In November 2022, the world’s population reached a new high of 8 billion from a humble 2.5 billion in 1950. The United Nations said that while it took 12 years for the figure to go from 7 billion to 8 billion, it is expected to increase by nearly 2 billion people in the next 30 years – 9.7 billion in 2050. 

As the world’s population grows, the concerns for climate change caused by traditional sources of fuel such as coal, oil and natural gas, are rising. Coastal areas are flooding, wildfires are raging and there is only limited time to combat global warming before the ramifications become permanent.

The scarcity of such resources is prompting people to invest in alternative sources of energy for the future – Renewable Energy. 

Environmental solicitude in terms of fossil fuels, economic growth in developing regions and swift urbanization, is paving the way for green energy to become one of the fastest-growing economic sectors in the last decade. 

According to a report by Statista, the global renewable energy market is expected to continue its upward trajectory in the coming years. 

Why Is Renewable Energy A Good Investment? 

Renewable energy is considered to be the way of the future. It is a way for people to change the consequences of climate change and not wait for others to fix the problem for us. The chance to aid the planet is a huge benefit but including renewable energy in your portfolio has more potential to offer. 

While traditional energy sources are experiencing volatility, investing in renewable energy is a force of stability. 

Sustainable clean energy is also enticing investors by becoming affordable. Solar energy and Wind energy are two of the fastest-growing energy sources in the world, and also the cheapest.

Previously, financial institutions had exploited loopholes to fund green energy ventures according to Guardian, by considering only green energy as money. 

The IEA’s Renewables 2022 report predicts a major shift at a time of significant volatility and geopolitical tension – renewables are proceeding to become the planet’s largest source of electricity generation by 2025, surpassing coal. 

“The first truly global energy crisis, triggered by the Russia-Ukraine conflict, has sparked unprecedented momentum for renewables.”

Amongst the green energy sector, IEA expects wind and solar photovoltaic energy to supply nearly 20 percent of the world’s power generation in 2027 whereas the growth in geothermal, hydropower and bioenergy is expected to stay limited despite their critical role in integrating wind and solar PV systems.

The amount of Greenhouse Gas (GHG) Emissions in the full life cycle of green energy projects is close to nil while the EPA recently concluded that 75 percent of the United States CO2 emissions emerge from traditional fuel combustion.

5 Best Renewable Energy Stocks To Invest In:

Biomass, Wind, Hydroelectric, Geothermal and Solar – the high potential renewable energy sources account for only 11 percent of consumption. It has become critical to diversify our supply chain and start making more investments in clean energy for a sustainable future. 

Many companies are experiencing an investment megatrend due to the favorable outlook of renewables. Global leaders have colluded to speed up the adoption of the technology and aid in the energy transition. 

In the last decade, by generating returns of 192 percent, renewable energy outperformed fossil fuel and continues to yield higher returns, corresponding to being less volatile as well. The market for renewable energy stocks looks promising and here are our recommendations for the best green energy investments one can make. These energy companies stand out from their competitors as the best stocks to buy in 2023.

Vestas Wind Systems:

Market Cap: $31.88 billion

Sector: Wind Energy

Founded in 1945, Vestas Wind Systems [CPH: VWS] is a Danish manufacturer and with 16 percent of its market, Vestas is the world’s largest wind turbine maker, present in 87 countries. Launched on the Copenhagen Stock Exchange in 1998, Vestas stock has grown 605 percent even after dropping 45 percent since January 2021 due to the Russia-Ukraine conflict. 

Divided into two businesses, namely turbine manufacturing and wind farms, Vestas has showcased its grit by delivering the best solutions for wind power than any other company. As the most in-demand clean energy solution, the company has also partnered with governments that are hoping to hasten the transition to renewables. 

With the unparalleled wind capacity of 154GW and incredible investments fueling the expansion of projects, Vestas stock downtrend appears to be short-term only. 

