Canadian pension manager the Alberta Investment Management Corporation (AIMCo) on Thursday launched a C$1bn ($745m) fund dedicated to investing in the global energy transition and decarbonisation sectors.
The initial C$1bn cash injection into the new Energy Transition Opportunities Pool represents fresh capital, AIMCo said in a press statement. It added that many of its clients have allocated funds to the pool, which will look to invest in industrial decarbonisation, carbon capture and sequestration, renewable fuels, low-carbon and renewable energy production, and related technologies such as electrification, battery storage and energy efficiency.
AIMCo executive managing director Ben Hawkins said: “We are gratified by our clients’ commitment both to the new pool and to our shared objective of supporting and benefitting from energy transition and decarbonisation opportunities.”
The company, which currently manages C$158bn in assets, joins other Canadian pension funds that have already established dedicated green funds.
The Ontario Teachers’ Pension Plan, one of the world’s biggest retirement schemes, announced plans in 2022 to invest around C$5bn in what it calls “high carbon transition assets”, although it did not specify a time frame for this investment. Canada Pension Plan Investments, Canada’s biggest pension fund, does not have a specific green fund but has allocated C$79bn to green transition assets and hopes to grow this to C$130bn.
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Exeter City Council is generating large amounts of electricity at sites across the city as it strives to become Net Zero by 2030.
As the amount of power generated continues to grow, the Council has pledged to release its data on how much renewable energy has been produced quarterly throughout the year.
A number of measures have been taken to maximise Exeter’s renewable energy potential, in line with the Carbon Reduction Plan: exeter.gov.uk/climate-emergency/carbon-footprint/carbon-reduction-plan/
The solar generation data for last quarter, October to December 2023, is:
Total Solar Array – 3.4 MWp
Total Energy Generated - 399,247 kWh
Carbon Savings – 84.64 tCO2e
Equivalent C02 Savings of 12,091 Trees*
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CHICAGO — Kellanova said it plans to achieve 90% renewable energy across its North America-based manufacturing units by the end of 2024.
The company plans to achieve this via a wind energy virtual power purchase agreement (VPPA) 2021 for approximately 360 gigawatt hours of wind electricity annually in North America. Kellanova seeks to have 100% renewable energy across all its manufacturing units by the end of 2030.
“Today’s announcement is a big step toward achieving our ‘Better Days Promise goal’ of 100% renewable electricity across our global manufacturing facilities by the end of 2030,” said Janelle Meyers, chief sustainability officer, Kellanova. “As a global food company, we have a significant role to play in helping to reduce reliance on limited energy sources across our value chain and creating a positive impact for people and the planet.”
Kellanova’s wind farm in North Central Texas will add clean energy resources to the community’s local grid, equivalent to 90% of the electricity used across its North American manufacturing facilities.
The shift toward renewable energy reduces the company’s reliance on non-renewable energy sources and helps to mitigate the risks associated with volatile energy price, the company said.
Kellanova’s European manufacturing facilities have achieved 100% renewable electricity by purchasing RECs. The company has been purchasing RECs since 2016. Additionally, Kellanova is in the early stages of a research program partnership with the UK government to establish the potential use of green hydrogen as an alternative to natural gas for Kellanova manufacturing facilities in the country.
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The U.S. Department of Agriculture (USDA) has unveiled a significant investment of nearly $1 million in grants earmarked for the enhancement of renewable energy infrastructure within Michigan's rural agricultural sector and small enterprises. A substantial portion of this funding, amounting to over $800,000, has been allocated to a distinguished dairy farm located in Gratiot County.
Under the Rural Energy for America Program, the USDA is channeling $956,473 to four deserving recipients across Michigan, supplementing the $1.7 million already announced for the western part of the state last week.
Among the recipients is Milk Star LLC, a reputable dairy farm with a nine-year operational history in Gratiot County, as affirmed by the USDA. Milk Star LLC is set to leverage an impressive $823,219 grant to acquire and install a cutting-edge 1,036.80 kW solar photovoltaic system. The implementation of this innovative project is anticipated to yield annual savings of $133,492, replacing 1,376,202 kWh (equivalent to 41 percent) per year. This substantial energy production is ample to power 126 homes, marking a significant stride towards sustainability and resource conservation.
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They promise more energy and a vastly improved range for EV drivers. But can they deliver on the hype?
Working in the dry room at Deakin University’s Battery Research and Innovation Hub is no day at the beach.
“[It’s] more desert than beach,” says its general manager, Dr Timothy Khoo. “At the beach, you at least still get the moisture coming in.”
The 150m2 dry room is, as far as Khoo knows, the largest in Australia for research purposes and essential to work prototyping and testing the next generation of batteries.
“It’s very difficult working in there for extended periods,” Khoo says. “It’s not dangerous but your eyes starting getting dry, your skin starts getting dry and it feels like you’ve been outside in the sun all summer.”
The room must be dry because water, moisture and humidity is lethal to a battery during production. Contamination, Khoo says, means it might not work or its performance will be compromised.
Depending on the materials, the worst-case scenario can also be dangerous.
“Lithium reacts poorly with water,” Khoo says. “I don’t know if you ever did high school science but it’s in the same sort of chemical category as sodium, potassium – if you’ve ever thrown sodium into water, it explodes. It’s a similar reaction in the context of lithium metal.”
The centre is doing a brisk business, as companies race to develop the next generation of battery technology.
Most will be familiar with the lithium-ion battery, first commercialised by Sony in the 1990s to power its portable music players. From these humble beginnings, the rechargeable lithium-ion battery is now king, powering mobile phones, laptops and – in their most high-performance application – electric cars.
