How viable is Underground Hydrogen Storage?

BHAVESH VENKAT | December 23, 2021 | 120 views


Cleaner energy resources are the dire need of the hour and this is a known fact. While scientists and experts across the planet are striving hard to reduce our reliance on fossil fuels, our energy needs have never faced a downfall- thanks to rapid industrialization and urbanization. Although renewable resources like solar, wind, and hydro-electric power are the most popular alternatives, these are seasonal energy sources and the energy production from the same will not be similar all around the year.  The fluctuations in production hence cannot always meet the energy demand of the population, and this makes the renewable energy sources not completely reliable.

Solar Production v/s Demand of the same in a year

What and How H2 is produced?
Now, this is where Hydrogen- the first element of the periodic table comes to the spotlight with a solution.  Being a gas, hydrogen fuel can very well cater to our energy needs and is produced from techniques including Thermochemical, Solar-Water splitting, electrolytic and biological processes. While the production of this cleaner energy source leaves a carbon footprint of about 830 million tonnes in the form of CO2 annually, the result being a zero-emission fuel is what makes H2’s future bright.

Storage of H2 – the million-dollar question:
Having almost cleared the need and methods of producing hydrogen fuel, we will be looking at an area that is usually not given much thought about and that is the storage of H2. As already mentioned, for time being let us consider hydrogen as an alternative to renewable resources which is utilized when the energy demand increases drastically. While producing the fuel in the nick of time is obviously undoable, sufficient storage of H2 anticipating the demand is the best choice.  Like Natural Gas, Hydrogen is also compressed before storing to achieve lower volume and also because liquid hydrogen demands a 64% higher amount of energy for storage than its compressed gaseous counterpart. 

Storage tanks v/s Geological landforms:
Compressed Hydrogen can be stored in surface storage vessels (like steel composite concrete vessels and in wind turbine towers) or in geological landforms like (salt caverns, depleted O&G reservoirs, and aquifers). Nevertheless, unlike the underground geological landforms which offer huge storage capacity owing to their sheer scale, the storage tanks which can range in size from a small bottle to a huge tank require high amounts of pressure to store an appreciable amount of H2 in it. Since these storage tanks are usually constructed on the surface, the pressure conditions in these tanks need to be artificially stimulated and thereby mount huge upfront costs when compared to their geological storage counterpart.

H2  storage prices in Geological Landforms v/s Storage Vessels (in $/kg)

The above is a table comparing the prices of Hydrogen storage in Geological landforms and Storage Vessels at different pressure conditions. It is visible from the table that it's about 218 times cheaper to store the same amount of hydrogen in Geological landforms than in storage vessels.

Is geological storage truly a better option?
Like any other storage option geological storage too has its pros and cons. From the erosion of pipelines to the tedious task of injecting the gas and maintaining it at apt pressure conditions, geological storage has its limitations. However, the important prerequisite is the availability of the suitable landform itself.
While most of the Depleted O&G Reservoirs have already met all the requirements for a suitable Underground Hydrogen Storage (UHS) system, the presence of unrecoverable remnant fluids in it makes it both a boon and a bane. This is because the presence of remnant fluids like oil and gas satisfies the cushion gas need for efficient storage of H2 in the reservoir, chances of contamination of H2 by the same is also high. This is the reason why Aquifers too aren’t favorable underground landforms when it comes to hydrogen storage.

Salt Caverns- the best UHS System?
The problem of Hydrogen contamination in Depleted Oil & Gas reservoirs and aquifers leaves us to the next big suitable subsurface landform- salt caverns. Unlike the other two landforms, the problem of contamination can be prevented in these dome-like structures formed due to the upliftment of salt deposits and it is also found that about 98% of its storage efficiency can be used to store Hydrogen here.  The reason behind its relatively expensive nature when compared to its other two counterparts is due to the process of salt removing or leaching that must be done before storing to ensure that the contamination of the gas is unheard of at least here. 

Suitable Conditions of UHS:
As per Stefan Iglauer, the maximum amount of H2 can be stored at a depth of 1100m beneath the Earth’s surface and the capacity gradually decreases up until 3700 m depth beyond which the wettability of the gas increases as it percolates through the rocks and hence cannot be permanently immobilized. Conclusively it is found that suitable landforms formed at 1km depth can store up to 2.0 Mt of H2. Comparing this 2 MT storage capacity of Salt Caverns with the currently available storage tanks which can store about 800 kg of H2 in it, it is visible that geological landforms have a clear upper hand at least when it comes to storage capacity.

