BCPG PLC, a Thai renewables firm, has invested $24 million in VRB Energy, a producer of vanadium flow batteries, to help it expand its worldwide energy storage business.The investment will go into developing VRB Energy’s unique storage system, enhancing production capacity, and vertically integrating vanadium processes.
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Offshore wind could become an important way to produce hydrogen at scale. The project pipeline is growing rapidly, costs are falling and non-economic factors are poised to boost uptake. BloombergNEF estimates that a mid-range price for offshore wind-to-hydrogen will be around $7/kg in 2025, dropping to $1/kg by 2050.
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The necessity for a stable climate, decreased fuel costs, reduced petroleum dependency, and clean air, especially for those who are disproportionately affected by pollution, definitely acts as factors that motivate governments to move to electric cars. Major economies with significant car production, such as China, Japan, Germany, the United States, and others, suffer the biggest industry risk if they delay the transition to electric vehicles. In a related development, the Biden administration’s American Jobs Plan proposes $52 billion in U.S. assistance for domestic manufacturing, including tax incentives and access to financing.
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Germany and Chile recently signed a letter of intent for a bilateral alliance on hydrogen production and trade to enable a renewable energy hydrogen supply chain between the nations. Under this, a green hydrogen working group would be created as a part of the Chilean-German Energy Association (AEE).
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Vitol has granted a $70 million balance of plant contract to a subsidiary of US contractor Infrastructure and Energy Alternatives (IEA) for the 240 MW Big Sky wind farm repowering in the US state of Illinois. The repowering of the Big Sky wind farm in Bureau and Lee Counties will begin in August 2021 and is scheduled to be finished in July 2022.
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The last unit of GE Renewable Energy’s Wudongde (WDD) hydropower plant has been successfully linked to the grid for electricity generation and has completed 72 hours of trial operation. The company was responsible for the design, engineering, manufacture, installation monitoring, and commissioning of the six 850 MW Francis turbine generating sets and accompanying equipment for the hydropower project under a contract signed in 2015.
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The African Development Bank, the Korean Ministry of Economy and Finance, and the Export-Import Bank of Korea have signed an agreement under which South Korea will co-finance energy projects with the African Development Bank for $600 million. Korea’s funds will be invested in renewable energy generation, transmission, and distribution through the Korea Eximbank.
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Europe is making efforts to build a strong and secure transmission network as it is a widely recognised prerequisite to meet the region’s energy and climate goals. Building a grid that supports further integration of renewable energy sources (RES) and strengthening the internal energy market while maintaining system security and achieving sustainability goals involves massive investments.
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Mainstream Renewable Power (MRP), a renewable energy company located in Ireland, has agreed to buy an 80 percent share in Vietnam’s Technology and Development Joint Stock Company (D&T). D&T is currently building a 405MW solar project portfolio in central Vietnam’s Dak Nong region.
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In its most recent 2.7GW offshore wind auction, Atlantic Shores and Orsted emerged as winners. The former, a joint venture of EDF Renewables and Shell, won with a 1.5GW offer in the southern half of its lease area, 17 km from shore. The New Jersey regulators also awarded the tender to build the 1,148 MW Ocean Wind 2 farm to Denmark’s Orsted
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Sonnedix, a global independent power producer, has purchased a 300 MW solar PV portfolio from developer RIC Energy, with construction set to begin around the end of 2022. The portfolio is based in the east-central Spanish city of Cuenca and it is divided into two 150 MW projects with secured land and grid access.
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According to the Zimbabwe Energy Regulatory Authority (ZERA), seven solar PV projects totaling 66.6 MW are presently in advanced stages of construction and are anticipated to be grid-connected by the end of this year. This includes the country’s largest solar plant under development is a 25 MW project in Matabeleland North province.
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Photovoltaics is a fast-growing market: The Compound Annual Growth Rate (CAGR) of cumulative PV installations including off-grid was 34% between year 2010 to 2020. In year 2020 producers from Asia count for 95% of total c-Si PV module production. China (mainland) holds the lead with a share of 67%. Europe contributed with a share of 3%; USA/CAN with 2%. In 2020, Europe’s contribution to the total cumulative PV installations amounted to 22% (compared to 24% in 2019). In contrast, installations in China accounted for 33% (same value as the year before).
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Offshore wind energy, alongside onshore wind, is at the core of how Europe can deliver on the Green Deal. The immense wind energy resources available in European waters demands an ambitious EU-wide coordinated and long-term approach for the benefit of all.
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HB 2021, Oregon’s “100% Clean Electricity” bill just approved by the legislature and sent to Governor Brown’s desk for signing, aligns with New York for the most aggressive state clean electricity goal in the country—zero greenhouse gas emissions in the grid by 2040. Together with commitments by California and Washington to the same outcome by 2045, it envisioned a 100% clean west coast before mid-century.
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Enlight Renewable Energy signed a formal deal for acquiring a stake in Clēnera, a solar and storage company in the United States, for up to $433 million. Enlight will buy 90 per cent of Clēnera’s shares through a subsidiary in the United States, while the founders will keep 10 per cent.
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Vestas has been awarded a contract for supplying turbines to the 113 MW Sumita Tono Wind Farm in Japan. The site for the project is located in difficult hilly terrain in the Iwate prefecture.
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Amazon has unveiled the first stage in its Middle East and North Africa (MENA) sustainability plan,. The company will be setting up a rooftop solar plant atop its DXB3 fulfilment centre in Dubai, UAE. The rooftop system’s 5,565 panels will generate on-site solar energy to meet 60 per cent of DXB3’s energy needs.
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NewMotion, a Shell group company specialising in smart EV charging solutions is the first charge station operator to be licenced to provide grid balancing services. Tennet, a Dutch grid company has licenced them to keep grid frequency at 50 Hz balancing services.
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There is a growing global movement towards corporate sourcing of renewables as companies opt for green energy to meet their power requirements and ultimately transition to zero carbon. This trend has continued even amidst the Covid-19 pandemic as green economic recovery assumes centrestage in many countries. Companies across all major sectors, including services, manufacturing, food and beverage, retail, materials, infrastructure, apparel, healthcare and pharmaceuticals, hospitality and transportation services are switching to greener power sources.
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