One McKinsey analysis suggests the global lithium-ion battery market will grow into a $400bn industry by 2030. But with lithium-ion technology well-understood, those seeking transformative change are increasingly looking to solid-state batteries.
Hype and hope
Dr Rory McNulty, a senior analyst with Benchmark Minerals Intelligence, says the hype around solid-state batteries has been building since the first commercial solid-state battery was introduced by French company Blue Solutions in 2015.
Their battery was designed for use in e-buses but had design limitations and a charging time of four or more hours – an illustration of how difficult the development process can be, even for a company such as Toyota.
Last July, the global car giant announced a breakthrough in the development of solid-state batteries that it claimed would halve the size, weight and cost of their manufacture.
This was greeted with both excitement and scepticism, owing in part to Toyota having poured money into the development of solid-state batteries since 2006 and reluctance to commit to producing fully electric vehicles over the past decade.
This development was soon followed by another in October: Toyota and Japanese petroleum company Idemitsu said they were aiming to develop and manufacture a solid-state electrolyte and bring it to market by 2028.
Toyota isn’t the only company working in the area. In January, Volkswagen announced successful testing on a solid-state battery developed by QuantumScape achieved more than 1,000 charging cycles and maintained 95% of its capacity.
Meanwhile, Chinese companies such as WeLion and Nio EV have partnered to rush out a solid-state battery – albeit one with less ambitious chemistry – by 2024 but McNulty says those in western countries will have to wait until the end of the decade.
“Toyota has pushed back its solid-state delivery timeline a few times over the years, which I think is a testament to how difficult some of the technical challenges that underpin development of a novel technology can be,” he says.
Much more in the link
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Toyota Motor says it will invest 1.3 billion dollars in its flagship US plant in Kentucky to start producing electric vehicles in 2025.
Toyota's North American unit plans to start producing a new three-row electric SUV at the Kentucky facility and add a battery pack assembly line. The batteries will be supplied by another plant in North Carolina.
The auto giant had already announced last year that it would start producing EVs at its Kentucky facility. It said Tuesday the new funding raises the total investment in the plant to nearly 10 billion dollars.
Toyota's Japanese rivals are also expanding EV production in the United States. Nissan is producing EVs in Tennessee.
Honda will start selling EVs jointly developed with General Motors in the US market this year. It also plans to start producing its in-house developed EVs at its Ohio plant in 2025.
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If you’ve been eagerly waiting for Volvo's first electric minivan, then we have some good news for you. The first units of the EM90 have already rolled off the production line, with deliveries scheduled to begin next month. Although the 7-seat Volvo goes on sale initially in China only, there’s a sliver of hope that it will reach other markets as well.
Volvo EM90 came as a bit of a surprise when it was announced last year. It’s a completely new market for the Swedish company, but its Chinese owners (Geely) felt an electric minivan with a Volvo badge would sell well in the Middle Kingdom.
It wasn’t a very demanding project either, since EM90 and Zeekr 009 are essentially twins. Both share the same SAE EV platfrom which underpins so many other vehicles owned by the Geely Group. Both Smart #1 and Smart #3 are built on it, the latest Zeekr 007 and the oldest in the lineup Zeekr 001 are built on it, and Lotus Eletre and Emeya both share it as well. Heck - Polestar 4 is the latest addition to be built on this highly flexible platform.
The Chinese MPV market is quite busy and electric minivans are a new category - all fighting for the upmarket customer. Volvo EM90 comes at the high end of that market with a price starting at €107,200 - not cheap by any means, but it comes well equipped. Standard layout offers 6 individual seats in 3 rows, Bowers & Wilkins 21-speaker audio system comes as standard. There’s a 15.6” screen for the middle and rear rows that descends from the headliner and provides a cinematic experience.
The 5,206 mm long EM90 is marketed as a luxury MPV and as such the company opted for a rather underwhelming powertrain. The 200 kW (268 hp) electric motor powers only rear wheels, and it offers a “royal” performance - 0 to 100 km/h takes a leisurely 8.3 seconds. On the other hand, the 116 kWh battery pack promises uninterrupted travel up to 738 km, which for a vehicle of this size is commendable.
Despite being pretty much identical to the Zeekr 009, Volvo is aimed at completely different customers. Even the AWD 536 hp version of the Zeekr 009 equipped with 140 kWh Qilin battery is €37,000 cheaper than the Volvo. Clearly, Geely believes that the Volvo badge offers a premium experience and is more than happy to charge for it.
Volvo EM90 is heading out to showrooms soon, with the first Chinese customers scheduled to take delivery in March. There is no word yet whether Volvo will make it to other markets, while Zeekr made some of its vehicles available in Europe, it is keeping the 009 for the Chinese market only. It suggests, hopefully, that Geely is making a strategic decision and is in fact planning to bring Volvo at least to Europe. Although, an electric MPV with a decent range would feel most at home in the good old US of A.
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The outlook for hydrogen-powered vehicles is improving after decades of unfulfilled hype, thanks to unprecedented federal support and increased private investment.
Why it matters: Hydrogen fuel cells produce electricity by mixing hydrogen and air, with water vapor as the only byproduct. That makes them a promising climate solution — especially as a replacement for noisy, soot-spewing diesel trucks and industrial equipment.
- They offer a longer driving range than electric vehicle batteries, and refueling is much faster than recharging, so they could be appealing in passenger cars too.
Catch up quick: Despite its reputation as an abundant and pollution-free energy source, hydrogen has failed to take off as a fuel for many practical reasons.
- For starters, it's currently derived mostly from natural gas, which undermines its environmental benefits.
- Cleaner hydrogen, made from renewables, is expensive to produce. Plus, there's no nationwide distribution network.
