Final bids for Orsted's Europe onshore wind business are expected this week and ENGIE and Copenhagen Infrastructure Partners are among the top contenders, sources say. The sale aligns with Orsted's efforts to strengthen its balance sheet after facing challenges in the US market. Most of the unit's assets are in Ireland, with some additional sites in the UK and Germany.

Lake Erie Energy Development Corp. is suing FirstEnergy for monetary damages stemming from the collapse of the 6-turbine Icebreaker offshore wind project planned for Lake Erie. The project ultimately failed to advance due to a regulatory decision that imposed restrictions that made the project unfeasible, but LEEDCo alleges that FirstEnergy played a role in that process by bribing officials.

BP and Shell have both significantly dialed back their green transformation strategies, ultimately losing billions of dollars on initiatives that seemed to have a bright future just a few years ago. This piece takes a closer look at what went wrong, including the challenges they faced trying to evolve from fossil fuel to energy majors, a lack of internal buy-in from oil and gas teams and organizational changes that created confusion.

The Treasury Department is four months behind on schedule on sharing guidance for the Big Beautiful Act's Foreign Entities of Concern provision, putting the industry in a sticky situation. Crux reports that 90% of surveyed companies are preparing for the FEOC rules, but are flying relatively blind without federal insight. Companies with partial ownership by entities from the targeted countries are considering measures like liquidating stakes or renegotiating contracts.

Texas oilfields are emerging as early test beds for geothermal systems that use drilling and fracking techniques to store energy underground and generate electricity on demand. With crews, rigs and expertise already in place, geothermal developers such as Sage Geosystems and Fervo Energy are finding willing partners among oil and gas workers, executives and state lawmakers. Industry advocates are framing geothermal energy as "inexhaustible" rather than "renewable" to win support from Republican officials and sidestep polarized climate debates.

Utility-scale battery costs declined by 40% in 2024 and will likely continue to fall -- which is great news for solar, reports Ember. That's because the trend is making it more affordable to store solar power for use later and giving the energy source a leg up on fossil fuels. "Solar is no longer just cheap daytime electricity, now it's anytime dispatchable electricity," says Ember's Kostantsa Rangelova.

Cheap solar is great news for most of the world, but not so much for manufacturers like JinkoSolar that are struggling with declining profitability due to low panel prices. The trend has exposed a hidden cost, which is that companies may lack economic incentives to scale solar manufacturing and recycling initiatives as prices plummet. Analysts note that balanced pricing and disciplined capacity could help address the issue, but part of the solution requires valuing the full cost of clean energy.

ExxonMobil's low-carbon strategy has taken another hit, with the oil and gas major confirming plans to cut spending for related projects by one-third. The move is expected to generate $5 billion in earnings and cash flow by 2039 and aligns with its plan to scale oil and gas exploration and production.