Spanish PM calls on EU to reconsider tariffs against Chinese EVs
The Spanish Prime Minister Pedro Sanchez stated on Wednesday that the European Union should reconsider its proposed import tariffs for Chinese-made electric cars, and urged Brussels to avoid a trade conflict. Sanchez's remarks during a trip to China indicate a shift in Spain's stance, which had previously supported the tariffs. He also expressed concern over the potential impact of the EU-China Trade Spat on Spanish industry. "I must be honest, we all have to rethink our position.
Hybrid vehicles give lifeline to Platinum Metals
In the next few years, a surge in hybrid car sales as the electric vehicle market slows will likely lead to an unexpected increase in demand for platinum group materials (PGMs), similar to what is predicted for coal's extended life. PGMs – primarily platinum and palladium – face a long-term decline in demand, as their primary use was to clean auto exhausts – a process not required in pure EVs. Few years ago, prospects for producers of PGMs such as Anglo Platinum Impala Platinum Sibanye Stillwater seemed grim…
Vattenfall, Swedish energy giants and other industry leaders join forces to invest in new energy sources
The companies announced on Tuesday that Sweden's largest utility Vattenfall will explore joint investments in new fossil free power production to meet the growing electricity demand as part of decarbonisation efforts. Vattenfall, along with Industrikraft, a group that includes Alfa Laval Boliden SKF Stora Enso, Boliden and the Volvo Group, is investigating how, when, and what investments they can make together. Borg stated that the annual Swedish power demand will double by 2045 from 140-150 Terawatt Hours (TWh)…
Alight and Swedish forest owner will partner up on 2 GW of solar
The firms announced on Monday that solar developer Alight has partnered with Sweden's largest forest owner Sveaskog in order to develop solar energy project totaling 2 gigawatts over a five-year period. Erik Brandsma said that investing in solar energy on Sveaskog's land was a natural move for the company as it is a large landowner. It also allows them to contribute to energy transition, and to future energy needs, without fossil fuels.
Digitalization is Drawing CCS a New Learning Curve
Digital solutions are accelerating the progress required to ensure CCS earns its place in climate change mitigation history.Carbon capture has been around since the 90s, but the behavior of CO2 in pipelines is still not that well understood. A lack of suitable multiphase flow assurance models has meant that past CCS projects have had to apply large, costly safety margins to transport and injection systems. Between 2020 and 2022…
Subsea Cable Installed on HiWave-5 Wave Energy Project
CorPower Ocean and Maersk Supply Service report the successful install of a 6.2km subsea export cable off the coast of northern Portugal to energise the flagship HiWave-5 Project.The 100-tonne cable was installed using the Maersk Achiever vessel and will provide power and data connection from an on-land substation in Aguçadoura to the wave energy demon-stration site 5.5km offshore.CorPower is now gearing up for the arrival of the C4 PTO (Power Take Off) system, which has completed a one-year dry test program in Sweden.
Battery-Electric Surge: ESS Scales Up in Maritime
Ask the right government department in any G7 state and you’ll find funding to put battery power for your vessel. Beyond funds, new battery makers and system integrators are ironing out safety issues, and a growing number of giga-sized cell factories offer hope that costs will fall for marine energy storage, as ESS choice grows. Efforts are also underway to recycle rare earth elements and to augment or greenify staggeringly high plant electricity inputs.