Future of UHS:
With demands for Hydrogen fuel estimated to grow at 5.48 % annually and the need for a suitable storage system of the same at 5.8% annually, the field of Underground Hydrogen Storage systems indeed has a bright scope. Moreover, to meet the large-scale needs of Industries, there is an imminent need to level up the storage capacity of H2 and by exploring suitable geological landforms across the globe, the estimated industrial need of 1200 kT/ year in 2050 can be met.

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OCTA+

OCTA+ is the only Belgian supplier of fuel, fuel oil, electricity and natural gas. Thanks to our independent market position, we can guarantee the lowest prices on the market. Partly due to mergers and acquisitions, the company grew to become the largest independent distributor of petroleum products in Belgium. OCTA+ distributes more than 500 million litres of fuel and home heating oil to more than 100 000 customers.

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Slashing Greenhouse Gas Emissions: A Business Perspective!

Article | March 22, 2021

“With Great Power Comes Great Responsibility” – Voltaire (François-Marie Arouet) We, humans, had completely buried this quote until it was brought back to life recently. Business leaders should remember this quote as it perfectly fits into the environmental-business perspective that we are presently facing. If the world has to tackle the problem of climate change or come even close to achieving that goal, businesses and industries will have to play a key role. Almost a quarter, or 23% to be precise, of greenhouse gas emissions in the United States, come directly from industries. This number rises to 29.6% if we combine indirect emissions too. When looking for causes of climate change, the private sector is often linked to. Minimizing your carbon footprint appears to be the year's buzzword, but where can businesses begin with such an ambiguous task? How do we assess progress? Peter Drucker wrote the premise of an answer back in 1954: "What gets measured, gets managed." If a business really wants to become more sustainable, the first step should be to try to understand its current situation and begin tracking its carbon emissions. Measuring carbon emissions is a difficult problem. Major businesses that do not have carbon monitoring and reduction programs have become the exception. Recognizing and measuring CO2 emissions aids in the identification of excessive energy consumption and other inefficiencies. Most of the time, lowering greenhouse gas emissions goes hand in hand with making a business's processes more efficient and cost-effective. Reducing Greenhouse Gas Emissions: What Do Businesses Gain? In addition to the long-term environmental benefits that will help us in saving our planet, organizations can also benefit from the positive impacts of greenhouse gas emission reduction. Some of the top benefits of effective emission management are as follows. 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For the time being, many small businesses are finding it difficult to gather data on all these emissions that are beyond their control. According to the BBC, only 10% of more than 1,000 organizations surveyed in the United Kingdom keep track of their carbon footprint. Moreover, one in every five companies does not understand what the term "net-zero" means and a third really hasn't sought any help to make their company more sustainable. Exploring available information on measuring emissions data is the best approach for small businesses to understand more about the ways they can reduce their carbon footprint. The EPA Center for Corporate Climate Leadership includes a wealth of resources to assist small business owners in measuring and reporting their emissions. Business owners can learn how to establish a greenhouse gas inventory, measure their emissions, collaborate with sustainable suppliers, and gather data to develop sustainable solutions. Small businesses can also utilize a carbon footprint calculator to determine the quantity of emissions generated by their activities. Once company owners realize how much carbon they are emitting, they can start to tackle where it is coming from and make the necessary modifications. The most important thing that business owners can do is to always look for ways to improve their business's sustainability. Additional information will be made available to help company owners as they seek guidance on how to minimize their carbon footprint. Best Practices for Companies to Achieve Net Zero and Stay Profitable Transitioning to net zero is such a demanding task that many businesses believe it is impossible to do while retaining profit margins. As a result, many businesses concentrate on low-hanging fruit and short-term alternatives, like offloading emissions onto others by divesting from high-carbon-emitting companies. 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Article | April 20, 2021

Right now, renewable energy makes up a very small part of the entire energy sector of Bangladesh. But as we move into the future, and concerns about the environment become too great to ignore, exploring cleaner and greener sources of energy becomes the need of the hour. Our economy is booming, and our population is growing, so it goes without saying that our energy requirements are immense. There is plenty of scientific evidence that burning fossil fuels indiscriminately is not sustainable in the long term, so we do need to up our game in looking at alternatives.