What's happening: Two recent U.S. policy moves to boost hydrogen are resurrecting optimism for fuel cell vehicles.
- In October 2023, the Biden administration awarded $7 billion from the 2021 infrastructure law to establish seven regional hubs for hydrogen production.
- In December 2023, the U.S. Treasury Department proposed rules for companies to claim lucrative tax credits for clean hydrogen production under 2022's Inflation Reduction Act. The IRA also includes tax incentives for fuel cell vehicles, hydrogen infrastructure and energy storage.
- The Biden administration expects all that government spending to spur tens of billions more in private hydrogen investment.
The latest: General Motors and Honda have started producing fuel cells at a factory near Detroit, to power a new plug-in hybrid fuel cell version of Honda's CR-V crossover utility coming this spring.
- They'll also go into a line of hydrogen-powered cement mixers, dump trucks, garbage trucks and more that GM is developing with Autocar Industries, a heavy truck manufacturer.
- And GM has a new joint venture with Komatsu to develop fuel cell-powered mining trucks.
Other truck manufacturers are also bringing fuel cell trucks to market, including Toyota, Hyundai and the startup Nikola.
- Cummins has its own twist: It's developing hydrogen combustion engines, which burn hydrogen instead of diesel fuel — unlike fuel cells, which generate electricity to power a motor.
- And rivals Daimler Truck and Volvo Group teamed up on a new fuel cell venture called Cellcentric that aims to crank up large-scale production by 2025.
Be smart: Hydrogen can make sense for long-haul trucking and round-the-clock freight logistics operations, where time is money.
- But fuel cell passenger cars remain a tiny niche. Fewer than 18,000 have been sold in the U.S. since 2012, and the country has just 55 publicly available hydrogen fueling stations — all in California, where zero-emissions rules are strictest.
- Still, it's worth noting that none of the early players, including Toyota, Hyundai and BMW, have given up.
What to watch: There's still a lot of fighting over the hydrogen production tax incentive rollout, as Jael Holzman explains in Axios Pro: Energy Policy.
- Without enough guardrails, environmentalists worry the credit could wind up increasing U.S. carbon emissions.
The bottom line: Fuel cell vehicles have a long way to go — but they may finally have the energy to get there.
- "Up until two years ago, I knew we were in an uphill battle and I didn't see a wave that would change anything," says Bill Elrick, executive director of the Hydrogen Fuel Cell Partnership, a joint effort between industry and government to expand the fuel cell vehicle market.
- "I think something has shifted."
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Thread: Fossil Fuel Alternatives
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11-02-2024, 02:39 PM #726Guest Member
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Last edited by S Landreth; 11-02-2024 at 02:45 PM.
Keep your friends close and your enemies closer.
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14-02-2024, 05:47 PM #727Guest Member
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The French government has suspended an electric car leasing scheme after only six weeks following a surge in demand that more than doubled the number of vehicles required.
Officials said the scheme, launched in December to help low-income households and cut carbon emissions, would be relaunched next year.
Originally, 25,000 European-built electric cars were to be offered to lease from €100 (£85) a month, but this was doubled after massive demand. The government said it had received more than 90,000 applications by the end of January.
“It’s a real success story and symbolic of French environmental policy. It is good for the wallet and good for the planet,” an adviser to President Emmanuel Macron said.
Motorists who balked at the cost of buying an electric car – which are typically more expensive than a petrol or diesel vehicle – were offered a means-tested leasing scheme at a cost of €100-€150 a month for a vehicle worth €47,000 or under.
Applicants had to be over 18, live in France, live at least 15km (9 miles) from their place of work and drive more than 8,000km a year as part of their professional activity and have a household taxable income of less than €15,400 a person. The three-year leasing contract can be renewed once with the option to buy the vehicle, which must have been manufactured in France or elsewhere in Europe. The government is subsidising each vehicle up to a maximum of €13,000.
Less than six weeks after it was launched, the scheme that was part of Macron’s 2022 re-election manifesto had been a victim of its own success and overtaken its initial objective, the Élysée Palace said.
The industry and energy minister, Roland Lescure, suggested the popular offer had been constrained by the number of electric vehicles being made in France and urged the country’s carmakers to speed up production.
“Today, there is a great demand and we don’t yet have enough products made in France. That means French constructors need to step up the pace or commit to doing so,” Lescure told France 3.
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The U.S. Department of Energy (DOE) today announced it is investing $4.75 million to establish a new national center of excellence to accelerate reliable and equitable offshore wind energy deployment across the nation. The Academic Center for Reliability and Resilience of Offshore Wind (ARROW), led by the University of Massachusetts Amherst with approximately 40 partners, will focus on workforce development, targeted research, and partnerships and strategies to embed equity in offshore wind development. This academic and training hub, which includes partners across the United States, will help drive progress toward the Biden-Harris Administration’s goals of deploying 30 gigawatts of offshore wind by 2030, 100% clean electricity grid by 2035, and net zero emissions economy-wide by 2050.
“Offshore wind can play a major role in decarbonizing the U.S. electric grid, and meeting its potential will require skilled workers to propel us forward,” said Jeff Marootian, Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy. “This consortium will provide timely and relevant training and education to help foster the domestic offshore wind workforce of tomorrow and secure a clean energy future for all Americans.”
As offshore wind energy development grows there will be an increasing demand for workers across a broad range of disciplines. The selected ARROW consortium, funded by DOE’s Wind Energy Technologies Office, will provide inter-disciplinary educational opportunities to help advance the next generation of offshore wind workers.
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Vena Energy and Amazon bring 125MW Queensland solar project online
Renewable energy independent power producer (IPP) Vena Energy began operations at a 125MW PV site in the Australian state of Queensland last week, through a partnership with US technology giant Amazon.
The 125MW Amazon Solar Project Australia – Wandoan forms part of the larger Wandoan South Project, a renewable energy project with a total 650MW/450MW solar PV and battery energy storage capacity, owned by Vena Energy.
The project has deployed over 250,000 solar modules and will support Amazon’s operations in Australia.
“Amazon is on a path to power our operations with 100% renewable energy by 2025,” said Ken Haig, head of energy and environment policy, Asia Pacific & Japan, Amazon Web Services.
“As the world’s largest corporate purchaser of renewable energy, our investment in our renewable energy projects, including the Wandoan project, helps deliver clean energy to local grids, creates new jobs, and supports local businesses.”
Amazon has become a very large player in the renewable energy market; it added over 1GW of solar and wind power operations to its portfolio in Europe alone last year. This is its first renewables project in Queensland, with existing sites already in New South Wales and Victoria.
Vena said that the entire Wandoan South project includes this Amazon Solar Project Australia – Wandoan, the proposed Wandoan South Solar 2, and ancillary support from Queensland’s largest utility-scale battery, the Wandoan South Battery Energy Storage System (BESS). Wandoan South Solar 2 is expected to reach operations by Q3 2026.
The developer reached financial close for the commissioned portion of the project in October 2022. The Wandoan South BESS reached operations in August 2022, as reported by our sister site Energy-storage.news.
Last month Queensland saw another big renewables deal take place: Enel Green Power Australia – a subsidiary of Italian energy company Enel – signed a binding agreement to purchase a 1GW solar and wind project in the state. Last June the state government announced a raft of new renewable energy targets, including 22GW of new solar and wind capacity by 2035.
The last year and half has witnessed a downturn in private investments for solar projects in Australia (premium access), but a recent contracts for difference (CfD) scheme announced by the government to underwrite 32GW of renewables generation and storage capacity could see the tide begin to turn.
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SSE Renewables, a division of UK-based utility SSE Plc, has embarked on an ambitious project – the construction of the 64MW Jubera onshore wind farm. With an estimated completion time of up to two years, this wind farm is set to generate a significant amount of renewable energy, enough to power around 55,000 homes annually.
The Jubera project, comprising 11 Nordex wind turbines, is a crucial part of SSE Renewables’ Southern Europe onshore wind portfolio. Acquired from Siemens Gamesa in 2022, this portfolio represents a significant investment in the future of renewable energy. Civil works have already begun, with commissioning expected by the end of 2025.
SSE Renewables is not stopping at Jubera. They are also advancing a portfolio of 320 MW of late-stage development projects in Spain. This is part of a 2.4-GW secured pipeline of onshore wind and solar projects across Southern Europe, further demonstrating their dedication to driving the transition to a green future.
As we stand on the cusp of a transformative era, where technology and humanity blur the lines, projects like Jubera serve as beacons of hope. They remind us that in the face of environmental challenges, innovation and determination can pave the way for a sustainable future.
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Wind and solar generation reached 10.01 gigawatts on Sunday, a new record for renewable energy production in Taiwan. Taipower also stated that the wind and solar energy penetration rate also reached 52.37%, not only exceeding 40% for the first time, but exceeding 50% in one fell swoop.
Energy penetration rates refer to the percentage of electricity generated and consumed by a source out of the total active power generated and consumed by all sources. Taipower reported that the penetration rate of wind and solar power exceeded 30% for the first time during the Lunar New Year holidays in 2023. This year, with wind and solar at more than 52%, renewable energy now makes up over half of all power used.
Taipower elaborates that energy from solar photovoltaics exceeded 8 million kilowatts for the first time, which also set a historical record. Overall wind power generation also reached nearly 2 million kilowatts, highlighting its importance as part of the power supply and potential for replacing traditional energy units.
The high penetration rates come at a good time as Taipower shut down Datan Power Plant last Thursday to complete a gas line project with CPC Corporation. Power units were reconnected to the grid on Sunday.
Taipower stated that during the Lunar New Year holidays, a team of more than 700 people was specifically engaged in nationwide unit overhauls. More than 4,000 Taipower employees were also working every day on grid operation to ensure a stable power supply to the public.
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- MSU joins Consumers Energy Renewable Energy Program
Michigan State University is taking another step toward advancing its goals of reducing greenhouse gas emissions by 50% by 2030 from 2010 baseline measurements. Through an agreement with Consumers Energy, the university will have support in eliminating 292,934 metric tons of carbon dioxide and achieving climate neutrality by 2050.
“This is another major milestone in pursuit of MSU’s commitment to achieve climate neutrality by 2050,” said Laura Young, MSU’s sustainability manager. “Every approach must be considered to reduce our carbon footprint — from the technology we use to leveraging our cutting-edge research and robust partnerships for greater impact. Opportunities like those presented by the Consumers Energy Renewable Energy Program only build on that momentum.”
As part of the Consumers Energy Renewable Energy Program, 15,000 MWh, or mega-watt hours, per year of the electricity MSU purchases will be generated from renewable energy sources like solar and wind power beginning in 2027. That represents about 30% of the current annual electricity purchases made from the T.B. Simon Power Plant. Greenhouse emissions are classified by scopes. Scope 1 greenhouse emissions are direct emissions from campus, such as from the central power plant and fleet vehicles. Scope 2 are indirect emissions that come from the generation of purchased electricity.
“Reducing the greenhouse gas footprint of electricity that MSU purchases reduces scope 2 emissions and is an important part of meeting the university’s sustainability goals,” said Sherri Jett, director of power and water with MSU’s Infrastructure Planning and Facilities. “This commitment to purchase renewable energy from Consumers Energy will effectively double the amount of renewable energy consumed on campus.”
This agreement helps MSU and Consumers Energy meet their goals and provides an example for other businesses.
“Consumers Energy is committed to Michigan’s clean energy future, and our Renewable Energy Program allows our neighbors to join us in protecting the planet,” said Lauren Snyder, Consumers Energy’s vice president of customer experience. “We’re excited to help Michigan State University to be a leader and accelerate new clean energy projects in our state.
https://msutoday.msu.edu/news/2024/m...energy-program
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The Saudi Power Procurement Company (SPPC) has disclosed the list of qualified bidders for the fifth round of renewable energy projects, marking a significant stride under the National Renewable Energy Program (NREP).
In collaboration with the Ministry of Energy, SPPC invited applications through the Request for Qualification (RFQ) for NREP’s Round 5 on November 12, 2023. Subsequently, by December 5, 2023, 31 applicants submitted Statements of Qualification (SOQ), with 23 companies securing qualification for lead roles in the ambitious projects.
The cumulative capacity of Round 5 reaches an impressive 3700 MW, comprising four distinct projects strategically located across the Kingdom:
- [2000] MWac Al Sadawi Solar PV IPP in the Eastern province, KSA.
- [1000] MWac Al Masa’a Solar PV IPP in the Hail province, KSA.
- [400] MWac Al Henakiyah 2 Solar PV IPP in the Madinah province, KSA.
- [300] MWac Rabigh 2 Solar PV IPP in the Makkah Province, KSA.
Under the Ministry of Energy’s guidance, NREP aspires to maximize renewable energy’s contribution to the Kingdom’s energy mix, targeting a 50% share in electricity production from renewables by 2030.
List of Qualified Bidders for Round 5 Projects:
- Abu Dhabi Future Energy Company PJSC – Masdar
- Al Jomaih Energy & Water Co., Ltd.
- Alfanar Company
- B. Grimm Power Public Company Limited
- BGL Renewable Energy Systems Installation LLC
- EDF Renouvelables S.A.
- FAS Energy KSA LLC
- GEK TERNA S. A
- Gulf Energy Development Public Company Limited
- JERA Co., Inc.
And more
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This year's Super Bowl will be the first one fully powered by renewable energy, thanks to the host stadium's agreement with a solar farm, reports say.
More than 621,000 solar panels found in a barren area of the Nevada desert help power the Allegiant Stadium, home to the Las Vegas Raiders and host of Super Bowl LVIII, reports several media outlets.
According to the stadium's website, it's 100% "powered by by Nevada-sourced renewable energy."
According to CBS News, the Les Vegas stadium entered into a 25-year agreement with NV Energy to buy power from its new solar installation.
Doug Cannon, CEO of NV Energy, told CBS the solar panel installation produces enough to power 60,000 homes.
For an event like the Super Bowl, the solar panels must produce 10 megawatts, which is enough to power 46,000 homes.
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H.E. Mr. MIZUKOSHI Hideaki, Ambassador of Japan to Sri Lanka and Mr. K. M. M. Siriwardana, Secretary, Ministry of Finance, Economic Stabilization and National Policies, signed an Exchange of Note for providing JPY 1.23 billion in order to improve power supply vulnerability at hospitals. This signing ceremony was held with Dr. TANAKA Akihiko, President of JICA and Dr. P. G. Mahipala, the Secretary of Ministry of Health.
This grant aims to reduce carbon footprint and ease the financial burden on energy costs at Sri Jayewardenepura General Hospital, Teaching Hospital Ratnapura, and Teaching Hospital Kurunegala. With this assistance, the recipient hospitals will be equipped with solar power facilities, ensuring reliable electricity supply and contributing to achieving Sri Lanka’s goal of over 70% of electricity from renewable sources by 2030.
This project, similar to the fuel assistance, contributes to enhancing Sri Lanka's healthcare infrastructure. The introduction of solar power facilities aims to improve the resilience of these healthcare institutions and contribute to the well-being of the Sri Lankan people. The collaboration signifies a strong commitment to improving healthcare services and promoting sustainable energy solutions, underlining the bilateral relations between Japan and Sri Lanka.
The Japanese government looks forward to a successful implementation of the solar power facilities, supporting Sri Lanka in achieving renewable energy goals and fostering a greener future.
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- Adani Green commences power generation at the world’s largest renewable energy park
Adani Green Energy Limited (AGEL) has successfully operationalized 551 MW solar capacity in Khavda, Gujarat, by integrating power into the national grid.
AGEL achieved this milestone within a remarkably short span of 12 months from the commencement of work on the Khavda RE park. The endeavor commenced with the development of essential infrastructure, such as roads and connectivity, and the establishment of a self-sustaining social ecosystem.
The company has plans to further develop 30 GW of renewable energy capacity at this RE park, with an anticipated operationalization timeline of the next five years. Upon completion, the Khavda RE park will emerge as the largest renewable energy installation globally.
The energy generated from the Khavda RE park is projected to power approximately 16.1 million homes annually. Leveraging its proven expertise in developing large-scale renewable projects, robust supply chain network, and technological prowess, AGEL is well-positioned to establish this record-setting giga-scale plant, unparalleled in the world’s clean energy sector.
Gautam Adani, chairman of the Adani Group, expressed, “Adani Green Energy is creating one of the world’s most extensive renewable energy ecosystems for solar and wind. Through bold and innovative projects like the Khavda RE plant, AGEL continues to set higher global benchmarks and rewrite the world’s planning and execution standards for giga-scale renewable energy projects. This milestone is a validation of the Adani Group’s commitment and leading role in accelerating India’s equitable clean energy transition journey towards its ambitious goals of 500 GW of renewable energy capacity by 2030 and carbon neutrality.”
constructionweekonline.in
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Verizon Communications announced today that it has fully allocated the $1 billion in proceeds from its most recent green bond, issued in May 2023, will the full amount directed towards investments in renewable energy, supporting the company’s clean energy targets.
According to Verizon’s Green Bond Impact Report, proceeds from the bond, Verizon’s fifth green bond since 2019, were allocated entirely to renewable energy purchase agreements (REPAs), supporting renewable energy projects under development in five states, including Illinois, Maine, North Dakota, Ohio and West Virginia, and covering nearly 0.9 GW of capacity, of which 53% is solar and 47% is wind energy.
Verizon added that it is on track to exceed its target to source the equivalent of 50% of its total annual electricity consumption with renewable energy by 2025, and that it will continue to identify new renewable energy projects under development to support its goal to reach 100% renewable energy by 2030.
Verizon has entered into 27 REPAs for a total of approximately 3.6 gigawatts (GW) of anticipated renewable energy generating capacity. According to the green bond report, the renewable energy projects are expected to enable the avoidance of more than 4.7 million metric tons of greenhouse gas emissions annually, and help developers build new wind and solar facilities in 15 states.
Tony Skiadas, Chief Financial Officer of Verizon, said:
“The $5 billion of green bonds that we have issued to date are instrumental to our efforts to achieve our goal of net zero emissions in our operations by 2035. As one of the leading corporate buyers of renewable energy and one of the largest green bond issuers in the U.S., we are proud to help accelerate the greening of the U.S. electrical grid as we work to meet our goals around climate protection.”
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Clean, green power across the Territory is a priority of the Territory Labor Government.
The Wurrumiyanga Solar Infill and Energy Storage Pilot Project is another step closer to completion with the battery energy storage system currently undergoing testing in Berrimah.
Wurrumiyanga is already operating on some solar. This project will provide an additional 1.1 megawatt solar array, together with a 1.75 MVA battery energy storage system.
The battery system will provide 3 megawatt hours of storage capacity.
Once testing of the battery system is complete at Berrimah, it will be transported to Wurrumiyanga where another round of testing will take place to ensure successful integration with the grid.
The project is estimated to reduce diesel fuel consumption by 519,000 litres in the first year of operation by introducing additional renewable energy technology, with works expected to be completed by May 2024.
The $6.1 million Wurrumiyanga Solar Infill and Energy Storage Pilot Project is part of the Territory Labor Government's commitment of $10.4 million to date for the Renewable Remote Power Program.
This project will contribute to the Territory Labor Government reaching our target of 50% renewable energy by 2030, which includes an average of 70% renewables in all communities supplied by the Indigenous Essential Services program.
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An energy grid run off renewable energy may sound far off in the future, but a new study from CU Boulder finds we could hit the goal in our lifetime.
An energy grid run off renewable energy may sound far off in the future. But a new study from CU Boulder finds we could hit the goal in our lifetime.
"That's a really exciting time, not just for the planet but for American businesses, American consumers and for bipartisanship on this issue," said Matt Burgess, a coauthor of the paper, assistant professor of Environmental Studies, and Director of the Center for Social and Environmental Futures at CU Boulder.
The U.S. is on track to have fully renewable energy in less than four decades, according to the study.
"We are on track to decarbonize the electric sector by 2060," said Grace Kroeger, lead author on the paper. Kroeger led the assessment for her honors thesis while at CU Boulder.
Often, Kroeger said, the utility companies are ahead of policy on this.
“They kind of had an impetus, it seemed like, to put sustainability as a big goal within their annual reports and have a goal, whether or not the state actually had a mandate for something like that," Kroeger said.
"There's all this evidence that's come out in the last few years that the energy transition is happening faster than a lot of people predicted. And a lot of what's driving that is the private sector," Burgess said.
While shifting away from fossil fuels like coal and moving toward renewables is often a political minefield all around the country, Burgess and Kroeger said often, utilities are moving forward on green initiatives themselves. Xcel Energy, for example, says it plans to provide customers with 100% carbon-free electricity by 2050 and reduce carbon emissions by 80% by 2030.
"The bigger ones actually, whether or not they were actually saying it, had a big commitment to some of these renewable practices," Kroeger said.
Burgess said transitioning toward fully renewable energy sources can impact reliability.
"Reliability is harder with renewables – intermittency of wind and solar being an example. There are some areas where it's easier, like with solar microgrids," Burgess said. "If everybody has a solar panel on their house, powering their house, and the power lines fall down, you might be fine."
Will fully renewable energy cost the consumer more? That depends on reliability, Kroeger and Burgess said. Finding greener ways to store energy, like wind and solar, even when it's not windy or sunny, could help. Right now, Kroeger said, many of the storage options rely on fossil fuels for power.
Research and development into these renewable energy options could help to lower costs, too, Burgess said.
"The technology has been improving and becoming cheaper faster than people predict," Burgess said.
This transition toward a greener energy grid will be a slow one, Kroeger said. Still, as long as utilities stay on track, a renewable energy future is on the horizon.
"The more that we see a win-win between the energy transition and the economy, the more it's going to have unstoppable momentum and also make our lives better both now and in the future," Burgess said.
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The Japanese government is accelerating its push for offshore wind power. It sees floating turbines as more suitable for the country, and is preparing for tests.
There are four candidate areas: two in the northernmost prefecture of Hokkaido and one each in Akita and Aichi prefectures, in north and central Japan. About two of the four areas may be chosen.
