Today’s ESG Updates
- EU Deploys Aircraft as Belgium Fights Its Largest Wildfire on Record: The EU sent aircraft from the Czech Republic, Sweden, and the Netherlands after a blaze in the High Fens nature reserve spread to 2,700 hectares.
- Egypt Accuses Rosatom of Nuclear Safety Failures at El Dabaa Plant: Egypt’s Nuclear Power Plants Authority has alleged concrete defects, negligence, and an attempted cover-up at the Russian-built El Dabaa reactor.
- Germany Freezes National Carbon Price Through 2027: Berlin’s cabinet approved a bill holding carbon prices at $64–$75 per tonne through 2027, which shields its industry from extreme volatility.
- NextEnergy Capital Expands UK Battery Storage to 165 MW: NextEnergy UK acquired three operational battery storage sites in southeast England for a combined 107 MW.
EU deploys aircraft as Belgium records worst wildfire
On Saturday, the European Union deployed three helicopters and two water bomber aircraft as Belgium witnessed the worst wildfire on record. The blaze began in the High Fens nature reserve on Friday and had spread to 2,700 hectares by Saturday evening. As firefighters across Belgium and neighbouring countries, Germany and Luxembourg, fought to control the flames, local authorities ordered evacuations in several villages, including a children’s summer camp.
According to data in the European Forest Fire Information System, the recent wildfire is nearly double the size of a 2011 blaze that burned almost 1,400 hectares. The EU also sent extra resources, including aircraft from the Czech Republic, Sweden, and the Netherlands.
In a series of events driven by the extreme climate change crisis, European countries are facing their fifth heatwave of the summer this week, as hot, dry conditions fuel the wildfires to burn longer.
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Egypt accuses Rosatom of nuclear safety violations
Egypt’s Nuclear Power Plants Authority has accused the Russian corporation Rosatom of serious safety and engineering failures at its El Dabaa nuclear plant. This comes to light as the same corporation is building another nuclear power plant in Hungary using the same technology.
In a June letter, the Egyptian authorities have cited concrete defects across multiple reactor units, “deliberate negligence,” and an incident where an injured worker was allegedly smuggled to a private vehicle instead of an ambulance to cover up the accident.
The Egyptian authority also accuses Rosatom of “misleading methods” to overstate construction progress. The letter states the grave danger at hand: “Such behavior represents a serious disregard for both human well-being and professional responsibility, and constitutes a gross violation of workplace safety regulations, nuclear safety culture, and reporting obligations.”
Rosatom denies the allegations, stating the claims have not been confirmed through official project oversight procedures. Hungary’s new government has opened a review into the Paks II project’s hefty price tag and its ties to Russia.
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Germany moves to freeze carbon price through 2027
The German cabinet has approved a draft amendment to its Fuel Emissions Trading Act that would freeze the carbon price through 2027. Under this initiative, the national carbon price remains fixed within a range of $64 to $75 per metric tonne of CO2, not a new lower price but a continuation of the current one. The move follows the EU’s decision to delay its new ETS 2 carbon market for buildings and transport until 2028, which would otherwise have exposed German businesses to more volatile European carbon pricing from next year.
Energy industry group BDEW welcomed the reform’s tighter auction and allowance rules but said further changes are needed to guarantee price stability. This amendment benefits energy companies by reducing the capital required to manage carbon price exposure and may also limit the risk of individual market participants accumulating unusually large allowance positions. For companies operating across Europe, Germany’s move offers an early preview of the governance questions the EU will face as it expands carbon pricing into buildings and transport under ETS 2.
NextEnergy Capital expands UK battery storage portfolio with 107 MW battery storage acquisition
In a move to expand its UK battery storage portfolio, NextEnergy Capital has acquired three operational battery storage projects in southeast England. This includes the 40 MW Maldon, 28 MW Basildon, and 39 MW Loudwater facilities for a combined 107 MW.
This portfolio was acquired through NextEnergy UK I, a private fund managed by the UK renewables investor. All three assets, previously owned by Eku Energy, carry long-term capacity market contracts and are already generating revenue, reducing the development risk typical of greenfield projects.
The $991 million fund, which had initially targeted £500 million at launch in 2021, has now built or acquired over 1 GW of UK renewable infrastructure. NextEnergy’s chief investment officer, Ross Grier, called the deal “an important milestone,” saying it diversifies cash flows and strengthens the fund’s exposure to the fast-growing energy storage sector.
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Fachy Marín.
