Global Scans · Energy · Weekly Summary

• [New] Technology group Wartsila has begun testing its thermal balancing engines using pure hydrogen and expects to have an engine and power plant concept capable of running on 100% hydrogen by 2025, enabling the transition to decarbonised energy systems around the world. Robin Whitlock
• [New] The energy transition is failing and policymakers should abandon the fantasy of phasing out oil and gas, as demand for fossil fuels is expected to continue to grow in the coming years. Stop These things
• [New] Ireland set out key climate targets in its Climate Action Plan in 2021, with a goal of a 51% reduction in greenhouse gas emissions by 2030, and net zero by 2050. European Climate, Infrastructure and Environment Executive Agency
• [New] Rising climate impacts threaten Ireland's water, energy sources, and infrastructure, notably in communities in remote areas. European Climate, Infrastructure and Environment Executive Agency
• [New] Albanese points to the US Inflation Reduction Act which will direct US$ 400 billion ($605 billion) in federal funding to support clean energy and the US CHIPS Act which will direct $280 billion ($422 billion) in new funding to boost research and manufacturing of semiconductors. SmartCompany
• [New] Achieving net zero carbon emissions by 2050 is a daunting challenge, and will require a significant expansion of clean energy sources, including nuclear power. Mirage News
• [New] Germany's industrial base will have been helped by the fact that the price of natural gas in Europe has remained around its post-Ukraine invasion lows following a mild winter. Investec
• [New] While renewable energy sources gain prominence globally oil and gas will continue to play a role, as an energy source thereby fuelling demand for OCTG to sustain exploration endeavours. Virtue Market Research
• [New] The United States has set a goal of installing 15 gigawatts of floating offshore wind capacity by 2035 - enough to power more than 5 million homes - to help displace fossil fuel for power generation and fight climate change. Yahoo Finance
• [New] The eclipse will partially block sunlight to facilities with a combined 84.8 GW of capacity in an even larger swath of the United States around peak solar generating time. EIA - Energy Information Administration
• [New] Maryland now has a goal of 8.5 gigawatts of offshore wind, which will be enough to power 3 million homes, of Maryland homes, alone in that, and turn us into a net exporter of clean energy, and not just a net importer. The Washington Post
• [New] Delivered costs for hydrogen produced via methane pyrolysis at a 300 tonnes per day scale can potentially be as low as $ 3.61/kg by 2030, and with carbon revenues, be even lower than the forecasted 2030 incumbent fossil fuels in B.C., inclusive of carbon tax. B.C. Centre for Innovation and Clean Energy
• [New] Delivered costs for hydrogen produced via methane pyrolysis at scale could be lower than the forecasted 2030 fossil fuel costs in B.C. Yahoo Finance
• [New] Renewable energy is set to generate nearly 25% of American electricity in 2024; by 2030, the US could see up to 850 gigawatts of new utility-scale solar, wind, and storage installations, driven by increased federal funding and tax incentives. Gilmore
• [New] By 2030, the EU plans for the installation of 40 gigawatts of electrolysers capacity to produce up to 10 million tons of green hydrogen. MDPI
• [New] The following month, Next Hydrogen unveiled a MoU with GE Vernova's Power Conversion business that envisages the integration of its electrolysis technology with GE Vernova's power systems offerings to produce green hydrogen. Renewablesnow.com
• [New] BMW has announced its intention to use Green Steel (from Swedish steel manufacturer, H2 Green Group) in its cars, aiming to reduce up to 95% of its greenhouse gas emissions by 2025. Hfw
• [New] The opportunity to produce Green Hydrogen through renewable electrolysis of water is emerging throughout Australia as we develop and increase renewable energy capacity (predominantly via solar and wind). Hfw
• [New] Floating Offshore Wind Shot, taking into consideration national circumstances, to accelerate breakthroughs across engineering, manufacturing, and other innovation areas that dramatically reduce the cost of floating offshore wind in deep waters by 2035. The White House
• [New] Floating Offshore Wind Shot, which aims to reduce the cost of floating offshore wind in deep waters by more than 70% and reach 1 5GW of U.S. domestic deployment by 2035. The White House
• [New] Zurich Insurance Group AG will no longer underwrite new oil and gas projects, and is cracking down on clients planning to expand in coal mining for the steel industry. Extinction Rebellion UK
• [New] Digitalization will contribute to the European Green Deal and a Europe fit for the digital age policy initiatives and support the objectives of the Energy Union by promoting connectivity, operability and use of renewable energy. European Climate, Infrastructure and Environment Executive Agency

Last updated: 14 April 2024