NextEra Energy:

Market Cap: $151.08 billion

Sector: Wind and Solar Energy

NextEra Energy [NYSE: NEE] is a diverse electric utility company founded in 1925. As one of the largest producers of solar and wind energy, NextEra generates power at its Florida utilities and sells power under PPAs to other utilities and users.

In 2022, the company unveiled its Real Zero Plan which aims to eliminate carbon emissions from its operations by 2045. With an objective to supersede natural gas in NextEra’s power plants with renewable natural gas and green hydrogen, the company has managed its financial flexibility by maintaining one of the best balance sheets in the utility sector. 

With an excellent track record of producing total returns of 1000 percent over the past 15 years, NextEra has powered its earnings per share at an 8.4 percent compound annual rate since 2005. The company anticipates delivering at least 10 percent annual dividend growth through 2024, already having earned its Dividend Aristocrat distinction for increasing its annual dividend for over 25 years, consecutively. 

Earnings are predicted to increase by nearly 6-8 percent of the annual target range by 2025, fuelled by continued investments. 

Clearway Energy:

Market Cap: $6.56 billion

Sector: Wind and Solar Energy

Deemed one of the leading owners of renewable energy facilities in the U.S, Clearway Energy is headquartered in San Francisco. Generating a steady cash flow through power-selling through PPAs, Clearway sold its thermal business in 2022 and gained $1.35 billion from cash proceeds to expand its renewable energy operations. 

Complementing its clean energy assets, the company has started to become more visible in its capability to increase its dividend. Clearway Energy continues to capitalize on newer renewable energy opportunities, expecting to hike its dividend towards an 8 percent annual target through 2026. 

Brookfield Renewable Partners:

Market Cap: $17.39 billion

Sector: Hydroelectric Power

As the global leader of hydroelectric power, Brookfield Renewable [TSE: BEP.UN; NYSE: BEP] has also been steadily soaring in its solar (utility and rooftop solar), wind (offshore and onshore) and energy storage operations. Utilizing long-term PPAs, the company has expansion to thank for its skyrocketing growth. 

Since its inception in 2011, Brookfield Renewable has generated total annual returns of 18 percent. The company’s assets include over 200 hydroelectric plants, wind farms, storage facilities and solar facilities with over 21GW power. With its headquarters in Toronto, Canada and extensive acquisitions in its pipeline, Brookfield Renewable sees immense growth ahead, estimated to be 20 percent through 2026. 

These projects will help hike the dividend between 5-9 percent annually. With fundamentals such as top-notch potential, strong management and attractive dividend yield, Brookfield sets the class apart from other green energy companies. 

SolarEdge Technologies:

Market Cap: $17.63 billion 

Sector: Solar Energy

An Israeli company established in 2006 in Delaware, SolarEdge Technologies [NASDAQ: SEDG] develops and sells battery energy storage products, solar inverters for photovoltaic arrays and other energy-related products to residential, industrial and commercial customers. 

The company has ventured into smart energy solutions with its core inverter business generating strong financials. The component of developing and manufacturing an optimized inverter system that maximizes power through solar panels. has helped SolarEdge Technologies to capitalize on the decarbonizing trend. 

Expanding into low-cost solutions, the company held nearly $1 billion in net cash in 2022. The stock achieved phenomenal success growth of 277.7 percent since 2015 making it the second-largest company in the solar sector. With a rich revenue percentage increase in the last 8 years, SolarEdge has leveraged its inverter expertise to strengthen rising sales, making it a good pick for a profit-driven investor. 

SolarEdge aims to address other market segments such as solar, uninterruptible power supplies (UPS), electric powertrains, grid service solutions, storage and electric vehicle charging through its acquisitions.

The post 5 Renewable Energy Company Stocks at the Forefront of the Energy Revolution appeared first on Industry Leaders Magazine.

While floating solar panels and wind energy projects have witnessed increased adoption, European aerospace giant Airbus has come up with a new way to harness solar energy – Solar power can be beamed from space to power up systems on Earth. Airbus demonstrated that the technique could work in its X-Works Innovation Factory.

