Strait Area Chamber of Commerce’s Post

【Press Release｜Stonepeak and Shizen Energy to Form Asian Onshore Wind Platform】 Press Release https://lnkd.in/gQZtgwgg Stonepeak has completed an investment in TerraWind Renewables, an onshore wind energy platform, in partnership with Shizen Energy. As part of the transaction, Stonepeak has acquired an 80% interest in TerraWind, with Shizen Energy retaining the remaining 20% interest in the business. TerraWind will focus on the development of onshore wind projects in Japan and across the Asia-Pacific region. Shizen Energy, founded in 2011 and headquartered in Japan, focuses on the development, financing, and management of renewable energy power plants. The Company’s wind power-focused business segment has operated for almost ten years under the stewardship of a highly experienced management team with a proven track record of developing and constructing onshore wind assets. As of today, the onshore wind platform consists of 30MW of late-stage development assets in Japan and a pipeline of over 300MW across the Asia-Pacific region. “We are excited to close this new partnership for onshore wind with Stonepeak which builds on our existing relationship with Stonepeak’s portfolio company Synera Renewable Energy, a leading Taiwanese offshore wind developer, whom we have partnered with since 2021. Shizen’s core business since its foundation has been solar PV, which we will continue to promote strongly, however our customers require a variety of solutions to achieve their decarbonization goals, including energy storage, energy management systems, EVs, and also wind power. By focusing on new onshore wind project development, we believe TerraWind will realize many attractive projects for our corporate PPA customers in Asia,” said Oliver Senter, Executive Officer at Shizen Energy responsible for Investment & Strategy.

Onshore Wind Energy Market Comprehensive Overview https://lnkd.in/dqRkqPkC The global Onshore Wind Energy Market size accounted for USD 52.2 Billion in 2023 and to reach at USD 79.98 Billion in 2033, growing at a CAGR of 4.4% from 2024 to 2033. Introduction The Onshore Wind Energy Market stands as a beacon of sustainable energy solutions, propelling the global shift towards renewable resources. This comprehensive overview delves into the key facets of the Onshore Wind Energy Market, shedding light on its growth trajectory, technological advancements, and market dynamics. Harnessing the Power of Onshore Wind Energy Wind Turbines: The Backbone of Renewable Energy Wind turbines harness the kinetic energy of wind and convert it into electricity. These towering structures consist of blades, a rotor, and a generator, working in tandem to produce clean, renewable energy. Global Expansion of Onshore Wind Farms Onshore wind farms span vast landscapes across continents, harnessing the abundant wind resources available. Countries like China, the United States, and Germany lead the charge in onshore wind energy capacity and installations. Advantages of Onshore Wind Energy Clean and Renewable Onshore wind energy produces electricity without emitting greenhouse gases or pollutants, mitigating environmental impact. It relies on a replenishable resource—wind, ensuring a sustainable energy source for generations to come. Cost-Effectiveness and Accessibility Onshore wind energy boasts competitive pricing compared to conventional energy sources like coal or natural gas. Its accessibility in various geographical regions makes it a viable option for decentralized energy production. Market Trends and Dynamics Technological Advancements Continuous innovations in wind turbine design and efficiency enhance the performance and reliability of onshore wind farms. Advancements in rotor blade materials and aerodynamics optimize energy capture and minimize maintenance costs. Policy Support and Incentives Governments worldwide implement supportive policies and incentives to promote onshore wind energy development. Feed-in tariffs, renewable energy targets, and tax incentives stimulate investment in onshore wind projects. Growing Investment and Market Expansion The onshore wind energy market attracts significant investment from both public and private sectors. Increasing demand for clean energy solutions drives market expansion, with new installations and projects on the rise globally.   𝐑𝐞𝐜𝐞𝐢𝐯𝐞 𝐭𝐡𝐞 𝐅𝐑𝐄𝐄 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://lnkd.in/d4Xz_bAd   Market Segmentations: Global Onshore Wind Energy Market: By Company Siemens Envision Energy General Electric Suzlon Vestas Enercon Mitsubishi P

