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EIB Grants $1.2 Billion Credit for Belgian Wind Power Transmission

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The European Investment Bank has granted a 1 billion euro ($1.16 billion) credit facility to Elia Transmission Belgium to develop the second phase of the Princess Elisabeth energy island, it said on Monday.

The Princess Elisabeth project is an artificial island that will serve as an energy hub to allow development of new offshore wind capacity in Belgium and to enhance grid integration of existing and future generation capacity.

The EIB loan, which the bank said was the largest ever granted for energy infrastructure in the Benelux region, will be used to construct a high-voltage substation, transformers and grid connections to the mainland.

In 2024, the project's first phase secured an EIB credit line of 650 million euros.

The energy island is expected to reduce the country's reliance on imported fossil fuels and balance the power grid. It will connect the country's second offshore wind farm to the main electricity grid.

The island is expected to connect offshore wind capacity beginning in 2031, according to the statement.

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Commodities

US Power Update: Electricity Prices Mixed Monday as Gas Dominates Generation Mix in Key Markets

US electricity prices were mixed across major markets Monday afternoon, with intraday prices reaching as high as $191.73 per megawatt-hour and falling as low as-$36.78/MWh, according to GridStatus.io data.ERCOT's real-time locational marginal price stood at $29.93/MWh at 4 p.m. ET. Net load was 47.78 gigawatts, while natural gas accounted for the largest share of the generation mix at 39.7%.CAISO's real-time LMP came in at $25.31/MWh at 4 p.m. ET. Net load reached 4.38 GW, with solar making up the largest portion of the generation mix at 60.2%.Southwest Power Pool's real-time LMP was $4.05/MWh at 4 p.m. ET. Net load totaled 36.02 GW, with natural gas accounting for the largest share of the generation mix at 31.7%.PJM's real-time LMP stood at $30.98/MWh at 4 p.m. ET. Net load was 98.02 GW, with gas providing the largest share of the generation mix at 40.3%. Prices rose to an intraday high of $191.73/MWh at 1:45 p.m. ET.MISO's real-time LMP came in at $17.88/MWh at 4 p.m. ET. Net load totaled 67.49 GW, while coal accounted for the largest share of the generation mix at 28%.NYISO's real-time LMP was $28.18/MWh at 4 p.m. ET. Net load reached 16.56 GW, with dual-fuel making up the largest share of the generation mix at 27.4%.ISO New England's real-time LMP stood at $24.13/MWh at 4 p.m. ET. Net load was 9.91 GW, while natural gas represented the largest share of the generation mix at 35.2%. Prices fell to an intraday low of negative $36.78/MWh.IESO's real-time LMP came in at $43.83/MWh at 4 p.m. ET. Net load was 17.19 GW at 3:55 p.m. ET, with nuclear accounting for the largest share of the generation mix at 46%.The National Weather Service's Climate Prediction Center forecasts above-normal temperatures across much of the western and southern US from Sept. 15 to Sept. 21, with below-normal and near-normal readings across much of the Midwest and Northeast.

Commodities

DoGo Power Expands into Mali with Grid-Forming Energy Storage

DoGo Power said on Monday that it is expanding into Mali with grid-forming energy storage systems as the Chinese power technology company seeks to tap growing demand for more reliable electricity.The energy firm is targeting commercial and industrial customers as well as utility-scale power projects, where its storage systems can be paired with solar and diesel generation to provide backup power and reduce reliance on fuel-fired generation.The country's solar potential offers another incentive for investment. Mali receives over 3,000 hours of sunshine a year on average, providing favorable conditions for combining photovoltaic generation with battery storage.DoGo Power said its grid-forming technology is designed to maintain power for critical loads during grid fluctuations and outages. The systems can also be integrated into solar-storage-diesel configurations, allowing users to increase renewable energy consumption while reducing diesel use.

Commodities

NANO Nuclear, Enveniam Sign MOU to Explore US Nuclear Fuel, Microreactor Projects

NANO Nuclear Energy (NNE) and Enveniam will explore a broad nuclear partnership under a non-binding memorandum of understand covering fuel, microreactors and energy infrastructure, NANO Nuclear said Friday.The agreement will draw on Enveniam's nuclear engineering, safety, licensing, and project integration expertise to support NANO Nuclear's reactor, fuel fabrication, and transportation programs.The companies will assess cooperation across six areas, including HALEU fuel transportation, uranium conversion and deconversion, and commercialization support for NANO Nuclear's KRONOS MMR Energy System and portable microreactors.They will also examine advanced manufacturing and domestic fuel supply chains as part of efforts to strengthen nuclear production and support future reactor deployment.The companies will also explore reliable power and process heat for data centers and remote users, including desalination and hybrid systems pairing microreactors with renewable generation, subject to feasibility, financing, and licensing.NANO Nuclear and Enveniam plan to form a joint working group to review opportunities, identify projects for funded work, and pursue federal or state funding, while each company retains control of its own commitments."NANO Nuclear is building a vertically integrated platform spanning microreactors, nuclear fuel, and transportation, while Enveniam brings extensive experience integrating complex nuclear and energy programs," said Jay Yu, Founder and Chairman of NANO Nuclear Energy.Price: $17.72, Change: $+0.07, Percent Change: +0.40%

$NNE