Why do we need renewable energy?

Fossil fuels still account for almost 80% of energy production around the world. While clean energy is gaining ground, the transition is still a long way away.   

Renewable energy is being promoted by governments across the world as it is effective in reducing greenhouse gasses and reducing fossil fuel usage. To mitigate the impact of climate change, emissions must be reduced by half by 2030, and reach net zero by 2050. Brookfield even set up a Brookfield Global Transition Fund to advance net zero targets. 

The cost of electricity from solar power fell by 85% between 2010 and 2020. Governments are offering subsidies and tax benefits to encourage innovation in renewable energy as it will help decarbonize the planet, starting with the power sector.

The Solar Power Beam

Previously, studies have outlined how space-based solar power can be converted to microwaves that can be beamed on to Earth. Solar power beaming had until now only been a concept promoted by radar techs, who believed that solar power gathered in the arrays can be utilized for this technique.

During the demonstration, researchers transmitted the solar power beam from a distance of 36 m and used the reconverted energy to produce green hydrogen that was used to light up a model city. This solar power can be used to run factories, power homes, and eventually adapted for use in aircrafts.

The experiment was conducted on September 27 at Airbus’ X-Works Innovation Factory by Jean-Dominique Coste, Yoann Thueux, and their colleagues. They used microwave beaming and transmitted green energy between two points representing Space and Earth.

Although Airbus has not released the finer details of the experiment, Jean-Dominique Coste, Senior Manager at Airbus Blue Sky, who led the development, said “the underlying principle is quite simple. The potential for the technology is to capture sunlight and then beam it wirelessly.”

The advantages of collecting solar power in space are obvious, says Thueux: “Outside the Earth’s atmosphere, the sun’s light is available indefinitely, not just during the day and in good weather like on Earth, plus it’s about 50% more intense.”

Coste believes that wide-scale deployment of this technology will help Europe and other nations accelerate their move towards renewable energy. Currently, the team is reviewing a number of designs to see how it can be rolled out on a bigger scale. Thueux notes that if satellites started collecting solar power they would need to be two kilometers across to be able to achieve the same power level as a nuclear plant.

The technology can be modified to ensure that it does not hurt objects in the sky, including planes and birds. Coste also assures us that the solar power beams easily pass through clouds, which means power loss during transmission is minimal.  He estimates the costs for building this tech to be the same as large power plants, but would decrease if more plants are built. Another major advantage is that the solar power beam does not require any costly infrastructure on Earth like power plants, pipelines, or relay towers. Everything can be done by power beaming.

Airbus is looking to scale the system slowly — from the ground to aerial systems to space.

Adopting the solar power beam will significantly reduce dependency on fossil fuel-based sources and help nations become completely carbon neutral by 2050.

The post A Solar Power Beam Brings Renewable Energy into Focus appeared first on Industry Leaders Magazine.

Giving a boost to this approach is a Stanford study that claims that switching to renewable energy will prevent blackouts and help stabilize prices. The researchers studied 145 countries and mentioned that switching to clean energy and electrifying all energy sectors is a worthy investment as all upfront costs would be recovered in just six years.

Investing in Renewable Energy

The paper published in Renewable Energy, finds that an energy system running on wind, water, and solar coupled with storage will prevent blackouts, provide cost savings, and create new jobs.

The Stanford study was led by Professor Mark Z Jacobson, professor of civil and environmental engineering at Stanford University and director of its Atmosphere/Energy Program. At the start of the paper, he mentions that global warming, air pollution, and energy insecurity are the three greatest problems faced by humanity.

To tackle energy insecurity, it is necessary to turn to renewable energy by 2035. The researchers recommend switching to clean energy to save the environment. By operating a completely clean, renewable grid may create about 4.7 million long-term, full-time jobs across various energy sectors, much more than the ones that would be lost by shutting down fossil fuel-based companies. Many research groups examined 100% renewable energy systems in one or all energy sectors and found that it is capable of keeping the grid stable at low cost.

