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The Spanish grid was unable to control voltage, resulting in a blackout
Sara Aagesen, Spain's energy minister, said that the Spanish grid's inability to control grid voltage led to a chain of events that caused the massive blackouts that struck Spain and Portugal April 28. A detailed report of the investigation will be released on Tuesday. It found that power plants required by law, to regulate the voltage on the grid, failed to do this in the moments leading up to the blackout. Aagesen stated in a press briefing held in Madrid that "the system did not possess sufficient dynamic voltage control capability". The power plants "should have been able to control voltage, and many of them received economic compensation for doing so." She added that they did not absorb the full amount of reactive power expected in high voltage contexts. The blackout, which lasted several hours, caused gridlock across Iberia and thousands of people were left stranded in trains and elevators. She added that the investigation had found no evidence to support a cyberattack. (Reporting and writing by Charlie Devereux; Inti Latona, David Latona)
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Maguire: Pakistan's solar boom puts it in the exclusive 25% club
Pakistan is quickly emerging as one of the leading countries in the deployment of solar energy, not only among emerging economies. According to Ember data, the South Asian nation has increased solar electricity production by more than three times global average this year. This is due to a fivefold increase in solar capacity imported since 2022. Solar power has risen from Pakistan's 5th largest electricity source to its biggest in 2025, thanks to a combination of capacity and production that is rapidly increasing. Solar farms have provided 25% or more of Pakistan's monthly electricity supply. This makes Pakistan one of only 20 countries in the world that has done so. Exclusive Club Ember data indicates that in the first four month of 2025 solar farms will generate an average of 25,3% of Pakistan’s electricity supply. This average is compared to a solar share that is 8% worldwide, 11% in China and 8% in America. While the average solar share in the Northern Hemisphere is expected to increase steadily throughout the summer, few countries are likely to secure a quarter or more of their utility electricity supply from solar farms anytime soon. According to Ember, solar farms have contributed 25% or more of the monthly electricity supply for utilities in only 17 countries. These nations include: Australia, Belgium. Bulgaria, Chile. Cyprus. Denmark. Estonia. Germany. Greece. Hungary. Latvia, Lithuania. Luxembourg. The Netherlands. Pakistan. Portugal. This list is heavily weighted towards Europe where the shock of Russia's full scale invasion of Ukraine 2022 has prompted widespread and urgent power-sector restructuring and rapid deployment of renewable generation capability. Australia and Chile, the only two nations outside Europe, are Australia and Chile. All of these nations have a higher GDP (gross domestic product) per capita than Pakistan. Import Drive Imports of solar modules from China have been the main driver behind Pakistan's solar boom. According to Ember, between 2022 and 2024 Pakistan's imports from China of solar components increased fivefold, going from 3,500 megawatts to a record 16.600 MW. Pakistan's share in China's total exports of solar modules also increased sharply from 2% to almost 7% by 2024. This import spree has continued through 2025. In the first four month of this year, Pakistan imported solar components worth just over 10,000MW from China. This compares to around 8,500MW in the same period of 2024. The increase of almost 18% in import capacity has also boosted Pakistan's share of China solar exports, which is now around 12%. SOLAR-CENTRIC In recent years, the rapid deployment of imported solar panels across Pakistan has radically changed Pakistan's electricity production mix. Solar is the largest electricity source in 2025. It is followed by nuclear reactors and coal plants, as well as natural gas. Solar farms ranked fifth in terms of electricity supply just two years prior. The solar industry's dominance so far is a sign that the utility system has shifted to renewable energy sources. The country has also committed to a much higher growth rate in the capacity of renewable energy production for the remainder of the decade. According to the International Trade Administration, Pakistan aims to have 60% of its electricity supply come from renewable resources by 2030. Renewable energy sources produced 28% of electricity in the country during the first four-month period of 2025. Energy planners aim to double that figure by the end a decade. Solar modules are the fastest and cheapest way to achieve these goals. This will help cement Pakistan's position as a solar superpower. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Mount Lewotobi Laki Laki in Indonesia erupts with an 11-kilometre high ash clouds