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2020: The Year of Convergence in Corporate Renewables

Article | July 27, 2022

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2020 Trends That Will Make Waves In The Energy Industry

Article | February 10, 2020

In the renewable world, energy is generated by weather and the amount of energy that can be produced depends on the current conditions. Energy storage can ensure a power supply is maintained when weather conditions are not optimal for generating energy. While energy storage products have already been introduced to all levels of the market there are several technology hurdles to overcome before energy storage will reach maximum potential. We believe there will be great advancements in 2020 on:

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OCTA+

OCTA+ is the only Belgian supplier of fuel, fuel oil, electricity and natural gas. Thanks to our independent market position, we can guarantee the lowest prices on the market. Partly due to mergers and acquisitions, the company grew to become the largest independent distributor of petroleum products in Belgium. OCTA+ distributes more than 500 million litres of fuel and home heating oil to more than 100 000 customers.

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BLUETTI Unveiled Energy Storage System EP600 & B500 to Tackle Ongoing Energy Crisis

BLUETTI | November 29, 2022

Electricity demand is predicted to grow rapidly as winter is coming soon. Under the rules introduced by Swiss government ordinance, buildings with gas heating systems can only warm rooms up to 19°C. However, it’s not just Switzerland bearing the brunt of the energy crisis. Europe’s largest economy recently announced a winter gas surcharge would come into effect in October. Many countries are gradually taking drastic measures to respond to the surging energy demand. In this case, why not consider powering via a smarter, greener, and more affordable way? The upcoming launch of BLUETTI EP600 is undeniable a big moment for building a whole-house backup power system. It’s a long-anticipated model to help citizens realize power independence with ease and be well-prepared for the unexpected without any fuss. EP600 is a modular ESS (Energy Storage System) that provides a one-stop solution for every family to alleviate energy shortages. It is packed with a 6.000VA bi-directional inverter for AC input and output, delivering 230/400V AC power to run almost any household appliance. B500 expansion battery features 4.960Wh LFP battery cells for a 10 years lifespan. Every EP600 supports up to 16*B500 for a 79,3kWh capacity, sufficient to cover all power needs at home even in the coldest winter! How to cushion soaring energy bills through EP600 ESS? At sunrise, EP600 captures and converts the sunlight into ready-to-use solar energy. It’s recommended to use solar and the grid when energy price is low. Meanwhile, the excess can be stored for later use or even sold to power companies to earn commissions. Utility power costs a pretty penny in the afternoon when there’s most sunlight in the daytime. By connecting with solar panels, EP600 accepts up to 6.000W solar input, so fully charging an EP600+2*B500 combo only takes about 2,2 hours! During peak hours (generally from 4PM to 9PM), EP600 can take the place of the grid and become the only power source of all appliances, making it an effective approach to avoiding higher electricity bills in the long run. BLUETTI officially released EP600 & B500 on November 10, 4:00 PM (Berlin time) in specific countries, including Germany, Italy, French, Spain, Netherland. The early bird price of the EP600 & 2*B500 combo is $8.999 till December 31, and It is expected to ship by the end of November after pre-ordering. About BLUETTI With over 10 years of industry experience, BLUETTI has tried to stay true to a sustainable future through green energy storage solutions for both indoor and outdoor use while delivering an exceptional eco-friendly experience for everyone and the world. BLUETTI is making its presence in 70+ countries and is trusted by millions of customers across the globe. For more information, please visit BLUETTI online at https://www.bluettipower.eu/.

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Enphase Energy Launches IQ8 Microinverters in France and the Netherlands

