Energy Transition, Renewables, Emissions, Carbon
November 11, 2026
ET Highlights: Meta's clean power purchases, COP31 electrification goal, TK Steel's hydrogen tender
Energy Transition Highlights: Our editors and analysts bring together the biggest stories in the industry this week, from renewables to storage to carbon prices.
Top story
Meta leads US corporate clean power purchasing, focuses on nuclear capacity
Meta Platforms Inc. has emerged as the largest corporate purchaser of clean power in the US and the third-largest globally, according to S&P Global Energy data.
As of Sept. 30, Meta has contracted 32.2 gigawatts of clean energy capacity worldwide, behind Amazon.com Inc. and Microsoft Corp. Nearly 30 GW of that capacity is in the US. In 2026 so far, Meta has contracted for 10.6 GW, according to S&P Global Energy CERA data.
The hyperscaler has matched 100% of its electricity use with clean energy since 2020, Amanda Yang, Meta's head of clean and renewable energy, told Platts, part of S&P Global Energy.
"We prioritize the same grid where we can because that's what helps bolster the electricity grids and the power needs in specific locations," Yang said.
But amid surging power demand driven by the global data center infrastructure build-out, Meta has had to become more "nimble," Yang said, focusing on matching total global yearly power use instead of using a 24/7 carbon-free energy strategy, which other hyperscalers such as Google LLC have adopted.
"We are thinking about our clean energy work from a portfolio basis, but I don't think that the fundamental principle to prioritize local grids has changed really overall," Yang said. "There are some places where we may have had to flex a little bit just because of the speed at which we need to move, but overall that fundamental principle has not changed."
Benchmark of the Week
36 cents/watt
Platts, part of S&P Global Energy, assessed solar modules delivered on a DDP basis to the US at 36 cents/W for volumes 5-50 MW. The market has seen tightening market fundamentals in 2026 as the US adjusts to policy shifts, including a Section 232 ruling in August that added a 22-cent/W price premium on imported cells.
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INTERVIEW: Amogy sees ammonia power closing cost gap with gas in early 2030s
Power generated from green ammonia could become cost-competitive with baseload gas-fired generation around the early 2030s as ammonia production scales and carbon costs rise, Amogy CEO Seonghoon Woo told Platts, part of S&P Global Energy. Compared with baseload gas-fired power, ammonia-based power is probably twice as expensive today but it is expected to close the gap around the early 2030s as the green ammonia industry scales, according to Woo.
TK Steel preparing revised hydrogen tender for Duisburg plant in Germany
Thyssenkrupp Steel Europe AG will launch a revised renewable hydrogen tender “shortly” to secure volumes for the direct iron reduction plant at its Duisburg steelworks in Germany, the company told Platts on Nov. 4, though it declined to give volumes or a firm timeline for the process. The move follows revised funding requirements for the tender, as the development of the hydrogen market in Europe “has fallen short” of expectations, the company said in a statement on Oct. 30.
Experts flag gaps in COP31's landmark electrification goal
The COP31 Presidency's ambition to raise electricity's share of global final energy consumption to 35% by 2035 faces significant implementation hurdles — from grid infrastructure bottlenecks to questions over how global targets translate into national action — climate experts said ahead of the UN climate summit opening in Antalya, Turkey. The "35-by-35" electrification objective will be a centerpiece of COP31, running Nov. 9-20, alongside negotiations on climate finance and the energy transition.
Danish winners of German hydrogen auction sign grants for 590 MW electrolysis
The winners of the German renewable hydrogen auction under the EU’s European Hydrogen Bank mechanism have signed grant agreements for 590 megawatts of electrolysis capacity in Denmark, with the projects set to supply hydrogen to German industry via pipeline from 2031. Copenhagen Infrastructure Partners and European Energy told Platts late on Nov. 5 that they had both signed grant agreements for their projects, after the other winning company, Everfuel A/S, said in a statement Nov. 4 that it had also signed a grant agreement.
NPEX, Joetsu City launch 8-year forest carbon credit project
INPEX Corp. has signed a partnership agreement with Joetsu City in Niigata Prefecture to generate forest-derived carbon credits under Japan's government-backed J-Credit Scheme. The eight-year project, formalized by an agreement signed on Oct. 27, will have INPEX collaborate with Joetsu City to manage selected municipal forests, enhance their capacity to absorb carbon dioxide and certify the resulting sequestration volumes as tradable J-Credits
Power2X signs MOU with SECI to source Indian eMethanol for SAF
Power2X has signed a memorandum of understanding with Solar Energy Corp. of India to procure eMethanol for its Rotterdam SAF project, betting on India's low-cost renewable power and project execution capabilities to anchor the feedstock supply, according to EVP Commercial Niels van Buuren. The Rotterdam plant, a methanol-to-jet project with a capacity of 250,000 metric tons/year of sustainable aviation fuel, will require between 800,000 and 1 million mt/year of e-methanol, van Buuren said..