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Friday
28 Aug 2026 · Nº 240
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Signal
Capital is retreating from hydrogen electrolysis—Topsoe's $639m write-off on its mothballed solid-oxide unit and a fresh government study hunting 24 cost-cutting levers both underscore how far green hydrogen remains from bankability. Meanwhile, batteries face a divergent shakeout, with distressed assets changing hands (Lyten for Morrow, Tiven for sonnen) even as Spain's flexible grid-access rules threaten to erode battery revenues by up to 10%.
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Industrial Policy · ES · El Periódico de la Energía
The Spanish government is preparing a requirement that data centres cover at least 80% of their energy consumption from renewable generation, according to reporting on a draft measure. The rule would tie the sector's rapid load growth to renewable procurement rather than grid average supply.
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Hydrogen · EU · Hydrogen Insight
Topsoe reported that restructuring costs tied to placing its solid-oxide electrolyser business into 'hibernation' have risen to at least $639m. The company cited weak near-term demand for the technology as the reason for pausing the operation.
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Batteries · EU · batterynews.de
US battery maker Lyten is the preferred bidder for the assets of insolvent Norwegian cell producer Morrow Batteries, with insolvency administrators and creditor Innovation Norway having signed a letter of intent on 21 August 2026. The district court in Agder is involved in the process. The transaction is not yet completed.
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Batteries · DE · El Periódico de la Energía
Shell has agreed to sell German residential battery storage manufacturer sonnen to the family office Tiven, according to reporting. The move exits Shell from an asset it had held as part of its power and home-energy business.
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Grids Package · ES · El Periódico de la Energía
Analysis reported in Spain estimates that flexible grid connection arrangements could reduce revenues for battery storage projects by as much as 10%. The figure is an estimate reflecting curtailment risk under non-firm access terms.
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Grids Package · FR · CRE Délibérations
In deliberations dated 28 July 2026, France's energy regulator CRE approved Enedis' pricing scale for charging users for connection works on public distribution networks, alongside a model agreement and a procedure for connecting distribution networks to the transmission grid. The decisions set the framework and cost basis for network connection requests.
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Hydrogen · EU · Hydrogen Insight
A government-backed study reviewed by Hydrogen Insight sets out 24 measures that project developers and policymakers can use to reduce the capital costs of green hydrogen projects. The paper frames cost reduction as spread across financing, procurement, engineering and policy levers rather than a single technology fix.
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The morning board
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Ammonia · unabated fossil
Conventional SMR · $/t NWE
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688.25 |
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Ammonia · low-carbon
SMR + CCS · $/t NWE
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738.92 |
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Ammonia · RFNBO
Renewable electrolysis · $/t NWE
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839.16 |
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EUA
EU Allowance · €/tCO₂
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82.17 |
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DE Baseload
Day-ahead · €/MWh
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143.55 |
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TTF Natural Gas
Front-month · €/MWh
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60.80 |
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AI-assisted briefing for informational purposes only. Not investment, legal, or regulatory advice. No liability assumed. Views are the author's own.
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