Plus: VW chases batteries big-time; $40 million for geothermal in NE BC
Hi everyone,
Spring is officially here in Calgary – according to the calendar – and the amount of snow that has melted in the last two weeks. The warmer weather and longer days does wonders to offset the COVID fatigue many of us are still feeling here in Canada.
Start with my comments and scan the rest of the headlines at your leisure. Forward on to others you think would appreciate getting this and encourage them to subscribe.
Have a great couple weeks!
Peter
Observations and Comments
The Canadian government announced funding for a pair of projects aimed at advancing non-emitting electricity generation: $40 million for an indigenous geothermal electricity project in northeast BC and $50.5 million to advance Small Modular Nuclear technology in New Brunswick. Sorry to say neither story has a lot of detail on the technologies. I’m particularly interested in the geothermal project for two reasons. The first is that it holds the hope of unlocking access to affordable energy for remote indigenous communities – in this case, enough power for 14,000 homes. The second is that a number of recent advancements in harnessing geothermal raise the prospect of the energy source to compete on cost, potentially opening the door to much wider use.
Now all six big US banks have made net zero pledges within the last six months. Wells Fargo and Goldman Sachs are the last two to make announcements – see Social section. All face challenges on how to deliver on the commitments, so watch for more details over the coming year. A first priority will be to measure what is managed – so transparency and reporting of where the money goes and the impact on climate will see a strong push. Exactly how to benchmark investments is something still being worked out, but the inertia behind transparency in the Finance sector is a force to be reckoned with.
Check out the Transportation section for several stories profiling VW: orders $14B in battery cells, plans to build 6 battery factories, slash costs in half and further invests in European charging infrastructure. Meanwhile in the US, LG Energy plans to invest $4.5B in battery production and Rivian laid out plans for a network of 3,500 fast chargers at 600 locations.
Sweden’s electricity transmission system operator TSO Svenska Kraftnät took in proposals for 50GW of offshore wind, with the majority in the south. With existing installed capacity of 16GW, I imagine plans include export. For me it is just another marker of the massive build out of offshore wind occurring. Sorry – I wasn’t able to get much on this story.
It’s not often we see stories about Vanadium Redox Flow batteries, but a Canadian headquartered company is developing a big one in China (see Energy Storage section). Flow batteries offer longer duration storage (e.g. 4-8 hours, or even longer), compared to 2-3 hours for lithium-ion. However, flow batteries need a lot of space for the big tanks of liquid, so these only see applications in grid storage or large remote industrial settings. They also maintain performance and last far longer (>20 years), after which recycling recovers valuable contents.
Ever wonder what is involved in recycling electric car batteries? Check out this video from VW.
Consumers & Finance
Goldman Follows Rivals in Setting Net-Zero Emissions Targets | BNN Bloomberg
Three days after new Citigroup Inc. Chief Executive Officer Jane Fraser outlined a net-zero greenhouse-gas emissions target, Goldman Sachs Group Inc. CEO David Solomon is following suit. Goldman is joining rivals in pledging to achieve the goal in its financing activities by 2050, and for supply chains by 2030.
Wells Fargo is the last of the Big Six banks to issue a net-zero climate pledge | Fortune
On Monday, Wells Fargo became the last of the U.S.’s six largest banks to commit to a carbon neutral future, pledging that all the bank’s operations—including projects and companies it finances—will achieve net-zero carbon emissions by 2050.
Anthesis targets three gigatons of carbon mitigation and removal by 2030 | edie
Impact investor and consulting firm Anthesis is aiming to support projects that collectively avoid, reduce and remove three billion tonnes (three gigatons) of carbon by the end of the decade.
Swiss Re Plans Coal Exit, $100 Carbon Levy on Road to Net Zero | BNN Bloomberg
Two years after committing to cut its net emissions to zero by 2050, Swiss Re gave more specifics Tuesday on how it plans to achieve its target. The world’s second-largest reinsurer said it intends to reduce the carbon intensity of its corporate bond and equity portfolio by 35% from 2018 levels by the middle of the decade. It also plans to phase out providing coal insurance to Organisation for Economic Cooperation and Development member states by 2030 and the rest of the world by 2040. In addition, Swiss Re unveiled an internal carbon levy of $100.
