• Siemens Gamesa urges action to bring costs of wind-powered green hydrogen by 2030s
• Tilt Renewables sale progresses with scheme submitted to High Court


Siemens looks to wind to bring down costs of green hydrogen

Global technology supplier Siemens is all-in on green hydrogen, and as the G7 prepares to meet in the United Kingdom, it has launched a timely white paper on bringing costs down by the 2030s.

It has pointed to the rapid pace at which wind power has become cost competitive (according to Siemens, renewables are now the cheapest new energy sources to build across two-thirds of the world) to chart a path forward for green hydrogen.

This, of course, is the model being trialled by Siemens at its Brande Hydrogen project in Denmark, which couples an existing onshore Siemens Gamesa wind turbine with an electrolyser stack.

Talk about pumping your own tyres.

Siemens believes green hydrogen of this type could reach parity with fossil fuel projects by 2030 onshore and 2035 offshore, estimating about 2GW and 10GW of capacity respectively would provide the scale required.


Tilt sale pushes ahead

Tilt Renewables (ASX: TLT) is edging closer to the mutli-billion dollar sale of one of Australia and New Zealand’s largest renewable energy businesses, receiving initial orders from the High Court to seek shareholder approval for its scheme of arrangement.

The deal will see Australian and New Zealand-listed Tilt sell its Australian business to AGL-backed fund PowAR, and its Kiwi offerings to fellow joint listing Mercury NZ (ASK: MCY).

The deal values Tilt at around $NZ8.10 per share, a premium to its independent adviser’s evaluation of $NZ6.20-$7.83 a pop.

The scheme meeting is set down for July 14 in Wellington.


Tilt Renewables share price today:



Siri – give me synonyms for …

Oil and gas tiddler Red Sky Energy (ASX: ROG) has had some promising advances in the traditional fuel space with the Killanoola project in South Australia.

It enjoyed a bump alongside its AGM today, but it is unclear whether it was managing director Andrew Knox’s blue sky outlook for the oil and gas industry post-Covid or something else that drove the buying.

There was this cryptic message from Mr Knox:

“The structural changes taking place within our industry are also accelerating as energy transition gains momentum, and IOCs recalibrate their portfolios away from hydrocarbons.

“This movement is presenting a strong pipeline of inorganic opportunities for Red Sky to consider, and we are presently screening numerous assets that fit with our criteria.

“We believe that the Company is uniquely positioned to capitalise on the opportunities presented by these industry changes given our ambitious growth objectives, our strong shareholder support and emerging operating capability.”

Recalibration, structural changes, uniquely positioned, inorganic opportunities all feel like code for something.

Of course if it did emerge with a green hydrogen project on its books, Red Sky would not be the first oil and gas junior to take a whiff of the winds of change.


Red Sky Energy share price today: