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World’s Biggest Battery In California Overheats, Shuts Down

World’s Biggest Battery In California Overheats, Shuts Down

Authored by Daniel Khmelev via The Epoch Times,

An “overheating incident”…

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This article was originally published by Zero Hedge

World’s Biggest Battery In California Overheats, Shuts Down

Authored by Daniel Khmelev via The Epoch Times,

An “overheating incident” at the world’s biggest grid battery in California on Sept. 4 forced three quarters of the station to power down until further notice.

South of San Francisco, the largest-of-its-kind Moss Landing energy storage facility recently grew from 300 to 400 megawatts (MW), with the ability to output for four hours.

But after a limited number of modules reached operationally unsafe temperatures on Sept. 4, safety mechanisms triggered sprinklers that targeted the affected modules, resulting in the facility’s primary 300-MW section to shut off entirely.

The overheating came as the state experienced a sweltering 100 degrees Fahrenheit heatwave over the Labor Day weekend.

The North County Fire Protection District of Monterey County was called to the scene as a precaution. No injuries were sustained.

The newly built 100-MW portion of the power station located in a separate building remained functional.

On Sept. 7, Vistro, the owner, and battery manufacturer LG Energy Solution began investigations into the root cause of the incident.

“The teams are in the early stages of this investigation and expect that it will take some time to fully assess the extent of the damage before developing a plan to safely repair and return the battery system to operation,” Vistro said in a media statement.

Difficulties in managing battery fires mean that big battery facilities require obsequious temperature monitoring and management.

This was illustrated last month in Australia after firefighters were unable to control a fire at the country’s largest grid battery, which burnt for close to four days.

A fire at the Victoria Big Battery in Moorabool near Melbourne in Victoria, Australia, on July 30, 2021. (Fire Rescue Victoria)

Local fire authorities said at the time that the nature of the fire meant it was extremely difficult to extinguish using conventional methods.

“They are difficult to fight because you can’t put water on the megapacks … all that does is extend the length of time that the fire burns for,” the spokesman said.

“The recommended process is you cool everything around it so the fire can’t spread, and you let it burn out.”

The 400 MW capacity of the Moss Landing grid battery is part of state efforts to meet the energy storage legislation AB 2514 passed in 2013, which requires utilities to build 1,325 MW of operational energy storage capacity by 2024.

The state’s transition toward greater renewable energy capacity had previously led California’s energy officials to ask for additional power capacity due to reliability concerns for the months of July and August.

“California is using all available tools to increase electricity reliability this summer,” officials said, citing “unprecedented heat events, which are occurring throughout the West in combination with drought conditions that reduce hydroelectric capacity.”

Tyler Durden
Wed, 09/15/2021 – 20:20

Author: Tyler Durden

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Energy & Critical Metals

LG Companies to Pay $918M Over Chevy Bolt Fires, Resume Plans for IPO Before Year-End

LG Chem has come to an agreement with General Motors (NYSE: GM) to cover the cost of the Bolt battery
The post LG Companies to Pay $918M Over Chevy Bolt…

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LG Chem has come to an agreement with General Motors (NYSE: GM) to cover the cost of the Bolt battery recall, as the automaker is forced to recall all Bolt EVs ever produced.

According to a company statement seen by Bloomberg, LG Energy Solution and LG Electronics Inc— both of which are owned by LG Chem Ltd and manufactured electric vehicle batteries for GM, have agreed to pay the automaker a combined 1.1 trillion won, or $918 million in costs related to the Chevy Bolt recall.

LG Energy is expected to pay about 620 billion won after fires started in about a dozen Bolts, prompting GM to issue a recall spanning across more than 100,000 vehicles. LG Electronics, which was responsible for packaging the cells produced by LG Energy into modules that were placed in the batteries, has also agreed to compensate GM 480 billion won in costs.

Including previous costs related to the recall that were disclosed during the companies’ second-quarter earnings, both companies are now responsible for coming up with a total of 1.4 trillion won related to the recall. Following the news, LG Electronics slumped by nearly 1% before paring back losses, while LG Chem jumped by over 4%.

On Tuesday, LG Energy also announced that it will resume plans to launch an IPO before the end of the year, after putting the original plans on hold after GM announced the recall. LG Energy was one of the largest EV battery manufacturers in the world between January and August, and according to a report cited by the Korea Times, the company’s valuation sits at around 100 trillion won, or $83.58 billion, with expectations that it could raise nearly 10 trillion won during during the IPO.


Information for this briefing was found via Bloomberg and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post LG Companies to Pay $918M Over Chevy Bolt Fires, Resume Plans for IPO Before Year-End appeared first on the deep dive.