BP Plans to Divest U.S. Onshore Wind Business to Focus on Solar Partnership and Fossil Fuel Investments Insights: 1. Divestment Announcement: • BP Plc has announced its intention to sell its U.S. onshore wind business, BP Wind Energy, as the company seeks to align its operations with its growth strategy focused on solar energy through its partnership with Lightsource BP. 2. Business Overview: • BP Wind Energy operates 10 onshore wind assets across seven U.S. states, with a total net generating capacity of 1.3 GW. • The decision to divest comes amid challenges in the wind sector, including rising material costs, high interest rates, and supply chain disruptions, which have led to cancellations and renegotiations of power contracts by various wind companies. 3. Strategic Shift: • William Lin, BP’s executive vice president for gas and low carbon energy, stated that the onshore wind business may hold greater value for another owner, indicating a strategic pivot away from this segment. • This move reflects BP’s broader strategy to concentrate on solar energy, particularly following its decision to take full ownership of Lightsource BP, Europe’s largest solar energy developer. 4. Impact of Leadership Changes: • The divestment aligns with recent shifts under BP’s new CEO, Murray Auchincloss, who has paused new offshore wind projects and implemented a hiring freeze as the company re-evaluates its focus on legacy oil and gas operations. • This represents a significant departure from the previous strategy under former CEO Bernard Looney, who aimed to accelerate the transition away from fossil fuels. 5. Investment in Fossil Fuels: • BP’s divestment from onshore wind coincides with increased investment in fossil fuels, highlighted by a recent $1 billion agreement with Apollo Global Management to finance its stake in the Trans Adriatic natural gas pipeline. • Apollo has become a non-controlling shareholder in BP Pipelines TAP Limited, which holds a 20% stake in Trans Adriatic Pipeline AG. The proceeds from this transaction will contribute to BP’s target of $2 billion to $3 billion in divestments in 2024. 6. Market Context: • BP’s renewed focus on fossil fuels comes at a time when the profitability of renewable energy projects has been under pressure, contrasting with the surging profits from oil and gas products. This insight outlines BP’s strategic decision to divest its U.S. onshore wind business in favor of focusing on solar energy and fossil fuel investments, reflecting a significant shift in the company’s energy transition strategy amid market challenges and leadership changes.

NTPC Green Energy Ltd Price Band: ₹102 - ₹108 SUBSCRIBE A Pure Play in Renewable Energy With Strong Lineage NTPC Green Energy Ltd. (NGEL), a wholly owned subsidiary of NTPC Ltd., a ‘Maharatna’ central public sector enterprise, focused on developing utility-scale solar and wind energy projects, as well as projects for PSUs and corporates. As of H1FY25, NGEL’s portfolio comprised 16,896 MW, including 3,320 MW of operational projects and 13,576 MW of contracted and awarded projects. Additionally, it has 9,175 MW capacity in the pipeline, bringing the total capacity to 26,071 MW. NGEL serves 17 offtakers across 41 solar and 11 wind projects and is currently constructing 36 renewable energy projects totalling 13,576 MW in 6 states. The energy demand in India is projected to grow by ~5.5-6.0% over the next five years, driven by infrastructure investments, strong economic fundamentals, T&D expansion, and government reforms to enhance power sector. The average capacity utilization factor (CUF) for solar assets improved from 19% to 24% between FY22- FY24, indicates efficient utilisation & increased power generation. Revenue/EBITDA/PAT grew by ~47%/~48%/~91% CAGR over FY22-24 on the back of strong energy sales, high-capacity utilisation and low costs. NGEL has maintained strong EBITDA margins at ~89% (3-year average) and PAT margins at ~20% (3-year average) over FY22-24, led by superior execution and economies of scale. With strong parentage and a diversified portfolio backed by long-term PPAs (power purchasing agreements), NGEL is well-positioned to meet NTPC's target of 60 GW renewable capacity by 2032. At the upper price band of ₹108, NGEL is available at P/Bv of 4.9x (on FY25E annualised financials), which appears to be fairly priced. We assign a “Subscribe” rating for the issue on a long-term investment basis, considering its strong brand recall, superior execution capabilities, portfolio expansions, investment in nextgen energy solutions (Battery Energy Storage Systems & Green Hydrogen derivatives), and promising industry outlook.

UK’s Highview Power bags £300 mn for 6-hour duration liquid air energy storage facility. British firm Highview Power, which specializes in liquid air energy storage, has raised £300 million ($384 million) to set up its first large scale project, and the largest liquid air energy storage battery in the world. The funds were raised from the UK Infrastructure Bank (UKIB), the utility Centrica (£70 million of the £300 million), and a syndicate of investors that includes mining company Rio Tinto, investment bank Goldman Sachs, and Mosaic Capital, a private equity player. The £300 million will support a 50 MW, 300 MWh (six-hour) long-duration energy storage (LDES) facility in Carrington, Manchester that will run on Highview's proprietary liquid air energy storage (an) technology. Liquid air storage is an energy technology that uses power to compress and refrigerate air, turning it into a liquid for storage. When energy is required, the liquid air can be expanded into a gas that is then used to generate power. Highview Power announced that construction would commence immediately with commercial operation beginning in early 2026. The company said it would now start planning its next facilities, which will be larger in scale, totaling 2.5 GWh capacity and requiring £3 billion in funding. Highview said it had developed its LAES technology in the UK over the last 17 years. Its systems can store renewable energy for up to several weeks, longer than battery technologies, the company said in its release. Richard Butland, Co-founder and CEO, Highview Power, said in a statement: "There is no energy transition without storage. The UK's investment in world-leading offshore wind and renewables requires a national long duration energy storage programme to capture excess wind and support the grids transformation. Nigel Steward, chief scientist, Rio Tinto, in a statement supporting the Highview investment: "The investment … marks a significant step in helping to build a greener, more resilient and more stable energy infrastructure for generations to come in the UK and beyond." https://lnkd.in/d_tVCiDm