The volcanology agency of Indonesia said that Mount Lewotobi Laki Laki in East Nusa Tenggara Province erupted Tuesday, releasing a massive ash cloud measuring 11 kilometers (6.8miles) high. The agency said that it has also raised the alert level for the volcano to its most dangerous setting, warning about potential lava flow if heavy rains occur. Lewotobi Lakilaki's eruption was In May, When authorities also raise the level to the most serious. Images released by the agency showed an orange mushroom-shaped ash cloud engulfing the village. There is no immediate indication of flight disruptions. When Lewotobi Laki-laki erupted In March, Jetstar, Qantas Airways and other airlines, including those from Australia, were forced to cancel or delay flights to Bali. The search and rescue agency in Indonesia, as well its disaster mitigation agency that oversees evacuation did not respond immediately to a comment request. Indonesia is located on the Pacific Ring of Fire, an area of intense seismic activity that sits atop several tectonic plate boundaries. (Reporting and editing by David Stanway; Stanley Widianto)
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Wizz Air selects Pratt & Whitney to supply engines for an existing Airbus order
Wizz Air, a low-cost European carrier, announced on Tuesday that it had selected RTX Pratt & Whitney to be the engine supplier of 177 Airbus A321neo jets ordered. Wizz Air has shown its commitment to Pratt & Whitney GTF engines, despite the fact that issues with Pratt & Whitney GTF engines forced several airlines to ground aircraft. Wizz Air's total order of GTF-powered aircraft now stands at 453. The low-cost airline, which runs an all-Airbus-fleet, was forced to choose between Pratt & Whitney, its current supplier, and CFM, a joint-venture between GE Aerospace, France's Safran SA.PA>, and GE Aerospace. A defect in the powder used to manufacture high-pressure turbos and compressor disks has affected certain Pratt & Whitney GTF engine, causing disruptions for airlines around the world, particularly those that fly Airbus A320neo family jets. Reports on Monday indicated that Wizz's order for engines would be part of a settlement between Pratt & Whitney and the airline over delays in repair. The engine manufacturer said that "together with today's deal, the airline also secured a support package designed to improve operational stability and reduce the financial and operational impacts of aircraft grounded during this time period." Wizz CEO Jozsef Varradi said in Dublin at the Airline Economics Conference in January that problems with the engines of Wizz's grounded aircraft may last for four to five years. As of May 9, the carrier had 37 grounded aircraft. The carrier expects to have 34 aircraft grounded at the end of its first half 2026 financial period. Pratt & Whitney also will provide Wizz engine maintenance via a long-term agreement, both companies announced on Tuesday. (Reporting and editing by Shilpa Majumdar in Bengaluru, DhanushVigneshBabu in Bengaluru)
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Ivory Coast cocoa imports are below exporter expectations, says regulator
Yves Brahima Kone said that cocoa arrivals in ports of Ivory Coast, the top producer, reached 1,540 million metric tonnes at the end May. This compares to exporters' estimated 1.624 millions tons for the same time period. Exporters reported that last month the quality of cocoa was low and buyers refused to buy more beans, resulting in low volume. Six exporters said that although some trucks carrying poor-quality cocoa were returned by exporters, their beans were still recorded in the records. This explains the 5% discrepancy between the figures supplied by the regulator and those of exporters. This is a normal situation in the industry. "The same truck can be counted at different exporters in different times of the day. Four independent buyers of cocoa said that between March and may, the rejection rate rose significantly due to high levels of acidity in beans. This caused trucks to move from one supplier to another. Malamine Kante explained that he may have to go to three different exporters before he finds one who is willing accept his cocoa. He gets the beans from Soubre, a region in the west of the country. The cocoa industry is concerned that West Africa could suffer a third consecutive decline in production. Kone acknowledged that the poor initial data was a real concern for the main cocoa crop in 2025/26. He added that the success of the crop will depend on the survival rates of the cocoa flowers and young pods, known as cherelles, which are beginning to appear in fields. In order to develop until October and December, they will need to survive July. An Abidjan exporter said, "For now, everyone is watching to see what happens from now until mid-July". "The concern is real but not alarming yet".
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IEA: Tighter carbon regulations and a slower economy will erode the growth of bunker demand.