Enphase Energy, Inc | December 01, 2022

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced the launch of IQ8™ Microinverters in France and the Netherlands, marking the first expansion into international markets for the product since its successful launch in North America late last year. IQ8 Microinverters are the smartest, most powerful microinverters yet for Enphase, with a 97.2 percent efficiency score based on European Union efficiency standards. IQ8 Microinverters are designed to match the latest generation of high output solar modules, delivering superior reliability, safety, and quality for residential solar systems. The IQ8 family of products offered in France and the Netherlands includes two types of software-defined microinverters, IQ8M™and IQ8+™, which feature a peak output AC power of 330VA and 300VA, respectively. The microinverters are designed to seamlessly pair with a full range of solar modules up to 480W DC and come with a 25-year limited warranty. “We’re proud to have been selected by Enphase to install its first IQ8 Microinverters tested in France at our customers' homes, We choose this microinverter technology for our customers as they are interested in self-consumption, and it offers reliability and scalability, even for the most complex rooftop designs.” -Giovanni Genco, director of operations at Libow, an Enphase Platinum level installer in France. We’ve witnessed an impressive uptick in customer interest for Enphase’s industry leading products in the Netherlands, said Twan Geurts van Kessel, founder and co-owner of Solar Concept, an Enphase Gold level installer in the Netherlands. “IQ8 Microinverters will help us meet this demand as homeowners seek ways to power their homes with clean, affordable solar energy. Enphase® microinverter systems integrate with the IQ™ Gateway, which when connected to the internet, connects Enphase-based solar systems to the Enphase® App monitoring platform and helps make per-panel energy monitoring and insights for operations and maintenance easy. “We’re proud to work with Enphase to deliver best-in-class technology that unlocks more sustainable living for French homeowners, It’s clear that there is demand for high-performing and safe residential solar energy systems in France and, together with Enphase, we are diligently working to satisfy this demand with the IQ8 Microinverter.” -Philippe Farce, managing director at Acape Energies, an Enphase Platinum level installer in France For years, we’ve offered Enphase’s products to our customers, helping thousands of households across the Netherlands become more energy independent with industry-leading technology, said Jasper Klein, CEO at New Solar, an Enphase Gold level installer in the Netherlands. “IQ8 Microinverters open up new opportunities for even more reliable, higher-performing, and safer home solar generation at a time when consumers can benefit most. We’re pleased to be working with world-class installers in France and the Netherlands, helping us meet the growing demand for clean, reliable, and affordable energy in Europe, said Dave Ranhoff, chief commercial officer at Enphase Energy. “As Enphase continues to expand in the European solar market, we will look to enable our growth with best-in-class technology like IQ8 Microinverters and a continued focus on superior customer service. Enphase is rapidly expanding its presence in Europe. The company also launched the Enphase Installer Network in France and the Netherlands in 2022 and 2021 respectively, and announced that it will expand manufacturing capacity with its partner Flex in Romania beginning in 2023. IQ8 Microinverter pilot installations began in France and the Netherlands in October with select installer partners. Enphase expects to start taking orders for IQ8 products and begin production shipments for distributor and installer partners in those countries immediately. For more information on Enphase Energy, visit the France website and the Netherlands website. About Enphase Energy, Inc. Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, IQ8M, IQ8+, IQ Gateway, Enphase App, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

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Cube Green Energy Acquires Maiden Onshore Wind Assets in Germany

Cube Green Energy | December 01, 2022

Cube Green Energy, a renewable energy transition platform recently established by I Squared Capital, has made three strategic investments in operating onshore wind projects across two states in Germany, totalling 28 MW. The acquired wind farms consist of 17 WTGs and an average operating life of 21 years. Cube Green Energy will work on increasing the energy generation at the sites through upgrading and repowering the existing technology, contributing to Germany’s net zero goals. To address the challenges of renewable energy intermittency, Cube Green Energy will work with local stakeholders to optimise the sites for potential storage solutions, including utility-scale batteries. When fully realised, energy capacity and generation at the sites is expected to more than triple, with storage solutions making renewable energy a viable alternative for local consumers and industrial users who require a 24/7 uninterrupted electricity supply. The acquisitions follow the launch of Cube Green Energy in Oct 2021 and build on the stated ambition to initially commit US$500 million over the coming years to build Cube Green Energy into a leading renewables IPP (independent power producer) that can help enable Europe’s transition to a zero-carbon economy. Deploying the team’s strong financial capabilities and energy expertise, Cube Green Energy continues to evaluate additional acquisition opportunities in continental Europe, including in Germany. “These acquisitions sit squarely within Cube Green Energy’s ambition to acquire and upgrade aging renewable energy facilities and to supplement with energy storage and hybrid solutions At Cube Green Energy, we see enormous opportunities in Germany and other countries in Continental Europe to improve the efficiency of the renewable energy fleet and we aim to be at the forefront in implementing innovative solutions to enable the replacement of existing base load power with renewable sources.” -Raghuveer Kurada, Chief Executive Officer at Cube Green Energy The team at Cube Green Energy has drawn on its strong partner network to source these opportunities and exhibited incredible resilience and disciplined underwriting to close these transactions during an unprecedented year of volatility in the European energy markets. Cube Green Energy expects these early acquisitions to be the template for future deals as we ramp up our capital deployment and hasten the pace of project acquisitions. About Cube Green Energy Established in late 2021 by I Squared Capital, Cube Green Energy is a pan-European renewable energy IPP dedicated to improving renewable energy efficiency and availability by upgrading and repowering aging renewable energy farms and optimising sites with the deployment of storage and hybrid solutions. The management of Cube Green Energy has 75+ years of experience in energy investments and managed portfolios of 10+GW in renewable technology globally. Cube Green Energy currently operates 28 MW of onshore wind assets and has a development pipeline of 70+ MW expected to be ready to build over the next 3-4 years.