Onshore Wind Energy Market Comprehensive Overview https://lnkd.in/dqRkqPkC The global Onshore Wind Energy Market size accounted for USD 52.2 Billion in 2023 and to reach at USD 79.98 Billion in 2033, growing at a CAGR of 4.4% from 2024 to 2033. Introduction The Onshore Wind Energy Market stands as a beacon of sustainable energy solutions, propelling the global shift towards renewable resources. This comprehensive overview delves into the key facets of the Onshore Wind Energy Market, shedding light on its growth trajectory, technological advancements, and market dynamics. Harnessing the Power of Onshore Wind Energy Wind Turbines: The Backbone of Renewable Energy Wind turbines harness the kinetic energy of wind and convert it into electricity. These towering structures consist of blades, a rotor, and a generator, working in tandem to produce clean, renewable energy. Global Expansion of Onshore Wind Farms Onshore wind farms span vast landscapes across continents, harnessing the abundant wind resources available. Countries like China, the United States, and Germany lead the charge in onshore wind energy capacity and installations. Advantages of Onshore Wind Energy Clean and Renewable Onshore wind energy produces electricity without emitting greenhouse gases or pollutants, mitigating environmental impact. It relies on a replenishable resource—wind, ensuring a sustainable energy source for generations to come. Cost-Effectiveness and Accessibility Onshore wind energy boasts competitive pricing compared to conventional energy sources like coal or natural gas. Its accessibility in various geographical regions makes it a viable option for decentralized energy production. Market Trends and Dynamics Technological Advancements Continuous innovations in wind turbine design and efficiency enhance the performance and reliability of onshore wind farms. Advancements in rotor blade materials and aerodynamics optimize energy capture and minimize maintenance costs. Policy Support and Incentives Governments worldwide implement supportive policies and incentives to promote onshore wind energy development. Feed-in tariffs, renewable energy targets, and tax incentives stimulate investment in onshore wind projects. Growing Investment and Market Expansion The onshore wind energy market attracts significant investment from both public and private sectors. Increasing demand for clean energy solutions drives market expansion, with new installations and projects on the rise globally.   𝐑𝐞𝐜𝐞𝐢𝐯𝐞 𝐭𝐡𝐞 𝐅𝐑𝐄𝐄 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://lnkd.in/d4Xz_bAd   Market Segmentations: Global Onshore Wind Energy Market: By Company Siemens Envision Energy General Electric Suzlon Vestas Enercon Mitsubishi P

I don't mean to scare you... but did you know we only have 10 more Fridays until the end of the year? 10 more 5 Minutes of Energy on a Friday for 2024... Speaking of which... Here is what's happened this week: 🌬️ OX2 has announced the acquisition of its first wind project north of Perth, with a planned total installed capacity of up to 1 GW including a 100 MW battery energy storage system. The project is currently in its early stages. Find out more here: https://lnkd.in/gyFs8-DV 🔋 Wärtsilä Energy has announced it will deliver a 150 MW / 300 MWh capacity battery energy storage system for the Bungama Battery Storage Project in South Australia. Stage 1 of the project will be supplied to Amp Energy, with construction planned to start this month. This will be Wärtsilä’s second BESS project in SA, with the operation date expected to be in the first quarter of 2026. Wärtsilä Energy’s media release is available here: https://lnkd.in/gUyG72D6 📣 The NSW Government has announced a new target for long duration storage. In addition to the set target of 16 gigawatt hours by 2030, it has now committed to an additional 12 gigawatt hours by 2030. State energy Penny Sharpe also confirmed that it would not reduce the 8hour requirement for long duration energy storage. https://lnkd.in/gu_d7KfY 🎛️ The WA Government has released an updated greenhouse gas emissions policy for major projects assessed by the EPA, in response to the Commonwealth Safeguard Mechanism which established a nationally consistent approach to reducing greenhouse gas emissions for Australia's largest emitters. The new policy aims at reducing duplication in the assessment process. Read more here: https://lnkd.in/gSPfUcDM 🤝 Someva Renewables has published a Response to Submissions report for the proposed Pottinger Energy Park, a joint venture with AGL. The proposed NSW project, within the South West Renewable Energy Zone, would involve a wind, solar and battery development. The report summarises issues raised in stakeholder submissions, provides responses to those issues and clarification regarding the project. The Submissions report can be accessed here: https://lnkd.in/gqBWr_M6  Come say hi if you are attending the Clean Energy Council All Energy conference next week! Thank you Rona Goldman for keeping me energised.

