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Today @IEEFA_AsiaPac Yong-Liang Por's new report on the global surge in investment interest in pilot green hydrogen projects. Like battery storage, this is a game changer for low cost #RenewableEnergy. Europe, Australia, Korea, Japan & the US are leading.
ieefa.org/wp-content/upl…
The US is lead by @nexteraenergy with a US$65m, 20MW electrolyser in Florida, operational by 2022/23 for blending with an existing fossil gas peaker. 🇺🇸 ✅
greentechmedia.com/articles/read/… by @KEStromsta
And @CWP_Renewables' Asia Renewable Energy Hub aims to build 15GW of wind & solar capacity in the Pilbara to power green hydrogen at world scale. 🇦🇺✅
reneweconomy.com.au/pilbara-green-… by @GilesParkinson
Air Products 🇺🇸 has signed an agreement with ACWA Power & the city of NEOM of Saudi Arabia 🇸🇦 for a US$5bn investment to build the largest green hydrogen & green ammonia plant in the world. ✅atlanticcouncil.org/blogs/energyso…
In February 2020, @Shell, Gasunie & Groningen Seaports of the Netherlands announced plans for NortH2, Europe’s biggest green hydrogen project, powered by up to 10GW of offshore wind in the North Sea. 🇳🇱✅
greentechmedia.com/articles/read/… by @greentechmedia
The HyGreen Provence project27 aims to develop a large-scale solar power and green hydrogen project in France’s Durance Luberon Verdon Agglomération (DLVA) by @ENGIEgroup & @airliquidegroup. 🇫🇷✅engie.com/en/journalists…
In March 2020, Chinese state-owned utility Jingneng Power (JP) said it will spend RMB23bn (US$3bn) on a 5GW hybrid solar, wind, hydrogen and storage facility in Eqianqi, Inner Mongolia. 🇨🇳✅
pv-tech.org/news/beijing-j…
In January 2020 the Port of Oostende, DEME Concessions & PMV announced a partnership to build a green hydrogen plant29 in Ostend, Belgium, by 2025. 🇧🇪✅
deme-group.com/news/hyportr-g…
And @Equinor is leading a project to develop one of the UK’s first at-scale facilities to produce blue hydrogen from fossil gas, together with CCS at the project called Hydrogen to Humber Saltend (H2H Saltend). 🇬🇧🇳🇴✅
equinor.com/en/what-we-do/…
West Australia’s first commercial green hydrogen plant by Infinite Blue Energy looks set to proceed after an initial A$300m investment was secured, aiming to have the plant operational by 2022 in Dongara, 320km north of Perth. 🇦🇺✅
reneweconomy.com.au/massive-hydrog… by @MichaelM_ACT
In July 2020, @Iberdrola_En & Fertiberia signed an agreement to construct a €150m plant to produce green hydrogen for fertilizer manufacture in Puertollano, central Spain, and plan for it to be operational in 2021. 🇪🇸✅
iberdrola.com/press-room/new…
In January 2020, the Sundance consortium of @Macquarie Capital, FortisBC & Renewable Hydrogen Canada (RHC) announced they had secured C$200m financing to build a new C$200m hydrogen plant to produce 60t/day of hydrogen in Chetwynd, British Columbia. 🇨🇦✅
fuelcellsworks.com/news/canada-ma…
Green hydrogen is the next energy sector technology space race. Germany is right to focus on green & not get distracted investing in prolonging fossil gas as a bridge.
This is the next big energy sector disruptor, rapidly following batteries.
commercialsolarguy.com/2020/08/17/ame… @SolarInMASS
And a newly founded joint venture, "H2 Westküste GmbH", including EDF Germany, @Orsted, Holcim & the Heide refinery, intends to build a €89m 30 MW electrolyser as the first sep towards a 700MW electrolyser system. 🇩🇪✅
4coffshore.com/news/ørsted-an… by Tom Russell @4COffshoreNews
Nice overview, thanks @MichaelM_ACT!
reneweconomy.com.au/australia-is-a… by @renew_economy
Saudi Arabia sees green hydrogen as rapidly moving to be competitive with fossil gas due to collapsing costs of renewable energy. Solar as low as US$13.50/MWh in 2020 was achieved in the UAE. petroleum-economist.com/articles/low-c… by Ian Simm @PetroleumEcon
And this technology race sees Russia also angling not to miss out. June 2020 saw Russia's Energy Strategy to 2035 bring attention to the development of hydrogen energy, with hydrogen exports are proposed to increase to 2Mpta by 2035. 🇷🇺✅
energyintel.com/pages/eig_arti… by @energyintel
And @WoodMackenzie says Japan aims to lower green hydrogen price to US$3/kg by 2030 to build energy security and drive decarbonisation. woodmac.com/press-releases…
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💧 Tim Buckley
@TimBuckleyIEEFA
The carnage of the Oil & Gas Majors.
Negative oil prices. LNG <US$2/mmBtu.
Pivot or Die.
The boards have doubled down on expensive M&A when prices were double today, &/or catching the falling knife buying back their stock at double current prices. Caught asleep at the wheel.
The humbling of @ExxonMobil.
In a decade & the S&P500 rose 200% Exxon returned -10.8% to investors. The market evaluation of former CEO Rex Tillerson is clear, he failed. 2020 saw Exxon destroy 38% of shareholder wealth, Darren Woods is doing no better.
bloomberg.com/features/2020-…
The price of oil has collapsed well below the breakeven price of oil, as defined by the oil majors as oil price needed to cover capital spending and dividends.
Read 11 tweets
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💧 Tim Buckley
@TimBuckleyIEEFA
Anyone else noticing despite the pandemic, global financial institutions seem to be accelerating their exit from fossil fuels, starting with formal coal exit polices that are tightening at an accelerating pace! Or maybe these two issues are connected i.e. accepting the science?!
Here is one of the latest ones, @HSBC removed its three country exemptions (Bangladesh, Indonesia and Vietnam) for coal power, and expanded their project finance exemption for new tar sands and arctic drilling. 🇬🇧✅
hsbc.com/-/files/hsbc/i…
It took a while, but now @Citi has strengthened their previously very weak #coal policy. Now it is not too bad + Citi has committed to tightening transparently every year till they reach zero coal finance by 2030.🇺🇸✅
citigroup.com/citi/sustainab…
Read 16 tweets
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💧 Tim Buckley
@TimBuckleyIEEFA
Indian electricity demand has dropped 21% in absolute terms since the start of March 2020. As the high marginal cost source of power, coal-fired power generation is down 28%. @RajKSinghIndia, a key lesson for us is that #coal has worn 99% of curtailment in 🇮🇳.
And India ended FY2020 with record high coal stockpiles.
Analysis by @CWorringham. With domestic coal production increasing, and coal generation declining, the inevitable is lower imports of thermal coal over 2020.
Coal imports down 27% year-on-year in March 2020 to 15.7Mt, a reflection of things to come over 2020 after three years of coal import growth. An interesting dilemma for @Gautam_Adani's #Adani Carmichael HALE #coal proposal.
energy.economictimes.indiatimes.com/news/coal/coro…
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