Sunlight floods in at noon, but people switch on their lights and air conditioning at dusk — after the sun has already dropped below the horizon. That gap is exactly why clean energy can't be counted on — and why "grid-scale batteries" have become the fastest-growing part of the power grid in the world right now. They're the missing piece that finally makes solar and wind usable for real.
Nvidia, Google and Emerald AI Launch AI Energy Management Alliance
Nvidia, Google and Emerald AI have launched the AI Energy Management Alliance, or AEMA, a coalition that dynamically manages the electricity use of data centers in response to grid conditions. Emerald AI founder and CEO Varun Sivaram said the alliance's founding members are joined by a cohort of 20 launch partners, including the AI lab Anthropic, the semiconductor firm Analog Devices, and the energy companies AES, NRG, Constellation, RWE and National Grid. Sivaram said Emerald AI, which was founded under two years ago, is building with Nvidia and Digital Realty the world's first from-the-ground-up power-flexible AI data center, a 100 megawatt facility in Manassas, Virginia, that comes online later this year. He said Google, one of the founding members, has already done a gigawatt of demand response for its data centers, while Emerald and Nvidia have completed six demonstrations around the world, in London, Phoenix and Virginia. Sivaram said the alliance is talking to the FERC commissioners, state regulators and the administration about a grand bargain in which flexible AI data centers act as good citizens to grids and communities in return for faster and larger connections to the power grid.
CleanSpark Signs $6.6 Billion AI Data Center Lease in Georgia
CleanSpark has signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, site, a deal the company expects to generate $330 million in annual revenue. Chairman and CEO Matt Schultz said the site includes a fully energized 250-megawatt substation, that CleanSpark secured an additional 122 acres with community support, and that the tenant received short-term exclusivity for up to 885 additional megawatts in Texas, with the first data hall targeted for delivery in December 2027. The announcement came during an H.C. Wainwright panel where mining and AI infrastructure executives described a broad pivot from bitcoin operations toward AI colocation, cloud services and GPU-as-a-service. Core Scientific's Russell Cann said direct-liquid-cooled construction costs have climbed from roughly $4.5 million per megawatt for early projects to about $10 million to $10.5 million per megawatt for facilities turned on this year and $12 million to $13 million per megawatt for projects expected to start operating in 2027. Cann also said Core Scientific recently announced a roughly 500-megawatt agreement with AMD, with AMD holding rights to the next 2,000 megawatts across sites in Hunt County and Pecos, Texas, and Muskogee, Oklahoma, under a 15-year triple-net lease at $125 per megawatt or a modified gross structure at $145 per megawatt. Executives pushed back on AI bubble concerns, with Cann noting roughly 5 gigawatts of rack space is delivered annually against approximately 15 gigawatts of annual chip demand, while cautioning that many power requests may be duplicative or unsupported by actual transmission, substations or fuel supply.
Fluence Energy Cuts Fiscal 2026 Revenue Guidance to $2.4 Billion on Houston Manufacturing Delays
Fluence Energy has lowered its fiscal 2026 financial guidance, citing persistent supply-chain challenges affecting U.S. production. The company now expects fiscal 2026 revenues of approximately $2.4 billion, down from the previous guidance midpoint of about $3 billion, and below the Zacks Consensus Estimate of $2.95 billion. Fluence Energy also projects an adjusted EBITDA loss of nearly $200 million, substantially wider than its earlier forecast midpoint of a loss of around $10 million. The company said demand remains strong in both domestic and international markets and its international supply chain continues to operate effectively, but delays in ramping up production at its contract manufacturing facility in Houston have constrained its ability to convert demand into completed deliveries and revenues. Fluence Energy is restructuring its operational organization and improving coordination across supply-chain planning, manufacturing and product delivery, while its contract manufacturing partner has implemented corrective measures that have already contributed to higher daily production levels. The company aims to achieve neutral to positive operating cash flow in fiscal 2027 and is expected to report a detailed fiscal 2027 business plan and updated financial outlook when it releases fiscal 2026 results later this year.
Cabot Expands Battery Materials Platform With $50M DOE Grant
Cabot Corporation is expanding domestic production of advanced conductive additives at its Franklin, Louisiana, and Pampa facilities through a modified $50 million grant from the U.S. Department of Energy's Office of Critical Minerals and Energy Innovation. The funding, combined with approximately $75 million of Cabot investment, is intended to meet rising demand for energy storage systems, AI infrastructure, data centers, grid modernization and broader electrification. Under the revised agreement, Cabot will redirect funding from its originally planned Michigan project toward a two-site brownfield expansion, a move expected to accelerate development, improve production efficiency and strengthen supply capabilities. The investment will support Franklin's production of LITX advanced battery-grade conductive carbons, while the Pampa facility will establish Cabot's first commercial-scale production of carbon nanostructures and part of its ENERMAX product family, with both projects expected to become operational by the end of 2028. Cabot's shares have gained 17% year to date compared with the industry's 13.7% rise in the same period.
Government expands public solar scheme to 10,000 megawatts, buying power at 2.20 baht for 20 years
The National Energy Policy Committee, or NEPC, at its 3/2569 meeting approved expanding the framework for promoting public solar power from an initial proposal of 5,000 megawatts to 10,000 megawatts, or roughly 1 million households. The meeting was chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. Lalida Perdviwattana, deputy spokesperson for the Prime Minister's Office, disclosed that power purchases will use a Net Billing system, letting people consume the electricity they generate themselves first and then sell the surplus into the grid at 2.20 baht per unit, with the amount offered for sale capped at no more than 5 kilowatts per meter. The purchase contract period will also be extended from 10 years to 20 years to align with the service life of solar panels. The additional power purchase framework covers the period from 2569 to 2571 and expands installation formats from the previous focus on rooftop solar to allow ground-mounted and floating installations for households as well. The meeting also assigned the Ministry of Energy, the Ministry of Interior and the three electricity authorities to complete plans for supporting infrastructure within one month, covering power generation forecasting, real-time data monitoring, control of transmission and distribution systems, and battery energy storage systems. It also directed the Metropolitan Electricity Authority and the Provincial Electricity Authority to link data from smart meters with the Electricity Generating Authority of Thailand, and assigned the Ministry of Industry to draw up a recycling plan for solar panels and batteries. In addition, the NEPC approved a policy direction to reduce the electricity burden for the September to December 2569 period by holding the retail Ft charge at 16.23 satang per unit.
