As of June 16, 2025, draft legislation released by the Senate Finance Committee will terminate or scale back most of the major tax incentives for clean energy contained in the Inflation Reduction Act of 2022. [1] Senate Republicans proposed to end most tax breaks for wind and solar power, electric vehicles, and other clean energy, contrary to expectations. The plan would eliminate a $7,500 consumer tax credit for electric vehicle purchases and home energy rebates, within 6 months. In addition, a tax credit for homeowners who install solar panels on rooftops would end in 180 days, and a subsidy for making hydrogen fuels would expire this year. Federal tax credits for wind and solar power will be rapidly phased out, and wind and solar companies will qualify for full tax breaks only if they start construction in the next 6 months. The House version of the bill would have ended those tax breaks immediately. Notably, the Senate bill would preserve tax credits for companies that build nuclear reactors, geothermal plants, hydropower dams or battery storage through 2033. The Senate draft, like the House bill, would also make solar leasing companies ineligible for federal tax credits.
[USA] States and ratepayer advocates urge FERC to reject MISO petition
As of June 13, 2025, state utility regulators and ratepayer advocates are urging the Federal Energy Regulatory Commission (FERC) to reject a Midcontinent Independent System Operator (MISO) petition that requests the agency to declare that “unsolicited” long-range transmission planning, monitoring, and evaluation is outside the scope of its market monitor’s duties. [1] Market monitors from the PJM Interconnection, MISO, and ISO New England said that transmission planning and market oversight are linked. [2] Potomac Economics (PE), which serves as the independent market monitor for MISO, argued that there are not many coherent arguments indicating that transmission planning does not affect MISO’s markets and services. [3] Yet, MISO transmission owners like Ameren, Duke Energy, and Entergy support minimizing PE’s role in transmission planning, asserting that unsolicited monitoring and evaluation of MISO’s transmission planning activities are beyond the scope of PE’s tariff-assigned responsibilities. They argue that PE should not be entitled to compensation funded by MISO customers. The petition originated from PE’s criticism of MISO’s needs and cost-benefit analysis that underlie its roughly $22 billion Tranche 2.1 transmission portfolio that was approved in December. MISO asked FERC to declare that unsolicited transmission planning and monitoring are outside the scope of PE’s engagement under MISO’s tariff and that the grid operator does not have to pay for the activities.
[Japan] JERA announces milestone agreements with US partners to secure up to 5.5 million tonnes of new long-term LNG supply annually over 20 years
As of June 12, 2025, JERA has finalized 20-year agreements to procure up to 5.5 million tonnes per year of liquefied natural gas (LNG) from the US. [1] The agreements, which were introduced publicly at the US Department of Energy headquarters in Washington DC, advance JERA’s goal of building a diversified LNG procurement portfolio in support of stable energy for Japan and Asia. The agreements are expected to support economic activity worth $200 billion to the US GDP through long-term offtake commitments. The total value of these transactions surpasses JERA’s cumulative equity investment in the US, which is currently worth $6 billion. The agreements include sales and purchase agreements with NextDecade Corporation and Commonwealth LNG, as well as heads of agreement with Sempra Infrastructure and Cheniere Marketing LLC to secure future LNG supply from the US. The new agreements build upon JERA’s existing operations in the US, which include offtake contracts totaling 3.5 million tonnes per year.
[1] https://www.jera.co.jp/en/news/information/20250612_2184
[USA] Talen to sell 1.9GW from Susquehanna plant to Amazon
As of June 11, 2025, Talen Energy announced that it has entered into a 1,920-MW power purchase agreement with Amazon Web Services to supply data centers in Pennsylvania from the independent power producer’s majority-owned Susquehanna nuclear power plant. [1] Under the PPA, Talen’s existing 300-MW co-location arrangement with AWS will shift to a front-of-the-meter framework that doesn’t require Federal Energy Regulatory Commission approval. [2] In November, FERC rejected an amended interconnection service agreement that would have facilitated expanded power sales to a co-located AWS data center at the Susquehanna plant. [3] Talen expects to earn about $18 billion in revenue over the life of the contract at its full quantity, according to an investor presentation. The contract calls for delivering 840 MW to 1,200 MW in 2029 and 1,680 MW to 1,920 MW in 2032. Talen and Amazon will explore building small modular reactors in Pennsylvania and expanding Susquehanna’s output through uprates.