According to Jacobson, “We do not need miracle technologies to solve these problems. By electrifying all energy sectors; producing electricity from clean, renewable sources; creating heat, cold, and hydrogen from such electricity; storing electricity, heat, cold and hydrogen; expanding transmission; and shifting the time of some electricity use, we can create safe, cheap, and reliable energy everywhere.”

Benefits of Adopting Clean Energy

Jacobson added that by switching to clean energy, worldwide energy usage will go down by 56%. One of the reasons for this saving is that combustion-based energy systems require a lot of energy just to function.

By switching to a clean, renewable energy system, costs per energy unit is reduced by an average of 12%, which results in a 63% lower annual energy cost. It also improves the health of the people, as it cuts down on pollution. Cleaner air will save around 53,200 people from pollution-related deaths every year, along with $700 billion per year savings in health costs. In 2018, air pollution from fossil fuels costs the world $8 billion a day in health and economic costs.

The World Health Organization (WHO) states that poor air quality will result in over 13 million deaths per year.

The initial investment required to bring energy systems up-to-date in 145 countries, which produce 99.99% of the world’s carbon dioxide, can go as high as $62 trillion. But it is extremely beneficial to make the switch as every year, we will save at least $11 trillion. The initial investment and more can be fully recovered within six years.

 Professor Jacobson and his team recommend switching over to renewable energy by 2035 and no later than 2050. Prices for clean energy have dropped considerably as governments offer subsidies to promote renewable energy and reduce carbon emissions.

The UN has repeatedly urged world nations to work together to achieve net zero carbon emissions by 2050. The International Renewable Energy Agency (IRENA) estimates that 90% of the world’s electricity can and should come from renewable energy by 2050. Renewable energy also offers countries a way to diversify their economies and one that is less prone to market shocks.

The post Renewable Energy Investments Can Be Recovered Within Six Years appeared first on Industry Leaders Magazine.

Energy Crisis and the Non-renewable Energy Sources

There’s a global outcry as we are running out of fossil fuels, the only source of energy we relied upon for decades. Undoubtedly, this is high time that we look beyond the non-renewable energy sources on a war footing. Thanks to the tireless efforts by scientists, environmentalists and climate activists, we have managed to open up new horizons in the recent times, so far as the renewable energy movement is concerned. From the Finnish Sand Battery to the Swiss Water Battery, we have had some massive breakthroughs in the last one month. The dream streak of the renewable energy movement continues and now we have achieved another landmark in the form of the new BioLite BaseCharge Power Stations.

BioLite: Leading the Green Energy Revolution

Since its very inception in 2009, BioLite has been playing a pivotal role in the global green energy movement. Founded by Jonathan Cedar and Alec Drummond, the company can be called a pioneer in the green energy space for coming up with innovative smart green tools related to cooking, charging and lighting time and again. Its path-breaking journey was shaped by the iconic BioLite CampStove in a great deal. The out-of-the-box biomass stove, made up of wood and charcoal, used thermoelectric technology to generate a smokeless fire while allowing you to charge devices too!

The green energy-startup has won huge accolades for reaching out to the rural areas of Africa with its clean energy solutions. Introducing the new BioLite BaseCharge Power Stations, will surely facilitate its humanitarian work in the continent, to a great extent.

Biolite BaseCharge Power Stations Specifications

The lightweight power stations come with USB ports, standard 12-volt outlets and a larger power inverter with quite a few 120-volt outlets. Both the BioLite BaseCharge 600 and BioLite BaseCharge 1500 contain an easy-read smart LED dashboard that gives all the necessary data effortlessly. You would be able to track power input and usage, battery life, time until empty or full – everything that’s essential to keep tabs on. The BioLite BaseCharge 600 has an in-built 600-watt AC power inverter whereas the BioLite BaseCharge 1500 is equipped with a 1,200-watt AC inverter. They produce power surges up to 1,000 watts and 2,400 watts, respectively. The new Biolite BaseCharge Power Stations can be charged through the BioLite Solar Panel within a very short span of time (7 hours for the BioLite BaseCharge 600 and 13.5 hours in case of the BioLite BaseCharge 1500).

