Plus: Big push to exclude gas from green finance; Record 25GW Scotland wind auction; 7GW set for NY with another 2.5GW landed
Hi everyone,
As I embark on what is now the 6th year of providing these newsletters, I’d really like to hear from you. What would make this “even better”? As I say that, I want to be careful to manage expectations as this IS a hobby after all. Yet give me some feedback and ideas please! While you’re at it, forward this on to friends and colleagues and encourage them to subscribe.
If you only have time to read a little, start with my comments. Scan the rest of the headlines at your leisure.
Thanks,
Peter
Observations and Comments
Being of Dutch heritage, I am please to report another creative innovation has come out of Holland. Check out the video from the first story in Energy Storage. You’ll quickly see why this could be an excellent pairing with floating offshore wind to store energy and then deliver it to the grid when it is needed most. To incorporate ever-higher proportions of renewables onto grids, affordable energy storage will be needed. No cost information on this technology was provided, so it will be interesting to see how this progresses.
Carbon capture is getting a lot more attention in Canada and Alberta. Check out the stories in that section. While presently expensive, deployment at scale can be expected to bring costs down at the same time as the carbon price rises, making this an essential but one of many avenues to pursue to meet our climate objectives. It is good to see Canada and Alberta doing what other governments are already doing: acknowledging the place of carbon capture and storage and the pragmatism behind partnering with industry to get it deployed through shared investment.
An important signpost for me was the milestone in Europe of sales of electric vehicles overtaking that of diesel cars. One fifth we electric. Check out the Transportation section. Yet record high lithium prices threaten to slow the EV boom – see the Energy Storage section.
Finance & Sentiment
BlackRock Unveils Climate Funds Targeting the Toughest ESG Clients | BNN Bloomberg
BlackRock Inc. is launching two funds designed to live up to the European Union’s highest standard for sustainability, in an effort to draw in investors looking for the greenest products on the market.
Mukesh Ambani’s Reliance plans to invest $76 billion in green projects | Gulf News
The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion towards clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire.
Investors worth €50trn call on EU to exclude gas from green finance taxonomy | edie
Fossil gas should be excluded from Europe’s list of sustainable investments, according to a group of investors with €50trn worth of assets. The group added it was still considering whether to accept the classification of nuclear as a sustainable investment.
Exxon Plans to Zero Out Emissions from Operations by 2050 | Bloomberg via Yahoo
Exxon Mobil Corp. announced an “ambition” to eliminate some greenhouse gas emissions by 2050 in the oil giant’s first such long-term pledge to curb carbon output. Over the next two years, Exxon will develop roadmaps for its crude refineries, chemical plants and other facilities to eliminate so-called Scope 1 and 2 emissions, the company said in a statement on Tuesday. The plan, however, excludes carbon spewed when customers use Exxon products such as gasoline and jet fuel, or Scope 3 emissions that comprise the bulk of oil-industry pollution.
Technology
Hydrogen & Carbon Capture
Omega 1 Internal Combustion Engine is Light, Powerful, Efficient and Clean | The Kneeslider
A single Omega 1 internal combustion engine from Astron Aerospace
The Omega 1 from Astron Aerospace is a brand new internal combustion engine concept and I really mean brand new. A single engine, as shown in the above, image weighs 35 pounds, produces 160 horsepower, 170 foot pounds of torque, idles at 1000 rpm and has a redline of 25,000 rpm. The engines can be stacked end to end and each additional unit adds the power of a single unit, two engines 320 horsepower, etc.. The power to weight ratio is incredible.
Canada Readies Carbon Capture Credit, Emissions Plan | BNN Bloomberg
Canada is preparing to roll out a tax credit for investments in carbon capture, a key step to reduce greenhouse-gas emissions from its oil sands, and will soon outline its 2030 goals for pollution cuts.
Alberta prioritises oil sands’ carbon storage hub, energy minister says | Reuters via Yahoo
The government of Alberta, Canada’s main oil-producing province, plans to move forward “very, very quickly” on its next carbon sequestration hub in the Cold Lake region that will serve oil sands producers, Energy Minister Sonya Savage told Reuters. Alberta is currently accepting requests for proposals to operate an underground carbon storage hub serving the Alberta Industrial Heartland (AIH) zone near Edmonton.
Australian gas giant Woodside plans 290MW liquid hydrogen production facility in Oklahoma | pv magazine
Australian oil and gas giant Woodside has entered front-end engineering design (FEED) on a hydrogen project for the first time, awarding a contract in late December for FEED engineering services to Kellogg, Brown & Root (KBR) for its proposed H2OK project in Oklahoma.
Canadian Pacific railroad expands hydrogen train program with fuel cell purchase | Electrek
Canadian Pacific railroad and Ballard Power Systems, a maker of hydrogen fuel cells, announced plans to significantly expand CP’s Hydrogen Locomotive Program, adding eight additional 200 kW fuel cell modules to their initial order
Grid Innovations
[UK] Domestic flex could reduce peak demand by 23%, finds Crowdflex project | Current±
The Crowdflex project – run by SSEN Distribution, National Grid ESO, Octopus Energy and Ohme – has found that domestic flexibility can significantly reduce peak demand, with further reductions enabled by electric vehicles (EV).
UK smart meter deployments reach 17 million households, nearly doubling in 2021 | Current±
The national smart meter network operated by the Data Communications Company (DCC) now has over 17 million meters connected.
Connecticut utilities launch 580MW aggregated Energy Storage Solutions incentives programme | Energy Storage News
A programme incentivising the deployment of customer-sited energy storage systems (ESS) has been launched by the two main investor-owned utilities serving the US state of Connecticut. Called Energy Storage Solutions and overseen by Connecticut’s Public Utilities Regulatory Authority (PURA), the two utilities will offer upfront incentives to homes and businesses to reduce the cost of buying battery storage systems.
Energy Storage
Utility scale ocean battery, a bedfellow for floating PV | pv magazine
Watch this 3 min video! The Ocean Battery is based on hydro dam technology that can be deployed at the source of power generation. Source: Ocean Grazer
A new underwater battery storage technology is coming from Netherlands-based Ocean Grazer to address the issue of offshore long-duration storage. The company’s Ocean Battery is touted as innovative yet simple, based on existing technology, and capable of enhancing marine life along the way.
Goldman Sachs invests $250 million in Hydrostor to advance compressed air energy storage projects | pv magazine
The investment is planned to support development and construction of Hydrostor’s 1.1GW, 8.7GWh of Advanced Compressed Air Energy Storage projects that are well underway in California and Australia, and help expand Hydrostor’s project development pipeline globally.
LG Energy Solution IPO attracts $80bn in bids | pv magazine
LG Chem’s energy storage and battery division’s $10.7 billion initial public offering received a staggering response from institutional investors, Reuters has reported.
QuantumScape signs up Fluence as first non-automotive partner for solid-state battery tech | Energy Storage News
Fluence has entered a collaboration with solid-state lithium-metal battery startup QuantumScape, with the pair working together to develop stationary energy storage solutions using the new technology.
Record High Lithium Prices Threaten The EV Boom | Oil Price
Soaring demand for key energy transition minerals and supply chain issues have propelled lithium prices to record highs, threatening to unravel a decade of steady declines in battery costs. Lithium prices hit a record high at the start of 2022, and analysts say that the rally still has legs to continue even higher.
Solar and Wind
New York Bight gets green light for massive 480,000 acre [up to 7GW] offshore wind deal | Electrek
The New York Bight auction will be the first offshore wind lease sale in over three years. Once built, the project will provide thousands of new jobs and enough clean, renewable energy to power millions of homes for decades. So, of course, a clueless gaggle of New Jersey NIMBYs has a problem with it.
New York State just sealed a deal for 2.5 GW of offshore wind | Electrek
The New York State Energy Research and Development Authority (NYSERDA) announced that it has finalized contracts with BP and Equinor for the Empire Wind 2 and Beacon Wind 1 offshore wind farms.
U.K.’s Wind Capacity Set for Big Boost [25GW] After Record Auction | Bloomberg via Yahoo
Scotland awarded rights for a massive offshore wind development more than twice the size of the U.K.s current capacity, in a move that surprised the market for its scale and was welcomed by environmentalists. The list of winning projects in the tender adds up to nearly 25 gigawatts, far bigger than the 10 gigawatts that Scottish authorities had anticipated ultimately being built.
