Demand from Asia has pushed up shipments of hydrogen fuel cells beyond 1.1 GW and E4tech sees 2020 characterized by "rapid commercialization and infrastructure build out." Fuel cell vehicles and energy storage remain the largest demand drivers, with Japan’s Toyota and South Korea’s Hyundai accounting for two thirds of total shipped capacity.
Investment in energy access accelerates with nearly $2.1 billion corporate monies spent on off-grid power generation capacity between 2010 and 2019. However, this Capex might still not be enough to reach universal electricity access globally by 2030.
Plummeting oil prices impact U.S. fracking activities. With Brent crude oil prices seen average $43 a barrel in 2020, down from $64/bbl last year, the Government expects shale oil and gas output to decline. Spot gas prices at Henry Hub are forecast to rise starting from April, amid higher demand from the power sector, exceeding $2.2/MMBtu in the third quarter of 2020.
Mitsubishi Hitachi Power Systems (MHPS) has been contracted to supply two M501JAC power trains to the Intermountain Power Plant (IPP) in Delta, Utah, to enable a fuel switch from coal, to natural gas and to renewable hydrogen. The aim is run the 840 MW plant entirely on hydrogen by 2045.
Financials of Indonesia’s state utility PLN are burdened by excess electricity, notably on the Java-Bali grid, which could be oversupplied by 41.5% in 2020. PLN is facing mounting criticism that the ongoing construction of mega-projects is “unnecessary,” hence government targets to add 35 GW of new capacity by early 2020 have been pushed back to 2029/30.
Speed and scale is of the essence for new energy storage to solve intermittency issues of a renewables role-out. However, there's little political will for subsidies and critics doubt that markets alone can sufficiently reward both flexibility and storage. If not, EU member states will likely fall short of their 40% emission reduction target for 2030.
Greenidge Generation, a gas-fired power plant operated by Atlas Holding in upstate New York, is using ‘behind-the-meter’ electricity to mine the crypto-currency bitcoin. With 7,000 mining rigs, using 14 MW of on-site power, the plant can generate up to 5.5 bitcoins per day worth about $45,000.
German research minister Anja Karliczek is calling for a “clear schedule and a clear target” for a transition to green hydrogen, made with renewable energy. The minister dismissed blue hydrogen, made with natural gas using carbon capture and storage (CCS), as “a distraction.” Berlin will decide on a hydrogen strategy on March 18.
Guyana Power and Light (GPL) has awarded Wärtsilä an Engineering, Procurement and Construction (EPC) contract for a dual-fuel power plant at the Garden of Eden Generating Complex. The Wärtsilä 34DF engines will initially run on liquid fuel, and on natural gas when that fuel becomes available.
German utility Uniper has lifted its full-year earnings outlook in reaction to the recent revival of the UK capacity market programme which compensates power producers for dispatching plants at short notice. Uniper, subject to a takeover bid from Fortum, said today it aims to achieve up to €950 million in EBIT, lifting targets from initially €850 million.
Crude oil prices have edged up some 10 percent and natural gas prices start to stabilize in reaction to President Trump’s promise of a “major” economic relief package to cushion the impact of the coronavirus crisis. Oil prices plunged nearly 30 percent yesterday after Saudi Arabia decided to flood the market with cheap fuel to recapture market share.
The International Energy Agency (IEA) has modeled how oil and gas demand could evolve, dependent on contingency measures against the coronavirus. In a more pessimistic low case, global measures fail to contain the virus and oil demand falls by 730,000 barrels a day worldwide in 2020.