turbine blades over time can lead to erosion. Its shares fell more than 6% on Friday, while shares in Siemens Energy, the second biggest wind turbine maker, sank 37%.

Persons: Wood Mackenzie, WindEurope, Nina Chestney, Christoph Steitz, Barbara Lewis Organizations: Siemens Energy, LONDON, Siemens, World Energy, Wind Energy Council, International Energy Agency, Thomson Locations: China, Ukraine, Frankfurt

☆ Renewables growth did not dent fossil fuel dominance in 2022, report says
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +5 min

Energy consumption grew everywhere apart from Europe, including Eastern Europe. Renewables, excluding hydropower, accounted for 7.5% of global energy consumption, around 1% higher than the previous year. The share of fossil fuels in global energy consumption remained at 82%. Most oil demand growth came from revived appetite for jet fuel and diesel-related products. Europe accounted for much of LNG demand growth, increasing its imports by 57%, while countries in the Asia-Pacific region and South and Central America reduced purchases.

Persons: Juliet Davenport, consultancies, Shadia, Philippa Fletcher Organizations: Belchatow, REUTERS, Stezycki Companies, World Energy, Energy, Energy Institute, consultancies KPMG, Kearny, BP, Renewables, OECD, Central America, Thomson Locations: Zlobnica, Poland, Ukraine, Europe, Asia, Paris, Eastern Europe, United States, Nigeria, North America, Pacific, South, Central, Japan, China, India, Indonesia

The company has provided more than 132 gigawatts (GW) of wind turbines as of the end of April this year to all global regions: 108 GW of onshore wind and 22 GW of offshore wind. The discovery of faulty components at Siemens Gamesa's onshore wind turbines had already caused a charge of nearly half a billion euros in January. Siemens Gamesa has provided wind turbines to some of the biggest power companies and oil and gas majors worldwide. Shares in European wind turbine producers Nordex (NDXG.DE) and Vestas (VWS.CO) also fell as confidence in the industry was shaken. Many wind power developers have already seen delays in projects due to the availability of components and rising costs.

Persons: Siemens Gamesa, Spain's, Denmark's, Nina Chestney, Christoph Steitz, Susan Fenton Organizations: Siemens Energy, Siemens, SIEMENS, WHO, Scottish Power Renewables, East Anglia, Poland's PGE, Siemens AG, Thomson Locations: Spain, Europe, Americas, Britain, North, Baltica, Baltic

The deal fits the Italian group's plan to increase the share of gas in its total hydrocarbon production and is expected to boost its earnings immediately, Eni said in a statement. Eni, which is controlled by the Italian government, owns 63% of Vaar and is the main beneficiary of cash dividends from the Oslo-listed unit. VAAR EXPANDING IN NORWAYUnder the agreement, Eni will acquire Neptune's entire portfolio other than its operations in Germany and Norway. The German operations will be carved out prior to the Eni transaction and the Norwegian operations will be acquired by Vaar directly from Neptune in a separate deal, the two groups said in a statement. The Vaar transaction will close immediately prior to the Eni deal with the proceeds from the Norway sale remaining with the business purchased by the Italian group.

Persons: Italy's Eni, Eni, Claudio Descalzi, Descalzi, Vaar, Torger Roed, Rothschild, Ernst, Young, Shadia Nasralla, Terje Solsvik, Alvise Armellini, Jason Neely, Simon Cameron, Moore, Philippa Fletcher Organizations: Eni, MILAN, Italy's, Neptune Energy, Vaar Energy, LNG, Eni's Gas, Royal Bank of Canada's, Neptune, China Investment Corporation, Carlyle Group, CVC Capital Partners, HSBC, White, Case, Thomson Locations: Europe, Algeria, Indonesia, Milan, Russia, Oslo, Norway, Vaar, NORWAY, Germany, Norwegian, Neptune, Neptune Norway, Italian, Britain, Netherlands, LNG, London

☆ Here's an unusual derivative play off the A.I. boom
▼ + stars: | 2023-06-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

One liquid cooling stock could be an unexpected beneficiary of the artificial intelligence boom as datacenters power stronger workloads, according to RBC Capital Markets. Liquid cooling demand could add one percentage point of annual growth for the company over the next five years, according to RBC. "Rising electricity prices, cost-effectiveness, space optimization through higher densities, AI growth, and ESG considerations are among the key market drivers," Dray said. "As the digital landscape continues to evolve, liquid cooling is poised to play a pivotal role in meeting the escalating cooling demand of modern datacenters." He also highlighted Dover , Eaton and Wesco as names with exposure to liquid cooling.

Persons: Deane Dray, Dray, CNBC's Michael Bloom Organizations: RBC Capital Markets, RBC, datacenters, Digital Realty Trust Locations: Pentair, Dover, Eaton

India's top solar power producing state Rajasthan has been getting "early warnings" of technical challenges that could arise as the use of renewables increases, a federal power ministry official said. "If proper tariff structures incentivising flexible thermal generation are not introduced, it could result in slower renewable energy adoption," he said. Reuters GraphicsSOLAR, PLUS COALGreen energy capacity in Asia grew 12% in 2022, the fastest rate among major regions, according to the International Renewable Energy Agency. However, authorities in India's sun-drenched Rajasthan state are finding it increasingly difficult to control voltage fluctuations due to the inconsistent nature of solar power output. "Many of these renewable plants are not actually able to comply with such requirements," the official said.

Persons: Rystad, Wood Mackenzie, Lauri Myllyvirta, Pablo Hevia, Koch, Hevia, Florence Tan, Yuka Obayashi, Andrew Hayley, Fransiska, Gopal Sharma, Mei Mei Chu, Joyce Lee, Tony Munroe, Jamie Freed Organizations: Engie, Centre for Research, Clean Energy, Air, Reuters, International Renewable Energy Agency, International Energy Agency, Thomson Locations: China, India, Asia, Wood Mackenzie SINGAPORE, Rajasthan, Pacific, Malaysia, Pakistan, Bangladesh, Vietnam, Singapore, Tokyo, Bangkok, Beijing, Jakarta, Khanh Vu, Hanoi, Kathmandu, Kuala Lumpur, Seoul

Santander and Goldman Sachs were the latest to upgrade their recommendations on the oil company to "Buy". They announced the change late on Tuesday, citing an attractive valuation and limited impacts from recent changes to key company policies. That followed similar calls earlier this month by Morgan Stanley and JPMorgan, which upgraded Petrobras to "Overweight" mentioning less disruptive policy changes than initially expected and lower risk perceptions, respectively. Analysts now await an announcement on the firm's dividend policy by July, but they do not foresee a major shift. "We believe the company's financial vigor and the government's fiscal needs make the case for limited changes," said Santander analysts, who raised their rating to "Outperform".

Persons: Goldman Sachs, Morgan Stanley, Goldman, Luiz Inacio Lula da Silva's, Gabriel Araujo, Brad Haynes, Emma Rumney, Sharon Singleton Organizations: SAO PAULO, Petrobras, PETR4, Santander, JPMorgan, Thomson Locations: Brazil

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