Business strategy

With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.

Hydro-Québec increases net income and intensifies investments

Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
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French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.

IBM and NASA launch AI model to anticipate solar storm risks

IBM and NASA unveil an open-source model trained on high-resolution solar data to improve forecasting of solar phenomena that disrupt terrestrial and space-based technological infrastructures.
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The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.

T1 Energy strengthens its U.S. solar strategy and reaffirms 2025 targets

T1 Energy secures a wafer supply contract, signs 437 MW in sales, and advances G2_Austin industrial deployment while maintaining EBITDA guidance despite second-quarter losses.
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Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.

United States: 2024 Capex and M&A Strengthen Producers’ Energy Advantage

The 2025 EY study on 40 groups shows capex driven by mega-deals, oil reserves at 34.7 billion bbl, gas at 182 Tcf, and pre-tax profits declining amid moderate prices.
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Australian fuel distributor Ampol reports a 23% drop in net profit, impacted by weak refining margins and operational disruptions, while surpassing market forecasts.
Puerto Rico customers experienced an average of 73 hours of power outages in 2024, a figure strongly influenced by hurricanes, according to the U.S. Energy Information Administration.

CITGO posts $100 million net profit in second quarter 2025

CITGO returns to profitability in Q2 2025, supported by maximum utilization of its refining assets and adjusted capital expenditure management.
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MARA strengthens its presence in digital infrastructure by acquiring a majority stake in Exaion, a French provider of secure high-performance cloud services backed by EDF Pulse Ventures.
ACEN strengthens its international strategy with over 2,100 MWdc of attributable renewable capacity in India, marking a major step in its expansion beyond the Philippines.

RWE posts €2.1bn adjusted EBITDA in H1 2025 despite adverse wind conditions

German group RWE maintains its annual targets after achieving half its earnings-per-share forecast, despite declining revenues in offshore wind and trading.
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A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.
The US liquefied natural gas producer is extending its filing deadlines with the regulator, citing ongoing talks over additional credit support.
Chevron’s net profit dropped sharply in the second quarter, affected by falling hydrocarbon prices and exceptional items, as the group completed its acquisition of Hess Corporation.
ExxonMobil reports a decrease in net profit to $7.08bn in the second quarter but continues its policy of high shareholder returns and advances its cost reduction objectives.

Sitka Power takes full control of Synex Renewable Energy for $8.82 mn

Sitka Power Inc. completes the acquisition of Synex Renewable Energy Corporation for $8.82 mn, consolidating its hydroelectric assets and strengthening its growth strategy in Canada.
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DLA Piper assists Grupo Cox in a planned transfer of Iberdrola assets in Mexico, with a reported value of $4.2 billion, mobilising an international legal team.
Italian group Enel reports net profit of €3.4bn for the first half, down from last year, while revenue rises to €40.8bn amid market volatility.

Atlantica acquires Statkraft’s Canadian platform with 236 MW in operation and a 0.81 GW pipeline

Atlantica Sustainable Infrastructure takes over Statkraft’s Canadian platform, including all operational and development-stage wind, solar, and storage assets in Canada.
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Energy group Engie confirms its financial outlook for 2025 despite what it describes as an uncertain international context and lower prices that weighed on its results in the first half.
Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.

TC Energy raises annual outlook after strong second quarter 2025

TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.
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Saturn Oil & Gas reports a reduction in net debt by $86mn in the second quarter of 2025, achieving record free cash flow and production above forecasts in the North American market.
Cenovus Energy announces a net profit of $851mn for the second quarter of 2025, while accelerating the completion of its main growth projects and strengthening its strategic position despite temporary operational constraints.

US tariff exemptions reveal critical reliance on Brazil for energy and metals

Analysis of sectors spared by Trump tariffs exposes the vulnerability of US industrial supply chains to Brazilian resources.
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A partnership between Nscale, Aker and OpenAI will create Stargate Norway, an artificial intelligence infrastructure site powered by renewable energy, set to house 100,000 NVIDIA GPUs in Northern Norway by the end of 2026.
Shell’s half-year net profit falls to USD8.38bn as the group announces a new share buyback programme, amid lower hydrocarbon prices and ongoing cost reductions.

Legrand raises 2025 targets, driven by data centre growth and strong profitability

Legrand reports a significant increase in half-year profit, fuelled by growing demand from data centres and reinforced growth prospects for the coming years.
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Schneider Electric’s revenue reached EUR19.3bn in the first half, supported by strong data centre activity and growth across all its main markets.
Subsea 7 reports a strong increase in its financial results for the second quarter of 2025 and announces a definitive agreement for a merger with Saipem, while maintaining its growth outlook for the year.

Scatec obtains retroactive tariff on ancillary electric services in the Philippines

Scatec ASA and Aboitiz Power secure approval for an increased tariff on ancillary services, generating more than $21mn in retroactive revenue on the Philippine market.
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Enbridge confirms dividend payments for its common and preferred shares, consolidating its shareholder return policy amid stability in the North American energy sector.
Cox aims to acquire Iberdrola’s 15 power plants in Mexico for EUR4 bn (USD4.69 bn), strengthening its presence in a changing market.