Energy Storage & Grid Flexibility

Tesla delivered 486,532 vehicles in the third quarter, topping Wall Street estimates of 463,000 even as the figure came in slightly below last year's 497,000. The company said it produced 464,000 vehicles in the quarter and deployed 13.7 gigawatts of energy storage products. The year-ago quarter was inflated by a rush of buyers ahead of the expiration of the federal tax credit, making the roughly 10,000-vehicle gap notable for demand strength. Tesla said it will release its third-quarter earnings on October 21 after the bell. The delivery figure is a global number, with improving demand in Europe and China serving as a major export hub.

Tesla produced over 464,000 vehicles and delivered over 486,000 vehicles in the third quarter of 2026, while deploying 13.7 GWh of energy storage products. The Model 3 and Model Y accounted for 457,387 vehicles produced and 478,237 delivered, with the remaining 7,004 produced and 8,295 delivered coming from other models. Tesla will report its third quarter 2026 financial results after market close on Wednesday, October 21, 2026, followed by a live question and answer webcast at 4:30 p.m. Central Time. The company noted that vehicle deliveries and storage deployments represent only two measures of its financial performance and should not be relied on as an indicator of quarterly results.

The Electricity Generating Authority of Thailand (EGAT) has successfully tested automated energy connection and dispatch in the form of a Virtual Power Plant, linking its Demand Response Control Center (DRCC) with the ENZY Platform, an intelligent energy management platform developed by EGAT. Thidech Iamsai, EGAT Deputy Governor for Related Business, revealed on 30 September 2026 that the test integrated three types of energy resources: demand response, battery energy storage systems (BESS), and solar power generation. When the DRCC sends a command to the ENZY Platform, the system processes data from local energy resources and automatically dispatches various devices according to set conditions, both reducing electricity use during peak demand alongside discharging power from batteries and solar cells, and storing energy in batteries during periods of low demand. EGAT stated that this success reflects its readiness to upgrade Thailand's power system to a Smart Grid, accommodating the growth of renewable energy, energy storage systems, and electric vehicles, as well as opening opportunities for electricity users, buildings, factories, and owners of distributed energy sources to participate in managing the power system, in order to strengthen energy security and support Thailand's Net Zero goal.

Gotion has launched global delivery for what will be Africa's largest AC-coupled energy storage project, with the first 50 heavy-duty trucks carrying its self-developed Gotion Grid 5MWh storage systems departing simultaneously from its Jinzhai and Nantong facilities on Sept. 28. The shipment came within three months of signing, a pace Gotion attributes to its vertically integrated supply chain and upstream-downstream coordination. The Gotion Grid systems will serve Egypt's Nefertiti and Horus projects, the country's first large-scale standalone storage projects and, once completed, Africa's largest standalone storage facilities. Developed by AMEA Power and built by China Energy Engineering Group, the projects are designed to strengthen grid stability, support solar and wind integration, and advance Egypt's 2030 clean energy goals, with systems upgraded for extreme heat, sandstorms and salt fog and offering high-voltage stability, high safety and millisecond-level response. Hussain Al Nowais, Chairman of AMEA Power, said the shipment opens a new stage of broader cooperation, while Li Chen, Senior Vice President of Gotion and President of Gotion Americas, called Egypt Gotion's key step into the Middle East and North Africa.

Gresham House Energy Storage Fund PLC reported that its net asset value per share grew 15.8% to 131.3p in the first half of 2026, driven by the revaluation of incremental projects to fair value on a discounted cash flow basis. Revenue rose nearly 10% to close to 35 million, with contracted revenues now representing 61% of the total, and operational capacity reached a record high of 1,072 megawatts and 1,853 megawatt hours after 152 megawatt hours of battery capacity were added in the half. Lead Fund Manager Ben Guest said the next major NAV boost should come from the 777 megawatt incremental project pipeline, which will be revalued at quarter end following financial close expected in the third or fourth quarter of 2027, with the uplift per megawatt potentially similar to this quarter's. Trading revenues fell year on year on flatter market conditions and higher skip rates, and several assets including Glastonbury and Stafford, totaling 90 megawatts, were offline for augmentation and distribution network operator outages. The Rayleigh grid connection offer under NISO Gate 2 remains pending, and the board plans to update investors on dividend policy before the end of the year.