Technology
Hydrogen
Plans unveiled for major hydrogen injection project in Canada | H2 View
Plans for one of Canada’s largest green hydrogen projects for injection into a natural gas distribution network in Quebec are underway. Evolugen and Gazifère, an Enbridge company, have teamed up on the project that includes the development of an approximately 20MW water electrolysis hydrogen production plant.
Bill Gates backs $1/kg green hydrogen water splitter technology | RenewEconomy
A potential game-changing green hydrogen technology developed by Israeli-based company H2Pro, which is aiming at producing green hydrogen at $US1/kg, has closed a $US22 million funding round led by Bill Gates’ Breakthrough Energy Ventures.
UK developer eyes Gladstone for big solar, hydrogen, and storage project | RenewEconomy
London-based renewable energy developer Eco Energy World says it hopes to expand the already-approved 300MW Raglan solar farm in Queensland to include a 200MW hydrogen electrolyser plant and a 100MW battery storage project.
Big Hydrogen Production Plans of Proton Technologies | Yahoo News
Proton Technologies began separating hydrogen again in late February at their project in Saskatchewan, Canada. The new separation unit is for multi-year hydrogen filter longevity and iteration testing, with hydrogen truck-loading expected later this year. Liquid oxygen is scheduled to be trucked in for injection at modest but still commercial scale. At the demonstration site production is expected to reach one thousand tonnes hydrogen per day after construction of a large air separation unit.
Carbon Capture
Suncor Energy invests in carbon capture technology company Svante | Svante
Suncor and Svante Inc. today announced an equity financing agreement which provides Svante with the additional growth capital to accelerate the commercialization of Svante’s novel second generation CO2 capture technology in North America for the decarbonization of industrial emissions and hydrogen production.
Schlumberger New Energy, Chevron, and Microsoft Collaborate on Carbon Negative Bioenergy | Financial Post
Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems today announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California.
Shopify hopes to ‘kickstart the market’ by buying contract to suck CO2 out of the air — 10,000 tons of it | Financial Post
The company, Canada’s Carbon Engineering, counts Bill Gates and oilsands investor Murray Edwards among its backers. Canadian e-commerce company Shopify Inc. announced Tuesday it will pay to remove 10,000 tonnes of carbon dioxide from the atmosphere, marking one of the first corporations to utilize large-scale carbon removal technology as part of its effort to limit climate change.
Energy Storage
China’s largest solar-plus-flow battery project will be accompanied by VRFB ‘gigafactory’ | Energy Storage News
Large-scale Vanadium redox flow battery (VRFB) technology looks set to be deployed at a 100MW solar energy power plant in China, two years after a smaller-scale demonstration project was commissioned in the region. Canada-headquartered vertically-integrated technology provider VRB Energy said that the solar PV power station will be integrated with a 100MW / 500MWh (five-hour duration) battery that the company is developing in Xiangyang, in China’s Hubei Province.
Exclusive: U.S. looks to Canada for minerals to build electric vehicles – documents | Reuters
The U.S. government is working to help American miners and battery makers expand into Canada, part of a strategy to boost regional production of minerals used to make electric vehicles and counter Chinese competitors.
South Australia gov’t welcomes approval for AU$3 billion wind-solar-storage project | Energy Storage News
South Australia’s government has welcomed the granting of planning approval for the first phase of a AU$3 billion (US$2.32 billion) large-scale hybrid renewable energy project in the state’s Goyder region.
Tesla is plugging a secret mega-battery into the Texas grid | BNN Bloomberg
Elon Musk is getting into the Texas power market, with previously unrevealed construction of a gigantic battery connected to an ailing electric grid that nearly collapsed last month. The move marks Tesla Inc.’s first major foray into the epicenter of the U.S. energy economy.