State weighs expanding Solar Rooftop scheme to 1.5 million households, boosting EPC work and the power grid
The government is considering expanding the One Million Solar Roofs programme from 1 million households to 1.5 million households, while keeping the subsidy at 50,000 baht per household and the quota at 500MW as before, under a 200 billion baht envelope set by the Emergency Decree on Promoting the Energy Transition. If expanded to 1.5 million households, the total budget required would be about 75 billion baht, which remains within the 200 billion baht ceiling, and the proposal is currently under review by the Ministry of Interior. The Research team at Bualuang Securities said the expansion is a positive factor for the power plant sector, especially the EPC business and equipment sales, as well as investment in upgrading the power grid system, which is likely to increase. GUNKUL benefits directly from construction work and equipment sales, with a backlog of such work of roughly 4.2 to 4.5 billion baht. Meanwhile, funding through On-bill Financing from GSB, GHB and BAAC helps reduce the constraint of upfront investment, and loan approval times have fallen from as long as one year to about 7 to 30 days. GPSC and BGRIM benefit more indirectly, through investments related to the grid system and energy storage systems. GULF is expected not to be significantly affected, because the subsidy comes from the emergency decree and is not passed through costs via electricity bills or the Ft tariff, so it does not pressure margins on existing PPAs.
Sunrun Raises $100 Million in Private Placement of Convertible Preferred Shares and Warrants
Sunrun has arranged a private placement of convertible preferred shares and warrants to raise US$100 million from a single investor under Regulation D, without paying sales commissions or finder fees. The funding move lands after a volatile stretch for the company, with the share price up 5.5% over the last day yet still down 55.1% year to date and the 1 year total shareholder return falling 46.5%. Sunrun is rapidly scaling its storage and grid services offerings, enrolling a growing portion of its customer base, currently approximately 35% of 200,000 batteries, and aiming for 10 GWh of dispatchable energy by 2029. The most followed narrative pins fair value at $17.05 against a last close of $8.73, implying the stock is 49% undervalued, though the bullish case frays if tax credits fade faster than expected or tight credit markets restrict access to low-cost funding.
Generac Surges 18% on $8 Billion Amazon Data Center Generator Deal
Generac agreed to supply up to $8 billion worth of backup generators for Amazon's data centers, sending its shares up 18% and making it the top performer on the S&P 500. The company also issued a warrant for a stake in itself, according to a securities filing, and analysts said the stock could double in price over the next 12 to 18 months. The broader market closed higher, with the Dow Jones industrial average adding about 300 points, or roughly 0.6%, the S&P 500 gaining about 86 points, or 1.2%, and the Nasdaq composite rising about 1.7%. Intel shares climbed more than 7.5% after South Korean memory chipmaker SK Hynix said it might team up with the company, following a Reuters report that it could lease part of Intel's long-planned Ohio chip facility or form a venture, though SK Hynix said no decision has been made. Among decliners, Paramount Skydance fell more than 4.6% as a Barclays analyst argued its proposed merger with Warner Brothers could introduce massive financial and operational risks and predicted the company would eventually split up, while Fluence Energy tumbled 15% after cutting its revenue forecast, which analysts attributed to production issues at its Houston facility.
Generac Soars 19% on $2.4 Billion Amazon Data Center Generator Deal
Generac struck a deal with Amazon to supply backup power generators for its data centers, with initial deliveries expected to total $2.4 billion between 2027 and 2028, and also granted Amazon the right to buy up to $340 million worth of its stock. Generac shares soared 19% on the news, while Amazon's stock moved 1.3% higher. Fluence Energy shares tumbled 14% after the battery storage maker cut its full-year guidance, now expecting $2.4 billion in revenue for 2026 versus its prior guidance of $2.9 billion to $3.1 billion, and anticipating a loss of $200 million before interest, taxes, depreciation and amortization, more than its previous guidance range of $30 million loss to $10 million EBITDA. Workday rose 5% after CNBC's David Faber reported that efforts to gain financing for a bid to take the cloud-based human resources software platform private are continuing, citing unidentified sources. Tower Semiconductor rose almost 9% after agreeing with privately-held New Photonics to a high-volume shipment of laser-integrated optical engines designed to meet growing demand for high-bandwidth, energy-efficient optical interconnects in AI infrastructure, and Vital Farms climbed 9% after Axios said the Austin, Texas-based pasture-raised egg and butter producer is exploring strategic alternatives, including privatization.
PG&E Adds $30 Million Second Round of Community Microgrid Awards
Pacific Gas and Electric Company announced new grant agreements for community microgrid projects moving into development and the selection of six new projects in the second application window of its Microgrid Incentive Program. The second wave directs $30 million to projects serving more than 2,200 customers and supporting critical facilities including schools, fire stations and health centers, with individual awards ranging between $2-6 million each. That $30 million is the second tranche of the program's PG&E funding, following the $43 million PG&E announced in 2025 for nine initial projects, bringing the combined authorized community microgrid investments to more than $73 million. In the first round, three proposed projects in Lake County are advancing a first-of-its-kind approach known as Firemain Linked Auxiliary Supply/Hydraulic Energy Storage, pairing tens of megawatts of locally generated solar with pumped hydroelectric storage, and are moving into early development with geotechnical core boring and initial test well drilling planned. In the second round, the Pescadero project in San Mateo County will be led by WestLight Energy, formerly Peninsula Clean Energy, and will integrate a roughly 1.5 megawatt solar system and a 2 megawatt battery energy storage system to support at least 24 hours of standalone operation. The Microgrid Incentive Program is a statewide $200 million competitive grant program, with $79.2 million allocated to PG&E, $83.3 million to Southern California Edison and $17.5 million to San Diego Gas and Electric, and awards of up to $14 million each.