Ellomay Capital Ltd. announced that its Spanish indirectly held wholly-owned subsidiary, Ellomay Solar S.L., has received a battery storage grid access and connection permit for a project with a capacity of up to 22.2 MW / 100.3 MWh (4.5-hour), known as the BESS Facility. The BESS Facility also received a permit to charge 22.2 MW of electricity from the grid, which Ellomay said is expected to increase the flexibility and profitability of the project. The facility will be built on land already leased to Ellomay Solar, which owns a 28 MWp solar facility in Talaván, Cáceres, Spain. Ellomay expects construction of the BESS Facility to begin in the beginning of 2027 and to be completed in the fourth quarter of 2027. CEO and board member Ran Fridrich called the permit an important milestone in the company's strategy, noting that battery storage is a core growth engine for Ellomay, with a focus on markets where the need for flexibility is growing fastest, primarily Spain and Italy.

BrenX has entered into a definitive real estate sale and purchase agreement to acquire approximately 10,872 square meters of industrial land and photovoltaic infrastructure adjacent to its operating solar facility in Kaposszekcső, Hungary. The transaction marks the company's first execution of its develop-own-operate strategy and expands its footprint around the existing 1.2 MWp solar facility, which is already operating and provides the energy foundation for the site's potential expansion. CEO Nir Brenmiller said the acquisition could transform the Kaposszekcső property from a standalone renewable energy asset into what BrenX believes could become its first integrated industrial energy resource center. Potential developments at the site could include additional photovoltaic generation, battery energy storage systems, BrenX's proprietary bGen thermal energy storage technology, industrial energy services and, where technically and economically appropriate, modular data center infrastructure. BrenX believes the integrated approach could create opportunities for longer-term customer relationships and recurring revenue, and said it is now delivering its first commercial project and starting construction of its second.

ConnectDER announced the hiring of Chad Conway as VP of Product, tasking the former Tesla and SPAN executive with leading product strategy across its meter socket adapter lineup. Conway brings 15 years of hardware experience in the clean energy transition, including six years on Tesla's Energy team, where he helped scale the Powerwall from concept to more than 50,000 annual deployments, and a founding role at smart electric panel maker SPAN, where he served as Head of Products and led development of the SPAN Panel from an idea to installations in thousands of U.S. homes. In his new role he will focus on advancing ConnectDER's flagship IslandDER product line, launched in 2025 to unlock seamless whole-home backup, deepening its onboard functionality and adding new OEM partnerships. IslandDER has become the standard Microgrid Interconnect Device option for installers and is compatible with systems from SolarEdge, FranklinWH, Lunar Energy, EcoFlow, and Fox ESS, with additional partnerships already under agreement. ConnectDER President and CEO Ivo Steklac said Conway's experience scaling category-defining platforms at SPAN and Tesla makes him uniquely equipped to guide the company's product roadmap as rising electricity costs and more frequent outages drive demand for residential storage.

Critical Loop announced that its software-defined power controller, Cygnus, has achieved official CSIP 2030.5 certification and completed interoperability testing with Pacific Gas and Electric Company, joining the utility's Flex Connect Approved Solution Providers list. Combined with its existing UL 3141 listing, Cygnus is the first power controller on the market to hold both certifications, giving customers broad compatibility across utility environments including PG&E and Southern California utilities. The milestones support flexible interconnection, an approach California is embracing to accommodate rapidly growing electricity demand without waiting years for traditional grid upgrades. PG&E's Flex Connect program currently supports five operational sites, including commercial EV fleets, public fast-charging infrastructure and battery energy storage systems, with more than 85 additional projects in the active pipeline. Critical Loop, a finalist in PG&E's 2025 Innovation Pitch Fest, said it is now actively onboarding commercial and industrial customers across California, offering a path to full operations in months rather than years.