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BLUETTI Unveiled Energy Storage System EP600 & B500 to Tackle Ongoing Energy Crisis

BLUETTI | November 29, 2022

Electricity demand is predicted to grow rapidly as winter is coming soon. Under the rules introduced by Swiss government ordinance, buildings with gas heating systems can only warm rooms up to 19°C. However, it’s not just Switzerland bearing the brunt of the energy crisis. Europe’s largest economy recently announced a winter gas surcharge would come into effect in October. Many countries are gradually taking drastic measures to respond to the surging energy demand. In this case, why not consider powering via a smarter, greener, and more affordable way? The upcoming launch of BLUETTI EP600 is undeniable a big moment for building a whole-house backup power system. It’s a long-anticipated model to help citizens realize power independence with ease and be well-prepared for the unexpected without any fuss. EP600 is a modular ESS (Energy Storage System) that provides a one-stop solution for every family to alleviate energy shortages. It is packed with a 6.000VA bi-directional inverter for AC input and output, delivering 230/400V AC power to run almost any household appliance. B500 expansion battery features 4.960Wh LFP battery cells for a 10 years lifespan. Every EP600 supports up to 16*B500 for a 79,3kWh capacity, sufficient to cover all power needs at home even in the coldest winter! How to cushion soaring energy bills through EP600 ESS? At sunrise, EP600 captures and converts the sunlight into ready-to-use solar energy. It’s recommended to use solar and the grid when energy price is low. Meanwhile, the excess can be stored for later use or even sold to power companies to earn commissions. Utility power costs a pretty penny in the afternoon when there’s most sunlight in the daytime. By connecting with solar panels, EP600 accepts up to 6.000W solar input, so fully charging an EP600+2*B500 combo only takes about 2,2 hours! During peak hours (generally from 4PM to 9PM), EP600 can take the place of the grid and become the only power source of all appliances, making it an effective approach to avoiding higher electricity bills in the long run. BLUETTI officially released EP600 & B500 on November 10, 4:00 PM (Berlin time) in specific countries, including Germany, Italy, French, Spain, Netherland. The early bird price of the EP600 & 2*B500 combo is $8.999 till December 31, and It is expected to ship by the end of November after pre-ordering. About BLUETTI With over 10 years of industry experience, BLUETTI has tried to stay true to a sustainable future through green energy storage solutions for both indoor and outdoor use while delivering an exceptional eco-friendly experience for everyone and the world. BLUETTI is making its presence in 70+ countries and is trusted by millions of customers across the globe. For more information, please visit BLUETTI online at https://www.bluettipower.eu/.

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Enphase Energy Launches IQ8 Microinverters in France and the Netherlands