Biolite BaseCharge Power Stations Price

The new Biolite BaseCharge Power Stations are available and early-bird specials are there. The BioLite BaseCharge 600 and BioLite BaseCharge 1500 would cost you $699 and $1,699, respectively. You can place your order at www.bioliteenergy.com to get started with the sustainable way of leading a green life.

The post New Biolite Basecharge Power Stations Ushers Hope Amidst Energy Crisis appeared first on Industry Leaders Magazine.

Last December, the US President signed an executive order to make the federal government carbon neutral by 2050. In connection to this, in May 2022, the DOE announced that it will invest $38 million to decarbonize four of its national laboratories and aim to achieve net zero greenhouse gas emissions no later than 2050.

GE Gas Turbine Technology

The federal funding comes specifically from the ARPA-E OPEN 2021 program that supports technologies working towards a decarbonized energy system. If successful, the ARPA-E- funded research will be able to accomplish energy goals by bringing greater efficiency to existing systems and reducing the energy required to build turbines.

GE’s two projects are “lifted-flame combustion for high-hydrogen reheat gas turbines” and “manufacturing high-yield investment castings with minimal energy.” Both initiatives will be undertaken by GE at its Gas Turbine Technology Center in Greenville, South Carolina, which is home to the world’s largest gas turbine manufacturing facility and full-scale combustion test facility. Foundational testing for the new technology will be carried out at Georgia Atlanta-based Georgia Institute for Technology, a university which specializes in engineering and gas turbine combustion.

In a written statement, John Intile, Vice President, Engineering at GE Power said, “As one of the world’s leaders in combustion technology, GE Gas Power is leading technology and manufacturing advancements in the power generation industry to enable low or zero-carbon power generation, all of which fundamentally relies on conducting advanced research both at GE and with collaborators.” He mentioned that they he is pleased the DOE has recognized the need for alternative methods to boost the efficiency of gas turbines. Intile added, “We look forward to developing these breakthrough technologies with prestigious collaborators, including Georgia Institute of Technology (Georgia Tech), our GE Global Research Center, and DDM Systems, a pioneering company in the investment casting industry.”

Lifted-Flame Combustion for High-Hydrogen Reheat Gas Turbines

Tim Lieuwen, Regents’ Professor and Executive Director of the Strategic Energy Institute at Georgia Tech expressed his delight at being able to collaborate with two industry leaders. He admitted that they will be working to deploy cutting-edge diagnostic and modeling tools that will “predict key hydrogen flame parameters and those relating to macro-engine performance.”

The new technology will target net plant efficiencies of 67% of greater on a wide range of fuel compositions, while meeting strict emission standards.  The goal is to increasing gas turbine combined cycle plant efficiency by five or more percentage points in the next decade sot that GE can easily transition to cleaner energy models

The DOE is committed to slashing carbon pollution across industries from manufacturing to construction. The mission is to mitigate the effects of climate change and lower energy costs while supporting technologies with clean energy.

Manufacturing High-Yield Investment Castings With Minimal Energy

The second project will focus on developing casting technology including innovative furnace development and 3D printed additive ceramic mold technologies that will fundamentally change the production of high-value metal components for gas turbines. The new system could produce cast parts using 90% less energy than traditional methods without compromising on quality, while improving yield and consistency.

Tom Amond, Emerging Technology Incubator at GE Gas Power revealed, “the proposed system of technologies, combining digital tooling, cutting edge additive ceramic mold printing, and lean flow casting technology, will enable us to respond rapidly while reducing our energy usage and carbon footprint.” GE Gas Power will collaborate with DDM Systems that offers #D pritign technologies for investment casting.

Together, both the projects will help improve the efficiency of GE’s gas turbines while bringing down energy costs for a cleaner world. Over 90 companies and organizations have joined the DOE’s “Better Climate Challenge” and pledged to reduce their carbon emissions by 50% by 2030 and to promote clean energy.