Fluence Energy has entered into a multi-year master supply agreement with EVE Power, a global lithium battery manufacturer, to secure battery cells for its energy storage systems. Under the agreement, EVE Power will supply battery cells for Fluence's energy storage solutions, supporting the company's efforts to strengthen supply chain resilience and meet growing customer demand. The deal forms part of Fluence's broader global supply strategy, giving it greater visibility into supply availability and costs while it pursues domestic content offerings in the United States and potential localization opportunities in other regions. The company said reliable access to advanced lithium battery technology could help it execute large-scale storage projects more efficiently and reduce supply-related uncertainties. Separately, Tesla announced in March that it is collaborating with South Korea's LG Energy Solution to buy $4.3 billion worth of lithium iron phosphate battery cells, to be manufactured at a Lansing, Michigan factory starting in 2027. Fluence shares currently carry a Zacks Rank #5 (Strong Sell).

Bualuang Securities has maintained its Buy rating on Gunkul Engineering Public Company Limited, or GUNKUL, with a target price of 6.50 baht, after GUNKUL signed power purchase agreements for an additional 261.8MW of Phase 2 renewable energy projects. This brings the entire Phase 2 pipeline of 319MW to fully contracted status. The latest signed projects comprise 19.4MW of solar with commercial operation in 2027 and 242.4MW of wind with commercial operation in 2030. At the same time, GUNKUL sold a 50% stake in seven project companies to Gulf Renewable Energy, a company within the GULF group, for 466.5 million baht, covering 12 projects totalling 673.4MW gross, or 336.7MW on a proportional equity basis after the deal, spanning wind, solar, and solar-plus-BESS. The project companies will shift from subsidiaries to joint ventures, or JVs, after the transaction. Bualuang's research team views the key benefit of the deal as reducing the balance sheet burden rather than the gain from the share sale, because the projects require total investment of roughly 34.7 billion baht, of which about 26.0 billion baht is project debt. After the restructuring into JVs, that debt will sit at the joint venture level, and GUNKUL will contribute only about 4.3 billion baht in equity investment. If it held all the projects itself, analysts estimate net debt-to-equity in 2028 would rise from 0.22 times to 2.0 times, and IBD-to-EBITDA from 1.5 times to 6.8 times. The JV structure therefore helps preserve GUNKUL's capacity to invest in the next round, both PDP2026 and Direct PPA. On earnings, there is no change to the 2026 to 2028 forecasts, because the existing estimates already assume 50% ownership of these projects and recognition as share of profit from JVs. The new upside is the EPC business, because once the projects become JVs, construction work that GUNKUL takes on from the projects can be recognised as revenue in the consolidated accounts. If it wins EPC work equal to 15% of the 34.7 billion baht in project investment, at a net margin of 10%, that would generate total profit of about 520 million baht over 2026 to 2030, or an average of 130 million baht per year, equal to roughly 4% of 2028 core profit, which is not yet included in current estimates.

Samsung has committed $1 billion to Helix Digital Infrastructure, the AI infrastructure company formed by KKR, through its long-duration capital fund. The commitment builds on the more than $10 billion of capital committed to the Helix strategy at its launch by founding investors including KKR, the Kuwait Investment Authority, NVIDIA and Vistra, and will provide additional long-duration capital for Helix's strategy of investing in and delivering the data centers, power, connectivity and related infrastructure required to support growing AI demand. Helix CEO and Co-Founder Adam Selipsky called Samsung's commitment a strong vote of confidence in the strategy and said the company brings unique capabilities that are expected to benefit Helix and its customers. Alongside NVIDIA's expertise in full-stack technology and AI infrastructure and Vistra's role in power, Helix expects to explore opportunities to leverage Samsung's capabilities in areas such as advanced technology, construction, energy storage and cooling. Globally, KKR has invested over $75 billion across digital infrastructure and power, including approximately $9 billion across its strategies in Korea, where the firm has been present since 2009.

