United States-based power generation developer, investor and operator NTE Energy has announced its plans to develop more than 5 GW of clean energy projects in the next five years. It is planning to develop a clean energy pipeline of 1.2 GW solar and 3.9 GW battery energy storage systems. The company expects 3 to 4 GW of these projects to come online by 2026.
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Australian Gas Infrastructure Group (AGIG) with its partners has submitted two proposals to the Australian Renewable Energy Agency (ARENA) for green hydrogen projects in Victoria and Western Australia. These projects were selected by ARENA along with five other projects after expressions of interest in May 2020 as part of the $70 million Renewable Hydrogen Deployment Funding Round.
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The U.S. International Development Finance Corporation (DFC) and Shell Foundation (the UK-registered charity) have announced a new collaboration that will promote renewable energy uptake in low-income areas of Africa and Asia. The collaboration aims to improve gender inclusion and to bring affordable renewable energy to more than 5 million people in these regions.
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Current forecasts anticipate that demand for hydrogen will continue to steadily increase towards 2050. With so many sectors considering hydrogen as a zero-emission energy carrier or fuel, steady demand from existing off-takers will be augmented by the rise in demand from customers in new sectors. Current data suggest that global hydrogen demand will require additional generation of 35-1,100 TWh per year by 2030, increasing to 300-19,000 TWh per year by 2050.
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Rather than taking a backseat, state leadership must now continue alongside a more supportive federal government, allowing the US to achieve deeper emissions reductions through a new climate federalism framework that leverages comparative strengths at different levels of governance. Here are seven high-impact policies to watch in 2021, as well as federal programs and policies that can encourage and reinforce state-level climate action plans.
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UAE based energy company Masdar has achieved the first close on an acquisition of a clean energy portfolio from EDF Renewables North America. The transaction involves the acquisition of 50 per cent of a total 1.6 GW project portfolio in the United States. This follows a decision made by the companies last year to partner for eight renewable energy projects in the United States.
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Macquarie Infrastructure and Real Assets (“MIRA”) has raised more than €1.6 billion for investment in renewable energy against its initial minimum fundraising target of €1 billion. The company has reached the final closure of its 25-year closed-end fund, Macquarie Green Investment Group Renewable Energy Fund 2 (“MGREF2”). MGREF2 will invest in a diversified portfolio of operational and under construction solar and wind power projects as well as clean energy platforms.
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bp and Energie Baden-Wuerttemberg AG (EnBW) of Germany have together emerged as the preferred bidder for two major leases in the UK Offshore Wind Round 4. Both these leases are located in the Irish Sea and together offer a total potential to generate 3 GW of offshore wind power. This is the first such UK leasing round since 2010 and offers a 60-year lease life.
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Fitch Solutions has developed a Hydrogen Index which assesses the suitability of a market for the development of a green hydrogen industry. South Africa remains the region’s top-ranked market, given its well-established power sector and having the largest installed non-hydropower renewables capacity in SSA.
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The European Investment Bank (EIB) has announced EUR 38.5 million of new financial and technical support to Burkina Faso for promoting solar power development. The funding will also be used to protect its capital city Ouagadougou from future flooding. Through this financing, EIB aims to improve energy access in the country and address the risks caused by extreme weather.
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AGP has formed a joint venture with Hartree and NaGa Solar to deploy solar projects across the UK, the Netherlands and Germany. The new venture, called AMPYR Solar Europe (ASE), aims to develop at least 4 GW of solar projects in these three nations. With this joint venture, the companies aim to combine AGP’s experience in developing large-scale renewable power projects, Hartree’s cutting edge power trading analytics and zero carbon solutions and NaGa’s in-depth local knowledge and land development prowess.
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Ameresco and Wells Fargo have partnered up to develop about 30 MW of new solar capacity at Wells Fargo retail and administrative locations across seven states in the United States. These onsite solar generation assets will include rooftop, carport and ground mounted systems in Arizona, California, Connecticut, Iowa, New Jersey, North Carolina and Texas. The implementation of these projects is expected to begin in April 2021.
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The Asian Development Bank (ADB) and Japan’s Ministry of Economy, Trade and Industry (METI) have signed a memorandum of cooperation (MOC) for clean energy promotion in South-East Asia. The cooperation, under the Cleaner Energy Future Initiative for ASEAN (CEFIA), will strengthen their efforts in the areas that focus on energy transition including renewable energy, energy conservation and efficiency.
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Israel-based OPC Energy recently announced the closure of its acquisition of Competitive Power Ventures (CPV) from Global Infrastructure Partners (GIP) after receiving the required regulatory approval. With this transaction OPC fully owns CPV’s operating assets, development pipeline and asset management business. OPC has partnered with three Israeli institutional investors to carry out this acquisition.
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EDEN Renewables India, a joint venture of Total Eren and EDF Renouvelables, has successfully secured financing for its 450 MWp SECI III solar PV project. The said project has recently received a green limited recourse project term loan of $165 million from a group of three major international banks – DBS Bank Ltd, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation (Singapore Branch).
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Real Energy’s hydrogen division Pure Hydrogen has signed a binding agreement with Liberty Hydrogen to establish a joint venture company that will develop four large-scale hydrogen projects in Australia. These large-scale hydrogen manufacturing and distribution hubs are planned to be developed on Australia’s East Coat – Project Jupiter (Gladstone) and Project Mars (Mackay) in Queensland, Liberty North (Newcastle) in New South Wales and Liberty South (South East Victoria) in Victoria.
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Statkraft has signed a cooperation agreement with Aker Offshore and Aker Horizons to explore the possibility of developing, operating and delivering energy from offshore wind projects in Norway. The said cooperation plans to explore the possibility of setting up a bottom-fixed offshore wind project at Sørlige Nordsjø II (“SN2”).
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Bangladesh’s overall power system utilisation has fallen again in FY2019-20 to just 40%, down from 43% in the prior year. Instead of replacing the coal power projects with LNG, the Bangladesh government should consider using the land set aside for these projects for renewable energy installations. Another key part of a successful response to Bangladesh’s overcapacity problem would be investment in the transmission and distribution system.
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The series takes a deep dive into the transportation electrification policies New Jersey will need to meet its ambitious climate laws. Together, they explore whether New Jersey needs more ambitious transportation electrification goals, the state’s existing plans to realize their goals, and the next steps New Jersey should take to decarbonize its transportation system. Ultimately, this blog series aims to holistically examine electrifying all segments of the transportation sector.
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While China’s commitment to carbon neutrality by 2060 is a good start, electricity demand is already forecast to double by 2050 (from 2017 levels). It therefore must urgently step up its efforts to improve energy efficiency, adopt green and low-carbon energy, expand energy storage, deploy carbon capture and sequestration technologies, and develop a framework for low-carbon urbanization. Many of the needed technologies are already available, and East Asia has the scale to bring down their cost to a level that would enable widespread adoption.
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