The post GE Gas Power Receives $4.2 Million To Power Up Gas Turbines appeared first on Industry Leaders Magazine.

The energy-startup is mainly known for its electric scooter Simple One, which was launched in August 2021. However, the company has not yet started delivering the two-wheeler to customers.

Lithium-ion battery cells are the central unit of any electric vehicle (EV). Simple Energy’s pact with Charge CCCV (C4V) focusses on setting up a Lithium-ion cell manufacturing system in India. The company revealed that they have signed a Memorandum of Understanding (MoU) to this effect with C4V. The facility will receive an initial investment of $150 million.

Simple Energy and the EV

Simple Energy was founded in 2019 to redefine the future of electric vehicles, by making them secure and affordable. The company leads the domestic EV industry by vertically integrating the entire value chain.

Shreshth Mishra, co-Founder of Simple Energy mentioned that, “C4V has been working on battery and cell technology for quite some time that is not dependent on rare earth materials. Simple Energy along with C4V will jointly work on R&D of cell manufacturing that makes the battery packs of tomorrow safer and better performing.” He informed the Press Trust of India that the facility with an initial capacity of 1-Gigwatt hours will be gradually increased to 5-Gigwatt hours, and is expected to be operational by the end of this year.

In addition to the development of batteries, the two companies will collaborate on building cells with industry-leading safety, higher energy density than LFP (Lithium Ferro Phosphate) batteries, faster charging, and longer life cycle based on C4V’s patented technology.

Mr Mishra also revealed that this partnership will help Simple Energy refine its technology as it works to drive innovation and produce modern two- and four-wheelers in the near future. He affirmed his faith in their US-based partners by revealing, “By partnering with C4V, we will consolidate cell supply, which is a vital component for us. This strategy also makes us more self-reliant and reduces our dependency on imports.”

C4V’s Future Plans

C4V is based out of Binghamton, New York, and holds patents for its Lithium-Ion battery manufacturing process and composition. Last year, the company was invited to participate in a U.S. Department of Energy Project that focused on solar powered hybrid system for grid stabilization.

As of today, the company offers different batteries, including the P-series, N-series, and S-series batteries. LiSER is a proprietary battery technology developed by the firm.

In January, Shailesh Upreti, CEO and Founder of C4V, introduced LiSER, a unique cell technology platform, which stands for Lithium slim energy reserve. The company website states that “LiSER brings a Cobalt and Nickel free lithium-ion battery cell technology providing 40- 50 % higher energy density and 5 times more power density than LFP.” It will also address various challenges faced the industry pertaining to supply chain, cost, and battery performance.

Kuldeep Gupta, Vice President of CV4 mentioned that the American manufacturer is always ready to collaborate and wishes to support the EV industry in India.

Keeping in mind the rising fuel prices and economic instability brought on invasions, he added, “Empowering local manufacturing will not only reduce the burden of import duties but also ensure the timely supply of quality batteries in the EV space boosting the confidence of Original Equipment Manufacturers (OEMs) in the electric mobility market.”

Currently, the company is in the final stages of commissioning its iM3NY Gigafactory in Upstate New York and aims to start production in the next few months. They are working to accomplish a 38GWh production target within the next eight years. 

The post EV maker Simple Energy Partners with US-Based Charge CCCV appeared first on Industry Leaders Magazine.

TotalEnergies of France is treading a fine balance of fulfilling the current need to tip a hat to cleaner energy options and keep its profit-generating oil and gas business.

Besides constructing the solar power plant, the money will be used to inject seawater into oilfields to boost production and capture gas that is currently flared and sell it to local power stations. Chief executive Patrick Pouyanné of the energy company was particular about emphasizing on the positive effects of a reduction in gas flaring, better water resource management and solar energy. Iraq’s Prime Minister Mustafa al-Kadhimi said the investment would increase crude production at one field from 85,000 to 210,000 barrels a day.

