Climate change and net-zero commitments are accelerating the shift from fossil fuels to alternatives such as clean hydrogen. The race is on to adopt hydrogen technologies, with some countries positioning to become tomorrow’s hydrogen superpowers. But who are the frontrunners in the race to adopt and scale up clean hydrogen and other low-carbon fuels.
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Under the New York Bight auction, the US Bureau of Ocean Energy Management (BOEM) has leased a 480,000-acre renewable development site offshore of New York and New Jersey. RWE Renewables, Ocean Winds, Invenergy, and Atlantic Shores were declared provisional auction winners by BOEM. Companies in the auction process submitted winning bids totaling $4.37 billion.
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In response to Russia’s invasion of Ukraine, the Danish energy provider Ørsted has decided to stop sourcing biomass and coal from Russia for its power plants. The company has decided not to contract any Russian companies for its renewable energy projects because it finds the situation “deeply disturbing.” It has also stated that it will not enter into any new contracts with Russian enterprises and will ensure that no direct Ørsted suppliers for the development of renewable assets are Russian.
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Boralex, a Canadian renewable energy company, has decided to sell a 30 per cent stake in its renewable assets and development pipeline in France to Energy Infrastructure Partners (EIP), a Swiss investment group. The transaction is part of the two companies’ long-term collaboration. The deal encompasses operating assets with a total capacity of more than 1 GW, as well as a 1.5 GW project pipeline in the works. Boralex will get up to $596 million in cash at the conclusion of the transaction.
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The German Federal Network Agency, BNetzA, has issued a tender for the development of a 1 GW offshore wind farm in the North Sea. BNetzA has also announced that the bidder with the lowest subsidy required for the North Sea wind farm would be considered for the contract. The maximum value for bids is 6.4 ct per kWh. The bid submission deadline is September 1, 2022, and the project is expected to be finished in 2027.
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OX2, a renewable project developer based in Sweden, has applied for a permission to build a 1.8 GW offshore wind farm off the coast of Skne in the south of the Sweden. The application was submitted under the Swedish Exclusive Economic Zone Act. The Triton wind farm, proposed by OX2, will be located 30 kilometres south of Ystad and will include up to 129 turbines with a maximum height of 370 metres.
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Capton Energy is a joint venture (JV) between Siemens and Desert Technologies, a Saudi Arabian solar energy provider. Siemens Financial Services (SFS) and Desert Technologies will jointly own Capton. The JV will be based in Dubai, United Arab Emirates, and will invest in solar and smart infrastructure development in the Middle East, Africa, and Asia. Capton Energy aims to support projects with a total capacity of more than 1 GW that would bring sustainable energy to underserved markets.
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Ecoppia, an Israeli company that specialises in robotic cleaning solutions for photovoltaic solar, has announced the signing of a 400 MW hybrid project with Azure Power, a renewable energy provider. The robotics deployment, which is slated to begin in the first half of 2022, will include Ecoppia’s whole product suite, including the E4, T4, and Ecoppia’s newest addition, the Ecoppia H4, all of which are driven by the company’s Helix Technology.
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Tata Power has announced that it has joined forces with RWE Renewable GmbH of Germany to explore potential for a joint development of offshore wind projects in India. The MoU between Tata Power Renewable Energy and RWE is relevant in consideration of the Indian government’s announcement that 30 GW of offshore wind projects will be installed by 2030 to address the country’s expanding power demands.
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In ASEAN, CCUS could be fundamental in helping the region decarbonise energy systems from coal-based electricity generation and in achieving the net-zero target. Some AMS have expressed interest in deploying CCUS technologies in their countries. However, none has established specific measures or an action plan, such as policy support from governments towards the energy transition and low-carbon economy through CCUS development.
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From the largest metropolitan areas in the United States like New York City to rural communities in Georgia, we need cleaner, more affordable, and efficient transportation options if we are going to solve climate change in a way that uplifts communities. Spent wisely, the $7.5 billion in EV charging funding can help us deliver the national backbone for a far superior fast charging network than exists today.
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AMPYR Solar Europe (ASE), a European solar energy company, has acquired a €400 million loan from CarVal Investors to put more than 2 GW of solar power capacity online in Europe by 2025. CarVal has contributed a €250 million first tranche and a €150 million supplemental tranche to assist ASE’s project. The loan will be used to fund the construction of the solar assets, as well as development capital and operating expenses.
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EL) and the Department of Energy (DoE) are collaborating on a cutting-edge concentrated solar power (CSP) plant, with the intention of reducing energy costs to only 5 cents per kWh. The new technology is expected to reduce the cost of renewable energy while also ensuring that dispatchable energy is accessible at all times of the
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Greenko Group and Ayana Renewable Power have entered into an arrangement to provide standalone storage capacity in India. Under this partnership, the companies will collaborate to create robust and dispatchable renewable energy solutions for industrial and distribution companies in India, including a round-the-clock power supply of up to 1 GW.
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The 4th India-Australia Energy Dialogue was conducted on February 15, 2022, during which a letter of intent on new and renewable energy technology was signed between India and Australia. According to the government’s statement, this letter of intent will pave the path for lowering the cost of innovative and renewable energy technology and scaling up deployment to reduce global emissions faster.
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The US government plans to spend $2.91 billion to boost the country’s production of advanced batteries and related materials in order to assist the expansion of renewable energy sectors. The Department of Energy (DOE) has issued two notices of intent to support battery material refining and production plants, battery cell and pack manufacturing facilities, and recycling operations.
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Solek Latam Holding, a Chilean subsidiary of the Czech renewable energy business Solek Group, has signed a framework agreement to construct solar projects in Chile. The solar projects will be created and then sold to BlackRock’s Global Renewable Power Fund III (GRP III) under the terms of the agreement. Solek will manage the projects’ operations and maintenance, while Aediles Capital will manage the assets on behalf of GRP III.
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Floating solar could be a valuable tool to help African nations expand their power infrastructure sustainably, according to a new study and an energy expert. If panels covered 1% of reservoirs, this alone could double African hydropower capacity and increase electricity generation from dams by 50%. But unknowns remain, such as the impacts on water quality and technical challenges including the impact of bird fouling and corrosion.
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Norway is planning to launch 1.5 GW offshore wind tender in the southern North Sea later in 2022. The Norwegian prime minister stated that the first project might be operational by the end of this decade. He also highlighted that the viability of offshore wind projects might be contingent on government assistance in the form of state subsidies. The turbines’ second phase of development will take place in the same area of the southern North Sea.
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Acciona Energia has acquired Red-Tailed Hawk, a 350 MWac solar photovoltaic (PV) project in the US, from Avondale Solar and Solar Plus Development. The project will be developed by Avondale Solar’s subsidiary, AP Solar Holdings, in collaboration with Solar Plus Development in Houston, Texas. The construction of the project will cost $460 million.
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