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Energy
Emission Control is Stockhead’s fortnightly take on all the big news surrounding developments in renewable energy.
San Francisco-based Global Energy Monitor (GEM) studies the evolving international energy landscape through various tools that allows users to access summaries and analysis at a regional and global scale
Its Global Solar Power Tracker has released new data showing current and planned global renewable capacity is just large enough to offset existing operating coal capacity by 2030.
By then, the firm says 3,242GW of wind and solar power are projected to be installed globally, compared to the current global operating coal fleet of 2,067GW – a whopping 44% difference.
But while the renewable energy forecast is tremendously promising, Kasandra O’Malia, project manager for the Global Solar Power Tracker says if the world is to reach its net-zero goals with a hope of keeping global temperature increases below 1.5C, utility-scale renewables are clearly not going to cut it.
“Distributed solar must take center stage,” she says.
With the construction of all potential solar capacity, the large-scale (>20 MW) global solar fleet would fall short by 3,785GW and only be able to reach 26% of the International Energy Agency’s (IEA) 2030 target.
Assuming installations of smaller-scale solar mirror the growth GEM sees in large-scale solar, the firm estimates global solar will still be more than 1,000GW shy of the 2030 Net Zero goal.
“Prospective global wind projects fare better by supplying 62% of the target with projects slated to come online before 2030 but still miss the objective by 1,161GW,” Global Energy Monitor says.
A $35bn subsea cable venture (the Australia-Asia PowerLink Project) that promised to transfer Australian solar power 4200km from Darwin to Singapore has collapsed due to the “absence of alignment with the objectives of all shareholders”.
Backed by Andrew Forrest and tech billionaire Mike Cannon Brookes, Sun Cable announced on Wednesday it had made the “difficult” decision to enter voluntary administration to unlock a path forward and whilst funding proposals were provided, consensus on the future direction and funding structure of the company could not be achieved.
The company said the path would include access to additional capital for the continued development of the AAP PowerLink in hopes to progress the next stage of its development portfolio in a strong market.
“Christopher Hill, David McGrath and John Park of FTI Consulting have been appointed as voluntary administrators,” Sun Cable said in an announcement.
“The administrators intend to work with the company’s management team and key stakeholders to determine appropriate next steps for the business.
“This will likely involve a process to seek expressions of interest for either a recapitalisation or sale of the business.”
The McGowan Government has approved the allocation of land for seven renewable energy projects across two industrial sites near Port Hedland and Onslow on the Pilbara coast.
Proponents such as POSCO, Fortescue Metals Group (ASX:FMG), Alinta Energy, Tees Valley Lithium and BP have been allocated land for the production of green iron ore, ammonia, hydrogen and lithium sulphate monohydrate, valued at an estimated $70bn.
“From job creation to growing the local advanced manufacturing industry and servicing international markets, we will see the economic benefits of these land allocations and these projects flow through the WA economy over time,” Minister Roger Cook says.
| CODE | COMPANY | PRICE | % WEEK | % MONTH | % 6 MONTH | % YEAR | MARKET CAP |
|---|---|---|---|---|---|---|---|
| AST | AusNet Services Ltd | 0 | -100% | -100% | -100% | -100% | $9,919,608,019 |
| AVL | Aust Vanadium Ltd | 0.029 | 7% | 16% | -28% | -9% | $126,545,131 |
| BSX | Blackstone Ltd | 0.15 | 15% | -3% | -19% | -74% | $68,640,845 |
| DEL | Delorean Corporation | 0.074 | -8% | 4% | -47% | -67% | $15,963,348 |
| ECT | Env Clean Tech Ltd. | 0.011 | 0% | -24% | -35% | -62% | $18,878,768 |
| FMG | Fortescue Metals Grp | 22.92 | 9% | 7% | 36% | 9% | $68,660,917,671 |
| PV1 | Provaris Energy Ltd | 0.052 | 21% | 2% | 0% | -50% | $24,124,340 |
| GNX | Genex Power Ltd | 0.16 | 23% | -6% | 28% | -18% | $221,628,342 |
| HXG | Hexagon Energy | 0.018 | 6% | 6% | -22% | -75% | $8,719,570 |
| HZR | Hazer Group Limited | 0.61 | 5% | -10% | -22% | -51% | $101,414,027 |
| IFT | Infratil Limited | 7.88 | -3% | -7% | 12% | 5% | $5,719,470,298 |
| IRD | Iron Road Ltd | 0.12 | 0% | -4% | -17% | -38% | $96,291,151 |
| LIO | Lion Energy Limited | 0.034 | 13% | 0% | -3% | -54% | $14,487,748 |
| MEZ | Meridian Energy | 4.69 | -4% | -2% | 9% | 8% | $6,178,585,597 |
| MPR | Mpower Group Limited | 0.018 | 6% | -10% | -38% | -55% | $5,580,362 |