PT. Kolaka Nickel Indonesia is developing a landmark hybrid solar photovoltaic and battery energy storage system project in Oko Oko, Pomalaa, in the Kolaka Regency of Southeast Sulawesi, pairing a 20 MWp solar array with a 20 MW / 30 MWh energy storage system. Funding was secured in January 2026 through non-recourse financing from three banks: Industrial and Commercial Bank of China (Indonesia) Limited, Standard Chartered Bank Indonesia, and China CITIC Bank International Limited. The 11th Design & Research Institute of Electronics Industry Co., Ltd. serves as the EPC contractor, overseeing design, procurement and construction, while ZNSHINE SOLAR supplies the high-efficiency photovoltaic modules engineered for Indonesia's tropical conditions. Commissioning is scheduled for March 2027, after which the facility is expected to deliver decarbonization benefits for local nickel-sector operations. The project is described as a critical milestone on Indonesia's path toward greater sustainability and energy self-sufficiency.

PTT Public Company Limited, or PTT, has signed a memorandum of intent for cooperation with four government agencies to develop the I-SPARK pilot model, building readiness in clean energy and infrastructure for low-carbon industry in Rayong province. Dr. Kongkrapan Intarajang, Chief Executive Officer and President of PTT, presided over the ceremony, held at Gastech Bangkok 2026 at the BITEC Exhibition and Convention Center in Bangkok. The co-signatories included Dr. Buranin Rattanasombat, Chief Operating Officer of the New Business and Sustainability Group at PTT; Dr. Pirun Saiyasitpanich, Director-General of the Department of Climate Change and Environment; Mr. Wattanapong Kurovat, Director of the Energy Policy and Planning Office; Mr. Warakorn Prasertphon, Director-General of the Department of Mineral Fuels; and Mr. Sumet Tangprasert, Governor of the Industrial Estate Authority of Thailand. I-SPARK is the development of a low-carbon industrial ecosystem in Map Ta Phut district, Rayong province, integrating investment projects and key infrastructure across three clusters: Low Carbon Energy & Solution, Shared/Common Infrastructure, and Specialties, Bio & Circularity. It covers LNG, hydrogen and ammonia energy, battery energy storage systems, carbon capture and storage, sustainable aviation fuel, bio-based products, specialty chemicals, and the recycling of used plastics back into new raw materials. By 2035, investment in I-SPARK projects is expected to reach as much as 5 billion US dollars and to cut greenhouse gas emissions by as much as 9 million tonnes of carbon dioxide equivalent.

Solar, energy storage and lithium battery sectors are getting a boost from multiple positive catalysts. According to industry information, 11 polysilicon producers discussed controlling operating rates at around 35% starting in October. If the production cuts are carried out as planned, they would help ease inventory pressure and shift industry competition from low-price capacity expansion toward a rebalancing of supply and demand. In energy storage, Nvidia launched the DSX Ready certification program, bringing battery energy storage systems into the category of core equipment for AI factories, with a focus on fast response, stable power supply and power quality. Energy storage is thus extending beyond traditional peak shaving and valley filling to ensuring the stable operation of computing infrastructure. In lithium batteries, CATL's battery cell plant in Debrecen, Hungary began trial production on September 22, marking the entry of localized European capacity into the equipment and process validation stage. Guosheng Securities noted that expectations for polysilicon production cuts are clear, and supply contraction is expected to help stabilize prices along the industrial chain. From October, the industry's overall operating load is expected to fall to around 35%, and some downstream companies have already begun gradually restocking. Polysilicon producers are showing a stronger willingness to hold prices, generally using full cost as the floor for quotations. As of 1:39 p.m. on September 28, 2026, the STAR Innovation Energy ETF managed by Penghua, ticker 588830, saw its underlying index, the SSE STAR Market New Energy Index, ticker 000692, fall 4.64%, with KBC Corporation leading the decline among constituents, down 9.66%.