ENGIE to Supply Up to 568 MW of Renewable Power for Oracle's Texas Operations
ENGIE North America announced renewable energy supply agreements that will provide up to 568 MW of renewable electricity for Oracle's growing operations in Texas. The power will come from a portfolio of wind energy resources serving the Electric Reliability Council of Texas market, part of ENGIE's roughly 12 GW of new renewable generation and battery storage capacity built across North America over the past six years. Anne-Laure Chassanite, Interim CEO of ENGIE North America, said the agreements reflect the strength of the company's portfolio and its ability to deliver customized energy solutions for customers expanding in Texas. Julia Robin, Head of Infrastructure Planning and Sourcing for Oracle Cloud Infrastructure, said the deals advance Oracle's goal to match 100 percent of its AI data center electricity use with carbon-free electricity by 2035 without shifting costs to Texas consumers. ENGIE North America, based in Houston, has approximately 12 GW of power generation in operation or under construction across North America, representing $11 billion of capital employed.
SEC, Aware Super and Birdwood to build 1.86GWh battery in Victoria
The State Electricity Commission of Victoria has partnered with Aware Super and Birdwood to deliver a 1.86GWh battery energy storage system in Wodonga, Victoria. The Baranduda Electrical Energy Reserve will have 400MW of capacity and provide electricity for up to 4.65 hours, with four independent units each rated at 100MW/465MWh and separate grid connections, located next to the Wodonga Terminal Station on the Victoria–New South Wales 300kV high-voltage interconnector. The state-owned SEC will invest up to $30.6m, or A$43m, for a minority stake in the development and has agreed to a 15-year offtake arrangement to purchase 50% of the battery's output, with the remaining 50% sold on the merchant market. Construction is expected to begin in November 2026 and create approximately 150 jobs, with the battery scheduled to become operational in late 2028 and the potential to supply more than 200,000 Victorian homes during peak evening hours. Baranduda forms part of the Birdwood Energy Storage and Transition platform, a joint initiative between Aware Super and Birdwood.
Google-Backed Battery Storage Pilot Shifts 9.2 GWh Using Hourly Renewable Certificates
Quintrace, esVolta, and LevelTen Energy announced the results of a battery storage pilot, sponsored by Google, that used hourly, time-stamped Granular Certificates to shift surplus renewable energy to hours when Google's energy consumption exceeded its renewable supply. Across the 3-month pilot, the batteries charged and discharged a total of 9.2 GWh during the defined mid-day charging and evening discharging windows, with each hour verified by Quintrace against the EnergyTag standard. esVolta contributed its Anole project, at 240 MW / 480 MWh, and its Burksol project, at 100 MW / 200 MWh, while LevelTen managed the registry accounts to ensure no double-counting and provided the transaction framework for the storage-shift agreements. Under the agreements, Google contracted with the battery operators to time-shift environmental attributes it already owned, without tolling the batteries or assuming any merchant or dispatch risk, leaving operators in full control of their assets. The pilot's backers said the structure opens the first environmental revenue stream for battery assets as the Science Based Targets initiative begins requiring hourly reporting for large energy users and the GHG Protocol evaluates how to address the issue.
Generac Soars 33% on Amazon Data Center Generator Deal
Generac struck a deal with Amazon to supply backup power generators for its data centers, sending the generator maker's shares up 33% in premarket trading. Initial deliveries are expected to total $2.4 billion between 2027 and 2028, and Generac also granted Amazon the right to buy up to $340 million worth of its stock; Amazon shares rose 1.3%. Lennar fell 1.2% after reporting third-quarter earnings of $1.19 per share, short of the $1.28 expected by analysts polled by FactSet and nearly half of what it saw this time last year, with revenue of $8.05 billion versus the $8.23 billion consensus estimate. Fluence Energy tumbled 22% after cutting its full-year guidance to $2.4 billion in revenue for 2026 from a prior range of $2.9 billion to $3.1 billion, and now anticipates a $200 million loss before interest, taxes, depreciation and amortization versus its previous guidance range of a $30 million loss to $10 million EBITDA. Nike rose 1.5% after announcing the appointment of Alexandre Arnault, Deputy CEO of LVMH's Moët Hennessy, to its board, and Arm Holdings gained roughly 4% after CEO Rene Haas told CNBC's Jim Cramer he is increasingly confident the company can meet demand for its new data center chip.
US House passes Ratepayer Protection Act in 417-3 vote
The US House of Representatives overwhelmingly passed the Ratepayer Protection Act by a vote of 417 to 3, aiming to shield the public from electricity bill increases that could stem from the expansion of data centers driven by the artificial intelligence race. The bill now heads to the Senate for further consideration. Republican Representative Gabe Evans of Colorado introduced the bill. Its core provision requires technology companies to bear the cost of new energy infrastructure built to serve data centers, rather than shifting that burden onto consumers. It encourages state utility regulators to set standards requiring high-volume electricity customers, including large data centers, to cover the costs of adding new generating capacity. US House Speaker Mike Johnson said the Ratepayer Protection Act will help ensure American households do not have to shoulder the costs of expanding AI infrastructure or face higher energy costs. The International Energy Agency estimated in 2025 that electricity consumption by data centers in the United States could more than double its 2024 level by the end of this decade, while other assessments indicate that data center electricity use could account for more than 10% of US power demand by 2030.
Energy Policy Office reports first half of 2026 saw primary energy use rise 0.9%, full-year growth forecast at 1.4%
The Energy Policy and Planning Office (EPPO) reported that primary commercial energy consumption in the first six months of 2026 stood at approximately 2,062 thousand barrels of oil equivalent per day, up 0.9% from the same period a year earlier, in line with Thailand's economic growth of 2.4%. Electricity use rose 6.0% and natural gas use rose 7.8%, while finished oil consumption fell 0.8% and coal and lignite fell 16.5%. Cumulative registrations of battery electric vehicles as of June 2026 stood at 491,496 units, up 66% from 296,813 units in June 2025, driving electricity use at charging stations up 87.1%. Carbon dioxide emissions from total energy use amounted to 121.0 million tonnes, down 0.4%. Wattanapong Kurovat, director of the EPPO, said the office expects the country's primary energy demand for all of 2026 to be 2,042 thousand barrels of oil equivalent per day, up 1.4% from 2025, when it fell 1.6%. He added that the situation still requires monitoring, including conflict in the Middle East, uncertainty over United States trade measures, and weather factors.