Enphase Energy, Inc | December 01, 2022

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced the launch of IQ8™ Microinverters in France and the Netherlands, marking the first expansion into international markets for the product since its successful launch in North America late last year. IQ8 Microinverters are the smartest, most powerful microinverters yet for Enphase, with a 97.2 percent efficiency score based on European Union efficiency standards. IQ8 Microinverters are designed to match the latest generation of high output solar modules, delivering superior reliability, safety, and quality for residential solar systems. The IQ8 family of products offered in France and the Netherlands includes two types of software-defined microinverters, IQ8M™and IQ8+™, which feature a peak output AC power of 330VA and 300VA, respectively. The microinverters are designed to seamlessly pair with a full range of solar modules up to 480W DC and come with a 25-year limited warranty. “We’re proud to have been selected by Enphase to install its first IQ8 Microinverters tested in France at our customers' homes, We choose this microinverter technology for our customers as they are interested in self-consumption, and it offers reliability and scalability, even for the most complex rooftop designs.” -Giovanni Genco, director of operations at Libow, an Enphase Platinum level installer in France. We’ve witnessed an impressive uptick in customer interest for Enphase’s industry leading products in the Netherlands, said Twan Geurts van Kessel, founder and co-owner of Solar Concept, an Enphase Gold level installer in the Netherlands. “IQ8 Microinverters will help us meet this demand as homeowners seek ways to power their homes with clean, affordable solar energy. Enphase® microinverter systems integrate with the IQ™ Gateway, which when connected to the internet, connects Enphase-based solar systems to the Enphase® App monitoring platform and helps make per-panel energy monitoring and insights for operations and maintenance easy. “We’re proud to work with Enphase to deliver best-in-class technology that unlocks more sustainable living for French homeowners, It’s clear that there is demand for high-performing and safe residential solar energy systems in France and, together with Enphase, we are diligently working to satisfy this demand with the IQ8 Microinverter.” -Philippe Farce, managing director at Acape Energies, an Enphase Platinum level installer in France For years, we’ve offered Enphase’s products to our customers, helping thousands of households across the Netherlands become more energy independent with industry-leading technology, said Jasper Klein, CEO at New Solar, an Enphase Gold level installer in the Netherlands. “IQ8 Microinverters open up new opportunities for even more reliable, higher-performing, and safer home solar generation at a time when consumers can benefit most. We’re pleased to be working with world-class installers in France and the Netherlands, helping us meet the growing demand for clean, reliable, and affordable energy in Europe, said Dave Ranhoff, chief commercial officer at Enphase Energy. “As Enphase continues to expand in the European solar market, we will look to enable our growth with best-in-class technology like IQ8 Microinverters and a continued focus on superior customer service. Enphase is rapidly expanding its presence in Europe. The company also launched the Enphase Installer Network in France and the Netherlands in 2022 and 2021 respectively, and announced that it will expand manufacturing capacity with its partner Flex in Romania beginning in 2023. IQ8 Microinverter pilot installations began in France and the Netherlands in October with select installer partners. Enphase expects to start taking orders for IQ8 products and begin production shipments for distributor and installer partners in those countries immediately. For more information on Enphase Energy, visit the France website and the Netherlands website. About Enphase Energy, Inc. Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, IQ8M, IQ8+, IQ Gateway, Enphase App, and certain other names and marks are trademarks of Enphase Energy, Inc. 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Cube Green Energy Acquires Maiden Onshore Wind Assets in Germany

Cube Green Energy | December 01, 2022

Cube Green Energy, a renewable energy transition platform recently established by I Squared Capital, has made three strategic investments in operating onshore wind projects across two states in Germany, totalling 28 MW. The acquired wind farms consist of 17 WTGs and an average operating life of 21 years. Cube Green Energy will work on increasing the energy generation at the sites through upgrading and repowering the existing technology, contributing to Germany’s net zero goals. To address the challenges of renewable energy intermittency, Cube Green Energy will work with local stakeholders to optimise the sites for potential storage solutions, including utility-scale batteries. When fully realised, energy capacity and generation at the sites is expected to more than triple, with storage solutions making renewable energy a viable alternative for local consumers and industrial users who require a 24/7 uninterrupted electricity supply. The acquisitions follow the launch of Cube Green Energy in Oct 2021 and build on the stated ambition to initially commit US$500 million over the coming years to build Cube Green Energy into a leading renewables IPP (independent power producer) that can help enable Europe’s transition to a zero-carbon economy. Deploying the team’s strong financial capabilities and energy expertise, Cube Green Energy continues to evaluate additional acquisition opportunities in continental Europe, including in Germany. “These acquisitions sit squarely within Cube Green Energy’s ambition to acquire and upgrade aging renewable energy facilities and to supplement with energy storage and hybrid solutions At Cube Green Energy, we see enormous opportunities in Germany and other countries in Continental Europe to improve the efficiency of the renewable energy fleet and we aim to be at the forefront in implementing innovative solutions to enable the replacement of existing base load power with renewable sources.” -Raghuveer Kurada, Chief Executive Officer at Cube Green Energy The team at Cube Green Energy has drawn on its strong partner network to source these opportunities and exhibited incredible resilience and disciplined underwriting to close these transactions during an unprecedented year of volatility in the European energy markets. Cube Green Energy expects these early acquisitions to be the template for future deals as we ramp up our capital deployment and hasten the pace of project acquisitions. About Cube Green Energy Established in late 2021 by I Squared Capital, Cube Green Energy is a pan-European renewable energy IPP dedicated to improving renewable energy efficiency and availability by upgrading and repowering aging renewable energy farms and optimising sites with the deployment of storage and hybrid solutions. The management of Cube Green Energy has 75+ years of experience in energy investments and managed portfolios of 10+GW in renewable technology globally. Cube Green Energy currently operates 28 MW of onshore wind assets and has a development pipeline of 70+ MW expected to be ready to build over the next 3-4 years.

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