Rio Tinto has signed a power purchase agreement for a new renewable energy plant in Fort Dauphin, Madagascar, to support the operations of its QMM ilmenite mine. Their operations in Madagascar will achieve their carbon neutral goal by 2023 thanks to this initiative, which uses solar and wind energy.
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New legislation, corporate action, and public interest have created both an imperative and opportunities associated with rapid and profound CO2 reduction and removal. Net-zero industrial hubs present a pathway to focus investment, innovation, and public policy to create industries and infrastructure toward achieving that goal. Such a hub would require building facilities, plants, and linked infrastructure that would reduce and eventually eliminate greenhouse gas emissions through the application of advanced clean energy, emissions control technology, and possibly CO2 removal technology.
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With constantly declining prices and increasing efficiencies of solar panels and batteries, a large section of customers could generate, store and consume their own electricity. Today, the primary revenue for electric utilities is from the sale of energy to their customers, which is going to be seriously impacted in the near future. Since these changes are already on the horizon, it is important for utilities to consider new revenue streams for growth and sustainability.
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Green awareness in the industry is poor, according to market participants. Because of the regulation, some people have started to have green portfolios. Investors were also found to have little knowledge about or experience with renewable energy. Many market participants feel that there aren’t enough profitable renewable projects in the pipeline for municipal governments and that the Indonesian financial services authority may demand the underlying project to run first, even before the bond is issued, to ensure that the project is real.
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Until now, Adani Green Energy Limited (AGEL) had been focusing on renewable energy capacity expansion through greenfield investments. With this strategy, its renewable energy portfolio grew substantially, from only 0.3 GW in 2015-16 to 14.8 GW in 2020-21. However, recently, it signalled its strong interest in augmenting its renewable energy exposure through acquisitions as well. In May 2021, AGEL acquired SB Energy India, which has 4.95 GW of renewable assets, through an equity purchase worth $625 million (about Rs 46 billion).
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The Biden administration has committed the United States to delivering 50-52 percent economy-wide GHG emission reductions by 2030 through its Nationally Determined Contribution (NDC), setting the stage for strong global action on climate. NRDC has shown that reducing emissions is achievable and technologically feasible at modest costs with smart planning and policymaking. While achievable, reaching this goal is no small feat, and significant shifts towards clean alternatives to fossil-based energy must continue throughout the economy, beginning with the power sector.
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New Jersey’s governor has recently signed a Bill that would remove most local control from where and how offshore wind energy projects come ashore. Aside from granting local communities a public hearing on an offshore project that comes ashore in their town, the measure strips those communities and their elected officials of most control over where and how the project’s power lines and associated infrastructure are installed onshore.
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Fitch Solutions highlight Spain and Japan as global solar power outperformers. Robust government support, declining renewables costs and a sizeable project pipeline will support substantial solar capacity growth in Spain. Japan is currently the second largest solar power market in Asia and will see the third largest capacity growth in the region, driven by the adoption of distributed solar generation systems. Poland is the solar power market to watch.
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BP has struck an exclusive consultancy deal with Quaybridge, a UK-based renewables consultancy with experience in offshore wind, as part of its efforts to expand its renewables business. The two will collaborate to advance BP’s worldwide offshore wind portfolio as part of its zero-carbon growth goal.
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Distributed Power Africa (DPA), an Econet Global group member, has started installing solar panels at Total service stations in Zimbabwe. DPA and Total Zimbabwe, a subsidiary of the French oil giant Total Energies, will collaborate to solarize 15 service stations.
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According to a research by the Blue Economy Cooperative Research Centre, Australia has 2,233 GW of ‘technically accessible resource’ in offshore wind and a ‘major obstacle to investment and development’ due to a lack of a legislative framework that would assist it.
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Neptune Energy, a UK-based independent company, will host the world’s first offshore green hydrogen project – PosHYdon – on an active oil or gas platform in the Dutch North Sea. The project will be hosted 13 km off the coast of Scheveningen. The 1 MW electrolyzer will be capable of producing up to 400 kg of green hydrogen each day.
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DNV, a Norwegian ship quality assurance and risk management organisation, has granted Samsung Heavy Industries approval in principle (AIP) for its independently designed offshore floater for wind power turbines. AIP for the floater implies that a certification body has evaluated its fundamental design and certified that it satisfies the agency’s technical requirements and standards for use.
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Cubico Sustainable Investments and GLIL Infrastructure have awarded Anesco 12 contracts to offer operations and maintenance services for their 148MW UK-wide solar farm portfolio. The agreement is Anesco’s single largest O&M portfolio to date, and it has increased its maintenance order book by nearly 14 percent.
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Estonia and Latvia have signed a memorandum of understanding to jointly establish an offshore wind farm in the Baltic Sea’s Gulf of Riga. The proposed offshore wind farm has a capacity of up to 1,000 MW and is expected to be operational by 2030.
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Wärtsilä, a technology company, will supply Pivot Power, a subsidiary of EDF Renewables, with 100MW / 200MWh of energy storage systems for its next two projects in the West Midlands, England, to support the roll-out of Pivot Power’s revolutionary Energy Superhub concept. Wärtsilä will instal batteries in two locations: Coventry and Sandwell, on the outskirts of Birmingham.
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Renewable energy is one of the few industries that may anticipate increased investment inflows in 2020. Despite the ongoing COVID-19 epidemic, which has had a significant impact on investments, investors committed a record US$501 billion to low-carbon assets in 2020, up 9 percent from the previous year.
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PwC Kazakhstan presents the results of a study “The Renewable Energy Sources Market (RES) in Kazakhstan: Potential, Challenges, and Prospects” as of 31 December 2020. The study contains an analysis of data for each RES facility in Kazakhstan, including the location, capacity, and net capacity factor, as well as results of a survey featuring the largest participants of the RES market in Kazakhstan: RES producers, development banks, the regulator, scientists, analysts, and consultants directly involved in the creation of RES facilities in Kazakhstan, and other respondents who wished to maintain confidentiality.
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The first ever IEA market report dedicated to hydropower highlights the economic and policy environment for hydropower development, addresses the challenges it faces, and offers recommendations to accelerate growth and maintain the existing
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EDF Renouvelables has launched a crowdfunding campaign for the 23MW Champ Gourleau wind farm, which is now under construction in the Bourgogne-Franche-Comte region of France
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