I2 wins 210 million baht BESS contract, adding recurring revenue through 2034
I2 Enterprise Public Company Limited, or I2, has won a battery energy storage system (BESS) project along with an eight-year service contract worth 210 million baht from PEA ENCOM, opening the door for the company to play a role in clean energy infrastructure and to gradually recognise revenue on a quarterly basis through 2034. The deal is part of I2's strategy to increase its weighting in the clean energy business from a base centred on information technology, in order to ride the Energy Transition wave. The company is not stopping at BESS but is building an energy business portfolio covering Smart Grid, Solar PPA, ESCO and EV Charging. I2 currently has a total backlog of 713 million baht and in the second half of 2026 will continue to bid for government and state enterprise work in Infrastructure, Data Center, AI and Smart Grid & BESS to support its target of 20% growth in operating results for 2026.
Nvidia Launches AI Energy Management Alliance With Google and Emerald AI
Nvidia launched the AI Energy Management Alliance with Google and Emerald AI on Wednesday, targeting electricity, one of AI's biggest physical bottlenecks. Nvidia shares gained approximately 0.9% to $214.08. The alliance aims to make data centers behave more like flexible grid assets, shifting computing workloads, tapping stored energy or cutting electricity demand when the grid comes under pressure, and its framework is designed to measure how quickly facilities can respond, how long that flexibility lasts, how predictable it is and how operators behave during emergencies. If utilities and grid operators can trust those commitments, hyperscale projects could face fewer interconnection roadblocks and potentially require less incremental infrastructure before coming online. Power availability is increasingly a constraint on AI infrastructure deployment, and data-center revenue reached $89 billion, roughly 92.5% of Nvidia's latest quarterly sales, so delays in energizing new facilities can eventually become delays in installing Nvidia systems.
Fluence Energy Names Bernerd Da Santos Chief Operating Officer
Fluence Energy announced that Bernerd Da Santos has joined the company as Executive Vice President and Chief Operating Officer. In the new role, Da Santos will oversee Fluence's customer success, product, supply chain, manufacturing, and enterprise operations organizations. Da Santos most recently served as Senior Strategic Advisor to the President of The AES Corporation and Chairman of the AES Clean Energy Board, and previously held roles at AES including Executive Vice President and President of AES' Renewables Strategic Business Unit from June 2023 to April 2026, Executive Vice President and Chief Operating Officer from December 2017 to July 2023, and Chief Operating Officer and Senior Vice President from 2014 to 2017. Julian Nebreda, President and Chief Executive Officer of Fluence, said Da Santos has demonstrated his ability to improve operations across AES businesses, including the end-to-end transformation of AES' supply chain organization, and expressed confidence he will lead the successful resolution of the company's operating challenges. Da Santos said he is excited to join Fluence at a time of record backlog, a growing list of customers and the delivery of its new product platform, Smartstack.
PRF Technologies' GridFeed Eyes AI Data Center Power Optimization Market
PRF Technologies Ltd. announced that GridFeed, its AI-driven energy intelligence and optimization platform, is exploring the AI and hyperscale data center market as a strategic growth opportunity. The company cited International Energy Agency projections that global data center electricity consumption will roughly double from 485 TWh in 2025 to 950 TWh in 2030, while consumption from AI-focused data centers is expected to triple over the same period. GridFeed's existing optimization engine, which follows a predict, simulate, optimize and recommend process, is currently applied to renewable energy assets participating in electricity and flexibility markets, and the company believes it could be extended to help data center operators determine the highest-value use of each available megawatt. Potential applications GridFeed plans to explore with industry partners include workload shifting, energy cost optimization, battery charge and discharge strategies, demand response and real-time power allocation. The initiative follows PRF's September 9, 2026 announcement of plans to establish GridFeed, together with its DeepSolar operations, as a standalone, wholly owned subsidiary, a structure the company believes gives GridFeed flexibility to pursue new markets including data centers.
Second-Life EV Battery Market Projected to Reach USD 224.24 Billion by 2040
The second-life electric vehicle battery market is projected to grow from USD 1.70 billion in 2026 to USD 224.24 billion by 2040, according to a Research and Markets report published on GlobeNewswire. The growth is driven by increasing EV adoption and demand for cost-effective stationary energy storage, with applications in renewable energy storage, grid balancing, and EV charging. The market's expansion is supported by circular economy policies, automaker partnerships, and technologies such as AI diagnostics, though performance variability and end-of-life management remain challenges. Separately, XPeng filed a shelf registration this week for $74.9 million involving an ESOP-related offering of 14 million Class A Ordinary Shares; its shares fell 4.5% to $10.23, while HGTECH rose 5.8% to CN¥105.98 and Tesla closed at $356.58, down 0.7%.
10-Year Treasury Yield Hits 5% as Fed Rate Decision Looms
The 10-year Treasury yield hit its highest level since 2007, hovering around 5.00% after reaching the 5% threshold yesterday and climbing as high as 5.04% today. The 30-year Treasury yield stood at 5.36%, while the two-year note rose to 4.66%, more than 1% above the Fed's funds rate, signaling to the Fed that investors want rate increases. The market anticipates the Federal Reserve will raise rates tomorrow by 25 basis points. Strategists attributed the move to factors including the unwinding of the Yen carry trade, higher oil prices, corporate bond issuance for the AI infrastructure buildout, rising real rates due to economic growth and infrastructure spending, and a supply energy shock tied to shipping disruptions in the Red Sea and China's increased oil purchases for reserves.