[2] https://elibrary.ferc.gov/eLibrary/filelist?accession_number=20241101-3061&optimized=false
[Japan] Japan certifies Proteus 1.1MW tidal turbine to export power to national grid
As of June 2, 2025, Proteus Marine Renewables’ AR1100 tidal turbine, which has a capacity of 1.1MW, has officially received certification from Japan’s Ministry of Economy, Trade, and Industry (METI), the national authority that regulates energy infrastructure and technology. [1] The certification confirms the system meets Japan’s regulatory standards for power generation, which marks a new chapter for tidal energy in the country. The turbine is currently exporting power to the national grid. METI conducted a thorough review and testing process to verify the turbine’s operational safety and reliability, and the certification was granted after successful performance under various tidal conditions. The turbine represents the next stage in Proteus’ roadmap for scaling tidal power, serving as the forerunner to the company’s most powerful turbine, the ARI3000. The deployment forms part of a long-standing collaboration between Proteus and Kyuden Mirai Energy Co., Inc. (KME) that is the representative company for the project. The collaboration aims to support Japan’s renewable energy transition, demonstrating that tidal energy has the potential to join Japan’s future energy mix. Proteus and KME are now continuing to explore additional opportunities for tidal generation capacity in Japan.
[USA] House Reconciliation Bill amends clean energy provisions of the IRA
As of May 22, 2025, the House of Representatives passed its reconciliation bill H.R.1, titled “One Big Beautiful Bill Act”, which amends the clean energy provisions that were enacted in the Inflation Reduction Act of 2022 (IRA). [1] The legislation proposes several significant changes to the IRA, including the removal of the investment tax credit and production tax credit for any facilities that are not under construction as of 60 days after enactment, as well as a full repeal of the EV credits. [2] Other credits that were removed include the Advanced Manufacturing Production Credit and the Clean Fuel Production Credit, which provide credit for domestic production of clean energy components and a tech-neutral credit for domestic production of low-emission transportation fuels, respectively. The IRA permits most clean-energy credits to be sold by taxpayers, which created a robust secondary market, allowing sponsors with limited or no tax capacity to monetize the credits and raise capital. However, the legislation would undo this system for some forms of tax credits, including those under certain sections. The legislation would repeal the transferability of projects that begin construction two years after the date the legislation is enacted, which may be anytime from July to August 2025.
[1] https://www.congress.gov/bill/119th-congress/house-bill/1?utm_=
[USA] DOE Secretary Chris Wright terminates 24 Biden-era clean energy projects worth $3 billion
As of May 30, 2025, the US Secretary of Energy Chris Wright announced the termination of 24 awards that were issued by the Office of Clean Energy Demonstrations (OCED) under the Biden administration, totaling $3.7 billion. [1] The projects primarily included funding for carbon capture and sequestration (CCS) as well as decarbonization. [2] Sixteen of the 24 terminated awards were signed between November and January 20. The awards were cancelled under a review process that the Department of Energy (DOE) released earlier in May 2025, under which 179 awards worth $15 billion were being reviewed. The review process was outlined in a Secretarial Memorandum entitled “Ensuring Responsibility for Financial Assistance”, which illustrated DOE’s policy for evaluating financial assistance on a case-by-case basis. Among the recipients of the cancelled awards are Calpine, Ørsted, PPL Corp., and Exxon Mobil Corp.
[Japan] NYK unveils Japan’s first fully battery-driven work vessel
As of May 23, 2025, Nippon Yusen Kaisha (NYK) unveiled Japan’s first fully battery-driven work vessel, which has been named e-Crea (pronounced “éclair”). [1] Keihin Dock Co. Ltd., an NYK Group company, built the vessel at Koyasu Shipyard. The vessel is designed without an onboard diesel generator and will support the docking and undocking of tugboats at Koyasu Shipyard. NYK Group aims to achieve low- and zero-carbon vessel operations by advancing the implementation of new technologies, such as this. This project came about in response to the growing global demand for decarbonizing maritime transportation, prompting NYK Group to explore next-generation fuels like ammonia. This initiative was spearheaded by Keihin Dock, NYK’s sole shipbuilding subsidiary. e-Crea is powered solely by batteries charged from shore facilities at Koyasu Shipyard and operates without emitting any carbon dioxide. The vessel also features a compact design measuring 9 meters in length and a compact hull, enabling maneuverability in confined spaces. The data and insights gained from e-Crea’s operation will be reflected in the development of an electric-propulsion tugboat scheduled for completion in December 2026.
