While the U.S. awaits Iranian response to its recent ceasefire proposal, Israel’s IDF confirmed the killing of Hezbollah Radwan Special Forces Commander Ahmad Ghaleb Balout in a precision Beirut strike. Separately, NBC reports President Trump paused the Project Freedom plan to escort ships through the Strait of Hormuz just 36 hours after announced on Truth Social because the plan angered Saudi Arabia, Qatar and Oman (who were not consulted), with Saudi Arabia informing Washington it would not permit U.S. military aircraft to operate from the critical Prince Sultan Airbase or use Saudi airspace in support of the mission.
The International Renewable Energy Agency published a new report (24/7 Renewables: The Economics of Firm Solar and Wind) stating that round‑the‑clock solar and wind paired with battery storage now deliver power at lower cost than new fossil fuel generation in high‑quality resource regions. Firm levelized costs of electricity for solar-plus-storage range from $54/MWh to $82/MWh in high-irradiance regions (from $100MWh in ’20), compared with $85/MWh for new coal in China and more than $100/MWh for new gas globally. Since 2010, total installed costs have declined by 87% for solar and 55% for onshore wind, while battery storage costs have fallen 93%. IRENA expects costs to decline an additional 30% by 2030 and 40% by 2035.
Indonesia Energy and Mineral Resource Minister Bahlil Lahadalia announced Indonesia and the Philippines will discuss nickel cooperation during President Prabowo Subianto’s visit to Cebu later this week. Indonesia plans to request more nickel imports from the Philippines for its domestic smelters when they face shortages from domestic miners. The two countries will also discuss cooperation on the development of technology and exchange of information.
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