The Royal Gazette has officially announced the regulations for the community solar farm procurement programme, with total capacity of no more than 1,500 megawatts, setting a fixed feed-in tariff of 2.1679 baht per unit and 25-year power purchase agreements. The scheme uses selection criteria focused on project quality and suitability rather than the previous system based on the order in which bids were submitted. The 1,500 MW community solar farm programme is separate from the 10,000 MW people's solar plan. Brokers view the news as positive for renewable power operators. Finansia Syrus Securities said the stocks to watch are GULF, BGRIM, GPSC, GUNKUL, WHAUP and SPCG, while Krungsri Securities sees WHAUP, GUNKUL and SSP as beneficiaries, and Yuanta Securities Thailand picked GUNKUL, SSP and TSE. Thai Solar Energy Public Company Limited, or TSE, plans to take part in both the community solar programme and direct power purchase agreements, or Direct PPA, targeting at least 100 megawatts of new offered generating capacity to serve demand for clean electricity from data centre operators and the industrial sector, and is studying the use of battery energy storage systems, or BESS, alongside its projects. TSE is also pressing ahead with its Solar Big Lot programme of 28 projects with total offered capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with combined capacity of 30.20 megawatts, are expected to start commercial operation in the second quarter of 2027, while the remaining 24 projects, with combined capacity of 198.86 megawatts, are expected to gradually reach commercial operation during 2028 to 2030. Once all 28 sites are running, the company expects to generate additional revenue of about 900 million to 1 billion baht per year. TSE also has a community waste-to-energy power plant project in the Khorum subdistrict of Uttaradit province, with offered capacity of 8 megawatts and a concession period of 28 years and 6 months. It is currently preparing an environmental impact assessment report and is set to sign a power purchase agreement. Key issues to watch going forward are the schedule for accepting proposals, the competition criteria and project allocation, which will be major factors shaping each operator's chances of expanding generating capacity.

Eos Energy Enterprises has received an $87 million advance from its U.S. Department of Energy loan facility, tied to manufacturing expansion at its Thorn Hill battery plant in Pennsylvania. The company's shares have fallen 20.1% over the past week and 46.6% over 90 days, with a one-year total shareholder return down 68.7%, though the three-year total shareholder return remains positive at 47.2%. The most followed narrative pegs fair value at $3.20 per share, close to the recent $3.17 close, while the stock's price-to-sales ratio of 5.4x sits above the US Electrical industry average of 2.1x and far above a fair ratio of 0.3x. Bulls point to the fresh DOE funding and long-term grid storage demand, while bears focus on the share price damage and heavy losses.

The government is preparing to invest in a smart grid system, or intelligent power network, with short-term approval expected for a pilot project budget of approximately 10 billion to 20 billion baht, drawn from the 200 billion baht energy transition allocation under the 400 billion baht emergency loan decree. Concrete progress is expected to begin this year. Naphan Chaisaen, Deputy Managing Director of Research and a fundamental investment analyst covering the capital market at Bualuang Securities, told Than Hoon that the medium-term smart grid roadmap for 2022 to 2031 consists of five pillars. The first is Demand Response, which will replace household electricity meters with millions of smart meters, starting in high-usage areas such as Bangkok, its vicinity, major cities, and industrial estates in Rayong and Chachoengsao. Companies with potential in this area are FORTH, SKY, INSET, ALT, and PCC. Next is RE Forecasting, which involves system integrators such as TKC, SECURE, and SAMART. Then comes Microgrid and Prosumer, with GUNKUL and BGRIM. Next is ESS, or energy storage systems, with EA and GPSC. Finally, EV Integration involves FORTH and EA. Investment in the smart grid can also be accelerated without waiting for full clarity on the new Power Development Plan, and it will serve as key infrastructure to support the massive electricity consumption of data centers in the future without affecting electricity costs or the stability of power supply for the general public.

UBS expects Tesla to report roughly 470,000 vehicle deliveries for the third quarter, a figure that would mark a 5% year-over-year decline and a 1% drop from the second quarter. The estimate sits about 4% above Visible Alpha's 454,000 forecast, and UBS noted market expectations have shifted toward a 460,000-to-480,000 range in recent weeks. UBS also projects energy-storage deployments of 16.9 gigawatt-hours, up 35% from a year earlier and 25% sequentially, though the firm cautioned that quarterly storage figures are difficult to assess ahead of the report. Tesla is scheduled to publish its third-quarter delivery figures on Oct. 2, and UBS maintained its Neutral rating and $385 price target.

