Daily News

Saudi Arabia’s ACWA Power, a leading developer, investor and operator of power and water assets, has signed a cooperation agreement with Natixis Corporate & Investment Banking to advance regional clean energy and hydrogen projects. Natixis CIB’s objective is to finance approximately US$2 billion over two years of ACWA Power’s future project pipeline.

Most of the money put into so-called sustainable exchange-traded funds (ETFs) in Germany is not invested in projects that differ significantly from conventional investment funds. “The big promise of many green funds to do good for other people and the environment often does not amount to more than greenwashing,” said Magdalen Senn of the NGO ‘Finanzwende’.

Wärtsilä has been contracted to supply an 8 MW/32MWh energy storage to Colbun who will co-locate the system with its 230 MW Diego de Almargo solar PV facility in Chile’s Atacama region – well-known for its solar radiation. The energy storage unit will be provided on an engineering and equipment delivery (EEQ) basis, due operational in Q4-2022.

Electrification and green energy policies are changing market dynamics. Larger utilities, traditionally focussed on centralized assets, start to embrace hybrid systems with energy storage, e-mobility and smart/digital offerings as the system needs more flexibility, analysts say – though the value in generation is still bigger on a US dollar basis.

Legislations has been passed in the Australian state of New South Wales (NSW) that allows to feed blends of hydrogen and biomethane into the natural gas pipeline network. The aim is to have a 10% hydrogen blend in the gas grid by 2030, and export substantial amounts of green hydrogen to power producers in Japan and wider Asia.

Inclusion of international carbon trading in Article 6 of the Paris Rulebook at COP26 could see the market’s value surge from US1 billion in 2021 to nearly US$200 billion in 2050. “The elimination of double-counting makes decarbonization real,” Wood Mackenzie’s research director Elena Belleti said, suggesting this will attract financing for “real emission reduction.”

Hydrogen-ready solid oxide fuel cells (SOFCs) are being introduced to the British wholesale power market by Bloom Energy, Conrad Energy and Electricity North West. The trio agreed to jointly develop, build and operate behind-the-meter (Btm) projects to bring Bloom’s SOFC platform to UK with first orders hoped to materialise in December 2021.

Ansaldo Energia has begun construction works on a project aimed at improving the efficiency of the EP Produzione combined-cycle gas turbine (CCGT) in Tavazzano and Montanaso, in Italy’s Lodi province. The new 800 MW CCGT unit is scheduled to start up on November 1, 2023. 

Comisión Federal de Electricidad (CFE), Mexico’s state-owned electricity utility, has ordered two multi-fuel power plants with a combined output of 600 MW from Wärtsilä. The projects will be delivered on a full EPC-basis and are to be completed in phases during 2022 and 2023.

The government of South Korea is working towards turning hydrogen into the country’s biggest energy source by 2050 by expanding H2-based power generation, and replacing all fossil fuel used by the steel and chemical industries with blue or green hydrogen. To tackle transport emissions, over 2,000 hydrogen charging stations will be installed nationwide.

South Korea’s Hyundai Heavy’s refining unit Hyundai Oilbank has agreed to import liquefied petroleum gas (LPG) from Saudi Aramco to produce blue hydrogen, made through steam methane reforming with subsequent carbon capture. This blue H2 will be sold as a fuel to Korean power generators.

CSOP, the first offshore asset manager in China, has listed its WTI Crude Oil Futures Daily (-1x) inverse product on the Hong Kong Stock Exchange today. The financial instrument, mainly invested in WTI future contracts and swaps, already attracted US$5.6 million initial investment.

Gazprom has returned to a nine-month profit of 1,579.94 million Roubles (US$21.06m), up nearly fivefold from the 2020 period as the word’s recovery from the pandemic caused an 18% jump in Russian gas exports to Europe and Asia, while prices more than doubled. The profit surge reversed Gazprom’s 2020 loss of 202,21 million Roubles.

Industry in South Africa is used to rolling blackouts and load-shedding due to a chronic lack of power generation infrastructure. But Absa Bank expects President Cyril Ramaphosa’s latest move to allow businesses produce up to 100 MW electricity without a generation license will unlock fresh investment in decentralized power plants, reducing reliance on state-run Eskom.

News in Brief

Ms Mulliez new chair of Siemens Energy’s audit committee

Dec 6 – Laurence Mulliez (55) has been appointed as new Chairwoman of the audit committee at Siemens Energy. Consisting of eight members, the audit committee is part of the company’s supervisory board and tasked with monitoring the accounting process, the internal control system, and audit of the company’s financial statements. 

INEOS digitalises Grangemonth terminal

Dec 3 – INEOS Forties Pipeline System (FPS) has announced plans to digitalise operations at Kinneil Terminal in Grangemouth. The AI-driven optimisations software will help lower emissions and streamline operations of the oil and gas receiving terminal in Scottish waters. The decision follows INEOS’ commitment to curb emissions from its operation at Grangemouth by more than 60% by 2030 as it targets Net Zero by 2045. 

Yokogawa, CCC launch new control system

Dec 2 – Tokyo-based Yokogawa Electric has entered a commercial agreement with Compressor Controls (CCC) to sell a new jointly developed solution. Named ‘CCC Inside for CENTUM VP’ and released on November 2, the device can control processes and turbomachinery at the same time. Under the deal, Yokogawa will supply hardware and software for the system while CCC will leverage its control algorithms, global engineering and technical support for turbomachinery.

