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For Solar Industries, a swelling defence order book underpins visibility, even as non-defence segments drag on performance. View More

The U.K. is predicted to be worse hit by the Iran war than its developed market counterparts, the OECD said in its interim economic outlook on Thursday. View More

watch nowVIDEO2:1602:16UK inflation steady in Feb, but March print eyed warilySquawk Box Europe While the impact of the war in Iran is sparing no major global economy, the U.K. is predicted to bear the greatest economic hit of any developed market nation, according to the Organization for Economic Cooperation and Development.In its latest economic report revising growth and inflation forecasts made in December, the OECD made steep revisions to the U.K.'s outlook.It now predicts U.K. inflation to hit 4% this year — up 1.5 percentage points from its previous forecast — and for 2026 growth to languish at 0.5%, down 0.5 percentage point from its last review.The revisions were the steepest of any made by the Paris-based OECD regarding major global economies in its interim economic outlook published Thursday. Out of the Group of Seven industrialized economies, only the U.S. was predicted to see higher inflation this year, with the OECD projecting the rate to hit 4.2%.The U.S. and Israel's war with Iran has already had a dramatic impact on the global economy, prompting central banks to lower growth forecasts and hike inflation expectations on the back of rising international oil and gas prices.The OECD said Thursday that the conflict in the Middle East is testing the resilience of the global economy with the outlook "surrounded by high uncertainty."Growth has been supported by strong momentum in technology-related investment and lower tariff rates than previously assumed, the OECD added, but Iran's block on most energy shipments through the Strait of Hormuz and damage to regional energy infrastructure has "generated a surge in energy prices and disrupted the global supply of energy and other important commodities, such as fertilisers.""This is raising costs, weighing on demand and adding to inflationary pressures," the OECD noted.The U.K. is more exposed to the global energy price shock than many other nations, as the country imports most of its oil and natural gas, and has limited gas storage facilities. The last inflation print published earlier this week, showing the consumer price index unchanged at 3% in February, is now expected to rise. Read moreGlobal forecasting group sees U.S. inflation at 4.2% this year, much higher than Fed estimateDon't be fooled by the UK's pre-war inflation print — a 'brutal' surge could be coming Why UK bonds bore the brunt of the Iran sell-offBritain responds to Iran war energy shock by requiring solar panels and heat pumps in all new homes The lower growth outlook and higher inflation trajectory pose a problem for the Bank of England, which before the war began, had been expected to cut interest rates this spring, from their current level of 3.75%, in what would have been welcome relief for borrowers and businesses. The war has put paid to expectations of an interest rate cut for now, however, with some economists saying hikes could be on the horizon if the conflict continues for longer than expected.The OECD said central banks "need to remain vigilant and ensure that inflation expectations stay well anchored," adding that "monetary policy adjustments may be needed if price pressures broaden or if growth prospects weaken substantially."The British government has announced it would help those hardest hit by the energy price rises, but Finance Minister Rachel Reeves insisted this week there would be no blanket measures to support households with their energy bills. With financial markets eyeing the U.K.'s Labour government closely for signs of fiscal indiscipline, Reeves reiterated that her "fiscal rules" limiting government borrowing and lowering national debt were "ironclad" — and not about to be bent in response to the Iran war. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

IREDA has declared an interim dividend of ?0.6 per equity share for FY 2025-26, with a record date set for April 2, 2026. The stock has faced a 30% decline over the past year, closing at ?119.2 on March 25, 2026. View More

The agreements were signed through two wholly owned subsidiaries — Ceigall Green Energy MH1 Limited and Ceigall Green Energy MH2 Limited — on March 24, 2026 View More

The fallout from the sprawling Middle East conflict is expected to represent a watershed moment for the energy transition. View More