In its annual report, published on Tuesday, the International Energy Agency stated that the demand for marine fuel will be reduced in the future due to stricter environmental regulations and a slower economic growth worldwide. The Red Sea disruptions, which forced shipping companies to take longer routes, boosted marine fuel sales last year. The IEA stated that the demand for these fuels (also known as bunkers) could plateau at 5 million barrels a day in 2024-2030 due to weak underlying growth of shipping and increasing costs from stricter maritime environmental standards. In April last year, the member states of the International Maritime Organization, the United Nations shipping agency, adopted a mechanism for carbon pricing to help the shipping sector reach zero net emissions by 2050. In the event that final approval is not granted until October 2025, ships will be required to pay a fine for exceeding their target greenhouse gas emissions starting in 2028. UN data shows that shipping transports more than 80% of all goods traded and is responsible for nearly 3% greenhouse gas emissions. The IEA stated that tariffs would create a harsher trading environment, which could adversely affect bunkers. This could increase the disconnect between maritime trade and economic growth. The IEA reported that attacks on ships in the Red Sea forced some to avoid using the Suez Canal, initially supporting bunker sales. Last year, international bunkering increased by 140,000 bpd, but this was still only slightly above the trend. The IEA also noted that the sluggish economic growth, as well as the rising freight and insurance costs, were also a factor. Enes Tunagur reported, Alex Lawler edited and Tomaszjanowski wrote.
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Poland claims that GPS disruptions in the Baltic may be due to Russia
Wladyslaw KOSINIAK-KAMYSZ, the Polish Minister of Defence, said that Poland had observed GPS disruptions in the Baltic Sea. He added that the sources indicate they are "related to Russian Federation actions, including sabotage". The Russian Embassy in Warsaw didn't immediately respond to an email request for comment. Russia has denied all wrongdoing. In the North of Poland, the Polish media has reported that GPS systems have malfunctioned in some cases. This includes private drones which fly off in an unknown direction or lose connection. A Bydgoszcz Airport spokesperson confirmed that a flight on Monday from Alicante, Spain, to Bydgoszcz, in northern Poland, was diverted to Poznan, in western Poland, due to navigational problems. "We are watching these disruptions." "They are also observed by our NATO allies over the Baltic Sea region - both in Baltic states and Nordic countries", Kosiniak Kamysz said to journalists at a recent press conference on new helicopters. According to our sources, these actions are linked to actions taken by the Russian Federation and also to sabotage. He didn't elaborate on his sources. Since Russia invaded Ukraine 2022, there have been numerous incidents, including power cables, telecom links and gas pipelines outages. The NATO military alliance is also increasing its presence in this region. Last year, Estonia and Finland also accused Russia of jamming GPS devices in the airspace. (Reporting and editing by Alison Williams; Anna Wlodarczak Semczuk)
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After Israel's attack on Iran, airlines suspend flights
International airlines have stopped flights to certain Middle East destinations following Israel's attacks against Iran. Here are some airlines that have cancelled flights from and to the region. AEGEAN AIRLINES Aegean Airlines, a Greek airline, announced that all flights from and to Tel Aviv, including the early morning flight of July 12, had been cancelled. AIRBALTIC AirBaltic, a Latvian airline, has announced that it will cancel all flights from and to Tel Aviv up until the 23rd of June. AEROFLOT After Israel's attack on Iran, Aeroflot announced that it has cancelled flights between Moscow-Tehran and changed other routes in Middle East. AIR EUROPA Spanish airline cancels flights from and to Tel Aviv through July 31. AIR FRANCE-KLM Air France has suspended flights to and out of Tel Aviv, until further notice. KLM announced that all flights from and to Tel Aviv have been cancelled until July 1. Some flights from, to or via Beirut could also be affected. Transavia has announced that it will not be operating flights between Tel Aviv and Amman, or Beirut and Beirut. AIR INDIA Air India announced that several flights are either being diverted to another destination or returning back to their original origin. Israeli Airlines announced that all flights will be cancelled until June 21, 2018. BLUEBIRD AERWAYS The Greek airline announced that all flights between June 13 and 21 (inclusively) had been cancelled