[USA] DOE orders 1.6-GW coal-fired power plant to delay shutdown
As of May 23, 2025, the US Department of Energy (DOE) directed Consumers Energy to delay the shutdown of a 1,560-MW coal-fired power plant in Michigan by about 3 months, citing concerns of possible power outages in the Midcontinent region this summer. [1] To determine that the J.H. Campbell power plant in West Olive, Michigan should run until August 21 rather than May 31, DOE referenced a North American Electric Reliability Corporation (NERC) report that found that the Midcontinent Independent System Operator (MISO) faces an elevated risk of power outages during high demand and lower power output periods of the summer. [2] The NERC report found that MISO, the Electric Reliability Council of Texas (ERCOT), ISO New England, and the Southwest Power Pool were at elevated risks of not having enough power supplies during the peak demand periods. Energy Secretary Chris Wright cited a MISO report to explain that while the results demonstrated sufficient capacity, the summer months reflected the highest risk and a tighter supply-demand balance, suggesting the need to increase capacity. Wright ordered MISO to dispatch the Campbell plant economically to minimize ratepayer costs and DOE issued the emergency order without a request from the plant owner, transmission provider, or grid operator.
[2] https://cdn.misoenergy.org/2025%20PRA%20Results%20Posting%2020250428694160.pdf
[USA] Trump signs executive order to deploy new nuclear capacity and oversight
As of May 23, 2025, President Trump signed an executive order initiating a plan to deploy 300 GW of net new nuclear capacity by 2050, with 10 large reactors under construction in the US by 2030, while expanding nuclear fuel supplies. [1] President Trump also signed 3 other orders to accelerate Nuclear Regulatory Commission reviews of reactor license applications and reconsider NRC radiation limits. [2] The orders also aim to expand Energy and Defense roles in nuclear power plant licensing and siting and speeding up new test reactor deployment. The order includes a directive to review the statutory authorities to identify any legislative changes needed to achieve the aforementioned national policy, as well as an evaluation of the reprocessing and recycling of spent nuclear fuel from the operation of Department of Defense and Department of Energy reactors. Another order calls on the Secretary of Energy to release at least “20 metric tons of high-assay low-enriched uranium into a readily available fuel bank for private sector projects operating nuclear reactors to power AI infrastructure at DOE sites.” Staffing reductions and budget cuts at DOE and NRC could undermine some of these efforts, making it harder to implement the executive orders. Furthermore, the involvement of federal departments to license and oversee projects could create additional red tape as companies navigate between more than one new oversight body.
[Japan] 16 organizations announce launch of joint research initiative to achieve carbon-neutral society through MEIT program
As of May 19, 2025, Nippon Steel Corporation announced that 16 more organizations, including University of Tokyo, Kobe Steel, ClassNK, JFE Steel Corporation, JERA Co., and Tokyo Gas Network, among others, have jointly established a Social Collaboration Program entitled “Materials for Future Energy Infrastructure Trust (MEIT) to elucidate and standardize the material reliability of energy infrastructure to support a carbon-neutral society. [1] The research commenced on the 1st of May 2025. Kobe Steel, JFE Steel Corporation, and ClassNK play lead roles. The program aims to evaluate the material reliability essential for ensuring the long-term integrity of infrastructure and cargo or fuel tanks for decarbonized energy carriers like liquefied hydrogen, ammonia, and liquefied and high-pressure CO2 in carbon capture and storage (CCS) projects. The program will establish material selection criteria, post-weld heat treatment omission standards and fracture prevention criteria to optimize construction costs and promote international standardization that contributes to a sustainable energy society.
