Ben Backwell

Great to see again former Italian Prime Minister and Delors Institute President Enrico Letta in Athens at the Greek Prime Minister’s Opening Gala Dinner after a panel discussion with Kyriakos Mitsotakis focusing on European politics, and #EnergyTransition & security, including Trans-Atlantic relations. The former Italian premier said Europe needs to have all 27 onboard, adding that the single market is the biggest achievement of the EU highlighting the importance of #Innovation. Letta also called for the creation of a strong #EU structure to implement the #GreenDeal in order to accompany these financial changes, proposing to the EU leaders to combine private and public market to support the most vulnerable citizens and small businesses with the green transition.

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Has the #energytransition really started? After yesterday's official launch we look at the key takeaways from the Energy Institute Statistical Review of World Energy 2024. 🔋 Primary energy has continued its accelerate post-covid rebound in 2021, now reaching a record of 620 EJ (+2% from 2022). New demand was roughly covered by fossil fuels (+8EJ) and #renewables (+5EJ), having a direct effect on record emissions increase (+2.1%). 🛢 Increase of #oil and #coal production and consumption was focused in APAC, increasing consumption by 5% each, while in Europe both declined by 1% and 16% respectively. 🚢 Gas remained stable due to growing US and APAC production and declining European demand. ⚡ Globally renewable #electricity generation has continued to rise (+12% from 2022), however low-carbon generation has faced some obstacles. 💧 Hydropower generation has been limited by weather variability while nuclear power has maintained a steady share in the energy mix at 10%. Read more: https://lnkd.in/gVmKK535 #StatsReview

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Investor appetite for #BESS is there (colocated with utility-scale renewables and C&I) and battery storage is set to outpace the growth of hydropower storage, with 200GW projected globally in 2025 RE-Source Platform APSTE - Association for Production, Storage and Trading of Electricity Bulgarian Wind Energy Association (BGWEA)

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The new Indicative Generation Capacity Expansion Plan (IGCEP-2024-34) disproportionately excludes cost-effective variable renewable energy (VRE) – solar and wind power – from the planned generation mix, relies massively on hydropower and breaches the policy that new projects will be added on a competitive and least-cost basis. While lack of transparency in data and analytic methodology, the absence of an unconstrained least-cost modeling and a low share for VRE in violation of local policy targets are especially concerning, the Renewable Energy Coalition and Alternative Law Collective note, in their separate comments on the NTDC’ planned power generation capacity expansion, that the 10-year integrated system plan (ISP) has many loopholes. They point out that there are several weaknesses in the approach to demand forecasting and demand side management as well as limitations in the transmission expansion planning, which requires attention and redress. These oversights reflect a lack of synergy within the planning process, they emphasise in their comments submitted to the nation’s power regulator, National Electric Power Regulatory Authority (Nepra). https://lnkd.in/dQUXCQMR

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The French government said on Wednesday it has granted EDF environmental authorisation to begin preparation work on the pair of new nuclear reactors (EPR2s) it plans to build in Penly, Normandy This enables EDF to begin clearing land, relocating species, reshaping the cliff, extending the sea platform and building some facilities, excluding the nuclear building However, EDF still needs to receive a separate approval from the French nuclear safety body ASN to begin work on the nuclear section, which ASN expects to provide around the end of 2026 Meanwhile, an official source confirmed EDF’s revised cost estimate for the six new reactors, at EUR 67.4bn (in 2020 values), 30% more than the initial cost, as reported in French daily Les Echos earlier this year L'article en français : https://lnkd.in/ebVvS68H ⤵

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Globally annual investment in grids needs to at least double from $260bn to $600bn by 2030. Great to see this announcement from National Grid getting on with it. Green Grids Initiative #NoTransitionWithoutTransmission #NoTimeToWait #NetZero

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Latest polling from RenewableUK has found voters support cross-party consensus on investment in renewable energy projects. #EnergyTransition #GeneralElection https://lnkd.in/erz8ruvb

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“Speculative and duplicate applications” are creating “phantom” #renewableenergy projects that are holding back efforts to #decarbonise the #UK #grid: Cornwall Insight RenewableUK WindEurope Scottish Renewables International Renewable Energy Agency (IRENA) #windpower #solarpower #energystorage

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Rising energy costs and pre-election climate policy debates have shifted voter attitudes and narratives in Brussels, leading to potential losses for climate-focused political blocs while right-wing groups gaining traction

