Why Green Hydrogen Struggles to Find Buyers

Power 101

Green hydrogen has emerged as a promising solution for achieving deep decarbonization across various industries. Despite its potential, the market for green hydrogen remains relatively underdeveloped, with only a handful of buyers actively committing to its use. This hesitancy can be traced back to several interconnected challenges, including high production costs, inadequate infrastructure, and uncertain regulatory environments. Here’s a detailed analysis of these barriers and their impact on the green hydrogen market. The High Cost…

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Genus Power subsidiary secures Rs 3,608.52 million smart metering orders

India, News

A wholly-owned subsidiary of Genus Power Infrastructures Ltd has received three orders totaling Rs 3,608.52 million for advanced metering infrastructure services (AMISPs). The contracts involve the design, supply, installation, and commissioning of approximately 4.26 million smart prepaid meters and system meters, including DT Meters, with energy accounting on a DBFOOT basis. Genus Power operates manufacturing plants in Jaipur, Haridwar, and Guwahati, with a combined annual capacity of over 10 million meters. With these new orders,…

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ACWA signs PPA for 60 MW Saguling floating solar project in Indonesia

Global, News

ACWA Power has signed a power purchase agreement (PPA) with PT Perusahaan Listrik Negara (PLN) for the 60 MW Saguling floating solar photovoltaic (PV) project in Indonesia. This project is part of PLN’s strategy to increase the share of renewables to 23% by 2025. The Saguling project, along with the Singkarak floating solar PV project, represents a combined investment of USD 105 million.

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Australia approves SunCable’s $13.5 billion solar project to export power to Singapore

Global, News

Australia has officially approved SunCable’s Australia-Asia Power Link (AAPowerLink), a $13.5 billion solar power project that will export renewable energy from the Northern Territory to Singapore via a 4,300 km undersea cable. The project has cleared a major milestone with approval under the Environment Protection and Biodiversity Conservation (EPBC) Act. Set to inject over AUD $20 billion into the Northern Territory’s economy, AAPowerLink is expected to create up to 14,300 jobs during peak construction and…

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Italy implements FER 2 Decree to boost innovative renewable energy projects

Global, News

On August 13, 2024, Italy’s Ministry of the Environment and Energy Security (MASE) implemented the FER 2 Decree, aimed at supporting innovative renewable energy plants with high generation costs and low environmental impact. The decree targets specific types of plants, including biogas and biomass plants with capacities up to 300 KW and 1,000 KW, respectively, as well as thermodynamic solar, offshore floating wind, and floating photovoltaic installations. These plants must meet stringent eligibility criteria, such…

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Ørsted cancels FlagshipOne hydrogen project despite strong H1 2024 results

Global, News

Danish renewable energy producer Ørsted has announced the cancellation of its FlagshipOne green hydrogen-to-methanol project, despite reporting increased operating profits for the first half (H1) of 2024. Operating profit for Ørsted reached DKr14.1 billion in H1 2024, up from DKr10.2 billion in the same period of 2023. The company’s interim report, released on 15 August, highlighted growth in earnings from offshore facilities and the commissioning of 2 gigawatts (GW) of renewable energy capacity. Group President…

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UK’s NDA awards £30 million in contracts for nuclear decommissioning research

Global, News

The UK’s Nuclear Decommissioning Authority (NDA) has awarded contracts worth a total of £30 million ($38.8 million) to initiate research into safer and more cost-effective methods for nuclear decommissioning. These contracts, awarded to more than 60 organizations, including nuclear companies, UK universities, national laboratories, and small and medium-sized enterprises, aim to address the challenges of decommissioning nuclear sites that were not originally designed with this process in mind. The funding will promote academic research in…

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OECD electricity production rises 3.7%, driven by solar power surge, renewable growth

Global, News

In May 2024, total net electricity production in the OECD reached 854.4 TWh, marking a 3.7% increase compared to the same month last year, according to the IEA Monthly Electricity Statistics. This growth was primarily driven by a strong increase in renewable energy generation, which rose by 6.6% year-on-year (y-o-y). Solar power saw the most significant growth, surging by 19.7% y-o-y, while wind power also contributed with a 5.8% y-o-y increase. Hydropower generation remained largely…

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CEA proposes draft regulations for cybersecurity in the power sector

India, News

The Central Electricity Authority (CEA) has proposed draft regulations titled “Draft Central Electricity Authority (Cybersecurity in Power Sector) Regulations 2024” to enhance cybersecurity across India’s power sector. The CEA is currently seeking public comments on these draft regulations. Key Proposals: Creation of CSRIT-Power: The draft regulations propose the establishment of a “Computer Security Incident Response Team (CSRIT) – Power” under the CEA. This entity will be responsible for collecting traffic data from all “responsible entities”…

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Foxconn plans Battery Energy Storage System unit in India, eyes expansion in EV segment

India, News

Taiwanese electronics giant Foxconn is planning to establish a Battery Energy Storage System (BESS) unit in India, according to Chairman Young Liu. With a focus on the electric vehicle (EV) sector, Foxconn is expanding its battery manufacturing business, having already set up its first plant in Taiwan. Liu mentioned that Foxconn’s information and communication technology segment has recently started operations in India. He also revealed discussions with Tamil Nadu’s industry minister regarding collaboration on BESS…