Workers check vehicle frames on the production line for electric vehicle maker Zeekr at its factory on May 29, 2025 in Ningbo, China.Kevin Frayer | Getty Images News | Getty Images The fallout from the Iran war is likely to expedite the shift away from fossil fuels and make countries think differently about the role renewables can play in shoring up energy security, analysts told CNBC.The Middle East crisis has severely disrupted oil exports through the strategically vital Strait of Hormuz, which typically carries about a fifth of the world's oil and liquified natural gas (LNG) and represents a key choke point for fertilizer trade. It has shone a light on the extent to which the world remains deeply reliant on fragile fossil fuel trade routes, while surging oil and gas prices have rattled energy markets and triggered widespread inflation fears.Asia's reliance on imported energy means it now sits at the forefront of the global fossil fuel crisis, but supply disruptions are also hitting hard in Europe and Africa, where countries are responding to rising fuel costs and a considerable threat to food security. The head of the International Energy Agency said the energy transition was moving "very strongly" before the Iran war began — but the fallout from the resulting energy shock means countries will likely direct even more investment toward clean energy sources. Ten years ago, solar was a romantic story — but now solar is a business.Fatih Birol IEA Executive Director "I expect one of the responses to this crisis will be [an] acceleration of renewables. Not only because they are helping to reduce the emissions but also, they are [a] homegrown domestic energy source," IEA Executive Director Fatih Birol said at the National Press Club in Australia's capital on Monday. Clean energy sources dominated new power installations last year, for example, with renewables accounting for 85% of all new global power capacity, Birol said, citing solar as a primary driver of this trend. "It is amazing. Ten years ago, solar was a romantic story — but now solar is a business," Birol said. Asia's Ukraine moment? Analysts said a unique component of the fallout from the Iran war is that, unlike in previous oil shocks, renewable power has become more competitive in many countries around the world. Fossil fuels, however, such as coal, oil and gas, continue to dominate the global energy mix, meeting around 80% of worldwide demand in 2023, according to the IEA."The Iran crisis accelerates the shift to renewables and electrification. High fossil prices drive switching, making already cheap electrotech even more competitive," Sam Butler-Sloss, research manager at global energy think tank Ember, told CNBC by email. "In the old fossil fuel world, energy security meant diversifying fuel supply. With electrotech, nations now have the tools to increasingly eliminate imported fuels altogether." watch nowVIDEO3:2203:22China's renewable energy push protected its markets from Iran war downsideThe China Connection Electrotech, which refers to solar, wind, batteries and electrified transport, heating and industry, became the world's dominant engine of global energy growth last year, Ember found in an analysis published in December. This was led by China's emergence as the world's first so-called "electrostate." Butler-Sloss said electric vehicle adoption had already been rising fast across the world, particularly in Asia, and this crisis adds a further tailwind to that trend. He estimated that scaling up EVs could save importers more than $600 billion a year in oil imports, describing the switch as a "security superlever." "This is Asia's Ukraine moment. In the same way Ukraine compelled Europe to cut gas dependency, Hormuz will push Asia to cut oil dependency – but with even cheaper technology available," Butler-Sloss said. Grid investment Ana Maria Jaller-Makarewicz, lead energy analyst for the Europe team at the Institute for Energy Economics and Financial Analysis (IEEFA), described the Iran war energy shock as "a wake-up call" for the European Union.Spain serves as a prime example of how countries have been able to limit their exposure to fossil fuel price volatility, Jaller-Makarewicz said. She noted that Spain's government had come under heavy criticism following a catastrophic blackout last year, which some policymakers blamed on renewables, but that the country was now reaping the rewards from its investment in wind and solar technologies.Spain, alongside Portugal and some Nordic countries, were among the countries to have registered the lowest gas prices across the 27-nation bloc since the Middle East conflict began."What we need across all of Europe is grid investment. And by grid investment, I mean modernization and the expansion of the grid. For me, the winner is the European grid," Jaller-Makarewicz told CNBC by video call. An energy security tool Yet, while the Iran crisis is broadly expected to expedite the energy transition in the medium- and long-run, some warned that the shift away from fossil fuels could suffer a setback in the near-term.Gonzalo Escribano, senior fellow for energy and climate of Elcano Royal Institute, a think tank in Madrid, cited pressures for policymakers to subsidize fossil fuels at the pump and the potential for coal to make a temporary comeback in some producing countries if the conflict drags. PT Pertamina oil refinery plant at the port city of Balikpapan in East Kalimantan, Borneo, Indonesia.Bloomberg | Bloomberg | Getty Images The way countries think about renewables has "definitely" changed in the wake of the conflict, however, Escribano said. A pivot to clean energy sources is now not necessarily seen as going green, but rather an attempt to shore up domestic energy security. "Renewables and its associated technologies are now commonly perceived as an energy security tool, no longer only a way to combat pollution and climate change, but a geopolitical asset supported by pragmatism rather than idealism," Escribano told CNBC by email."Even among governments and citizens with little concern for environmental issues," he added. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The company signed a 9.80 MWp solar PPA with HREPL for its Pune plant and an 11 MWp agreement with Sunsure Energy for Greater Noida View More