CorPower Ocean to Launch C4 Wave Energy Converter
CorPower Ocean will launch its next-generation C4 wave energy converter alongside its new ‘CorPack Concept’ providing the building blocks for future wave energy farms.The unveiling will happen in Stockholm, Sweden, on June 15. The new full-scale CorPower C4 device will be designed to form part of a four-system wave energy array, located off the coast of Aguçadoura, creating one of the world’s first grid-connected wave farms.“After a decade of development efforts…
When is a Cargo of Oil Certified "Carbon Neutral"? Ask Lundin Energy
Sweden's Lundin Energy has sold to Italian refiner Saras what it said is the world's first oil cargo certified as carbon neutral at the point of production, the two companies said on Monday.Oil companies are increasingly trying to market their products as cleaner in an effort to secure a future for the fossil fuel industry in a world where investors, activists and regulators are demanding action to halt climate change.While Lundin's crude from the Norwegian Edvard Grieg field was certified as carbon neutral from exploration…
CorPower Extends Equity Funding for Commercial Scale Demo
After securing a private placement of 9 million Euros, CorPower has extended its equity funding to 20.3 million Euros, for the commercial scale demonstration of its wave energy technology. The investment round was led by Midroc New Technology and included SEB Greentech VC, family offices and private investors. Pareto Securities acted as Sole Manager and Bookrunner in the transaction.The 9 million Euro investment combined…
$10.5m Funding for CorPower Wave Energy Tech
CorPower Ocean announced the award of $10.5m in new funding for it’s wave energy tech innovation, a funding round led by Midroc New Technology, with additional investment from ALMI Invest Greentech, EIT InnoEnergy and a group of private investors. CorPower Ocean’s Wave Energy Converters (WECs) are inspired by the pumping principles of the human heart. According to the company, advanced control technology allows large amounts of energy to be harvested using small…
Siemens Equipment for Pertamina's Balikpapan Refinery
Siemens Gas and Power will supply a range of compression and power generation equipment for the Petramina's Balikpapan Refinery located on Borneo Island in East Kalimantan, Indonesia.The equipment will be installed as part of Pertamina’s Refinery Development Master Plan (RDMP). The RDMP involves the construction of a residual fluid catalytic cracker (RFCC) unit with a design capacity of 90,000 barrels per stream per day (bpsd)…
Northern Offshore Services, SEA O.G Form CTV JV for U.S. Offshore Wind Space
Northern Offshore Services (N-O-S) and SEA O.G have entered into an agreement to provide marine services and CTV operations to the offshore wind industry in the United States.The partnership will combine the forces of N-O-S, the crew transfer vessel operator in Europe, and the offshore services provider, SEA O.G. Offshore.Northern Offshore Group, based in Sweden operates about 65 vessels in which most are crew transfer vessels.“SEA…
TRIG Buys Share in German Offshore Wind Farm
London-listed The Renewables Infrastructure Group (TRIG) said on Friday it has completed the acquisition of a 36% stake in a 396 megawatt (MW) offshore wind farm in the German North Sea.Commercial operations commenced in June 2019 at the Merkur wind farm and the project benefits from a feed-in tariff for the next 13 years.Dutch pension investor APG has acquired the remaining 64% in the project. Financial details were not…
Oil Traders Chase Storage Space in World Awash with Fuel
Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.Dozens of oil tanker vessels have been booked in recent days to store at least 30 million barrels of jet fuel, gasoline and diesel at sea, acting as floating storage, as on-land tanks are full or already booked…
Nordex Wind Energy Orders Top 6.2GW in 2019
The turbine manufacturing and installation company Nordex Group booked turbine orders totaling 6207MW in 2019, up 31% on the 4754MW in 2018.The German manufacturer secured deals with a combined capacity of 1477MW in the fourth quarter of last year, which was down on the 1679MW in the last three months of 2018.Overall, the Nordex Group received orders to deliver 1,616 wind turbines with a total output of 6,207 MW in 2019, representing a 31 percent increase on the previous year (2018: 4…
Shareholder base Expands on Fortum's Nordic Wind Portfolio
Finnish state-owned energy company Fortum and Credit Suisse Energy Infrastructure Partners (CSEIP) have today signed an agreement whereby funds advised by CSEIP will acquire an 80% stake in Fortum’s Nordic wind portfolio.Fortum will retain a 20% minority ownership in this wind power portfolio, continue to manage the construction, and serve as long-term asset manager for the wind portfolio.The portfolio consists of the operational Nygårdsfjellet (32 MW…
North Sea Countries to Boost Offshore Wind
Energy Ministers from North Seas countries met yesterday (December 04) in Brussels and agreed their 2020 Work Program on offshore wind deployment as a means of reaching climate neutrality by 2050.The 10 North Seas Energy Cooperation countries – Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway, Sweden and the UK – agreed at their Ministerial meeting in Esbjerg in June 2019 to broaden the scope of their cooperation.
3sun Bags Vattenfall Contract
UK-based wind energy installation and maintenance company 3sun Group has won Vattenfall contract to carry out statutory inspections across its offshore and onshore wind farms in five countries.The deal, which will result in the creation of up to 30 new jobs, will cover 50 onshore and offshore wind farms in the UK, Denmark, Germany, Netherlands and Sweden.3sun Group, which already employs 200 technicians, will carry out statutory…
Gasum on an Acquisition Spree
Finland-based integrated gas company Gasum takes steps forward in its growth strategy by acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG."These acquisitions will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport…