The government has set offshore wind power as one of the pillars of its renewable energy policy. But the country has few shallow sea areas suitable for the anchored types, leaving floating versions as a more feasible option.
The government began accepting applications for companies to run the project this month, and successful candidates will be chosen around May. It will shoulder part of the operating costs until fiscal 2030.
The tests will start after environmental impact studies and negotiations with local fishing industry representatives are concluded.
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- IREDA Announces New Retail Subsidiary Initiative and Boost to Rooftop Solar Financing
In a significant move towards boosting India’s renewable energy sector, the Indian Renewable Energy Development Agency Ltd. (IREDA) has unveiled plans to establish a subsidiary aimed at the retail market. This announcement was made by Shri Pradip Kumar Das, the Chairman and Managing Director of IREDA, during a panel discussion at the “2nd CII India Europe Business & Sustainability Conclave” in New Delhi on February 20, 2024. The proposed subsidiary will focus on facilitating projects in areas such as Rooftop Solar, PM-KUSUM, Electric Vehicles, and other Business-to-Consumer (B2C) segments, contingent upon the approval from the Government of India.
The conclave, a collaborative effort by the Confederation of Indian Industry (CII) and the Ministry of External Affairs, served as a platform for Shri Das to emphasize IREDA’s proactive approach in improving the bankability of renewable energy projects. His remarks were particularly centered on the “PM Surya Ghar Muft Bijli Yojana,” a scheme announced by the Prime Minister on February 13, 2024, aimed at promoting rooftop solar installations.
Shri Das highlighted the agency’s commitment to enhancing the attractiveness of renewable energy investments by addressing the financial concerns associated with such projects, thereby ensuring their bankability. Over the past three years, IREDA has made notable strides in reducing its Non-Performing Assets (NPAs) by addressing borrower issues and enhancing transparency.
Furthermore, the CMD underlined the critical role of Micro, Small, and Medium Enterprises (MSMEs) in driving environmental sustainability. He stressed the importance of MSMEs improving their ratings and governance to access competitive financing for renewable energy projects, reaffirming IREDA’s support for the sector’s growth and sustainability.
https://solarquarter.com/2024/02/21/...lar-financing/
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- Exclusive: Electric plane, train and boat batteries get millions in DOE funds
A dozen teams nationwide are getting millions in Department of Energy funding to develop batteries for electric regional aircraft, trains and ships.
Why it matters: If any such moonshot is successful and scaleable, it could help curb the massive amounts of carbon emitted from heavy-duty transportation.
- Transportation accounts for nearly 30% of U.S. greenhouse gas emissions. About 13% of that share is from aircraft, shipping and rail.
Details: The funds come by way of a DOE Advanced Research Projects Agency-Energy (ARPA-E) program that aims to electrify domestic flights carrying up to 100 people as far as 1,000 miles, all North American railroads, and all vessels operating in U.S. territorial waters.
- A total of $15 million is being awarded to teams aiming to build "1K" technologies — batteries with an energy density of at least 1,000 Watt-hour per kilogram (Wh/kg).
- Current electric vehicle battery cells have about one-quarter of that energy density.
What they're doing: The teams are taking a range of approaches, including new battery chemistries, optimizing electrode materials, rethinking the packaging of hydrogen that powers fuel cells and developing hybrid fuel-cell battery systems.
Between the lines: Such next-generation energy storage systems have to be safe, able to charge quickly, operate continuously, and have a long lifetime.
- Different vehicles have different requirements. Battery weight is especially important for aircraft; the ability to withstand vibrations from jolting rail cars that often bump into one another is a must for electrifying railroads; reduced cost is a key consideration for shipping and rail.
The teams selected: And Battery Aero (Palo Alto, CA), Aurora Flight Sciences (Manassas, VA), Georgia Tech Research Corporation (Atlanta, GA), Giner (Newton, MA), Illinois Institute of Technology (IIT; Chicago, IL), Johns Hopkins University (Baltimore, MD), Precision Combustion (North Haven, CT), Propel Aero (Ann Arbor, MI), University of Maryland (College Park, MD), Washington State University (Pullman, WA), Washington University in St. Louis (St. Louis, MO), and Wright Electric (Malta, MY).
What's next: The teams will spend 18 months developing their technologies in the first of what's expected to be a two-phase program.
- At the same time, smaller electric aircraft are showing promise but still face financial and regulatory hurdles.
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An RMIT-led research team has come up with an innovative way to make greener, safer, recyclable “water batteries” that could replace common lead-acid batteries.
There are three key components that make up a battery: a cathode, an anode and an electrolyte. In common lithium-ion or lead-acid batteries, the electrolyte is a liquid chemical solution that, once inserted, cannot be easily recovered.
The lead researcher, Prof Tianyi Ma, said his team’s water battery – known as an “aqueous metal-ion battery” – addresses the issue by swapping out the hazardous chemical electrolyte for water.
“It’s pure water. It’s the daily water we drink, but we do add additives to the water like inorganic salts,” Ma said.
Ma said his battery operates comparably to current lead-acid batteries but can be easily recycled without the risk of chemical pollution or the need for specialist equipment and disposal facilities.
“There are several advantages of using water as an electrolyte, the first being that we can assemble and dissemble it on the bench,” Ma said. “We can recycle it right here – we can do it in open air, we don’t need to avoid water, avoid moisture in the atmosphere as with lithium-ion batteries.”
Another advantage is that water batteries eliminate the risk of fires commonly associated with lithium-ion batteries. According to the Australian Council of Recycling, lithium-ion batteries cause at least three fires in recycling streams every day.
Water batteries are also cheaper. Because they do not require complex manufacturing processes and the materials cost less, they can be produced for a third of the price of lithium-ion batteries, Ma said.