Lack of compensation rules stalls shift to support renewables View More

TotalEnergies CEO Patrick Pouyanné on the Iran war, the $1 billion deal with the White House, investment in the U.S., and more. View More

In this articleTTETTE-FRFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO10:2910:29Watch CNBC's full interview with TotalEnergies CEO Patrick PouyannéNews Videos Roughly 15% of TotalEnergies' production is offline, as the war with Iran nears the one-month mark, but surging oil prices have more than made up for the lost barrels, chairman and CEO Patrick Pouyanné told CNBC in an exclusive interview.With Brent crude trading solidly above $100 a barrel, much of the attention has focused on oil prices, but Pouyanné said the crisis is having a much larger impact on product prices. "The Brent market is ok, but the products market, which is the one which impacts customers … is much higher than Brent," he told CNBC at S&P Global's CERAWeek energy conference in Houston. He added, the world has "never experienced" refining margins from products including Asian jet fuel at current levels. In addition to petroleum products, about 30% of global fertilizer moves through the Strait of Hormuz, jeopardizing the spring planting season.TotalEnergies is a major player in the global LNG market, including the largest exporter of U.S. LNG. The CEO said the company can still fulfill customer orders in Europe and Asia thanks to its diversified global portfolio. Last week, QatarEnergy said its Ras Laffan plant suffered "extensive damage" following Iranian drone attacks, effectively taking 20% of global LNG supply offline. The shutdown has sent natural gas prices in Europe and Asia surging.Pouyanné expects prices could move substantially higher if the war drags on through the summer, since Asian demand rises over the summer just as Europe looks to refill storage. European natural gas traded around $18 per million British thermal units Tuesday, but Pouyanné said prices could hit $40/MMBtu over the summer if the conflict continues.TotalEnergies is a major investor in U.S. energy. On Monday, it struck a deal with the Trump administration to abandon its offshore wind projects in return for $1 billion. The company agreed to reinvest the money into U.S. oil and gas projects instead.The federal government is key for offshore wind permitting, and the current administration has been a vocal critic of the industry. Pouyanné said he did not want to litigate with the administration over its offshore wind leases – acquired under former President Joe Biden – and so approached the administration with a deal. He added that in the U.S. offshore wind no longer makes sense given cheaper alternatives."In the specific situation of the U.S., where you have a lot of land, you have a lot of gas, you have a lot of coal, you have a lot of land to build onshore solar, onshore wind, batteries, we don't need to have offshore wind," he said. "It's a marginal technology, which is not affordable.""I prefer to allocate my capital to technologies which are more efficient, which give affordable electricity to customers," he said.As part of its expanding U.S. portfolio, TotalEnergies recently inked a 15-year agreement with Google to supply renewable power for data centers. Pouyanné said other hyperscalers – including Amazon and Microsoft – are now speaking to TotalEnergies directly. "These hyperscalers have understood that an energy company – like TotalEnergies –  because we have also capacity, not only to build, to invest, to have land, to trade, we were quite a good partner for them," he said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The move comes as part of Britain's response to the Iran war, with the conflict triggering the largest supply disruption in the history of the oil market. View More