Bualuang Securities released an analysis stating that the development of Thailand's smart grid is nearing a turning point, moving from a phase focused on long-term roadmaps toward rule-setting, pilot project implementation, and greater private-sector participation. The medium-term smart grid drive plan for 2022-2031 comprises 5 pillars: Demand Response and Energy Management Systems, or DR & EMS, which accounts for roughly 30% of the budget; Renewable Energy Forecasting, or RE Forecasting, about 10%; Microgrid and Prosumer, about 20%; Energy Storage Systems, or ESS, about 25%; and EV Integration, about 15%. The analysis states that stocks that could benefit under the DR & EMS pillar include SKY, PIS, FORTH, PCC and ALT, while the RE Forecasting pillar includes TKC and SAMART. The Microgrid & Prosumer pillar includes BGRIM, the ESS pillar includes EA, GPSC, GULF and EGCO, and the EV Integration pillar includes FORTH and EA. Bualuang Securities takes the view that heavy investment in ESS and Microgrid should not be rushed from the early stage, because committing large amounts of capital to batteries, hardware and EPC work before pricing mechanisms and service markets are clear carries the risk of assets being underutilized. Meanwhile, DR/EMS forecasting and EV Integration require less capital and open up opportunities to generate revenue from platforms, service fees and recurring income.

Krungsri Securities stated that the direction for operating Data Centers in Thailand is progressing continuously, with the draft Digital Infrastructure Services Business Act B.E. ...., the main law establishing the regulatory framework for data center, cloud service, and digital platform businesses. It requires operators to obtain licenses from the Ministry of Digital Economy and Society and to post collateral. Meanwhile, large data centers that use electricity up to the threshold must secure their own electricity and water sources, are prohibited from competing for water from public water sources, must use clean energy according to the proportion set by the state, must be located in urban planning areas permitted for factory operations, must conduct EIA/EHIA, and are required to store personal data of Thai individuals and Thai juristic persons within the country as a primary requirement. On the progress of subordinate legislation, the DC Board approved preliminary criteria requiring data centers using electricity from 0.5 megawatts and above to formally register with the Ministry of Digital Economy and Society, and instructed three subcommittees on infrastructure, urban planning, and environment to expedite the drafting of minimum standards for completion within February 2026. Meanwhile, the Bangkok Metropolitan Administration and the Department of Public Works and Town and Country Planning are reviewing a new urban planning draft designating zoning for large data centers in industrial zones in purple areas on the outskirts of the city, and acknowledged progress on the TH-DC Dashboard system by BDI in collaboration with the Ministry of Digital Economy and Society to serve as a national central database. The research department assesses this progress as overall positive and views it as positive sentiment for Infra Tech theme stocks, namely industrial estate developers AMATA and WHA, contractors STECON, PYLON, and INSET, power companies GPSC, BGRIM, WHAUP, and GUNKUL, as well as banks KBANK, KTB, and BBL.

Sunrun and Tesla announced on September 21 that their combined fleets of home batteries delivered 580 megawatts onto California's grid during a September 9 heat wave, enough to cover every household in Sacramento County during peak hours. The dispatch drew 517 megawatts from Tesla Powerwalls and another 63 megawatts from additional battery brands, activated through the California Energy Commission's Demand Side Grid Support program and the California Public Utilities Commission's Emergency Load Reduction Program, after California Independent System Operator triggered it when day-ahead wholesale prices topped $200 per megawatt-hour. A day later, Southern California Edison called its own event and the two companies delivered more than 140 additional megawatts, and had both nights landed together the fleet could have pushed more than 720 megawatts onto the grid at once; a Brattle Group analysis commissioned by the two companies estimated such programs could save Californians up to $206 million by 2028. Sunrun, Tesla, and Renew Home are working to unlock more than 16.8 gigawatts of flexible capacity for hyperscalers and utilities, and a Google-funded distributed power plant with PG&E is set to enroll nearly 21,000 devices as early as this fall. Sunrun's storage attachment rate hit a record 74% in the second quarter, up from 70% a year earlier, and total revenue climbed 53% year over year to $870.0 million, even as subscriber additions fell 31% to 19,793, Aggregate Subscriber Value dropped 24% to $1.2 billion, and Net Subscriber Value fell 44% to $9,444. Sunrun cut its full-year Cash Generation guidance to a range of $200 million to $375 million from the earlier $250 million to $450 million, and has raised about $1.5 billion in non-recourse asset-level financing so far in 2026, including a $267 million securitization in August priced at a 6.33% yield.

