Renewabl Market Recap: Your bi-weekly update on clean energy - #6

We’re back with another Renewabl Market Recap. It’s been a busy few weeks with #RenewablDay and our webinar series with Climate Group (Session 2 is today! ). After a short pause, here are the key market highlights you may have missed:

Market commentary

• In the past two weeks, the Guarantees of Origin (GO) market experienced a significant price decline of 12-28% driven by oversupply, despite a short-lived rebound last week.
• European GOs for 2025 and 2026 saw modest gains, with Nordic hydro reaching €1.11/MWh.
• Meanwhile, UK REGOs held steady at ￡5.95/MWh, though prices may dip after the upcoming auction.
• In the global market, I-REC prices remain varied, with Malaysian solar trading at $5.82/MWh and Vietnamese wind and solar as low as $0.55/MWh.

Policy and energy infrastructure

• The new report by IEA expects global electricity demand to grow by 3.3% annually until 2030. Global coal use is projected to fall by 13% by 2030. Oil could fall to $25 per barrel by 2050 if net zero emissions goals met.
• The EU Agency for the Cooperation of Energy Regulators (ACER) will not provide a new standardised template for PPAs but rather focus on updating existing templates to address structural market barriers.
• Australia and UK make a pact to partner on 2050 net-zero climate goal.
• EU invests €4.8 billion of emissions trading revenues in innovative net-zero projects, which is the largest since the start of the Innovation Fund in 2020.
• Elia Transmission secured €650 million for Belgium’s Princess Elisabeth Island project, advancing Europe’s renewable infrastructure.

Corporate initiatives and new projects in renewables

• Microsoft, Amazon, and Google are investing in nuclear power to meet the rising energy demands of AI and data centres.
• Morgan Stanley and Climeworks teamed up to remove 40,000 tons of CO?, as part of a commitment to mobilise $1 trillion for sustainable solutions.
• Mercedes-Benz opened Europe’s largest EV battery recycling plant, recovering 96% of materials.
• Santos faces a landmark lawsuit from a shareholder over misleading net-zero claims, highlighting legal action against corporate greenwashing.
• Respect Energy signed a PPA to supply 63 GWh annually from a 57 MW solar farm, supporting Poland’s renewable energy goals.
• Swiss renewable energy producer and trader Axpo signed a deal to supply Borealis with more than 900 GWh of wind power for its operations in Belgium.
• Atrato launched a 55 MW solar farm in Yorkshire, set to power 20,000 homes and cut 11,000 tonnes of CO? annually.
• The Bristol Port Company has announced it will be producing floating wind turbines to help the UK meet its net zero targets and reduce the country's reliance on foreign electricity suppliers.?

Reports and papers

• The new report by IEA expects global electricity demand to grow by 3.3% annually until 2030. Global coal use is projected to fall by 13% by 2030. Oil could fall to $25 per barrel by 2050 if net zero emissions goals met.
• For automotive manufacturers: A new BDO report shows how UK automotive suppliers are navigating the net zero transition, balancing immediate challenges with long-term sustainability goals. The energy transition and digitalisation came up as the main priorities:

• BloombergNEF estimates that to match their ‘economic transition’ scenario, annual investment must increase to $6.7 trillion per year.
• Interest in cross-border PPAs has declined since the energy crisis of 2022.
• Over 60 scientists criticised carbon offsets, arguing they delay meaningful progress toward achieving real net-zero emissions.
• The UK Climate Change Committee recommends cutting meat and dairy consumption by 50% to meet 2050 net-zero targets.
• Hiring for the future: why AI and sustainability are shaping the next generation of STEM talent.

That’s all for this week’s newsletter! Stay tuned, and let us know if you have specific trends or updates you’d like us to cover.