Author: Hermina Paull

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India Deploys Advanced Anti-Aircraft Guns In High Altitude Border Standoff With China

India Deploys Advanced Anti-Aircraft Guns In High Altitude Border Standoff With China

Two weeks ago the Chinese and Indian militaries announced…

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India Deploys Advanced Anti-Aircraft Guns In High Altitude Border Standoff With China

Two weeks ago the Chinese and Indian militaries announced that the latest round of peace talks amid the 17-month standoff along the Line of Actual Control (LAC) separating India from China have failed. The 13th round of talks collapsed after China accused the India side with issuing “unrealistic and unreasonable” demands.

The Indian Army has within the past days announced the fresh deployment of batteries of upgraded anti-aircraft guns along the contested border. The region has witnessed a build-up of many thousands of troops on either side especially since the Ladakh Galwan Valley clash which occurred in June 15-16, 2020 – and resulted in the deaths of 20 Indian soldiers, and an unknown number of Chinese PLA casualties.

Indian Army artillery unit

Identified in military statements as L-70 anti-aircraft guns, it appears in response to China operating jet fight fighters out of multiple high-altitude airbases in the region, including deploying from small civilian airports and developing airstrips in the Tibet Autonomous Region. The legacy guns were specifically outfitted and upgraded for that purpose, and have an estimated range of 3.5km, firing at 300 rounds per minute.

The Independent detailed that “New Delhi has deployed modern Ultra Light Howitzer M777 artillery guns along with its vintage, but now-upgraded L-70 Bofors artillery guns at its eastern border along the Line of Actual Control (LAC).” It’s rare to be able to deploy an artillery unit to at least 15,000 feet above sea level, given especially the extreme logistics required. 

According to Indian Army Air Defense spokesperson Capt. Sarya Abbasi of the Army Air Defense, the new guns will integrate with ground forces to provide high-tech advanced targeting of any inbound aerial threat. “The guns can bring down all unmanned aerial vehicles, unmanned combat aerial vehicles, attack helicopters and modern aircraft,” the captain said.

“The gun has enhanced target acquisition and automatic target tracking capability under all weather conditions with high-resolution electro-optical sensors comprising a daylight television camera, a thermal imaging camera and a laser-range finder,” the statement noted.

L-70, Image source Indian Defence Research Wing

Further, “The gun is also equipped with a Muzzle Velocity Radar for enhancing the accuracy of fire. The gun has the ability to be integrated with tactical and fire control radars which give it more flexibility in its deployment.”

Military analysis news sources have indicated recent tests of the antiaircraft gun in September, wherein the upgraded L-70 intercepted a half-meter wide small drone. 

Tyler Durden
Sat, 10/23/2021 – 17:00

Author: Tyler Durden

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Trident Royalties should benefit from the Thacker Pass resource upgrade

 
Trident Royalties (TRR.L) still seems to be flying a bit under the radar but over the course of the past fifteen months, the company has acquired some…

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Trident Royalties (TRR.L) still seems to be flying a bit under the radar but over the course of the past fifteen months, the company has acquired some interesting royalties on non-precious metals deposits. One of the key assets in the portfolio is the 60% ownership in an 8% gross revenue royalty (4.8% attributable to Trident).

Thacker Pass is operated by Lithium Americas which wants to bring the project into production in the next few years. Ahead of the development of the mine, Lithium Americas has released an updated resource estimate on Thacker Pass, which now contains 13.7 million tonnes of LCE in the measured and indicated resource categories and an additional 4.4 million tonnes of contained LCE in the inferred resource category (at a respective grade of 2,231 ppm and 2,112 ppm lithium). The results of this resource update allow Lithium Americas to investigate a production scenario of 40,000 tonnes of LCE per year followed by a Phase 2 expansion to 80,000 tonnes per year (up from 30,000 tonnes and 60,000 tonnes respectively).

As mentioned, Trident owns 60% of an 8% GRR but it’s very likely Lithium Americas will repurchase the GRR to the bare minimum, especially in the expanded production scenario as an 8% GRR would result in an annual royalty payment of over $64M at the current lithium prices. The image below shows the different clauses and conditions related to the royalty:

We should indeed assume Trident will end up with an attributable gross revenue royalty of 1.05% as it would make zero economic sense for Lithium Americas to forego the repurchase of the royalty. As it would only cost Lithium Americas US$22M to save about $38M per year in royalty payments at 40,000 tonnes per year and a LCE price of $15,000/t. This means Trident will likely receive US$13.2M in cash when Lithium Americas repurchases the royalty while the remaining 1.05% will bring in over $6M per year (again at 40,000 tonnes per year and a $15,000/t lithium price).

This makes the Thacker Pass royalty very valuable for Trident Royalties and as the Thacker Pass project gets derisked, the value of the royalty will increase towards a value that could likely be in excess of the current market cap of Trident.


Disclosure: The author has no position in Trident Royalties. Please read our disclaimer.

Author: CR Team

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