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Nuclear Power's Green Financing Milestone: EDF Secures €5.8 Billion for Plant Upgrades Key Points: ·      €5.8 billion in green financing: EDF has secured significant funding to support the life extension of its nuclear power plants. ·      Alignment with EU taxonomy: The financing demonstrates the growing market for nuclear investments that meet the EU's green standards. ·      Safety-focused upgrades: The funds will support crucial safety improvements in response to the Fukushima-Daiichi accident. ·      Controversy and potential: While nuclear power's green classification is debated, EDF's deal highlights its potential role in a low-carbon future with the right frameworks in place. In a significant development for the future of nuclear energy, French utility company EDF has obtained €5.8 billion in green loans to fund the life extension of its nuclear power plants across France. This financing, arranged with major banks including BNP Paribas and Société Générale, underscores the growing financial market for nuclear investments aligned with the EU's green taxonomy. The funds will support EDF's "Grand Carénage" program, launched in 2011, which aims to spend €55 billion by 2025 on upgrading its plants to improve performance and enable continued operation beyond 40 years. The program includes crucial safety upgrades in response to the Fukushima-Daiichi accident. While the green classification of nuclear power remains controversial, EDF's successful securing of green loans demonstrates that with the right financing and regulatory frameworks, nuclear could play a larger part in Europe's low-carbon future. As the energy transition accelerates, the role of nuclear power will undoubtedly remain a point of contention. However, EDF's deal serves as a powerful signal of the potential for nuclear to contribute to our shared climate goals when paired with stringent safety standards and responsible waste management. Read more: https://lnkd.in/gWXhWdGZ https://lnkd.in/eb8mpp2E Questions for Discussion: How do you think nuclear power should be balanced in our transition to a low-carbon economy? What conditions should be in place for nuclear to be considered a "green" investment? Let's discuss in the comments!

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This week in your #FridayFix… 🛢️ TotalEnergies CEO Patrick Pouyanne was interviewed about the energy transitions in Bloomberg, and was revealing on the decisions that energy majors are having to make about their strategies and capital allocation. Pouyanne is optimistic about fossil fuel alternatives, which Total believes could account for 20% of its total energy sales by 2030. But the CEO stressed this transition can only happen if the company maintains a strong balance sheet – continuing to produce both fossil fuels and #cleanenergy until renewables can become cash-flow positive for the business (he estimates in 2028). Progress certainly, but too slow for most major projections modelling the routes to Net Zero... 👉 https://lnkd.in/euTpSscK   ⛑️ The Financial Times' new series ‘Health and Climate Change’ also caught our eye, highlighting important links between environment loss and spread of disease:   Studies continue to show that climate change is linked to negative health outcomes, including risking fuelling antibiotic-resistant ‘superbugs’ as higher temperatures, more flooding, rising pollution, and growing population crowding are all forecast to stoke bacterial resistance to existing drugs. #AMR (antimicrobial resistance) is a hot topic in the UN right now. 👉 https://lnkd.in/eMFKQcMa   Similarly, increasing #deforestation is a major driver of human infection and disease, opening paths for contamination to spread from animals to humans as they can spill over more easily – HIV, Zika, Sars, mpox and Ebola are some of the diseases that have emerged from tropical forests. 👉 https://lnkd.in/eDTVRTEn   🚜 And finally, on a lighter note, a new soil sensor said to be ‘revolutionising’ European agriculture has started UK trials. Measuring nutrient movement throughout the soil, the sensor helps growers make decisions about when to apply fertiliser, optimising nutrient uptake efficiency and increase profitability by reducing fertiliser use. 👉 https://lnkd.in/e7wgXFi4 #cleanenergytransition #climatechange #agriculture #ESG

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https://lnkd.in/ekYV_iYK Key Milestone Achieved for European Hydrogen Network Development Brussels– In a significant move towards shaping Europe’s energy future, 37 infrastructure companies from across the European Union gathered in Brussels to finalize the agreements for the establishment of the European Network of Network Operators for Hydrogen (ENNOH). This critical step, facilitated by a landmark meeting with EU Energy Commissioner Kadri Simson, marks the culmination of six months of dedicated collaboration among prospective Hydrogen Transmission Network Operators (HTNOs).

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Excited to share our latest blog post! This piece explores the challenges and opportunities that small islands face in transitioning to a zero-carbon energy sector. There are a lot important topics discussed in this blog, from the constraints of solar farms due to limited land mass, to the interdependent relationship between water and electricity. Join the conversation and we'd love to carry this important discussion further. Link 👉 https://lnkd.in/gDwWUu5C #islands #ArcusPower

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📢 The Council of the European Union has approved two critical parts of the #EUGreenDeal, consisting of two regulations and two directives: 🔸The Hydrogen and Gas Decarbonisation Package: This package includes a regulation and a directive that set unified internal market rules for renewable and natural gases and hydrogen, updating the current EU gas legislation. 🔹The Electricity Market Regulation: This regulation updates the existing electricity regulation and introduces specific changes to the ACER regulation. 👉 The regulations and directives will now proceed to signing and will be published in the Official Journal of the European Union. 🔸 The Hydrogen and Gas Regulation will take effect 6 months after publication. 🔹 The Electricity Market Regulation will come into force 20 days after publication. 📃 Read more: https://lnkd.in/d4rm3JAg #Hydrogen #Decarbonization #Gas #CounciloftheEuropeanUnion #electricity