Heat pump installer Richard Wilkins from Lotus Energy, screws in pipes to a Vaillant aroTHERM plus heat pump, that is being installed in a residential property in Farnham, Surrey, southwest of London, on June 2, 2025. Justin Tallis | Afp | Getty Images The U.K. government on Tuesday introduced new rules requiring developers to install heat pumps and solar panels in all new homes across England, in policymakers' latest response to the economic fallout of the Iran conflict. U.K. ministers say the Iran war and the largest supply disruption in the history of the oil market reinforces the need to leverage clean power as an energy security tool.The Future Homes Standard — a set of new-build regulations for England from 2028 — will establish requirements to ensure homes are built with on-site renewable electricity generation, the majority of which is expected to be provided by solar power. The rules will also see homes built with low-carbon heating, such as heat pumps and heat networks.The government added that plug-in solar panels, which homeowners can install on balconies, would be available within shops over the coming months. "The Iran War has once again shown our drive for clean power is essential for our energy security so we can escape the grip of fossil fuel markets we don't control," U.K. Energy Secretary Ed Miliband said in a statement. "Whether through solar panels fitted as standard on new homes or making it possible for people to purchase plug-in solar in shops, we are determined to roll out clean power so we can give our country energy sovereignty," he added. U.K. Secretary of State for Energy Security and Net Zero Ed Miliband arrives in Downing Street to attend a meeting of Cabinet ahead of the Spring Statement announcement in London on March 3, 2026.Wiktor Szymanowicz | Future Publishing | Getty Images The guidance was broadly welcomed by energy industry players, while some campaigners called on the U.K. government to go further to reduce the country's reliance on fossil fuels."People want to be free of these fossil fuel crises — since the conflict in the Middle East began, interest in solar has shot up 50%, heat pump and electric cars are also seeing surges," Greg Jackson, founder and CEO of Octopus Energy, said in a statement."Every solar panel, heat pump and battery cuts bills and boosts Britain's energy independence. And the government's latest steps can help cut the costs of electrification," Jackson said. Climate scientists have repeatedly warned that a substantial reduction in fossil fuel use will be necessary to curb global heating, with the burning of coal, oil and gas identified as the chief driver of the climate crisis. Energy security The U.S. and Israeli-led war on Iran, which began on Feb. 28, continues to disrupt oil production and shipping in the region, with traffic through the strategically vital Strait of Hormuz effectively grinding to a halt in recent weeks. The Strait of Hormuz is a key narrow maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it. Opposition lawmakers, meanwhile, urged the ruling center-left Labour Party to focus on securing domestic energy supply to lower consumer bills amid the Iran war energy crisis.In a post on social media, shadow energy secretary Claire Coutinho of the center-right Conservatives called on the government to issue licenses for new oil and gas fields in the North Sea. Read moreOil rises with Brent climbing back above $100 as optimism fades over Iran war de-escalationTrump tells CNBC 'we are very intent on making a deal' with IranMore than 40 Middle East energy assets ‘severely damaged,’ IEA chief says Countries across the globe have been experiencing steep fuel price increases as a result of the Middle East conflict.Slovenia, for its part, recently became the first member of the European Union to implement fuel rationing to tackle supply disruptions. Greece, meanwhile, has moved to cap profit margins on fuel and supermarket products for three months. Analysts expect the fallout from the Iran war to expedite the shift away from fossil fuels, with countries increasingly recognizing renewables as a way to improve resilience, reduce pollution and mitigate geopolitical risks. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The newly commissioned projects, developed through the company’s subsidiaries, are connected to the existing Inter-State Transmission System (ISTS) and will operate on a merchant basis View More