Rolls-Royce extends runtimes for MTU engines

Dec 1 – Rolls-Royce has managed to significantly extend engine running times of up to 96,000 hours between overhauls (TBO) for the latest generation of its mtu Series 4000 engines. These engines can now run for up to 25 years before they need a major overhaul, depending on the duration and intensity of use.

SLNG and Linde Gas to develop CO2 liquefaction unit

Nov 30 – Singapore LNG (SLNG) and Linde Gas have teamed up to develop a carbon dioxide liquefaction and storage facility. A feasibility study is underway to build a CO2 liquefaction unit next to the SLNG Terminal on Jurong Island. SLNG chief executive Tan Soo Koong said the company’s objective is cold energy recovery with high efficiency, as well as effective liquefaction and storage to reduce CO2 emissions.

Oseberg upstream shifts from oil to gas

Nov 29 – Equinor has announced plans to invest 10 billion Norwegian crowns ($995M) to change the Oseberg field from primarily being an oil field to becoming a substantial natural gas producer with large remaining gas resources. Oseberg is the third-largest oil producing filed on the Norwegian Continental Shelf, and the operator has submitted and amended development plan to the energy ministry.

ABB, Metacon and Wärtsilä partner on hydrogen

Nov 26 – ABB, Wärtsilä, Metacon affiliate Helbio, and the classification society RINA are jointly working on delivering a power solution for marine application that is fuelled by hydrogen. The aim is to have a scalable solution that will exceed the IMO 2050 target for a 70% reduction in carbon intensity without the need for extensive investment in new infrastructure. Wärtsilä gas engines can already run on a mix of hydrogen and LNG, and the company strives run them 100% on hydrogen fuel in the near future.

Wärtsilä enters Belgian energy storage market

Nov 25 – Wärtsilä has been contracted to supply a 25 MW / 100 MWh energy storage system to a Belgium customer, marking its entry into the Belgian energy storage market. The order was booked to Wärtsilä’s order intake in October 2021, and the system is scheduled to start operating in the fourth quarter of 2022.

Triveni agrees with GEAE Tech to manufacture LM2500 turbine in India

Nov 25 – Triveni Engineering & Industries has signed a 10-year accord with GEAE Technology USA to produce the LM2500 gas turbine base and enclosure locally in India. The turbine is the chosen propulsion equipment for many surface combatant vessels of the Indian Navy.

Wärtsilä launches lighter IQ-Series scrubber

Nov 24 – Wärtsilä has launched a new IQ Series exhaust gas treatment system, designed by its Exhaust Treatment business unit in Moss, Norway. Designed with a smaller footprint, the new scrubber takes up 25% less space, is 30% lighter, and has 35% less volume which makes it particularly adapt for use on container ships, but also for stationary engines.

Afreximbank signs loan for Aba IPP in Nigeria

Nov 23 – African Export-Import Bank (Afreximbank) has signed a $50 million term loan facility for the Aba Integrated Power Project (IPP) in Nigeria, which comprises of a 141 MW gas-fired power plant and a 27-kilometer feeder pipeline and a distribution utility. Before greenlighting the loan, the bank advised projects sponsor Geometric Power on restructuring sol-called “gap capital” in the $332 million recapitalisation funds for the Aba IPP.

SiGreen tracks products’ emissions data

Nov 22 – Siemens has developed an ecosystem-based approach to calculate Product Carbon Footprint (PCF) with a with a view to track and reduce emissions. SiGreen helps exchange emission data along the supply-chain and combine it with data from a company’s own value creation to obtain a product’s true carbon footprint.

ELGi expands oil-free compressor series

Nov 19 – Belgium-based ELGi Compressors Europe has marketed introduced four new air compressors, the AB11, AB15, AB18 and AB22 that expand the company’s AB Series portfolio, ranging from 11KW to 110KW. The new the AB11-22 range helps customers optimize moisture separation, cooling and capacity control which directly translates into savings on electricity use.

Double-digit growth seen for GT market

Nov 18 – The market for gas turbines (GT) is forecast to witness a double-digit growth between 2021 and 2028, according to Global Market Vision projections. Leading manufacturers surveyed in the consultancy’s latest report include Doosan, Mitsubishi, MJB International, Siemens, GE, PW Power Systems, Solar Turbines, Dresser-Rand, Kawasaki, MAN Diesel & Turbo, OPRA Technologies, MTU Aero Engines, Wood Group and Chromalloy Gas Turbine.

Gazprom aims to increase contractual supply to VNG

Nov 17 – Russia’s Gazprom is in negotiations with VNG, one of Germany’s largest gas importers, to extending long-term gas supply contracts and “increase the supply volume thereunder.” Leipzig-based VNG imports and stores Russian gas in Germany’s eastern states and Berlin, and together with Gazprom it is building the Katharina underground gas storage (UGS) project with a design capacity of 650 million cubic meters (mmcm) of working gas volume and 26 mmcm daily withdrawal rate. The Katharina UGS is due completed in 2025.

Eaton offers IFPM73 fluid purifier with higher flow rate

Nov 15 – The Filtration Division of energy management company Eaton has added a higher volume flow rate system to its IFPM series of PLC-controlled, mobile, off-line fluid purifiers. Complementing the IFPM 33, which has a flow rate of 8 gpm (30 l/min), the new IFPM 73 has over double the flow rate of 20 gpm (70 l/min) for purifying oils and gas liquids stored in large tanks and reservoirs. 

General Fusion sets up new base in Tennessee

Nov 12 – General Fusion has set up a new operations base in Oak Ridge, Tennessee, as it seeks to commercialize fuson technology in collaboration with national laboratories, universities, and the U.S. government. This expansion will create up to 50  technical jobs.