In brief | 12 March '25

Reuters: RWE, TotalEnergies agree long-term green hydrogen supply deal 

Germany's top utility agrees to supply French oil major with around 30,000 t of green hydrogen a year from 2030, in one of the sector's biggest deals.

Financial Times: Northvolt files for bankruptcy in Sweden 

Collapse of vehicle battery maker deals major blow to Europe’s bid to rival China.

Autoexpress: Tariffs, China, EV tech: VW comes out fighting its existential crisis as results are published 

Volkswagen looks to the future after announcing disappointing financial results.

Tech Funding News (TFN): Franco-Dutch startup Thorizon raises €20M to turn nuclear waste into clean energy 

Funding for development of small molten salt reactor comes from Dutch National Promotional Institution, with backing from EU Commission guarantee.

Montel: EU Commission sets out quick way to approval for power capacity mechanisms

Commission tells national governments how to design their electricity capacity remuneration mechanisms to achieve swift approval.

Guardian: EU retaliates against Trump tariffs with €26bn ‘countermeasures’ 

Commission said it would be targeting industrial products in response, including steel and aluminium, as well as household tools, plastics and wooden goods.

Bloomberg: Bankers climate alliance prepares vote on ditching 1.5C goal 

The world’s biggest climate alliance for banks is about to vote on whether it’s time to abandon a once hallowed goal.