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17 Jul 2024 | 08:05 UTC — Insight Blog
Featuring Staff and Eric Yep
Energy transition highlights: Our editors and analysts bring together everything you need to know about the industry this week, from renewables to storage to carbon prices.
Germany has awarded the first green ammonia contract under its H2Global hydrogen derivative import scheme, with Fertiglobe winning at Eur1,000/mt ($1,088/mt) for delivery to Northwest Europe.
The auction result is significant as it is a strong indication of the market potential of renewable hydrogen and its derivatives demonstrating that financial and procurement innovations like H2Global's mechanism can proceed forward and create the market for the new fuel.
The supply will start with a potential 19,500 mt in 2027, subject to production start date and supply availability from Fertiglobe's plant in Egypt, rising to a total of 397,000 mt cumulatively by 2033, for a maximum contract value of Eur397 million.
A final investment decision for Scatec's Egypt Green Hydrogen project, which will supply hydrogen for the ammonia production at Fertiglobe's existing Ain Sokhna plant, is expected in the first half of 2025.
Editor’s picks
Heatwave, economic growth drive southern China's peak power load to record high
The peak power load of China Southern Power Grid (CSPG) hit a record high of 238 GW on July 10, mainly driven by the hot weather and improved economic activity, according to the State-owned Assets Supervision and Administration Commission. Peak power demand is expected to result in higher coal and natural gas demand, even though a large portion of demand growth is being met by a surge in renewables supply. A higher peak pushes up power prices, requires baseload fuels like coal to be maximized, and incentivizes mid-to-peaking plants like gas-fired power generation to boost output.
US 'needs a strong EPA,' Regan tells House Oversight Committee
US House lawmakers of both parties traded barbs in an oversight hearing of the US Environmental Protection Agency, pressing EPA Administrator Michael Regan to define the agency's new role after the repeal of the Chevron doctrine and laying out the regulatory stakes of the 2024 US election. Whether Regan will have the opportunity to implement new EPA regulations in the new post-Chevron era -- or try to ensure the agency can follow through on expansive new Biden-era rules, such as the new tailpipe emissions rule for model years 2027-32 designed to encourage adoption of electric vehicles -- will be determined by which candidate wins the presidency in November's election.
Different standards for renewable hydrogen add to project risk: trade body
Multiple certification systems and regulatory frameworks that define renewable hydrogen have led to a lack of clarity, resulting in a fragmented market and delaying development, according to members of trade body The Green Hydrogen Organization, or GH2. At the 28th UN Climate Change Conference in December 2023, several countries agreed to cooperate on mutual certification of hydrogen to facilitate trade. However, so far, governments and trade bodies have been seen issuing their individual certification plans.
Indonesia aims to start CCS/CCUS projects as early as 2026-27
Indonesia aims to bring some of its 15 proposed carbon capture and storage, or CCS, and carbon capture utilization and storage, or CCUS, projects online as early as 2026-27, although most are targeted to start operation by 2030 or later, a spokesperson with the Energy and Mineral Resources Ministry said, citing government data. The accelerated target is part of the government's commitment to reduce greenhouse gas emissions in the energy sector, according to the spokesperson.
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