ONGC and NTPC to establish joint venture for renewables business

Newshour | June 01, 2020

Oil and Natural Gas Corporation (ONGC) and India’s largest energy conglomerate NTPC have recently signed a memorandum of understanding (MoU) to establish a joint venture for renewable energy business. As per the terms of the MoU, both of these firms have agreed to explore and set up renewable energy projects in India and overseas markets. This venture will focus on opportunities in the fields of sustainability, storage, e-mobility and ESG compliant portfolios. ONGC director (finance) Subhash Kumar and NTPC director (commercial) A K Gupta signed the MoU. The joint venture is focusing to reduce the carbon footprint and carbon cost of funding. However, ONGC Chairman and Managing Director Shashi Shanker and NTPC head Gurdeep Singh through virtual conferencing witnessed the occasion. Presently, NTPC has 920MW of installed renewable power capacity in its portfolio and around 2,300MW of renewable projects are under process. By 2032, the company is aiming to attain a goal to produce 32 GW (Giga Watt). However, on the other hand, ONGC has 176 MW (Mega Watt) of renewable power capacity including 153 MW wind power and 23 MW of solar energy. ONGC had entered into non-conventional energy sources, especially wind power, under the leadership of former chairman, late Subir Raha. The company had also established a Renewable Energy Cell (REC) under chief technical services. The cell was set up with an aim to act as the knowledge centre for all renewable energy projects.

Spotlight

Hydropower or hydroelectricity refers to the conversion of energy from flowing water into electricity.


Other News
STRATEGY AND BEST PRACTICES

Johnson Matthey's technologies selected to enable sustainable fuel production for plant in Bilbao

Johnson Matthey | May 25, 2022

Johnson Matthey, a global leader in sustainable technologies, and bp, an international energy company, have announced that their co-developed, ground-breaking Fischer Tropsch (FT) CANS™ technology and Johnson Matthey's innovative reverse water gas shift technology, HyCOgen™, have been selected for use by Aramco and Repsol at a new synthetic fuels plant in Bilbao, Spain. The plant will be one of the world's first to use renewable (green) hydrogen and CO2 as its only raw materials. It is due to be commissioned in 2024, with a starting capacity of more than 2,100 tonnes per year. It will produce a sustainable synthetic drop-in fuel that can be blended for existing road vehicle engines, planes and ships. It is the second licence signed for the FT CANS technology, which was jointly developed with bp to deliver significant environmental and operational benefits. It converts synthesis gas (syngas), generated from sources such as industrial emissions, direct air capture, municipal solid waste or other renewable biomass, into long-chain hydrocarbons suitable for the production of diesel and jet fuels. It is the first licence signed for Johnson Matthey's recently launched HyCOgen technology, which uses a catalysed process to convert CO2 and green hydrogen into carbon monoxide (CO), which is then combined with additional hydrogen to form syngas. Coupling HyCOgen and FT CANS technologies provide an end-to-end, scalable process optimized for high conversion efficiency — enabling the production of premium quality synthetic crude oil. Aramco Chief Technology Officer, Ahmad Al-Khowaiter, said: "This agreement supports our ongoing work to develop lower-emission transport solutions and we are thrilled by the opportunity it represents. Converting CO2 into synthetic, lower-carbon fuels can meaningfully contribute to the reduction of transport emissions and, through this strategic partnership, we aim to harness innovative technologies that can unlock the full potential of both sustainable fuels and chemicals — and demonstrate their competitiveness." Adriana Orejas, Director Industrial Transformation and Deep Tech at Repsol said: "The development of Bilbao synthetic fuel, where sustainable synthetic fuel shall be produced, represents an important step on our commitment of being a Net Zero Emission company by 2050, aligned with the climate objectives set out in Paris by COP21. Coupling Johnson Matthey, a reliable and demonstrated global leader technologist, HyCOgen and FT CANS Technology allow us to demonstrate the whole value chain of producing sustainable fuel from CO2 and renewable hydrogen as unique raw materials, complementing Repsol´s portfolio of Low carbon fuels alternatives." Noemie Turner, VP Technology development & commercialisation at bp, said: "Repsol and Aramco choosing to license our co-developed FT CANS technology recognises great science and engineering. This builds on the first license to Fulcrum Bioenergy, further demonstrating the key role of the technology in the production of sustainable fuels." Jane Toogood, Sector Chief Executive at Johnson Matthey, said: "In licensing both the HyCOgen and FT CANS technologies for their Bilbao plant, Repsol and Aramco have recognised the potential of this pioneering solution — and shown that we're a trusted partner in sustainable fuel production technology." The scalability of the combined HyCOgen and FT CANS solutions enables cost-effective deployment across a wide range of project sizes. Either technology can also be licensed independently. About Johnson Matthey: Johnson Matthey is a global leader in sustainable technologies that enable a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers' products. Our science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources. Today about 15,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us.

