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PEI Connect: Time to put nuclear back in Europe’s energy toolbox?

European industry is calling for greater emphasis on nuclear power in the face of a gas crunch and stringent emissions targets.
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This article was originally published by Power Engineering International

PEi Connect provides a brief look at what got our attention during the week (7 Oct-14 Oct), and first up we consider that European industry is calling for greater emphasis on nuclear power in the face of a gas crunch and stringent emissions targets.

Spotlight on nuclear

Image credit: esi-africa.com

As Europe faces an energy crisis, a group of professionals have focused attention on the situation in Germany – a country that led the shift away from nuclear and fossil fuels through its EnergieWende movement.

A group of 25 writers, journalists, and intellectuals wrote in a joint letter, warning that dropping nuclear power would only increase the country’s carbon emissions, according to Euractive.

The contentious issue is being brought to the fore with an upcoming change in government and rising emissions targets in Europe.

Meanwhile, in response to rising energy prices across Europe, Brussels-based nuclear industry group, FORATOM, has published a communication criticising the European Commission for not paying closer attention to the role nuclear can play in mitigating the current energy crisis.

“As highlighted in the communication, the current price increases are being driven by higher natural gas prices on the global market”, states Yves Desbazeille, FORATOM Director General. “Therefore, the EU needs to already be putting solutions in place today to ensure that it is able to generate enough low-carbon electricity in Europe to meet growing demand. This means supporting the development of nuclear energy”.

Even French President Emmanuel Macron committed to nuclear power in his address announcing the ‘France 2030’ investment roadmap. “To produce energy, especially electricity, we are in luck,” Macron said. “The country’s nuclear power installation is already in place.”

Clearly, energy independence is a priority in Europe, as countries balance hefty emissions targets with increasing demand.

Image: Stock

Circular solar

Did you know: Solar panel waste in the United States may reach the weight of 30 Empire State Buildings, or 10 million metric tons, by 2050 (according to the National Renewable Energy Laboratory).

This statistic was quoted in PV Magazine, which recently covered the launch of SolarRecyle.org, a site dedicated to supporting the flow of information to enable greater rates of solar panel reuse and recycling.

SolarRecycle said it aims to drive the solar panel recycling economy by connecting asset owners, operations and maintenance providers, and other players with recycling vendors.

Image credit: CalWave

California dives into wave energy

On 16 September 2021, the CalWave system was commissioned off the coast of San Diego.

This marks the beginning of California’s first at-sea, long-duration wave energy pilot operating fully submerged.

The CalWave x1™ system will be tested for six months to validate performance before heading out to the open ocean. Read more and view the project pictures.

Speaking of wave power… even Tasmania’s grid is benefitting from wave power.

You can learn more about the wave energy being fed into Hydro Tasmania’s electrical network by watching the video below.

Connect with us next week for another selection of interesting sector news.

Until then, take care, stay safe and power on.

The PEi Ed team ????

The post PEI Connect: Time to put nuclear back in Europe’s energy toolbox? appeared first on Power Engineering International.

Author: Pamela Largue

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The UK records a 1.1GW increase in renewable PPAs

According to Cornwall Insight’s ‘Renewable PPA market share report’, the market for renewable PPAs is showing increased capacity despite challenges…

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According to Cornwall Insight’s ‘Renewable PPA market share report’, the market for renewable PPAs is showing increased capacity despite challenges in the sector.

In fact, Cornwall Insight assessed a total of 30,710 MW of renewable PPA capacity, a 1,190MW increase from the company’s previous report, which assessed capacity as of September 2020.

Below is a graph that highlights the publicly announced capacity since August 2019. It also shows that the majority of this new capacity came from projects commissioning under the Contracts for Difference (CfD) scheme. As of March 2021, Cornwall Insight identified 905 MW of active CfD capacity signed to a PPA, with a further 3.7 GW of capacity signed to PPAs but not yet operational.

Lee Drummee, Analyst at Cornwall Insight, said: “Corporate Power Purchase Agreements (CPPA) have been increasing in recent years as the market matures and generators seek alternative routes to market to use subsidies. In addition, since the Renewables Obligation and Feed-in Tariff schemes closed to new capacity there has been a gap in the market for generators outside of the CfD, with CPPAs becoming increasingly crucial for generators looking to secure revenues for projects. Similarly, CPPAs have become an effective way for businesses to prove their green credentials.

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“The majority of CPPAs that we have identified have been signed with new-build subsidy-free projects, with solar PV and wind the preferred technologies akin to a more positive attitude from the public towards these asset types, as well as their levelised cost advantages.

“The length of CPPAs analysed in the report varies considerably, ranging between 4 and 25 years, with the most common deal lengths being 10 and 15 years. The longer-term deals tend to be signed with new build projects, needing greater revenue security to develop.

“While subsidy-free PPAs have been more common with corporate buyers, subsidy-free deals between utilities and generators have gained traction. Since we actively began to track these deals in August 2019, we have identified PPAs for 3.8GW of new build capacity. Whilst the vast majority (2.5GW) is with CfD assets. Large portions are also made up of subsidy-free CPPAs (890MW) and subsidy-free utility PPAs (420MW). Over the same timeframe, approximately 2.1GW of existing assets signed new PPA deals, with 1.9GW being signed with a utility offtaker and just 120MW purchased by a corporate buyer.

