14 Jun, 2022
EU green hydrogen rules could halt some projects; DOE proposes gas furnace rule
* Proposed legislation by the European Commission laying out rules for green hydrogen generation may stop some planned projects in their tracks, while more capacity than expected will come online in regions with a high share of renewables, market insiders said.
* The U.S. Department of Energy proposed an energy efficiency rule for furnaces that has been in the making since at least 2007 and drawn opposition from the natural gas industry, which worries it would make gas-powered furnaces uneconomic and push consumers to electric heating options.
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West Virginia Treasurer Riley Moore put six leading financial institutions on notice that they may no longer be eligible to provide banking services to the state because they "appear to be engaged" in boycotts of fossil fuel companies.
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The U.S. Department of the Interior issued its first policy on the permanent underground storage of carbon, one of several nascent technologies being explored by the Biden administration as a means to combat climate change.
UTILITIES & POWER
* Vistra Corp. is planning to invest over $50 million in a battery energy storage system project that will be built at its Joppa Steam coal-fired power plant, which will soon be retired, WSIU reported.
* Western Australia's state-owned coal power stations will be retired by 2030, as part of their efforts to transition to greater use of renewables, especially rooftop solar, the government said in a statement June 14, as reported by S&P Global Platts.
* A total of 12 utilities agreed to buy hourly energy certificates on a new U.K. trading platform launched by Nordpool ASA and Granular SAS, Bloomberg News reported.
RENEWABLES & CLIMATE
* REC Silicon ASA and Ferroglobe PLC agreed to negotiate a supply agreement that could lay the foundation for a U.S. solar supply chain.
* Vermont Gov. Phil Scott signed into law an $8.13 billion state budget for the 2023 fiscal year with $225 million allocated for climate change measures.
* The Bureau of Land Management has given its approval for Clearway Energy Group LLC to start the construction of the 265-MW Arica Solar and Battery Storage Project and the 200-MW Victory Pass Solar Project both in Riverside, Calif.
* Pine Gate Renewables LLC is proposing to build the Echo Solar Project, a 1,250-MW solar project in Morrow County, Ore., according to a report from Portland Business Journal.
* Duke Energy Corp.'s floating solar project in the U.S. Army's Fort Bragg in North Carolina will soon start operations as part of a major utility energy services contract.
* TotalEnergies SE will acquire a 25% interest in Adani New Industries Ltd., which will be the exclusive platform of the company for green hydrogen production in India. ANIL will target one million metric tons of green hydrogen per year by 2030.
NATURAL GAS
* Pacific Gas and Electric Co. commissioned its latest renewable natural gas pipeline interconnection project as the multi-utility followed up on a recently announced renewable natural gas strategy, part of a plan to be "climate positive" by 2050.
* The Nord Stream 1 pipeline will halt natural gas flows as it undergoes its yearly maintenance in the summer, Reuters reported.
* Synthica Energy LLC will develop a new anaerobic digestion facility in Houston, Texas, that will convert organic waste into renewable natural gas.
OIL
* BP PLC agreed to divest its 50% interest in the Sunrise oil sands project in Alberta, Canada, to Cenovus Energy Inc., and to acquire Cenovus' 35% stake in the undeveloped Bay du Nord project offshore Newfoundland and Labrador.
* Crude oil futures were steady to higher in mid-morning Asian trade June 14 as prices were buoyed by a global supply crunch amid a selloff across broader financial markets, S&P Global Platts reported.
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