BANPU Expands into Data Center Energy and LNG Trading to Ride the AI Wave
Banpu, or BANPU, has announced a push into two new businesses: energy for data centers and liquefied natural gas trading. CEO Sinon Vongkusolkit said the Banpu group will leverage its strengths from its natural gas base in the United States and its business networks in both the United States and Asia to expand into new forms of energy. BKV Corporation, a subsidiary listed on the New York Stock Exchange, has begun developing Modular Gas Engines as a power source for data centers in the United States in the first phase, aiming to accelerate the delivery of stable, flexible, and continuous power within one to two years before connecting to the grid over the longer term. BKV is currently in talks on long-term power purchase agreements with AI service providers and large data center operators in the United States. Meanwhile, Banpu has 10 battery energy storage system projects across four countries, namely Japan, Australia, the United States, and China, with total storage capacity of about 2.3 gigawatt-hours. For its LNG trading business, Banpu plans to use its natural gas production base in the United States, which has output of about 1 billion cubic feet per day, connected by pipeline to the Gulf of Mexico coast, to expand into LNG trading and link U.S. gas to Asian markets, including Thailand, Indonesia, South Korea, and Japan. It estimates that LNG prices will return to an equilibrium level of about 8 to 12 U.S. dollars per MMBtu over the long term.
Salzgitter and Zelestra sign Germany's largest hybrid solar-battery PPA
Salzgitter Flachstahl, a subsidiary of German steel manufacturer Salzgitter, and renewable energy company Zelestra have signed a hybrid solar-plus-battery storage power purchase agreement in Germany. The long-term contract supplies green electricity for low-carbon steel production and is backed by two new hybrid facilities that together provide 147MW of solar capacity and 79MW/237MW-hours of battery storage. The two plants, to be located in Brandenburg and Thuringia, will be constructed, owned and operated by Zelestra, while Salzgitter Flachstahl will acquire the solar electricity generated, amounting to 158GW-hours annually, and will control the operation of the battery storage systems. The batteries will be charged solely from surplus solar generation, ensuring the electricity supplied is entirely renewable. The deal marks the first hybrid solar-plus-storage PPA in Germany for both companies and the first time Salzgitter Flachstahl will control a battery storage system, with Zelestra Germany CEO Mathias Künick calling it the largest hybrid deal in Germany to date.
Planted Raises $31.8 Million to Scale Autonomous Power Deployment
Planted has raised $31.8 million to scale autonomous power deployment, with Piva Capital and RA Capital Management Planetary Health co-leading the round and participation from Breakthrough Energy Ventures, Gigascale Capital, Google, and Khosla Ventures. The funding will expand Planted's robotic fleet and support the launch of Sage, its next-generation robot, which enters the field in late 2026 and more than doubles field productivity compared with the current fleet. After deploying more than 10 MW in 2025, Planted is on track for 100 MW in 2026, a 10x jump in a single year, with a project pipeline of more than 20 GW. Planted's most recent build, a 28 MW behind-the-meter project serving a neocloud data center, went from first call to power in ten months, with field construction completed in under three months. The company's existing fleet is fully committed through 2027, and reservations for 2028 are open now, with new capacity allocated by deposit in commitment order.
BANPU targets gas and power to exceed 50%, accelerates BESS expansion to meet AI demand
Banpu, or BANPU, has announced it is moving forward with expanding its natural gas and power business portfolio, aiming to increase the combined cash flow contribution from these two businesses to more than 50%, from the current level where coal generates about 50% of cash flow, natural gas 25%, and power 25%. Chief Executive Officer Sinon Vongkusolkit stated that the integrated natural gas business group in the United States through BKV Group will be a key mechanism driving growth, while also pushing Carbon-Sequestered Gas solutions that cover greenhouse gas emissions management across Scope 1, 2, and 3 through CCUS technology. In the LNG market, the company views the price level of 20 US dollars as unsustainable and expects a return to an equilibrium level of approximately 8-12 US dollars. At the same time, the company is accelerating the expansion of its battery energy storage system, or BESS, business in the United States, Japan, China, and Australia to meet the surging electricity demand from AI and data centers. In the United States, a 100 MW BESS project is under construction and is expected to be completed in about one year. In China, there are plans to invest further in both renewable farm and BESS projects from late this year to early next year. In Thailand, the company is ready to expand immediately if the government opens bidding for BESS projects.
Yuanta maintains Buy on SSP, raises target to 14.10 baht on PDP2026 tailwinds
Yuanta Securities issued an analysis maintaining its Buy recommendation on Sermsang Power Corporation, or SSP, and raised its end-2027 fair value to 14.10 baht from 4.80 baht, based on a price-to-earnings ratio of 16 times and a discounted cash flow method using a weighted average cost of capital of 9.9%. It views SSP as a beneficiary of the draft new power development plan, or PDP 2026, which in its first 12 years between 2026 and 2037 plans to add about 38,800 megawatts of generating capacity from solar power plants and solar-plus-storage projects, or Solar+BESS. Meanwhile, SSP aims to double its generating capacity by 2030 and has the opportunity to join a 1,500-megawatt community solar project, as well as to bid for additional renewable energy projects in the Philippines. On its financial position as of the second quarter of 2026, SSP had an interest-bearing debt-to-equity ratio, or IBD/E, of 2.1 times, and is expected to recognise an extraordinary profit of about 300 to 500 million baht from the sale of the 30-megawatt Yamaga wind power project in the third quarter of 2026, which will help reduce IBD/E to below 2 times, compared with an IBD/E ceiling of 3 times. Yuanta Securities estimates that SSP can support additional investment of as much as about 8 billion baht, equivalent to new capacity of no less than 266 megawatts, under the assumption of an average investment of 30 million baht per megawatt, and it also plans to divest three more power plant projects in Japan with a combined capacity of 56 megawatts, expected to bring in about 2 billion baht in cash, adding roughly 7 to 8 billion baht in investment capacity, or supporting new capacity of about 200 to 300 megawatts. Yuanta Securities expects SSP's normal profit to enter a growth cycle from 2026, estimating normal profit of 691 million baht in 2026, up 12% from the previous year, rising to 818 million baht in 2027 for growth of 18%, and increasing to 1.21 billion baht in 2028 for growth of 48%, representing average annual growth of 25% between 2025 and 2028. Although SSP's share price has already risen 127% since the start of the year, Yuanta Securities views the rise as coming from a base where the stock previously traded at a 2027 price-to-earnings ratio of only 4 to 5 times, and it does not yet include the opportunities from the PDP plan and other government renewable energy projects.