“While liquidity in the long-term PPA market seems to have improved, right now, developers will be weighing up their options between CfD Allocation Round 4 and alternative routes to market such as utility PPAs and CPPAs.

“Away from PPAs for new build assets, we noted that activity in the short-term PPA market has been buoyed by the continued rise in power prices with competition levels remaining high. However, recently levels of volatility in the wholesale market are creating a different set of challenges, often making fixed priced deals more challenging to offer.”

The post The UK records a 1.1GW increase in renewable PPAs appeared first on Power Engineering International.

Author: nicholasnhede

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Burundi’s first grid-connected solar farm reaches commercial operation

A pioneering 7.5MW solar PV plant has reached commercial operation in Burundi, increasing the country’s generation capacity by over 10%.
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A pioneering 7.5MW solar PV plant has reached commercial operation in Burundi, increasing the country’s generation capacity by over 10%.

It’s the country’s first substantial energy generation project to go online in over three decades, supplying clean power to tens of thousands of homes and businesses.

The plant near the village of Mubuga supports international efforts to increase renewables and climate finance, especially for the world’s most vulnerable communities.

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UK Minister for Energy, Clean Growth and Climate Change, Greg Hands, said: “Today’s launch of Burundi’s first grid-connected solar farm will light up the nation’s energy system. It will strengthen the national grid supply and propel forward a promising future for the country in clean, green energy.

“Set to increase Burundi’s power generation capacity by 10%, this pioneering project, backed by UK government funding, is a fantastic example of countries working together ahead of COP26. Investing in a green future benefits the economy and the planet.”

The six-year process of building the solar plant was led by energy developer and independent power producer Gigawatt Global.

Financing for the construction of the project was provided via a consortium including pan-African private equity investor Inspired Evolution, the UK government-funded Renewable Energy Performance Platform (REPP – managed by Camco Clean Energy), and Gigawatt Global.

The construction loans are being refinanced by the US International Development Finance Corporation (DFC).

Additional support for the project was provided directly and indirectly from the Energy and Environment Partnership (EEP – a fund set up by Finland, the UK and Austria), the Belgian Investment Company for Developing Countries (BIO), Trinity International has advised the Gigawatt Global and Inspired Evolution equity teams since 2017. Engineering, procurement and construction services were provided by French firm Voltalia, and political risk re-insurance is provided by DFC.

Gigawatt and Voltalia Teams. Image credit: Gigawatt Global

Gigawatt Global CEO Josef Abramowitz said: “We thank our impact investors and strategic partners, as well as the Burundi government, for joining forces to accomplish this historic milestone on the road to climate justice and fulfilling many of the UN’s Sustainable Development Goals.”

Abramowitz, who was nominated by 12 African countries for the 2021 Nobel Peace Prize for his pioneering commitment to green energy access, continued: “Green energy projects that serve the most vulnerable communities should be prioritized by the international community.”

The Burundi field recently received the award for “Project of the Year” from EEP.

Gigawatt Global is also building a community centre powered by solar energy that will offer local access to productive use of electricity.

The centre will focus on community development through women’s empowerment and youth and employment programs, along with various educational components being developed with local and international NGOs.

The post Burundi’s first grid-connected solar farm reaches commercial operation appeared first on Power Engineering International.

Author: Pamela Largue

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Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths

Let’s get into it. Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective. It’s in an … Read More
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Let’s get into it.

Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective.

It’s in an uptrend. The moving averages are sloping up.

It’s shown us that when it wants to the market can get a hold of it – as evidenced by the fierce run from 1.5c to 6c at the start of this year.

 

Chart of the Day: Ionic Rare Earths (ASX:IXR)

There are no immediate gaps on the chart to worry about that need to be filled.

The company surpassed 4c resistance yesterday on increasing volume, which was a positive sign. However, after touching 4.5c in intra-day trade, it has now settled back to close at 4.2c, leaving a daily selling candle.

That infers that a test of 3.8 – 4c may be on the cards.

In our view that would make attractive buying.

Given the negative response to the scoping study in late April, there are plenty of immediate upside targets, the most immediate being 4.7c, with further potential to those March highs above 6c.

Back the other way, and we don’t need to hold this below 3.5c.

The company is well funded – reporting over $11m on balance sheet at their last quarterly – with an updated quarterly anticipated before the end of the month.

We are long as of yesterday, and will manage the trade to the above risk, looking for 4.7c first, with potential to above 6c if things go their way.

Steve Collette of Collette Capital Pty Ltd (ABN 56645766507) is a Corporate Authorised Representative (No. 1284431) of Sanlam Private Wealth (AFS License No. 337927), which only provides general advice.

Collette Capital only makes services available to professional and sophisticated investors as defined by the Corporations Act, Section (s)708(8)C and 761G(7)C.

The Collette Capital Wholesale IMA Strategy has returned +24.83% p.a. net of all fees as at the end of September 2021 since inception in January 2015 (using the Time Weighted Return method of calculating returns).

Learn more at www.collette.capital

The post Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths appeared first on Stockhead.


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