| NEW | NEW Energy Solar | 0.2 | 3% | 3% | 41% | 50% | $64,117,597 |
| PGY | Pilot Energy Ltd | 0.016 | 0% | 7% | 0% | -70% | $12,501,505 |
| PH2 | Pure Hydrogen Corp | 0.21 | 11% | 8% | -18% | -59% | $73,954,924 |
| PRL | Province Resources | 0.063 | 5% | 5% | -25% | -57% | $75,615,561 |
| PRM | Prominence Energy | 0.001 | -50% | 0% | -50% | -90% | $2,424,609 |
| QEM | QEM Limited | 0.19 | 6% | 6% | 6% | -7% | $25,001,560 |
| RFX | Redflow Limited | 0.245 | 11% | -4% | -47% | -51% | $44,031,244 |
| SKI | Spark Infrastructure | 0 | -100% | -100% | -100% | -100% | $5,036,718,784 |
| VUL | Vulcan Energy | 7.11 | 10% | 5% | 32% | -29% | $1,018,390,637 |
| CXL | Calix Limited | 5.06 | 12% | 7% | -9% | -17% | $883,477,513 |
| KPO | Kalina Power Limited | 0.016 | 7% | -3% | -11% | -36% | $24,243,133 |
| RNE | Renu Energy Ltd | 0.057 | 10% | 8% | 54% | -37% | $25,084,871 |
| NRZ | Neurizer Ltd | 0.094 | -4% | -13% | -43% | -37% | $105,675,586 |
| LIT | Lithium Australia | 0.05 | 9% | 6% | -32% | -58% | $62,280,775 |
| TNG | TNG Limited | 0.08 | 11% | -7% | 16% | 1% | $112,461,876 |
| SRJ | SRJ Technologies | 0.11 | 16% | -74% | -74% | -74% | $8,917,525 |
| NMT | Neometals Ltd | 0.91 | 12% | -5% | -9% | -37% | $508,521,882 |
| MR1 | Montem Resources | 0.04 | 0% | 0% | 25% | -20% | $12,893,190 |
| FGR | First Graphene Ltd | 0.097 | -8% | -16% | -19% | -50% | $58,131,639 |
| EGR | Ecograf Limited | 0.23 | -4% | -6% | -15% | -67% | $103,576,696 |
| EDE | Eden Inv Ltd | 0.005 | 0% | -17% | -50% | -76% | $13,656,369 |
| CWY | Cleanaway Waste Ltd | 2.66 | 1% | -1% | 4% | -12% | $5,809,860,313 |
| CPV | Clearvue Technologie | 0.185 | 6% | -5% | -26% | -34% | $39,071,043 |
| CNQ | Clean Teq Water | 0.45 | 22% | 18% | -10% | -36% | $26,546,737 |
| M8S | M8 Sustainable | 0.008 | 0% | 14% | 0% | -56% | $3,927,268 |
| EOL | Energy One Limited | 4.5 | 0% | 0% | -13% | -27% | $133,811,667 |
| LNR | Lanthanein Resources | 0.0225 | 7% | -25% | 50% | -2% | $20,613,087 |
| FHE | Frontier Energy Ltd | 0.465 | 3% | -10% | 138% | 258% | $114,119,108 |
| LPE | Locality Planning | 0.052 | 2% | -13% | -16% | -64% | $9,264,126 |
Autocar makers have been quick to shore up raw material supplies for batteries, particularly within the lithium space, but this week the world’s third largest luxury car maker – Stellantis – signed a definitive agreement with Element 25 (ASX:E25) for the supply of battery grade manganese sulphate monohydrate (HPMSM) for use in EV battery packs.
The 45,000tpa supply will come from E25’s proposed USA-based HPMSM processing facility over a five-year period beginning in 2026, with opportunities to extend both the volume and the contract period.
Volumes will begin at 5,000t of HPMSM in year one of operations, increasing to 10,000t in years two to five
Stellantis is also set to part-fund the development of E25’s processing facility with an initial injection of US$30m in two tranches, marking a huge endorsement for the company and its plans to become a long-term supplier of battery materials.
“Our commitment to a carbon net zero future includes creation of a smart supply chain to ensure we met out customers’ desire for EVs,” Stellantis CEO Carlos Tavares says.
“Electric vehicles that deliver breakthrough customer experience in propulsion, connectivity and convenience are central to our Dare Forward 2030 plan that delivers safe, clean and affordable mobility.”
Provaris Energy (ASX:PV1), the company behind the development of a compressed hydrogen GH2 carrier and transport supply chain to Europe, has entered an MoU with Norwegian Hydrogen, which will see the the two companies working together on large-scale production and export of green hydrogen projects.
The plan at this stage is to make use of combined kills and experience of both companies – PV1’s hydrogen carriers and storage solutions and Norwegian Hydrogen’s production sites across the Nordics to complete a joint design concept study which will be completed in the March quarter of 2023.
According to Provaris, the study will identify a preferred production and export site and determine the technical and economic viability of a fast-track green hydrogen supply chain connected to the key ports in Germany and the Netherlands.
Norway represents 50 per cent of the hydropower reservoir capacity of EU and is key in reaching the REPowerEU ambition of 10mtpa hydrogen import by 2030.
The study is envisioned to include renewable power supply, production of hydrogen, compression facilities, storage, infrastructure for jetty loading and unloading, Provaris’ H2Neo carrier, and import infrastructure required at identified import locations.
Application for suitable funding schemes available through national schemes and the European Union will also be made.
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