Read More

SUSTAINABILITY,PRODUCTS

Bridge Investment Group Announces Expansion Into Solar Energy, Partnership With Lumen Energy

Lumen Energy | July 14, 2022

Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) announced the launch of its newest strategy, Bridge Solar Energy Development (“Bridge Solar”), in partnership with Lumen Energy Inc. (“Lumen”).As companies move to decarbonize their operations, onsite renewable energy is increasingly economical. Commercial rooftop solar technology costs have fallen 69% over the last 10 years, while retail electricity prices increased 10% nationally just since 2020; however, onsite commercial solar deployment has remained slow due to complex utility building data, supply chain issues, financing complexities and diverse state-specific incentives. For one-off projects, the unfamiliar process overhead and capital expenditure remain high compared to direct benefits, yet too small for utility-scale investors. Bridge believes that its national footprint and local expertise, combined with Lumen’s data-driven technology, will streamline the analysis and implementation of solar in a high-demand market that has been largely untapped. Only 4.5% of the approximately six million commercial properties in the United States currently have solar arrays, leaving more than 145 gigawatts of onsite solar potential. “We expect Bridge Solar to provide an unmet need for green energy, via the provision of clean energy at a discount to market rates by deploying renewable energy infrastructure equipment on existing buildings, By partnering with Lumen Energy, a leader in the clean energy software and energy project development process technology space, we will offer best in class design, procurement, construction and operation of solar projects on properties owned by Bridge-managed funds and third-party assets.” -John Ward, Chief Executive Officer, Bridge Solar, and Chief Investment Officer, Bridge Office. This unique partnership enables Bridge Solar to evaluate thousands of new property addresses at once, and make decisions in minutes. Building on technology pioneered at U.S. National Labs, Lumen’s technology quantifies the economically ideal “clean energy stack” unique to each property, inclusive of financing and incentives, then automates the deployment process. “We are excited to partner with Bridge on the next phase of growth for Lumen, Together, our scale, precision, and automation allow us to deliver profitable decarbonization with speed and ease. By building solar-powered energy systems on existing buildings, Bridge Solar will utilize unused space to meet the growing demand for green energy, while simultaneously providing owners and tenants a discount to market energy prices.” -Peter Light, Chief Executive Officer of Lumen About Bridge Investment Group Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $38.8 billion of assets under management as of March 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit. About Lumen Energy Lumen Energy is a leading software platform that empowers commercial real estate owners to profitably select and deploy renewable energy across many properties at once. Lumen Energy’s software fuses supercomputer outputs and energy market data into investment-grade financial models, enabling building owners to easily evaluate which clean energy solutions enhance the value of their buildings. The Lumen platform connects owners with a marketplace of qualified local installers, automating clean energy deployment from start-to-finish.

Read More

ECONOMY

CATL launches CTP 3.0 battery "Qilin," achieves the highest integration level in the world

CATL | June 23, 2022

On June 23, CATL launched Qilin, the third generation of its CTP (cell-to-pack) technology. With a record-breaking volume utilization efficiency of 72% and an energy density of up to 255 Wh/kg, it achieves the highest integration level worldwide so far, capable of delivering a range of over 1,000 km in a breeze. Focusing on the very nature of electrochemistry, CATL continues its endeavor to push beyond the boundaries of innovations in system structure. In 2019, CATL launched the world's first module-less battery pack CTP, taking the lead in achieving a volume utilization efficiency of over 50%. Together with overall breakthroughs in the core process, algorithm and materials, CATL redefines battery structure design with "Qilin," which is named after a legendary creature in Chinese mythology. Function Integration. In the CTP 3.0 battery, the internal crossbeam, liquid-cooling plate and thermal pad have been integrated into a multifunctional elastic interlayer. It also features built-in micron bridges inside the interlayer, which flexibly accommodate the changes inside the cell, improving the battery reliability throughout its full life cycle. The integrated energy unit, which is composed of the cell and the multifunctional elastic interlayer, builds a more stable load bearing structure perpendicular to the driving direction, thus enhancing the shock and vibration resistance of the battery pack. Reshaping system structure. Powered by its precise computing and AI simulation capabilities, CATL explores the boundaries of battery design involving the battery's full life cycle application scenarios. The ingenious bottom sharing design allows the smart arrangement of various components including structural protection, high-voltage connection and a protective vent for thermal runaway, further increasing the battery capacity by 6%. Meanwhile, the CTP 3.0 battery satisfies the criteria of the battery safety tests required by national standards such as the bollard test. Disruptive Water Cooling Design . By placing liquid cooling functional parts between adjacent cells, the trailblazing large-surface cell cooling technology increases the heat transfer area by four times, cuts thermal control time in half, and supports a hot start in 5 minutes and fast charging in 10 minutes. It enables the cell to cool down rapidly in extreme circumstances, effectively preventing abnormal thermal conduction among cells. Moreover, it has achieved thermal stability and thermal safety for all chemical systems, making it compatible with materials with higher energy density. From the material, cell to system structure, the systematic engineering mindset runs through the whole chain of research and development in CATL. Supported by the above-mentioned technological innovations, the CTP 3.0 battery can increase the energy density to 255Wh/kg for ternary battery systems, and 160Wh/kg for LFP battery systems. With the same chemical system and the same pack size, it can deliver 13% more power than the 4680 battery, accomplishing an all-round improvement in range, fast-charging, safety, service life, efficiency and low-temperature performance. The CTP 3.0 batteries, or Qilin, are expected to be mass produced and come on the market in 2023. From simulated computing in the micro world to artful streamlining inside the battery structure, CATL remains focused on technological ingenuity and independent innovation, aiming to promote the overtaking of fossil fuel vehicles by electric ones.