and new bookings are not allowed for those between June 22 to June 30 until security is clarified. DELTA AIR LINES Travel to, from or through Tel Aviv could be affected between June 12 and July 31. EL AL ISRAEL AIRLINES El Al Israel Airlines announced that it has cancelled its regular flight schedule between EL AL and Sundor until June 23. ETIHAD AERWAYS Etihad Airways has announced that it will cancel flights between Abu Dhabi, Tel Aviv and Tel Aviv from June 22 to August 22. EMIRATES Emirates has temporarily suspended its flights to and from: Jordan (Amman), Lebanon (Beirut), Iran (Teheran), and Iraq (Baghdad, Basra) up until June 30, and Iran (Teheran), and Iraq (Baghdad, Basra). FLYDUBAI Flydubai has temporarily suspended its flights to and out of Iran, Iraq and Israel until June 30, 2018. GEORGIAN AIRWAYS The Georgian airline has cancelled all flights to and out of Tel Aviv from June 19 until then. British Airways, owned by IAG, has suspended its flights from Tel Aviv until July 31, and Amman and Bahrain flights are also suspended up to June 30. Iberia Express is IAG's low cost airline. It had informed the public that it would be cancelling its flights from Tel Aviv to June 30. ISRAIR Israeli Airlines has announced that all flights to and from Israel have been cancelled until June 30, 2018. ITA AIRWAYS Italian Airlines announced that it will extend the suspension of Tel Aviv flight until July 31. This includes two flights scheduled for August 1. LUFTHANSA GROUP Lufthansa announced that it has suspended all flights from and to Tel Aviv, Tehran and Amman until July 31, and to and and from Beirut, Erbil and Amman until June 20, and said it will suspend all flights from and to Tel Aviv until July 31. Lufthansa added that they would avoid Iranian, Iraqi, and Israeli airspace at this time. PEGASUS Turkish Airlines announced that they had cancelled all flights to Iran and Iraq until June 19, and flights to Jordan and Jordan until the 16th of June. The airline said it will only operate flights into Lebanon during daylight hours. QATAR AIRWAYS Qatar Airways has temporarily suspended flights to and from Iraq and Syria. RYANAIR Ryanair has announced that it will cancel flights from and to Tel Aviv up until September 30. Romania's flag airline said it has suspended all commercial flights from and to Tel Aviv, as well as to Beirut and Amman, until June 20, and until June 23, respectively. TUS AIRWAYS The Cypriot Airlines cancelled all flights scheduled to depart or arrive in Israel until June 21, inclusive. The airline said that flights scheduled to depart between June 22 and 30 will be closed for bookings until security is clarified. TURKISH AIRLINES Turkish Airlines, along with other Turkish operators, have cancelled flights until June 16 to Iran, Iraq Syria and Jordan, according to the Turkish transport minister. UNITED AIRLINES According to the U.S. airline, travel from and to Tel Aviv could be affected between June 13, and August 1. WIZZ AIR Wizz Air has announced that it will suspend its flights to and from Tel Aviv, Amman and Jordan until September 15. Hungarian Airlines will not overfly Israeli, Iraqi or Iranian airspaces until further notice. (Reporting and compilation by bureaus, compiled by Agnieszka Olesnka, Elviira Loma, and Tiago Brancao; Editing by Matt Scuffham, Alison Williams and Matt Scuffham)
Sources: Airbus is close to a deal with VietJet for 100 A321 aircraft
Sources in the industry said that Airbus is closing in on a deal with VietJet to buy 100 single-aisle planes. An announcement was planned for the Paris Airshow, barring any last-minute hiccups in negotiations.
Airbus refused to comment, and VietJet staff at the airshow were preparing for an announcement but could not be reached.
Sources said that the low-cost Vietnamese carrier was interested in buying the A321neo. Cirium Ascend estimates that a deal for 100 of these planes would be worth $6.3 billion.
Bloomberg was the first to report on this potential deal.
Airbus, the European planemaker, announced a series of deals during the Paris Airshow - the largest aviation trade show in the world that began on Monday.
Boeing, the U.S. competitor, is expected to put on a subdued performance as it concentrates on the investigation into the fatal crash last week of an Air India Boeing 787-8 and after it made huge deals during U.S. president Donald Trump's tour of the Middle East.
VietJet is the largest airline of Vietnam and operates an all Airbus fleet.
Boeing has yet to deliver any of the 200 MAX aircraft that Boeing has ordered.
Airbus is Vietnam's main jet supplier, accounting for 86% of all planes operated by Vietnamese Airlines. Washington is pressuring Vietnam, which relies on exports to purchase more U.S. products. Reporting by Tim Hepher. Lisa Barrington contributed additional reporting. Mark Potter (Editor)
(source: Reuters)