Shanghai Electric H1 2026 Revenue Rises 16.6% as New Orders Hit CNY 100.39 Billion
Shanghai Electric reported first-half 2026 operating revenue of CNY 63.332 billion, up 16.6% year-on-year, with net profit attributable to shareholders of CNY 970 million, up 18.2%, and new orders totaling CNY 100.39 billion. Of those new orders, the Energy Equipment segment accounted for CNY 64.24 billion, including CNY 12.39 billion for wind power equipment, CNY 11.44 billion for energy storage equipment, CNY 4.57 billion for nuclear power equipment, and CNY 20.23 billion for coal-fired power generation equipment, while Industrial Equipment contributed CNY 21.25 billion and Integrated Services CNY 14.91 billion. By segment, Energy Equipment revenue rose 21.4% to CNY 36.558 billion, Industrial Equipment revenue edged up 1.9% to CNY 18.954 billion, and Integrated Services revenue climbed 31.5% to CNY 10.862 billion. Overseas, Shanghai Mitsubishi Elevator won the Dubai Palm Island Phase II contract to supply 700 high-end elevators, the power transmission and distribution business won a contract for high- and low-voltage switchgear at a hyperscale data center in Finland in its first large-scale entry into Europe's high-end market, and the company signed the Minety Phase II Stonehill Energy Storage Project at 50 MW/150 MWh in the UK. The company also secured the EPC contract for the Lanzhou New Area 100,000-ton/year biomass green methanol project Phase I, holds offshore wind orders exceeding 2 GW, and saw its SUYUAN 2.0 humanoid robot make its domestic debut.
Thai stocks ride AI wave as foreign capital jumps 80% in first half of 2026
The global AI investment wave is driving foreign capital into Thailand's infrastructure sectors, including data centers, power systems, cooling systems, PCB and storage. Data from Kasikorn Thai shows that in the first half of 2026, Thailand received investment promotion applications totaling 1.47 trillion baht, up 37% from a year earlier, while foreign capital rose 80% to 1.36 trillion baht, led by the digital and electronics industries. Among the stocks seen as direct beneficiaries is DELTA, which makes power supply and cooling systems for data centers and is ramping up commercial production of liquid cooling systems. HANA is viewed as the Thai stock market's new AI proxy, with AI-related products set to enter production lines in the second half of 2026. KCE is expected to benefit from the semiconductor upcycle and tight PCB supply, which could support selling prices and profits in the second half of 2026. SMT gains from the shift to optical connectivity, while CCET benefits from rising demand for both HDD and SSD storage as AI computing generates massive volumes of data. INSET has seen a flood of project inquiries, while WHA and AMATA stand to gain because data center businesses use roughly 12 to 16 times more electricity and water than general industrial plants, meaning industrial estate revenue does not end on the day land is sold but continues through long-term utility income. If foreign capital flows and data center investment accelerate further in 2027, the Thai stock market may see an increasingly clear picture of an AI ecosystem.
Anutin Declares Thailand Will Not Choose Between Security and Sustainability, Backs Rooftop Solar with 50 Billion Baht Fund
Prime Minister Anutin Charnvirakul declared on the Gastech 2026 stage that Thailand will not choose between security and sustainability alone, but must have both at a price that people and businesses can afford. Natural gas and LNG remain the backbone during the transition, while energy sources are being diversified to reduce risks from global market prices. The government is preparing a 50 billion baht fund starting in mid-October to support households installing rooftop solar to cut electricity bills. Energy Minister Akanat Promphan is pursuing an LNG strategy alongside hydrogen, ammonia, and CCS, aiming for Net Zero 2050. Thailand is also opening applications for the 26th petroleum exploration and production licensing round covering over 60,200 square kilometers. In the first half of the year, the BOI received investment promotion applications exceeding 1.43 trillion baht, up 37% driven mainly by digital, clean energy, and technology.
Warut Thammavaranucupt, Chief Executive Officer of Sermsang Power Corporation Public Company Limited, or SSP, is preparing to bid on projects under the draft PDP 2026, which sets new generating capacity in the first 12 years from 2026 to 2037 totaling over 50,900 megawatts, divided into 9,100 megawatts of CCGT, 300 megawatts of SMR, 24,300 megawatts of solar, 2,700 megawatts of wind, and 14,500 megawatts of BESS. SSP previously won FiT projects for 2022 to 2030 totaling 170.5 megawatts and currently has about 420 megawatts of projects in hand, including solar in Thailand and the Bago wind farm in the Philippines. It is preparing for commercial operation of two community waste-to-energy plants totaling 19.8 megawatts in the fourth quarter of 2026, with more than 146 megawatts of projects gradually coming online through 2030. The company aims to push its renewable energy generating capacity to 1,000 megawatts by 2032.
The Securities and Exchange Commission has appointed Apisit Suksakorn as Assistant Secretary-General for the Digital Technology line, effective January 1, 2027, responsible for overseeing information technology risk, data management and analytics, and information technology. Meanwhile, Jintana Kingkaew, Deputy Managing Director of Siam Gas and Petrochemicals Public Company Limited, or SGP, received the Carbon Footprint for Organization, or CFO, certificate for the second consecutive year after the company began its carbon footprint assessment project in 2021.
GULF plans 5-year investment of 140 billion baht to push data centre capacity to 2,000 megawatts
Gulf Development Public Company Limited, or GULF, has announced a major investment plan over the next five years worth as much as 140 billion baht to expand its data centre and digital infrastructure businesses and capture the growth of AI technology. The company aims to raise its data centre capacity to as much as 2,000 megawatts, up from roughly 200 megawatts at present. Chief Executive Officer Sarath Ratanavadi said the private sector is ready to take part in developing power projects of all types under the new Power Development Plan, or PDP, including solar, wind, battery energy storage and natural gas-fired power plants, as well as studying small modular reactor technology. The PDP targets power generation capacity of 50,000 megawatts, and the company sees opportunities in the free electricity business, such as selling green power to large electricity users. On the data centre side, GULF agrees with the government's move to set clear definitions and regulations, noting that demand in Thailand is very high from users of various social media platforms. The company has also joined hands with Singtel Group to take part in developing the Vietnam-Thailand-Singapore Cable System, a submarine cable network linking Vietnam, Thailand and Singapore on an open access basis, with a project value in the tens of billions of baht and service scheduled to begin in 2030.