Read More

ECONOMY

Clean Energy Holdings, ING Americas, and Equix Kick-off 250 MW Green Hydrogen Alliance Project in Texas

ING Americas | May 21, 2022

ING Americas (ING) has been engaged by Clean Energy Holdings, LLC (CEH) as its financial advisor in respect of the financing of projects by the Renewable Energy and Technology Alliance (The Alliance) being assembled by CEH. ING brings multiple areas of expertise to CEH's Platform and projects including advisory services and leading the capital raising requirements for the project. Equix Inc., a well-established and highly respected infrastructure firm, is also joining The Alliance bringing industry leading execution experience including Engineering, Procurement, and Construction (EPC) in both renewable energy and hydrogen facilities. Bair Energy, LLC (BE) joins The Alliance as the Program Management Construction Management (PMCM) and serves as The Alliance Representative for the CEH Platform. The Alliance is working with an experienced commodities group to market and lead offtake negotiations for its projects. Clean Energy Holdings, ING Americas, and Equix Kick-off 250 MW Green Hydrogen Alliance Project in Texas ING will take the lead in securing project financing for CEH's 250 MW Clear Fork, TX renewable energy supplied green hydrogen and liquefaction project. As one of the largest and leading green hydrogen developments in North America, the project has a baseline schedule slated to enter commercial operations in the third quarter of 2024. The project is expected to produce a levelized average of 30,000 kg a day of liquefied green hydrogen. The CEH Platform is designed to attract leading edge and emerging technologies to integrate into our projects for validation and certification. "Our Alliance is leading energy transformation, and we are committed to continue to lead the North American market in the production and implementation of green hydrogen for industrial, chemical, and mobility applications. We are also driving technological advancements developed through our projects. We have assembled a group of industry leaders as well as local and state governments to navigate through the potential challenges as we deliver our projects from concept to delivery and provide turnkey projects with a complete basis for design. Our Alliance delivers on contract and safety, with guaranties. This project is a strategic priority for The Alliance to showcase its turnkey design, long term operations and production guaranties." -CEO of Clean Energy Holdings, Nicholas Bair "These early, large-scale, projects will help define the green hydrogen industry in North America. Our Alliance partners and advisors have been carefully selected as both best-in-class for their respective roles and dedication to make these projects a success." -CEH President, Cornelius Fitzgerald ABOUT CLEAN ENERGY HOLDINGS Clean Energy Holdings (CEH) is a renewable energy and technology platform focused on developing, owning, and operating leading edge, innovative and reliable renewable energy and low carbon facilities. CEH is a technology centric platform and, with our Alliance Partners, provides turnkey solutions for innovative projects like Clear Fork Green Hydrogen, the second Green Hydrogen project brought forward by CEH. Further, the CEH projects have been carefully selected to lead various State and Regional initiatives aimed to bring cost effective Green Hydrogen fuel to transportation corridors as well as industrial clients. ABOUT BAIR ENERGY BE is a Program Management and Construction Management (PMCM) firm with a focus on renewable energy projects in both domestic and select international markets. In its PMCM role, Bair Energy manages and coordinates platform concepts with viable projects to take advantage of benefits, like efficiencies of scale, not available to the projects individually. In addition, Bair Energy oversees construction of individual projects. In all roles, Bair Energy has embraced a philosophy for Health, Safety, and Environmental Excellence. ABOUT ING Americas ING Americas offers a full array of wholesale financial products, such as commercial lending, financial markets, corporate finance and advisory products and services in the U.S. to its corporate and institutional clients. We know being sustainable is not just about reducing our own impact, it's also in the choices we make—as a lender, in our financing, and through the services, we offer our customers. That's why sustainability is inherent to our purpose of empowering people to stay a step ahead in life and in business. ING Americas is the brand name of ING's corporate and institutional client business in the Americas region, operating in the U.S. through ING Financial Holdings Corporation and its subsidiaries ("IFH"). IFH is a subsidiary of ING Bank N.V., and a part of ING Group N.V. ("ING"). ABOUT EQUIX INC. Equix, Inc. is a private contracting firm that develops people and companies in the technical, professional, and construction services industries across North America. Focusing on utility and infrastructure projects offering full-service surveying, design, construction, and maintenance services to the renewable energy, broadband, electric, heavy civil, pipeline, water, and wastewater markets. Equix employs over 1,250 team members across 27 corporate offices in 13 states. They are licensed to do business in over 30 states across all service offerings.

Read More