[USA] TXNM Energy enters agreement to be acquired by Blackstone Infrastructure
As of May 19, 2025, it was announced that Blackstone Infrastructure will acquire utility company TXNM in a $11.5 billion deal, including debt, as the firm bets on rising US electricity demand and a shift to cleaner energy sources. [1] As of early March, the deal valued TXNM at $61.25 per share, representing a 23% premium to TXNM Energy’s unaffected 30-day volume-weighted average price (VWAP). Blackstone, with $60 billion of assets, is betting that stable, regulated returns and high capital needs in grid modernization make TXNM a long-term investment fit. Blackstone is also investing $400 million through the purchase of 8 million newly issued shares of TXNM Energy common stock at $50 per share, by way of a private placement agreement, in order to support TXNM’s growth plans. The deal requires regulatory approvals from the New Mexico Public Regulation Commission (NMPRC), Public Utility Commission of Texas (PUCT), the Federal Energy Regulatory Commission (FERC), the Department of Justice, the Nuclear Regulatory Commission, and the Federal Communications Commission.
[USA] Energy Department announces emergency actions to provide overdue relief to Puerto Rico power grid
As of May 16, 2025, the Department of Energy (DOE) announced new emergency actions intended to provide immediate assistance to Puerto Rico and strengthen the island’s failing power system. [1] Puerto Rico’s most recent island-wide blackout occurred a month ago, which has resulted in Energy Secretary Chris Wright issuing two emergency orders authorized by the Federal Power Act Section 202 (c) to address grid security issues and improve grid resiliency. The orders were issued by the Office of Cybersecurity, Energy Security, and Emergency Response (CESER), and aim to unlock emergency protocols and empower Puerto Rico’s government to address immediate problems plaguing the fragile grid system. This is especially critical to prevent further outages ahead of peak summer demand. Additionally, the DOE’s Grid Deployment Office (GDO) will review the $365 million in funding from the Puerto Rico Energy Resilience Fund (PR-ERF) to ensure all DOE assistance is used to support practical fixes to the grid. The first emergency order directs the Puerto Rico Electric Power Authority (PREPA) to dispatch generation units necessary to expand baseload generation for the island and maintain grid reliability. The second directs PREPA to perform vegetation management to reduce risk of shortages and fire.
[Japan] METI signs memorandum with Ministry of Industry and Trade of the Socialist Republic of Vietnam
As of April 29, 2025, the Ministry of Economy, Trade, and Industry of Japan (METI) and the Ministry of Industry and Trade of the Socialist Republic of Vietnam signed a Memorandum of Cooperation (MOC) on the promotion of bilateral cooperation projects for energy transitions. [1] Both sides signed it, reaffirming the Asia Zero Emission Community (AZEC) principles, especially since it involves pursuing a common goal of net-zero or carbon-neutrality. This pathway addresses economic growth, energy security, and decarbonization simultaneously. Based on this, Japan and Vietnam will proceed with discussions that aim to promote the implementation of the projects for offshore wind, power grid development, decarbonization of industrial zones, and more.
[USA] PJM and utilities want FERC to dismiss the call for colocation settlement discussion
According to a May 5, 2025, filing, PJM transmission owners think that the national interest would be best served by a quick dismissal of the proceeding of a 90-day pause in deliberations over the PJM Interconnection’s rules for colocating data centers at power plants. [1] They urge the Federal Energy Regulatory Commission (FERC) to dismiss a call for stakeholder settlement talks to instead encourage parties to focus on obtaining service under the rules currently in place. [2] The transmission owners include American Electric Power, Dominion Energy, Duke Energy, Exelon, FirstEnergy, and PPL Electric. The outcome of FERC’s review could set a precedent for colocated load in the power markets the agency oversees, arriving during a surge in data center development in the US.
[USA] Energy Department slashes 47 costly regulations in mass deregulatory effort
As of May 12, 2025, the US Department of Energy announced the first step in its largest deregulatory effort, proposing the elimination or reduction of 47 regulations. [1] These actions include elimination or modification to consumer appliance standards, regulations limiting building and energy production, and Diversity, Equity, and Inclusion (DEI) requirements for grant recipients. [2] The list of regulations targets many longstanding energy efficiency standards for appliances. Trump also signed a series of bills eliminating regulations that were enacted at the end of the Biden administration, making them subject to the Congressional Review Act. This means that Congress and the president can undo rules passed at the end of a previous administration more easily. The rules covered tankless natural gas water heaters, commercial refrigerators, freezers, and walk-in coolers.