Nvidia introduced its DSX Ready program on September 21, naming Tesla among qualified battery-energy-storage suppliers and Vertiv Holdings among qualified cooling suppliers for its new AI-factory standard. The program effectively publishes a compatibility layer for the physical AI factory, which can shorten design work for developers while potentially increasing Nvidia's influence over what gets specified around its racks. Vertiv has the most direct operating exposure because Nvidia qualified its 2.3-megawatt CoolChip coolant distribution unit for the program, while for Tesla the qualification puts Megapack directly into the AI-infrastructure conversation and opens another demand pool for Tesla Energy beyond utilities and renewable projects. Nvidia itself says DSX Ready does not replace site-level engineering or imply site-level stability, and the bear case is that qualification is not a guarantee of project wins. Insider Monkey's Q2 database showed 285 hedge funds holding Nvidia, up from 275 in Q1, while Tesla fell to 116 hedge-fund holders from 123 and Vertiv rose to about 112 from 96 in Q1, with all three filings predating the DSX announcement.

The PTT Group has introduced five senior executives who will share their visions on the global stage at Gastech 2026, which Thailand is co-hosting at the BITEC Exhibition and Convention Center in Bangkok, reflecting recognition of PTT's knowledge and expertise in the global energy industry. Dr. Kongkrapan Intarajang, Chief Executive Officer and President of PTT, reaffirmed management under the three-dimensional energy balance principle, in which natural gas and LNG will remain the primary fuels, and set a target to expand the LNG portfolio to 15 million tons by 2035. Mr. Bandit Thammaprajjit, Chief Operating Officer of the Upstream Petroleum and Gas Business Group, noted that LNG infrastructure is shifting from a linear value chain to a multi-node network, and that Thailand has the potential to become a physical LNG hub in the region. Mr. Jaturong Worawitsurawatthana, Senior Executive Vice President of the International Trading Business Unit, stated that flexible long-term contracts are essential for energy security. Dr. Buranin Rattanasombat, Chief Operating Officer of the New Business and Sustainability Group, discussed the adoption of solar power technology, battery energy storage systems, and studies into small nuclear reactors, along with the i-Spark project. Mr. Rattakorn Kampanatsanyakorn, Senior Executive Vice President for Corporate Sustainability, revealed plans to transform the Map Ta Phut area into an integrated low-carbon energy hub, with investment of at least 5 billion US dollars over the next 5 to 10 years, including a carbon capture and storage project capable of capturing 5 to 9 million tons of greenhouse gases per year, and expected to create more than 10,000 jobs.

Thai Solar Energy Public Company Limited, or TSE, has laid out a strategy to capture Thailand's energy transition, preparing to bid for Direct PPA and Solar Community projects under the new Power Development Plan, or PDP2026, which calls for clean energy to account for more than 60% of the mix. The company aims to add at least 100 megawatts of offered generating capacity to serve demand for clean electricity from data centers and the industrial sector. Kathleen Maleenont, Chief Executive Officer of TSE, said Direct PPA will be a key mechanism for meeting that demand, and the company is studying the use of battery energy storage systems, or BESS, alongside its projects. Meanwhile, TSE is pressing ahead with 28 Solar Big Lot projects with a combined offered generating capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with a combined capacity of 30.20 megawatts, are expected to begin commercial operation in the second quarter of 2027, while the remaining 24 projects, with a combined capacity of 198.86 megawatts, will gradually come online between 2028 and 2030. Once all 28 projects are complete, they are expected to generate an additional 900 million to 1 billion baht in annual revenue. In addition, a community waste-to-energy plant with an offered generating capacity of 8 megawatts, which has secured a 28-year and 6-month concession with the Khorum subdistrict in Uttaradit province, is in the process of preparing an environmental impact assessment report and awaiting the signing of a power purchase agreement. The company is also expanding into the Health & Wellness sector to create a new S-Curve and diversify its revenue sources.

