Tesla’s decision to build Gigafactory-4 – its first European factory for battery cells and e-vehicles – in German is expected to bring an “enormous boost” for the country's lagging shift to electric mobility. Economy minister Peter Altmaier called the surprise announcement by Tesla CEO Elon Musk a "milestone" for the production of battery cells production and the rollout of e-mobility.
Though green hydrogen is still more costly to produce than conventional sources, Wood Mackenzie expects it could reach parity by 2030 in Australia, Germany and Japan based on $30 per MWh for renewables. While technology is advancing, analysts see “considerable uncertainty” around hydrogen investment in Asia-Pacific.
German transmission grid operator TransnetBW has commissioned Siemens to build new switchgear in the 380 kilovolt (kV) Daxlanden substation in Karlsruhe, Baden-Württemberg. The order is priced in the low triple-digit millions range, and the commissioning of the turnkey solution will be completed by 2029.
The German government has come under pressure from climate lawyers to ban all fossil fuel projects from the list of those eligible for European Investment Bank (EIB) support. Luxemburg-based EIB deferred its decision to ban loans to fossil-fuel projects until mid-November after Germany had urged the bank to keep financing gas-fired power projects.
U.S. infrastructure firm AECOM has seen its full-year revenue rise to $20.2 billion, despite a 3% drop in earnings at its construction services segment. Completion of several combined-cycle power plants in the fourth quarter was not replaced by new orders, as AECOM said it “decided to extract itself from the fixed-priced power plant market.”
Deep disparities between well-supplied oil and gas markets, growing emissions and the insufficiency of stated policies to curb those emissions are the key theme of the 2019 World Energy Outlook (WEO), published by the International Energy Agency (IEA) today. However, critics the IEA is “underplaying the speed” at which the world could switch to green energy.
South Korea’s construction conglomerate HDC Group has teamed up with Hanwha Energy to develop an LNG-fuelled power station in Tongyeong, some 330 kilometers south of Seoul. Under the deal, Hanwha will guarantee the LNG supply for the 1,012 MW combined-cycle power plant that is due operational in 2024.
Siemens has been contracted by Vietnam’s Hiep Phuoc Power Co. to convert the customer’s steam power unit in Ho Chi Minh City to combined-cycle mode. The upgraded plant will run on regasified LNG, instead of oil, and see its capacity boosted from 780 MW to nearly 1,200 MW.
The Canadian power producer ENMAX has asked GE to upgrade and hybridize an LM6000 gas turbine at the Crossfield Energy Center in Alberta. Coupled with GE’s battery energy storage system (BESS) and hybrid controls, the turbine will supply backup energy starting from the third quarter of 2020.
Siemens has launches its new Grid Diagnostic Suite at the European Utility Week (EUW) in Paris today, helping grid operators cope with new challenges from the expansion of e-mobility and increasing infeed of volatile generating capacity. Four cloud-based applications collect data from devices installed anywhere in the grid for better distribution automation and power quality.
Rolls-Royce’s power system unit and 2G Energy, German maker of gensets and cogeneration modules, have agreed to mutually supply gas-powered gensets. Under the deal, Rolls-Royce will buy 2G gensets in the 250-550 kilowatt range and re-sell them under its MTU brand, while 2G buys MTU Series 4000 generators in a range of 776 kW to 2,535 kW.
Japan’s machinery and electric equipment maker Toshiba is considering taking full control of two of its four listed subsidiaries, including Toshiba Plant Systems & Services and Nishishiba Electric. With Toshiba’s board is still discussing the matter, market observers expect a decision to be made in the coming weeks.
MAN Energy Solutions is providing a drink can factory of the Royal Can Making Company in Iraq with six MAN 18V32/40 CD engines, with a total capacity of 53 MW. The recently build power plant in Baghdad will supply power to the factory’s manufacturing site and other nearby industrial plants.
Sun-soaked Saudi Arabia is taking steps to use excess renewable energy to evolve into a global supplier of commercially competitive hydrogen. Mitsubishi Hitachi Power Systems (MHPS), developer of a large hydrogen gas turbine, says Saudi Giga-scale projects like NEOM can help the kingdom achieve its transformation to a ‘Hydrogen Society’.
State-owned Saudi Aramco, the world’s most valuable oil company, has disclosed details on the initial public offering (IPO) of at least 0.5% of its shares in December. In its IPO prospectus, Aramco said it strives to remain the world’s leading crude oil producer by volume and low cost, while boosting investment in natural gas upstream, LNG trading and green energy.