Total has said it will spend more than $2 billion this year on electricity and clean energy, but Pouyanné warned of the risk of overpaying for renewable assets with “crazy” valuations.

Climate activists are obviously disappointed with the investment. Mia Moisio at Climate Action Tracker, said Total’s deal was in contravention to the International Energy Agency report that stated meeting the Paris climate targets required a global halt to new fossil fuel investments. But Total argues that such clean energy investment needs to be funded by the old and gas business, which are more profitable and sustainable in terms of cost.

Ahmed Mehdi, a visiting research fellow at the Oxford Institute for Energy Studies, said the company is clear that the zero emission promises cannot be met without access to low-cost and low-emission barrels. Compared to the other players in the market, such as Shell and BP, Total is not shy of acknowledging that investment in hydrocarbons is needed to fund greener projects. Most energy companies are treading the middle path of pushing the old and gas investment and investing in low emission technologies and materials too.

Total has performed better than its peers in the last two tough years and even managed to pay dividend to its shareholders, and its shares have done better at the bourses. BlackRock, which holds about 7.5 per cent of Total’s stock, said in its annual investment voting report in July that the oil group’s approach “strikes a reasonable balance between ambition and pragmatism as it relates to the global energy transition”.

Countries such as Iraq provide better grounds for developing renewables projects at a lower cost. The riskier proportion lowers the cost, though Total has an advantage as it has been operating in Iraq for more than 100 years. French president Emmanuel Macron visited Iraq in August for the second time in under a year, just a week before the Total deal was announced. The Iraqi government has been courting foreign investors and described the deal as “the biggest investment by a western company” in the country.

In Iraq, Aditya Saraswat, an analyst at consultancy Rystad Energy, said that security risks had receded. Both the water-injection and gas-capture project appeared likely to generate good returns.

Most oil majors are considering withdrawing from parts of Africa and the Middle East due to security risks, corruption, and instability. ExxonMobil was in talks with Iraq to invest $53 billion to develop a project to use seawater to increase oil output, but now it has decided otherwise as it wants to focus on low-cost fields closer to home in Guyana, Brazil and the US Permian Basin. BP is also considering withdrawing from the country.

Meanwhile, Total is more confident that it can continue to operate profitably in these volatile countries. Last year it increased its stake in the Lake Albert oil project in east Africa, which expects to make Uganda an oil producer and export crude via a 1,400km electrically heated pipeline. It is also eyeing large liquid natural gas projects in Mozambique, where an Islamist insurgency forced the company to declare force majeure in April, and in Yemen, where the long-running civil war threatens its progress.

The post Total signs $27 billion energy deal to fund 1-gigawatt solar power plant appeared first on Industry Leaders Magazine.

Forrest aims to produce 15 million tons of renewable energy hydrogen by 2030 through his Fortescue Future Industries. 

Forrest, one of the richest Australians, says the green hydrogen market is potentially worth $12 trillion by 2050. He says it is a viable solution and meets clean energy needs in transport, energy and industry.

The Australian federal government and the renewable energy sector are vigorously investing in manufacturing hydrogen from coal and gas, which also propagates carbon capture and storage, even though new studies say this combination will increase rather than cut emissions. 

He does not believe that gas and sequestered hydrogen is a good future fuel.

“The oil and gas sector is preying on public hope, and the political opportunism this allows – by allowing the colors of the rainbow and calling it clean hydrogen, which of course, being made from fossil fuels, it is anything but,” Forrest said.

“Blue, grey, pink, yellow hydrogen is not renewable green hydrogen. And don’t get me started on the smokescreen of sequestration.

“The most recent argument that hydrogen made from fossil fuel whose carbon emissions have attempted to be sequestered – buried in the ground – is “the new green”, is false. Regardless of the success of sequestration – it normally fails, there are huge carbon emissions emitted in its process.

“If it is not renewable green, don’t be fooled by any other color coded spin. Any other color than renewable green is dirty hydrogen.”