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#Reorgcoverage on #SAEL --On July 16 afternoon, Reorg exclusively and accurately reported that waste-to-energy and solar power producer SAEL Industries was planning to announce the mandate for its inaugural USD bond latest by July 17. Our report provided details of the likely structure, tenor and issue size, and total capacity of assets being offered to secure the bonds. The mandate was announced late evening the same day. --On March 12, we first reported that SAEL was contemplating an inaugural USD bond to refinance its INR debt and for general corporate purposes. We had also highlighted that it was looking to raise $400M for refinancing of debt and $200M for GCP. #wastetoenergy #solar #renewables #highyield #debt #asiacorecredit #bonds

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“The rise in British renewables will play a much larger role in bolstering the UK’s energy security than potential new domestic oil and gas production." - The Energy and Climate Intelligence Unit (ECIU). In analysis published last week on Britain's energy security, the ECIU underlined the stark reality facing the nation's energy landscape. With diminishing output from North Sea oil fields, their analysis projects a growing dependence on imported energy, unless there is a significant boost in renewable integration. At Storelectric, we welcome these findings. There is an urgent need for the UK to embrace renewable power in order to ensure our energy independence and meet our #decarbonisation goals. However, achieving this hinges on widespread adoption of Long-Duration Energy Storage (#LDES) – the energy transition’s missing link. Despite already having the capacity to generate enough renewable power to meet 103% of its energy needs, annually the UK squanders millions of pounds worth of renewable energy. Without effective energy storage, surplus power generated during low demand periods goes to waste. In 2022 over a four-month period the UK curtailed 1.35 TWh of renewable energy, which is enough to power 1.2 million homes! Storelectric's CAES technology offers a solution to this problem. By storing excess renewable energy in salt caverns, we can establish a reserve of renewable power to be dispatched during peak demand, reducing waste and keeping consumer costs stable. Over-reliance on energy imports exposes consumers to volatile prices, as demonstrated by the recent cost inflation following the war in Ukraine. In 2020, Storelectric conducted a study on the trajectory of Europe’s energy transition. We projected that by 2040, only Norway, Iceland, and Switzerland would have a surplus large enough to export. Consequently, there won't be enough energy to meet Europe’s import demands, meaning soaring energy costs. This underlines how crucial the implementation of LDES is to safeguard the UK's energy security, shielding consumers from price spikes and supply shortages. Energy storage is the only way to enable a secure, renewably powered grid. As the #EnergyTransition progresses, LDES is more crucial then ever to ensure the UK’s energy independence. For more insights on this topic: ✔️Read Storelectric’s analysis on Europe’s energy transition here: https://lnkd.in/gMqgMCsr ✔️Read the ECIU’s analysis of UK energy security here: https://lnkd.in/eQSamNJY #EnergySecurity #EnergyStorage #EnablingRenewables

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Eventful June for #Energystorage! 2 First's, NTPC releases the 1st #standalone BESS tender under the #VGF (viability gap funding) and also the 1st tender specifically for #vanadium flow batteries Over the last 2 weeks, 5 #tenders associated with #energystorage were released by SECI and NTPC while GUVNL awarded a total of 500 MW/ 1000 MWh of BESS capacity (500 MWh + 500 MWh (greenshoe)) NTPC led the way with 4 such tenders and SECI sharing the 5th: 1. 250 MW/ 500 MWh Standalone BESS under VGF Scheme: - 12 year tenor under BOO model, built to be made available to NVVN for discharge of BESS through combination of a) Sale through power exchange b) Bilateral tie up with DISCOMs c) Sale through TRAS Ancillary Services. - Located in either of the 2 identified PS in RJ or GJ, with 2 cycle operation each day, 95% availability and 85% efficiency accounted monthly. Incentives for higher efficiency and LD for failing to meet the same, with annual allowed degradation of 2.5% and a commissioning period of 18 months. - Total VGF eligible for each bidder limited to INR 73 lacs/MWh or 40% of capital cost of project capacity, whichever is lower and to be disbursed over a period of 5 years with 45% disbursal on COD. 2. FDRE 2: 1.2 GW #capacity, under the assured #peak #availability model (BOO) 3. 250 MW/ 500 MWh Standalone #BESS tender (#EPC) to be set up at its Gadarwara (MP) and Solapur (MH) sites, and 4. 600 kW/ 3000 kWh Vanadium redox #flowbattery EPC tender to be set up alongside the 4 MW solar with 1MW/ 1MWh BESS facility at its Greater Noida site. (this marks the 1st tender specifically for Vanadium flow batteries) 5. SECI shared the tender for building a 4 MW #solar with 1.12 MWh BESS project spread across 4 islands of Lakshadweep under the RESCO mode. We are 6 months into 2024, till date a total of 13 #tenders associated with #energystorage has been shared by various nodal agencies in India. This includes, 11 in tendering stage and 1 that has been #awarded. In capacity terms this accounts to 3 GW of #RE and 25.8 GWh of #ESS capacity (2.1 GWh of BESS). The first half of the year also saw 3 BESS projects getting commissioned of 178 MWh capacity. #energytransition #batteries

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