[2] https://clyde.house.gov/news/documentsingle.aspx?DocumentID=3143
[Japan] Marubeni and ExxonMobil’s low-carbon ammonia deal marks major step in unleashing new energy supply
As of May 7, 2025, Marubeni Corporation and Exxon Mobil Corporation have signed a long-term offtake agreement for approximately 250,000 tonnes of low-carbon ammonia per year from ExxonMobil’s facility in Texas. [1] The facility is expected to produce carbon-free hydrogen with approximately 98% of CO2 removed and low-carbon ammonia. The ammonia will be supplied by Marubeni to Kobe Power Plant, a fully owned subsidiary of Kobe Steel. Marubeni also agree to acquire an equity stake in ExxonMobil’s low-carbon hydrogen and ammonia facility. The facility is expected to be the world’s largest of its kind, capable of producing up to 1 billion cubic feet (bcf) daily of low-carbon hydrogen, and more than 1 million tons of low-carbon ammonia per year. By Japan’s fiscal year 2030, Kobe Power Plant aims to co-fire low-carbon ammonia with existing fuel, reducing CO2 emissions.
[USA] DOE halts fossil fuel ban for federal buildings
As of May 5, 2025, the Department of Energy (DOE) announced that it has delayed the compliance date for new provisions regarding Clean Energy for New Federal Buildings and Major Renovations of Federal Buildings (CER). [1] The action delays the standards from the previous administration to limit the use of energy sources such as coal and natural gas, to power federal buildings. The original regulations, issued on May 1, 2024, required certain new federal buildings and federal buildings undergoing major renovations to reduce their fossil fuel-generated energy consumption. The delay will be implemented as DOE reviews recently released implementation guidance and a template for petitions for downward adjustments. This review is being undertaken to ensure alignment with the current administration's new energy policies relating to energy security and reliability. As a result of the action, the compliance date will be delayed for one year. During this time, federal agencies are not required to comply with the energy performance standards outlined in the regulations.
[1] https://www.energy.gov/articles/doe-halts-fossil-fuel-ban-federal-buildings
[USA] Michigan joins 17 states and DC to sue Trump administration over wind energy halt
As of May 5, 2025, Michigan joined attorneys general (AGs) from 17 Democratic-led states and the District of Columbia in filing a lawsuit against the Trump administration for halting wind energy projects. [1] The plaintiffs, which included New York, California, Massachusetts, New Jersey, Illinois, and Delaware, filed the suit against President Trump, the Department of the Interior, the Department of Energy, the Environmental Protection Agency (EPA), Interior Secretary Doug Burgum, and the Department of Commerce, among others. The AGs allege that their states are being harmed by Trump’s executive order that halted federal approvals for onshore and offshore wind energy projects. In a press release, the Massachusetts Office of the Attorney General said that the directive threatens to thwart states’ significant investments in wind industry infrastructure, supply chains, and workforce development, investments that already total billions of dollars. The lawsuit states that “the Wind Directive has stopped most wind-energy development in its tracks, despite the fact that wind energy is a homegrown source of reliable, affordable energy that supports hundreds of thousands of jobs, creates billions of dollars in economic activity and tax payments, and supplies more than 10% of the country’s electricity.”
[1] https://www.mass.gov/doc/offshore-wind-complaint/download
[Japan] Bison Energy: Three BESS projects win bid in long-term decarbonization auction in Japan
As of April 30, 2025, Bison energy announced that three of its battery energy storage system (BESS) projects of total installed capacity 195,753 kW have successfully won the bid in the Long-Term Decarbonization Auction. [1] The auction is a bidding system that was introduced in 2023 by the Organization for Cross-regional Coordination of Transmission Operators, Japan (OCCTO). Successful bidders are to supply electricity for 20 years while receiving subsidies for the initial construction and operating costs of the power plants. This enables long-term profit forecasting and supports the achievement of carbon neutrality by 2050. The three winning bids are located in Fukushima, Niigata, and Fukui prefectures with the Fukushima project having the highest capacity.