Forrest says the plans for 15 million tons by FFI by 2030 cane increased to 50 million tons per annum thereafter – a scale equal to the very largest oil and gas companies today.

It is not clear if Forrest is referring to green hydrogen only or green ammonia, but if it is green hydrogen only then it will likely need wind, solar or hydro at a scale in the hundreds of gigawatts.

FFI is reportedly purchasing land in Western Australia, particularly in the Pilbara. “We have secured agreements with countries all over the world to develop significant renewable energy sources to produce renewable green hydrogen,” Forrest said.

“We will also aggressively pursue projects across Australia and develop renewable energy at an unprecedented scale.”

The biggest green project unveiled to date in Australia and the world is a 50GW wind and solar facility north of Esperance in Western Australia, focusing on green ammonia. But this project is still awaiting investment approval.

The latest IPCC report shows that the world may likely be fighting a losing battle with global warming. The UN-sponsored COP26 climate meeting in Glasgow in November will be important for the world. Forrest believes it is our last chance to stop the planet from hurtling towards a climate disaster.

“I am not in the doomsday business; I’m an optimist, and I am in the solutions business. My answer is renewable Green Hydrogen. Our greatest natural resource isn’t iron ore, it isn’t gold, it isn’t gas, it’s certainly not oil or coal, it is green hydrogen,” Forrest said at the seminar.

He added that hydrogen is the most common element of the universe and abundant as it makes up 75% of the mass of the universe. And it can be made by running electricity through water. When that electricity is made from renewable sources, the hydrogen produces is green hydrogen, the only clean source of energy in the world, one that could replace up to 75 per cent of the emissions. The only thing needed is the technology and the scale to make it happen, he emphasized.

The post Australia’s iron ore baron, Andrew Forrest says hydrogen industry could be worth $16 trillion by 2050 appeared first on Industry Leaders Magazine.

President and chief executive officer Henrik Andersen said the partnership would help Vestas work across the value chain of clean energy by expanding its project development business, which ranges from permitting, design, construction and operation of wind farms.

Vestas is the world’s largest manufacturer of wind turbines. In the past two years, the company’s revenues have grown by 50 percent due to the growing demand for wind turbines and maintenance services.

According to the International Energy Agency, clean energy has been the world’s fastest-growing part of the energy sector in 2020. Moreover, a record-setting 198GW of renewables were installed by the end of 2020, the agency noted.

Under the new partnership with CIP, Vestas will launch a new Energy Transition Fund by next year, with Vestas as anchor investor. This would mark the turbine maker’s boldest step yet into project development.

In recent years, the prices for wind turbines have fallen drastically, reducing profit margins for world’s leading manufacturers. The Danish clean energy company’s gross margins have declined from around 20 percent in 2017 to 11 percent during the first nine months of 2020.

According to CIP’s managing partner Jakob Baruël Poulsen, the new Energy Transition Fund would focus on expanding in markets outside Europe. In addition, the two entities will also focus on “Power to X” projects, which convert wind power into other renewable forms of energy such as green hydrogen.

Currently, CIP has more than $17 billion (€14 billion) of assets under management. It is a leading investor in clean energy projects, including offshore wind energy projects in Germany and the UK.

The two partners will not enter into an exclusionary agreement as part of the deal. As a result, CIP is free to buy wind turbines from any other manufacturer, while Vestas is free to work with other project development firms and investors.

Vestas is currently in the process of completing its acquisition of a subsidiary, MHI Vestas Offshore Wind. The turbine maker would have to layoff employees as it integrated the 3,500 employees of the offshore wind unit.

The MHI Vestas Offshore Wind is a subsidiary that has been operating as a joint venture between Vestas and Mitsubishi Heavy Industries for the past seven years. Andersen’s decision to acquire the subsidiary was largely motivated by the belief that the offshore wind turbine market is likely to quadruple in the coming years. 

(Image Credit: Unsplash)

The post Vestas inks $600 million partnership with Copenhagen Infrastructure Partners appeared first on Industry Leaders Magazine.