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Linde to supply clean hydrogen to Dow’s Path2Zero project in Canada
Mexico Pacific announces long-term LNG sales agreement with POSCO
FlexGen selected by Vitol’s VC Renewables to deploy 2GWh of energy storage
Power Sustainable invests in EDF Renewables solar and storage project
Equinor scraps Spain, Portugal and Vietnam offshore wind plans as costs rise
Scala Data Centers and Serena partner on renewables for LatAm data centers
CIP and SSE Thermal commence operations of energy-from-waste project
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Linde has signed a long-term agreement to supply clean hydrogen to Dow's Path2Zero Project in Fort Saskatchewan, Canada.
The company will invest over $2 billion to construct and operate a large integrated clean hydrogen and atmospheric gases facility in Alberta.
The new facility will utilize autothermal reforming and Linde's proprietary HISORP carbon capture technology to produce clean hydrogen.
It will also recover hydrogen from off-gases emitted by Dow's ethylene cracker.
In the project's first phase, Linde will provide clean hydrogen, nitrogen, and additional services to aid Dow's net-zero emissions integrated ethylene cracker site.
The facility is expected to capture over 2 million metric tons of carbon dioxide emissions annually for sequestration.
Upon its completion in 2028, the complex will be the largest clean hydrogen production site in Canada and one of the largest worldwide.
This is Linde's largest single investment and its second global-scale clean hydrogen project, following a similar project in the U.S. Gulf Coast.
Mexico Pacific has signed a sales and purchase agreement with POSCO International, Korea's largest energy trading company.
Under the agreement, POSCO International will purchase 0.7 million tonnes per annum of LNG on a free-on-board basis for 20 years.
Mexico Pacific's Saguaro Energía LNG facility in Puerto Libertad, Sonora, will consist of three liquefaction trains and associated infrastructure.
The facility will utilize low-cost natural gas from the Permian Basin, enabling competitive LNG pricing for Asia.
Mexico is set to become the world's fourth largest LNG exporter.
The Saguaro Energía LNG facility project is backed by federal, state, and municipal permits and has significant government and capital market support.
The project represents the largest private investment in Mexico and is essential to the Sonora Plan for clean energy development and economic growth.
ONEOK has executed a definitive agreement with Global Infrastructure Partners to acquire EnLink Midstream and Medallion Midstream in transactions valued at $5.9 billion.
The acquisition includes 43% of EnLink's outstanding common units for $14.90 per unit and the managing member's interests for $300 million.
ONEOK will acquire Medallion Midstream for $2.6 billion, known as the largest privately held crude gathering and transportation system in the Permian's Midland Basin.
The transactions aim to establish a fully integrated Permian Basin platform at scale and expand ONEOK's footprint in the Mid-Continent, North Texas, and Louisiana.
Significant synergies are anticipated through complementary asset positions, particularly in the Permian Basin’s crude gathering business and integrated gas and NGL platforms.
FlexGen and VC Renewables have finalized a 2GWh Material Supply Agreement to enhance energy storage capacity.
The collaboration aims to improve grid resiliency and reliability through advanced storage solutions.
The agreement builds on an existing partnership where Vitol was a key investor in FlexGen's Series C round.
FlexGen specializes in energy storage solutions and software integration for utility-scale projects globally.
VC Renewables, as a subsidiary of Vitol, focuses on deploying renewable energy solutions.
CPS Energy has secured 350 megawatts of future battery energy storage, bringing its total to 400 megawatts under contract.
The agreements were made with Eolian L.P. and are part of CPS Energy's Vision 2027 generation plan.
The two new battery projects, named "Ferdinand" and "Padua 2," will have capacities of 200 megawatts and 150 megawatts respectively.
These projects are situated in South Bexar County, Texas, and are expected to be operational in the first half of 2026.
The additional storage is aimed at enhancing grid resiliency and providing benefits to the community.
