Tracking the Energy Transition: Renewable Energy Projects Make History Around the Globe
The energy transition stays front and center as Dogger Bank, the world’s largest offshore wind farm, begins exporting power. Elsewhere, India goes green and CCS in Canada hits a snag.
The world’s largest offshore wind farm, located in the North Sea, began exporting power in early October. The historic Dogger Bank Wind Farm is the result of a partnership between developers SSE, Equinor, and Vårgrønn and is expected to produce 3.6 GW of power.
“A renewable megaproject like Dogger Bank constitutes an industrial wind hub in the heart of the North Sea, playing a major role in the UK’s ambitions for offshore wind and supporting its net zero ambitions,” Equinor CEO Anders Opedal said in a press release.
TotalEnergies Goes Green in India
TotalEnergies has announced a new partnership with Adani Green Energy to invest $300 million toward the development of wind and solar farms, estimated to generate 1,050 MW of green energy, in India. Adani announced it is hopeful the deal will help the company achieve its target of having 45 GW of renewable energy capacity by 2030. “This is a joint venture, which gives TotalEnergies direct access to ownership of the assets contributed by (Adani),” a TotalEnergies spokesperson said.
Masdar Makes Big Moves
The UAE has launched its first commercially sized wind project capable of producing 103.5 MW of renewable energy. Masdar, a UAE-based renewable energy company, will be taking on the project, which is estimated to provide power to more than 23,000 homes across four locations, according to Reuters.
Masdar also announced plans to invest $8 billion in renewable energy projects including ground-mounted, rooftop, and floating solar totaling 10 GW of power in Malaysia. Additionally, the company will help build wind farms and battery energy storage systems.
CCS in Canada Hits a Snag
Advancement on a $12.27 billion carbon capture and storage (CCS) project in Canada has stalled because of contract issues. The Pathways Alliance project consists of six of the country’s largest oil sands companies planning to build a CCS hub to store emissions from 14 projects in northern Alberta’s oil sands by 2030. The Canadian government has deemed the project too large and too risky for a contract for difference, according to Reuters. “Over the life of the project, we’ll spend 60% on operating costs versus 40% on capital. The contract for difference ... is absolutely critical in allowing this project to proceed,” Pathways President Kendall Dilling said.
Brazilian Partnership Looks Toward Decarbonization
Petrobras has announced it signed a memorandum of understanding with global mining company Vale to explore low-carbon solutions. The agreement, lasting 2 years, will allow the companies to assess joint decarbonization opportunities including sustainable fuel development and CO2 capture and storage technologies.
“Brazil has all the necessary conditions to lead a large-scale development of low-carbon solutions and renewable fuels, such as green hydrogen and green methanol,” said Eduardo Bartolomeo, Vale’s CEO. “Vale is firmly committed to reducing its carbon footprint and wants to be a protagonist in this journey, leveraging relevant actions for the energy transition in Brazil. This agreement with Petrobras fits perfectly into this context.”
Project Hestia Strikes Big To Help Energy Infrastructure
Sunnova Energy Corporation’s Project Hestia has received a $3 billion partial loan guarantee from the US Department of Energy. Project Hestia will provide loans for clean energy systems for approximately 75,000 to 115,000 US homeowners to access clean energy including rooftop solar installations, residential battery systems, and smart software to reduce energy waste. The project is expected to reduce 7.1 million tonnes of carbon dioxide over the next 25 years.
“Project Hestia would make possible a historic private sector investment in disadvantaged American communities and energy infrastructure,” said William J. Berger, CEO of Sunnova. “The DOE financing would accelerate the adoption of solar and storage, decrease greenhouse gas emissions, and expand the availability of reliable, clean, and affordable energy to those communities who benefit the most from low-cost energy.”
New England States Look to Wind Power
Massachusetts, Rhode Island, and Connecticut have teamed up to jointly procure offshore wind power, with the states announcing they will seek proposals for a 6,000 MW offshore wind farm. The selection is set to be made in 2024.
“The climate crisis requires us to act in new and innovative ways,” Massachusetts Gov. Maura Healey said in a statement. “Massachusetts is proud to join with our neighboring states to continue to grow New England’s offshore wind industry. By working together, we can amplify the many benefits of offshore wind for all three states, including regional economic development opportunities, healthier communities, lower energy bills, and advantages to environmental justice populations and low-income ratepayers.”
Japanese Power Goes Down Under
Japanese companies Sojitz and Eneos announced the launch of a large-scale solar power plant in Australia in late September. The Queensland-based plant, the largest in Australia run by Japanese investors, will provide 204 MW of solar power.
Croatia Sets Sights on Geothermal
Croatia has granted permits for exploration of five geothermal blocks in the Drava River basin in the northeast of the country, thanks to a $421.64 million investment into the green energy, according to Reuters. The investment comes after the Croatian Hydrocarbon Agency identified around 200 wells originally drilled for oil and gas exploration and 75 areas suitable for district heating or power generation development, with a potential for over 1 GW of energy.
Taiwan Home to New Offshore Wind Farm
Japanese trading company, Mitsui & Co. announced it finalized a plan with Canada’s Northland Power to develop a 1 GW offshore wind farm in Taiwan. The deal, worth $6.5 billion, includes the construction of 73 large wind turbines across three sections in Changhua County, with the development expected to be completed by the end of 2026.
Hystar Plans Big in Norway, Looks Toward North American Expansion
Norwegian electrolyzer company Hystar has announced plans to build a new factory outside of Oslo capable of producing 4 GW of electrolyzer capacity per year. The factory will be in Høvik and is expected to be fully functional by 2026. The company also announced its intention to expand into North America, with plans to set up a North American headquarters in 2024 and build a multi-GW factory by 2027. “Both the US and Canada have attractive incentives on offer, demonstrating a clear commitment to providing our industry with much-needed certainty and financial support,” Hystar CEO Fredrik Mowill said.