So far the team has prototyped water batteries in coin-cell-type devices commonly found in small clocks, battery packs once used in old Nokia-style mobile phones and AA-style cylinder batteries.
These have achieved 500 or more charge cycles but maintain 80% of their capacity after 700 cycles.
Ma said if commercialised, the technology offers a “greener, safer” replacement for lead-acid batteries in household appliances or could be used in larger applications such as rooftop solar power storage or on a solar farm.
But as the technology improves over the next decade or longer, he believes they could eventually challenge lithium-ion batteries.
The RMIT-led team’s breakthrough is published in Advanced Materials, outlining a process by which zinc anode is coated with a nano material composed of bismuth metal, which is allowed to oxidise.
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The 1.5GW diversified portfolio includes seven wind and solar operating assets in South Australia, New South Wales, Queensland and Victoria, along with Collie Battery Stage 1 currently under construction in Western Australia
French renewable energy firm Neoen has closed the debt financing for a 1.5GW portfolio of eight diversified renewable energy assets, raising over A$1.1bn ($720m).
A consortium of 11 international banks provided the debt, including ANZ, Bank of China, Clean Energy Finance, CBA, China Construction Bank, HSBC, ING, Mizuho, MUFG Bank, Societe Generale and Westpac.
It is one of the largest debt financing deals for a renewable energy portfolio in Australia and covers most of the company’s diversified portfolio of solar, wind and battery storage assets.
Neoen intends to use the debt raised for the refinancing of around A$700m ($458) of single asset-level debt and use the remaining for the financing of new assets.
The transaction was well received, and the financing package provides further strength to grow its platform in the future, said the French renewable energy firm.
Neoen Australia CEO Louis de Sambucy said: “We are delighted to announce this landmark financing of a portfolio of Neoen assets, and we sincerely thank all our lenders for their trust and commitment.
“This transaction demonstrates the unique combined value of our portfolio and strengthens our business model of long-term owner and operator. It provides a solid foundation for achieving our ambition of 10GW in Australia by 2030.”
The company said that its portfolio has high levels of contracted revenue, and its asset mix comprises three different technologies across five states.
It comprises three solar farms, Numurkah Solar Farm in Victoria, Western Downs Green Power Hub in Queensland and Coleambally Solar Farm in New South Wales.
The portfolio also includes four wind farms, Bulgana Green Power Hub in Victoria and Hornsdale Wind Farms 1, 2 and 3 in South Australia.
Neoen will also develop the new asset, 219MW/877MWh Collie Battery Stage 1 project in Western Australia and its first 4-hour long-duration battery, using the debt package.
Neoen chairman and CEO Xavier Barbaro said: “I would like to congratulate the Neoen Australia team on completing this major portfolio financing, which is the largest one in Neoen’s 15-year history.
“It demonstrates Neoen’s unparallelled ability to create value, thanks to its maturing and diversified asset portfolio, and thus provide a catalyst for our future growth in Australia and around the world.”
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America’s most interesting electric-vehicle company is about to have the defining year of its life.
On Wednesday, the company reported that it lost $1.58 billion in the fourth quarter of last year, bringing its net annual losses to $5.4 billion. It announced that it is laying off about 10% of its salaried employees, but — at the same time — promised that it has a plan to achieve a small profit by the end of this year.
Rivian does not seem to be in trouble — not quite yet, at least. But the earnings made clear what electric-vehicle observers have known for a long time: Either the company will emerge from this year poised to be a winner in the EV transition, or it will find itself up against the wall.
That’s partially because Rivian has a stomach-turning number of corporate milestones coming up. Over the next 11 months, it plans to unveil an entirely new line of vehicles, shut down its factory for several weeks for cost-saving upgrades, break ground on a new $5 billion facility in Georgia, and — most importantly — turn a profit for the first time. It also expects to manufacture and deliver roughly another 60,000 vehicles to customers.
Any one of these goals would be difficult to achieve in any environment. But Rivian is going to have to execute all of them during a time defined by “economic and geopolitical uncertainties” and especially high interest rates, its CEO R.J. Scaringe told investors on Wednesday. Since 2021, Rivian’s once robust stockpile of cash has been cut in half to about $7 billion; at its current burn rate, the company will run out of money in a little more than two years.
Although Rivian’s situation is dire, it’s not experiencing anything out of the ordinary. As I’ve written before, the electric truck maker is crossing what commentators sometimes call “the EV valley of death.” This is the challenging point in a company’s life cycle where it has developed a product and scaled it up to production — thereby raising its operating expenses to eye-watering levels — but where its revenue has not yet increased too.
During this vulnerable period, a company essentially burns through its cash on hand in the hope that more customers and serious revenue will soon show up. If those customers don’t arrive, then it either needs to raise more cash … or it runs out of money and goes bankrupt.
It’s a frightening time, but once a company crosses the valley of death, it can reach an idyll. Not so long ago, Tesla found itself in something like Rivian’s position as it prepared to launch the Model 3. Seven years later, it is the most valuable automaker in the world.
Snip
The company’s hopes, in other words, rest on its next product line: the R2, which it will launch on March 7. We know almost nothing about the R2 line, except that it will probably include an SUV, that it will go on sale in 2026, and that it will fall somewhere in the $45,000 to $55,000 price range. (The median new car transaction in the United States now costs $48,200.) Last year, Scaringe told me that the R2’s timing was perfect because it would fit “beautifully with what we see as this big shift” in the American EV market. In today’s market, he said, “a lot of people ask themselves, Am I gonna get an electric car? Well maybe the next one.” He better hope they’ll start buying that next one in 2026.
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This startup is 'greening' homebuilding
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