CPS Energy's overall battery storage capacity includes 10 megawatts currently operational, alongside the new capacity.
Power Sustainable Energy Infrastructure Inc. and EDF Renewables North America announced a strategic investment in the Desert Quartzite Solar+Storage Project.
PSEI acquired a 50-percent stake in the project, which is currently under construction in Riverside County, California.
The project will generate 300 megawatts of solar power combined with a 150 MW/4-hour battery energy storage system.
Electricity generated will be delivered to Clean Power Alliance under a 20-year power purchase agreement.
Construction is expected to be completed by the end of the year, with long-term operations managed by EDF Renewables.
This investment marks PSEI’s largest to date and builds on their inaugural investment in the California utility-scale market last year.
EDF Renewables North America specializes in renewable energy and has a portfolio of 18 GW of developed projects.
Power Sustainable is a subsidiary of Power Corporation of Canada, managing CAD$3.9 billion in assets focused on sustainable investments.
Equinor has cancelled its offshore wind projects in Spain and Portugal and plans to exit Vietnam.
Rising costs in the offshore wind sector due to inflation, high interest rates, and supply-chain delays necessitate a prioritization of capital.
Equinor's head of renewables, Paal Eitrheim, noted that costs are increasing and project timelines are lengthening in many markets.
Equinor maintains a target of 12-16 gigawatts of installed renewable energy capacity by 2030, an increase from 0.9 gigawatts in 2023, though this target is not fixed.
The company is constructing the first phase of the Dogger Bank offshore wind farm in the UK with partners.
The Empire Wind project near New York and two Baltic Sea wind farms in Poland are nearing final investment decisions.
Scala Data Centers and Serena have announced the largest renewable energy supply agreement in Latin America.
The initiative will begin in January 2025, sourcing renewable energy from two wind farms in Bahia.
This project will enhance Scala's fully renewable energy portfolio to meet the demands of Hyperscale data centers.
The wind farms, Assuruá 4 and Ventos da Bahia 3, have a total installed capacity of 393 MW.
Scala will own a stake in these assets, tripling its renewable energy capacity for over a decade.
Scala is the first Latin American data center operator to consume 100% renewable energy.
CenterPoint Energy announced the completion of core resiliency actions in its Greater Houston Resiliency Initiative, ahead of schedule.
The initiative focused on improving the resiliency of CenterPoint Houston Electric's grid during hurricane season.
The company proposed a second phase of the initiative, which includes system hardening, strategic undergrounding, self-healing grid technology, and enhancements to the outage tracker.
CenterPoint plans to invest approximately $5 billion in resiliency from 2026 to 2028, potentially doubling its prior planned investment.
Copenhagen Infrastructure Partners and SSE Thermal have commenced operations of the 60MWe Energy-from-Waste plant in Slough, Greater London.
The Slough Multifuel plant processes 480,000 tonnes of residual waste annually, aiding the UK's strategy to minimize landfill and waste export.
The project was completed ahead of schedule and under budget, despite challenging market conditions, showcasing effective collaboration between partners.
During construction, the plant's capacity was increased from 50 to 60 MW, with performance guarantees ensuring high operational standards.
The plant has secured mid- and long-term Fuel Supply Agreements that will provide stable revenue streams.
The Coalition for Green Capital is Open for Business Proposals as First U.S. National Green Bank
Westinghouse welcomes approval of four new AP1000® technology-based nuclear reactors in China
ProtonH2 Advances Project Apollo with Selection of EPC Partner and Completion of Pre-FEED Phase
Air Products and Tatung Forever Energy Sign Power Purchase Agreement for Solar Electricity in Taiwan
AccelDev enters partnership with Harvest Renewables for community solar development
For no particular reason (other than that y'all liked it last time), here are 10 thought-provoking charts re: global energy transition dynamics:
1) Asia coal use far outstrips North America + Europe combined
— nvo (@nickvanosdol)
4:54 PM • Aug 21, 2024
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