Texas’ grid to get 200MW of battery storage from Wärtsilä | Energy Storage News
Two standalone battery energy storage systems (BESS) totalling 200MW of output will be deployed in Texas’ ERCOT market by the energy division at Wärtsilä Corporation.
Tesla scores over 100 MW order for batteries in Israel | Electrek
Tesla has scored a contract for 100 MW of batteries for energy storage in Israel as it enters the market.
Solar and Wind
50 GW in wind planned off Sweden’s coast | Energy Watch
Applications have been filed for 50,000 MW in offshore wind expansion on the Swedish shelf, but the prospects of a huge build-out doesn’t yet worry TSO Svenska Kraftnät. There are big plans for offshore wind in Sweden, as evident in information from transmission system operator Svenska Kraftnät. In total, applications have been filed for almost 50,000 MW with the TSO, of which the majority pertains to Southern Sweden.
A just energy transition in action: Developing 1G of wind power with tribes | GreenBiz
For millenia, the ancestral homelands of the Oceti Sakowin or Lakota — the proper names for the people commonly known as the Sioux — spread across an area equivalent to 159 million acres. The territory included present day North and South Dakota, stretching into parts of Minnesota, Iowa, Wisconsin, Nebraska, Wyoming and Montana.
China leads world’s biggest increase in wind power capacity | The Guardian
Developers built windfarms with a total capacity of almost 100GW in 2020, a rise of nearly 60% on previous year. China built more new windfarm capacity in 2020 than the whole world combined in the year before, leading to an annual record for windfarm installations despite the Covid-19 pandemic.
Duke Energy Florida announces two more new solar farms | Electrek
Duke Energy Florida has announced that it will build two more new solar farms in the Sunshine State. This time, they’ll be in Citrus and Hardee counties. The utility reported in February that it is investing an estimated $1 billion to construct or acquire a total of 700 MW of solar farms from 2018 through 2022 in Florida and will more than quadruple the amount of in-service solar on the system over the next four years.
Doubling of wind power generation blowing gas out of the mix in Victoria | RenewEconomy
A doubling of wind energy capacity on the Victorian grid since 2017 has “significantly displaced” fossil fuel power in the state, a new report has found, and created a unique generation profile that fits particularly well alongside solar – and has been particularly tough on gas.
Iberdrola adds to Japanese portfolio with 600-MW offshore wind project | Riviera
Spanish developer Iberdrola has accelerated its commitment to the Japanese offshore wind market with a new 600-MW project. It will co-develop the Seihoku-oki offshore windfarm and submit the project in Japan’s Round 2 auctions for offshore wind, together with the Japanese developer Cosmo Eco Power and engineering firm Hitz. The latest plan raises its portfolio of planned projects in Japan to 3.9 GW.
Autonomous vehicles
Canadian Tire embraces autonomous delivery in a deal to retrofit its middle-mile semi trucks | Electric Autonomy
Canadian Tire is incorporating Canadian-made autonomous technology into its vehicle fleet with a pilot program for short-haul runs between distribution centres and warehouses.
Transportation
Volkswagen’s EV power play: Build six battery factories and slash cell costs by half | The Driven
German carmaker Volkswagen will build six battery factories, install 18,000 charging stations, and reduce the cost of making batteries by half, group CEO Herbert Diess said at the company’s Power Day on Monday (Europe time).
VW orders $14B worth of battery cells | Electrek
Volkswagen Group confirmed that it placed a new order for $14 billion worth of battery cells from Northvolt’s Swedish gigafactory, and it is taking a bigger stake in the battery manufacturer.
VW, BP to Invest in Europe Car-Charging Network: Manager Magazin | Financial Post
Volkswagen AG, BP Plc and the oil company’s German gas station brand Aral are planning to invest in an electric-car charging network in Europe, Germany’s Manager Magazin reported. The plans involve more than 1,000 charging stations in cities and near highways.