PPL's Kentucky Pipeline Jumps 6% to 13.7 GW on Data Center Demand
PPL Corporation reported a 6% sequential increase in its Kentucky economic development pipeline to 13.7 gigawatts of potential load growth in its second-quarter 2026 update, comprising 11.6 gigawatts from data centers and 2.1 gigawatts from manufacturing and other projects. Projects backed by signed reimbursement agreements rose to 1.3 gigawatts from roughly 0.9 gigawatts in the first quarter of 2026. PPL's probability-weighted forecast points to 3.7 gigawatts of new load by 2032, more than double the amount in its 2025 Certificate of Public Convenience and Necessity filing, and the company may file a new CPCN by year-end for resources including the 266 megawatts Lewis Ridge project, 400 megawatts of deferred batteries and additional natural-gas generation. Those projects could represent $3.5 billion to $4 billion of incremental investment between 2027 and 2032, part of PPL's roughly $23 billion investment plan through 2029 that supports annual rate-base growth of 10.3% and earnings per share growth at the upper end of its 6-8% target. The Zacks Consensus Estimate implies 2026 and 2027 EPS increases of 7.18% and 8.32%, respectively, while PPL's debt-to-capital of 57.46% sits below the electric power industry's 61.32% and its shares have fallen 12.8% over the past six months versus an 11.1% industry decline.
Malta Inc. and Kobe Steel Form Capital and Business Alliance
Malta Inc. announced a capital and business alliance agreement with Kobe Steel, Ltd., under which Kobe Steel has made a strategic investment in the cleantech company and joined its global investor base. The alliance pairs Malta's proprietary ultra-high temperature heat pump technology with Kobe Steel's decades of experience in compression solutions, with the companies intending to combine their technologies, expertise, and know-how to accelerate development, commercialization, and widespread adoption of Malta's solutions for industrial energy cost reduction, process reliability, decarbonization, waste heat recovery, and energy storage. Philippe Delleville, President and CEO of Malta Inc., said Kobe Steel's leadership in steam compression technology is highly complementary to Malta's steam management platform and will help accelerate commercialization of its heat pump technology for industry and its implementation in grid-scale energy storage. For Kobe Steel, the investment aligns with green transformation initiatives under its KOBELCO-X strategy, while for Malta the partnership strengthens its investor base as it scales commercial deployment. Malta, which originated from X, formerly Google X, is backed by Kobe Steel, Cox Energy, Breakthrough Energy Ventures, X, Siemens Energy Ventures, Alfa Laval, Proman, and Chevron Technology Ventures, among other investors.
Tesla Gets Buy Rating and $389.34 Target as Robotaxi and Optimus Build $465 Bull Case
24/7 Wall St. rates Tesla a buy with a $389.34 price target, implying 6.54% upside from the current price of $365.44 at 90% confidence. Tesla's Q2 FY26 delivered a record 480,126 deliveries and revenue of $28.24 billion, up 25.5% year over year, but non-GAAP EPS of $0.33 missed the $0.54 estimate, CapEx more than doubled to $5.79 billion, and free cash flow swung to negative $1.09 billion. The bull case points to $465.56, or 27.4% upside, citing Robotaxi's more than 380,000 miles of unsupervised operation, Optimus targets of 1 million units a year for Gen 3 and 10 million for Gen 4, and energy deployments of 13.5 GWh in Q2 with Megapack 3 launching in 2026. At a trailing P/E of 380, Tesla has little margin for error, with operating margin compressed to 1.4% in Q2 and management guiding CapEx above $25 billion for 2026, while the bear case one-year target is $351.77. By comparison, NVIDIA trades at a P/E of 44 with a 60% operating margin, and Alphabet, whose Waymo logs 500,000 fully autonomous rides a week, trades at a P/E of only 15.
GM Targets Domestic Battery Supply Chain Within Three Years
General Motors is developing a domestic battery supply chain it expects to complete within two to three years, even as it currently relies on some Chinese-sourced materials for existing battery production. Kurt Kelty, GM's vice president of battery and sustainability, told CNBC the company's near-term goal is full domestic sourcing, centered on sodium-ion battery cells GM is developing with Denver-based startup Peak Energy for stationary energy storage in homes, businesses, and data centers. GM expects commercial production of those cells around 2029, and a GM spokesperson confirmed the same domestic sourcing priority would apply to battery cells for future electric vehicles. Sodium-ion cells are built around sodium from soda ash, which the U.S. holds in abundance, sidestepping the lithium and ferrous sulfate supply chains China currently controls, and Kelty said they handle a broader span of temperatures, removing the need for active thermal management. GM has committed $900 million to new battery research facilities at its suburban Detroit campus, including a cell prototyping building exceeding 500,000 square feet scheduled to open before the end of the year. The comments came as Ford faced criticism from the Trump administration over its battery sourcing, with Transportation Secretary Sean Duffy saying last week he had "profound concern" over Ford's licensing of technology from Chinese battery manufacturer CATL for its Marshall, Michigan plant, while Ford CEO Jim Farley called the charges "basic misunderstandings, mistruths" and the White House posted that Ford is "a GREAT American company."
EGAT rushes to expand eastern grid to 900 MW for data centers, studies 300 MW nuclear SMR
The Electricity Generating Authority of Thailand, or EGAT, is accelerating the expansion of its transmission system in the eastern region to meet rising electricity demand, particularly from data centers. Earlier this year, the system's capacity was already increased by about 550 megawatts, and it is expected to rise to roughly 900 megawatts by the end of this year, according to EGAT Governor Narin Phoawanich. At the same time, EGAT is studying the development of small modular nuclear reactors, or SMRs, estimating that the first plant could have a capacity of about 300 megawatts, and that if it proceeds under the national Power Development Plan, or PDP, it could take about 10 years. On biomass fuel, EGAT aims to blend it with coal at the Mae Moh power plant at a ratio of about 5%, up from previous trials of less than 1%. Meanwhile, battery energy storage systems, or BESS, have been installed with a combined capacity of 37 megawatts, comprising 16 megawatts at the Bamnet Narong substation and 21 megawatts at Chai Badan, with plans to add another 100 to 200 megawatts, targeting about 200 megawatts by the end of next year. For the investment budget in 2027, preliminary estimates put it at around 40 billion to 50 billion baht.