Zijin Longking announced after market close on September 23 that its board of directors has approved proposals for three solar and storage projects: the third phase of the Aurora gold mine processing plant in Guyana, the underground mining plant, and the second phase of the Rosebel gold mine in Suriname. The total investment is approximately 232 million US dollars, all to be self-funded by the company, with the implementing entity being its wholly owned subsidiary Zijin Longking Clean Energy Company Limited. The third phase of the Aurora processing plant project has a construction scale of 15 megawatts peak of solar plus 20 megawatts and 80 megawatt-hours of energy storage, with a total investment of about 26.62 million US dollars and an expected average annual power generation of about 20.5874 million kilowatt-hours. The Aurora underground mining plant project has a construction scale of 45 megawatts peak of solar plus 50 megawatts and 100 megawatt-hours of energy storage, with a total investment of about 55.24 million US dollars and an expected average annual power generation of about 61.7622 million kilowatt-hours. The second phase of the Rosebel gold mine project in Suriname is the largest, with a construction scale of 170 megawatts peak of solar plus 120 megawatts and 120 megawatt-hours of energy storage, a total investment of about 150 million US dollars, and an expected average annual power generation of about 244 million kilowatt-hours. All three projects are planned to be completed by 2027. Once completed, they can replace about 68 percent of diesel power consumption at the processing plant and about 50 percent at the underground mining plant in 2027, while the second phase of the Rosebel gold mine can replace about 38.8 percent of diesel power consumption at the Rosebel and Saramacca mining areas. The announcement also cautioned that the investment amounts, completion dates, power generation, and electricity prices are all planned or estimated figures, and that overseas investment filing and approval procedures are still in progress, so the timing of implementation remains uncertain.

On the evening of September 23, multiple listed companies on the Shanghai and Shenzhen stock exchanges issued important announcements covering major project investments, private placements, overseas contract wins, and shareholder stake increases. Southeast Space Frame announced that its subsidiary Shanghai Southeast Haoxue Culture and Sports Development Company will serve as the main entity to invest in and build the Shanghai Songjiang ice and snow sports complex, with a total investment of approximately 3 billion yuan. Once completed, it is expected to become the preferred international-level event hosting base in Shanghai and the broader Yangtze River Delta, filling the gap in Shanghai's ice and snow event venues. Sanxing Electric's wholly owned subsidiary Ningbo Aux Intelligent Technology Company won the bid for a U.S. data center energy storage oil transformer project, with a total contract value of 132 million U.S. dollars, equivalent to approximately 885 million yuan, accounting for 6.16 percent of the company's audited operating revenue for 2025. Sunwave Communications plans to raise no more than 992 million yuan through a private placement for a satellite-terrestrial integrated communication system project, next-generation communication technology research and development, working capital replenishment, and repayment of interest-bearing debt. Xinhua Chemical plans to issue convertible bonds to raise no more than 900 million yuan for projects including the expansion of 50,000 tonnes of isopropanol, 3,500 tonnes of isopropyl ether, and a 200-tonne propane technical upgrade. In addition, Shandong Road and Bridge's controlling shareholder Shandong Hi-Speed Group and its concert parties plan to increase their shareholding in the company within six months, with a total increase of no less than 450 million yuan and no more than 900 million yuan. Hangyang Company plans to invest 50 million yuan to participate in the investment of Xinghuan Juneng, acquiring a 0.66 percent equity stake and substantively participating in the field of controllable nuclear fusion.