[USA] Six Utilities Companies Join Up To Create A Massive Cross-Country EV Network | Jalopnik
One of the main things holding back the adoption of electric vehicles is the lack of infrastructure available to keep these cars charged and moving. Now, six major energy providers are teaming up to form the Electric Highway Coalition, which is aiming to create a comprehensive network of DC fast chargers throughout the South, Midwest, and Atlantic Coast.
GM unveils plans for lithium-metal batteries that could boost EV range | Engadget
GM has released more details about its next-generation Ultium batteries, including plans for lithium-metal (Li-metal) technology to boost performance and energy density. The automaker announced that it has signed an agreement to work with SolidEnergy Systems (SES), an MIT spinoff developing prototype Li-metal batteries with nearly double the capacity of current lithium-ion cells.
Quebec lands new $185-million Lion Electric Co. battery pack factory | Electric Autonomy
Following through on hints made in late 2020, Lion Electric Co. today announced their new battery pack factory will be situated in Quebec and operational by 2023.
Medium- and Long-Haul EV Trucks Cheaper to Own, Operate than Diesel – Study | The Detroit Bureau
Demand for battery-electric delivery trucks is growing rapidly, Amazon alone planning to purchase 100,000 vehicles from Rivian during the coming decade. It’s been less clear whether the market for medium- and long-haul trucks would gain traction, as well. But a new study by the Lawrence Berkeley National Laboratory should give proponents hope.
LG Energy Solution to invest $4.5 billion in U.S. battery production | Reuters
South Korea’s LG Energy Solution plans to invest more than $4.5 billion in its U.S. battery production business over the next four years, including plans to build at least two new plants, a senior executive said on Thursday.
Rivian reveals impressive map of over 600 planned fast-charging stations and wall charger | Electrek
The Rivian Adventure Network will grow to more than 3,500 fast chargers at over 600 sites by the end of 2023. Each site will have multiple chargers and will be conveniently located on highways and main roads, often by cafes and shops. These DC fast chargers will be for Rivian owners only, with details on pricing and associated programs coming soon.
BMW amps up EV plans, sees 50% all-electric sales by 2030 | CNET
BMW is charging ahead with even more expansive electric vehicles and increased sustainability efforts, as outlined at its annual conference that kicked off Wednesday in Munich, Germany. The luxury automaker says it expects around 50% of its global sales to be battery-electric vehicles by 2030.
Circular Economy
What does the circular economy have to do with meeting climate goals? | London School of Economics
Global demand for construction materials has risen substantially over the past decades. To keep global warming below 2°C, demand for steel and cement must peak by 2030 and fall below 2010 levels by 2070. The construction industry must make longer-lasting buildings and substitute low-carbon materials for high-carbon ones.
California legislators take aim at plastics with new bill package, including contested producer responsibility plan | Waste Dive
California lawmakers intend for this package of bills to be a “coordinated, multi-faceted approach” to addressing climate change and achieving the state’s goal of recycling, composting or reducing solid waste by 75%, they said in a news release announcing the package — a goal the state had hoped to, but did not, meet in 2020.
Policy
[Australia] NSW targets industrial emitters with $750 million decarbonisation push | RenewEconomy
The NSW government will spend $750 million to help slash the emissions of the state’s industries, investing in green hydrogen production, supporting industries to shift to low emissions manufacturing and funding new clean technology research and development.
DOE to spend billions on electric vehicle R&D in jobs fight with China | Smart Cities Dive
President Joe Biden’s administration is aggressively pursuing transportation electrification not just because of its potential to curb greenhouse gas emissions and address climate change, but also to prevent China from cornering a bourgeoning $23 trillion market in carbon-reducing technologies, Secretary of Energy Jennifer Granholm said Tuesday.
England to update bus services with a £3 billion plan involving hydrogen technology | CNBC
A £3 billion ($4.16 billion) plan to update bus services in England was announced Monday, with the British government describing it as the “most ambitious reform to the sector in a generation.”
Canada, Germany sign green energy deal in bid to power fledgling hydrogen sectors | JWN
Canada and Germany have signed an agreement to team up on green energy innovation and trade, with an eye to hydrogen as the market for the low-carbon fuel heats up.