SUPER eyes 1,500 MW community solar tender, targets 200 MW
Super Energy Corporation, or SUPER, is preparing to expand its renewable power plant portfolio by seizing investment opportunities under Thailand's draft Power Development Plan, PDP2026, which covers the years 2026 to 2050 and sets a new power generation framework of roughly 50,900 megawatts, with an emphasis on clean energy including solar, wind and battery energy storage systems, or BESS. SUPER Chief Executive Officer Jomsap Lojaya said the company is interested in joining the community solar project, which has a combined capacity of 1,500 megawatts, and aims to secure about 200 megawatts of capacity from that project. If it meets that target, it will add renewable power generation capacity to the company's portfolio and support growth opportunities going forward. SUPER is also monitoring investment opportunities from other clean energy projects under PDP2026, particularly solar, wind and BESS projects, which are playing a growing role in the country's power generation mix.
SSP ready to compete for PDP 2026 quotas, targets 1,000 MW of capacity by 2032
SSP, or Sermsang Power Corporation, has announced it is fully ready, both financially and in terms of capability, to take part in the bidding for solar and wind farm projects under the draft national power development plan, or PDP 2026, which sets total new capacity of 50,900 megawatts over the first 12 years, from 2026 to 2037. The plan comprises 9,100 megawatts of combined-cycle power plants, 300 megawatts of small nuclear power plants, 24,300 megawatts of solar energy, 2,700 megawatts of wind energy and 14,500 megawatts of battery energy storage systems, before branching into options for clean energy goals after 2037, covering the CCS approach, renewable energy paired with energy storage systems, and a combination of both. Every option sets a clean energy share of no less than 65% in 2050. Chief Executive Officer Warut Thammavaranucupt said the company aims to expand its clean energy power plant portfolio and invest more in the country. In the past, SSP was among the successful bidders in the Feed-in Tariff renewable energy power purchase programme for 2022 to 2030, with a total of 170.5 megawatts, divided into seven solar power plants with total contracted capacity of 154.5 megawatts and two wind power plants with total contracted capacity of 16 megawatts, out of the first phase of the programme, which offered purchases totalling 5,203 megawatts. At present, the company is preparing for commercial operation dates for two community waste-to-energy plants with total installed capacity of 19.8 megawatts, expected to begin supplying electricity in the fourth quarter of 2026. It also has about 420 megawatts of projects in hand, comprising three solar farms in Thailand totalling 108.6 megawatts and the 150-megawatt Bago wind farm in the Philippines, which will gradually reach commercial operation in 2027. In addition, it plans commercial operation dates for other projects continuing through 2030 for more than 146 megawatts, which does not yet include opportunities to win bids under the PDP 2026. The company targets expanding its renewable power plant capacity of all types to 1,000 megawatts by 2032 and expects to reach that sooner than anticipated.
Trina Storage and AMP-lify Sign MoU for 1 GWh of Japan Battery Storage
Trina Storage, the energy storage business unit of Trinasolar, has signed a Memorandum of Understanding with the Japanese clean energy platform AMP-lify to supply approximately 1 GWh of grid-connected battery energy storage system equipment for AMP-lify's projects in Japan. Under the agreement, Trina Storage will supply its Elementa 3 series BESS and provide related technical support, with its Japan team handling system configuration, technical consultation, delivery coordination and after-sales service. The Elementa 3 uses Trina Storage's in-house 587Ah high-capacity cell and offers up to 6.25 MWh per container for larger utility-scale sites, while the 1.56 MWh Elementa 3 Flex is designed for projects constrained by transport access, limited land or proximity to communities, with an approximately five-square-metre footprint, a weight of about 13 tonnes for standard-truck transport, operating noise of 65 dB or less and modular expansion. The deal comes as Japan's Seventh Strategic Energy Plan projects renewable energy at approximately 40 to 50 percent of power generation in fiscal year 2040 and calls for storage batteries to help balance renewable output. Martin Stein, Representative Director and CEO of AMP-lify, said the cooperation gives the company a strong basis to move projects from site evaluation through construction into reliable operation, while Dr Leo Zhao, Head of Energy Storage at Trinasolar Asia Pacific, cited Japan's road weight limits, narrow site access, mountainous terrain, community noise expectations, seismic design and coastal conditions as factors the two sides can address from the earliest stages of development. Trina Storage has been recognized as a BloombergNEF Tier 1 energy storage supplier for 11 consecutive quarters.
STPI invests 135 million baht for 60% stake in Daisy Drive, pursuing 55 MW solar project to serve data center
STP & I Public Company Limited, or STPI, disclosed through the Stock Exchange of Thailand that its board of directors has approved a resolution for Impact Solar Group (Thailand) Company Limited, or ISGT, a subsidiary, to invest in the purchase of ordinary shares of Daisy Drive Company Limited, or Daisy Drive, from Impact Electronics Siam Company Limited, or IES, representing 60% of the issued and paid-up shares. The shares have a par value of 10 baht each and a paid-up value of 2.5 baht each, for a total investment value of 1.5 million baht, with the share purchase expected to be completed within September 2026. Daisy Drive plans to invest in a solar power plant project with a generating capacity of 55 megawatts, along with a 40 MWh energy storage system, to support clean energy for a data center project, with a total investment value of approximately 1.419 billion baht, funded by loans and support from the Japanese government under the Joint Crediting Mechanism, or JCM. STPI will be responsible for an investment of approximately 135 million baht in this transaction, and the 60% investment stake will make Daisy Drive a subsidiary of the company, requiring disclosure of information to the Stock Exchange of Thailand.