Idaho Power to accelerate coal retirements, add 3.8 GW clean energy | Utility Dive
Idaho Power plans to eliminate coal-fired energy from its portfolio by 2028 under its 2021 IRP. But the plan is not compatible with the utility’s goal to reach 100% clean energy by 2045, NGOs say.
Windows giant Andersen leads $30M funding of solar window company | Electrek
US window manufacturing giant Andersen Corporation is leading a series B $30 million funding round of solar window company Ubiquitous Energy. Ubiquitous Energy claims that its technology, UE Power, is the only patented and transparent photovoltaic glass coating that uses solar power to generate energy while remaining visibly indistinguishable from traditional windows.
MidAmerican Energy proposes $3.9-billion renewable energy project in Iowa, including wind and solar | OurQuadCities
MidAmerican Energy has plans for a $3.9 billion-renewable energy project in Iowa, including wind and solar generation, plus exploration of new technologies to advance the company’s transition to net-zero greenhouse gas emissions, the company announced Wednesday. In a filing with the Iowa Utilities Board, MidAmerican’s proposed project, called Wind PRIME, would add 2,042 megawatts of wind generation and 50 megawatts of solar generation.
Transportation
Electric vehicle sales overtake diesel models for first time in Europe | Business Standard
Across 18 European markets – including the UK-more than a fifth of vehicles sold were electric. The sale of electric vehicles (EV) in the European market has surpassed that of diesel cars for the first time ever, according to Financial Times preliminary estimates.
City cancels order of 50 hydrogen buses after realizing electric buses make so much more sense | Electrek
The City of Montpellier confirmed that it canceled an order for 50 hydrogen fuel cell buses after realizing that it would be cheaper and more efficient to order battery-electric buses instead.
ONE Gemini Battery Nearly Doubles Tesla Model S Range | MotorTrend
Time and again, the number one complaint we hear about EVs (besides non-existent mandates) is driving range. To some, even a Tesla Model S doesn’t have enough range, even though versions of it now top 400 miles on a charge. Even the affordable Chevrolet Bolt gets 259 miles. What mileage would be enough for these naysayers? 500 miles? 600? How about 752 miles without needing a charge?
Shipping giant Maersk moves net-zero target forward 10 years | edie
Danish shipping giant AP Moller-Maersk has moved its target to become a net-zero business forward 10 years, pledging to align with the advice of the Science Based Targets initiative (SBTi) and reach net-zero by 2040.
For BP, Car Chargers to Overtake Pumps in Profitability Race | Reuters
BP says its fast electric vehicle chargers are on the cusp of becoming more profitable than filling up a petrol car. The milestone will mark a significant moment for BP which wants to shift away from oil and expand operations in power markets and around electric vehicles (EV).
[UK] Shell replaces petrol pumps to open first UK EV charging hub | Current±
Shell has replaced existing petrol and diesel pumps at its Fulham fuel station with ultra-fast chargers to open its first electric vehicle (EV) charging hub in the UK.
Proterra to provide battery systems to at least 600 Vicinity Motor Corp. commercial EVs by 2024, including transit buses | Electrek
Transit EV manufacturer Proterra has announced a large, multi-year agreement with commercial EV manufacturer Vicinity Motor to provide battery systems to hundreds of future commercial vehicles. As part of the supply agreement, a minimum of 600 Vicinity Motor EVs will be powered by Proterra battery systems through 2024, including transit buses and Class 3 to 5 commercial trucks.
Circular Economy
Eastman to Invest $1 Billion in Plastics Recycling Facility in France | BNN Bloomberg
Eastman Chemical Co. plans to invest up to $1 billion to build the world’s biggest molecular-plastics recycling facility in France, helping to cut consumption of fossil fuels.
Big brands call for global pact to cut plastic production | Reuters
More than 70 corporate signatories including international brands Coca Cola and PepsiCo called on Monday for a global pact to combat plastic pollution that includes cuts in plastic production, a key growth area for the oil industry.