Title: Record-Breaking Wind and Gas Energy Shares in South Australia: Implications for Dispatchable Energy [Last one for today and interestingly ..] On 11 July 2024, South Australia achieved interesting annual records in its energy sector, recording a maximum instantaneous wind share of 138.9% at 03:50 hours and a maximum instantaneous gas share of 96.0% at 23:25 hours. These records highlight the variability of wind energy and the critical role of dispatchable energy sources in maintaining grid stability. Key Points: - Annual Record in Wind Energy: South Australia reached a maximum instantaneous wind share of 138.9% at 03:50 on 11 July 2024, surpassing the previous record of 138.1% set on 14 September 2023. This demonstrates the growing contribution of wind energy to the state's power generation. - Annual Record in Gas Generation: Later that day, South Australia recorded a maximum instantaneous gas share of 96.0% at 23:25, emphasising the essential role of gas as a dispatchable energy source to balance the grid when wind generation fluctuates. - Variability of Wind Energy: The significant wind share underscores the inherent variability of wind energy, which can lead to rapid changes in power generation within short periods. - Importance of Dispatchable Energy: The high reliance on gas generation during periods of low wind availability highlights the necessity for robust dispatchable energy sources, such as natural gas and growing battery storage capacity, to ensure grid stability and reliability. - Growing Battery Storage Capacity: Investment in battery storage is increasing, offering future opportunities to enhance grid flexibility and manage the variability of renewable energy sources more effectively. - Interconnection with Eastern NEM States: Strengthening interconnections with eastern National Electricity Market (NEM) states is crucial to balance supply and demand, allowing for more efficient distribution of energy across regions and enhancing overall grid stability. South Australia's new records for instantaneous wind and gas shares illustrate the dynamic nature of the state's energy landscape. These milestones highlight the increasing role of renewable energy while underscoring the critical need for reliable dispatchable energy sources and advanced grid management strategies. Enhanced battery storage and interconnections with eastern NEM states will be vital in maintaining a stable and resilient electricity supply as we continue to integrate more renewable energy into the grid.

Orsted, MCE sign strategic partnership for 1 GW battery projects across US Midwest. Orsted and Mission Clean Energy (MCE) announced a strategic partnership to advance four standalone battery energy storage systems (BESS) across the Midwest United States. According to the agreement, MCE, a developer of utility-scale renewable energy and storage, will continue to own and lead development of the projects, while leveraging Orsted's operational experience and resources to bring the battery projects to fruition. Orsted will utilize its capital to secure and maintain interconnection queue positions for the projects and have the option to acquire an ownership stake as the projects mature, the companies disclosed in their press release. The partners have submitted interconnection applications for the projects, totaling 1 GW, in the Mid-Continent Independent System Operator (MISO) Central and North, the release noted. James Giamarino, Chief Commercial Officer at Orsted, said of the development: "We look forward to working with Mission Clean Energy under this unique partnership to accelerate the expansion of storage projects across the Midwest [US] and broaden our portfolio of renewable energy technologies and services for customers." Max Bakker, CEO of Mission Clean Energy, commented: "Orsted is an ideal partner to complement our development capabilities with their balance sheet strength and sponsorship support. Our combined expertise and resources will accelerate these projects and deliver impactful clean energy solutions in the MISO region." The agreement marks Orsted's first standalone battery storage partnership whether in the US or worldwide. The company has a portfolio of nearly 6 GW of renewable energy projects in operation or under construction across the US. This includes the 40 MW storage project at Permian Solar Center in West Texas and the 300 MW / 1,200 MWh storage project at Eleven Mile Solar Center in Arizona. In the release, the companies noted that "MISO's robust, long-term demand for new storage capacity necessitates a strong understanding of key market drivers. The region is experiencing a transformative shift in its supply mix, driven by a significant increase in non-emitting generation resources. The four projects are strategically sited to meet capacity requirements and manage increasing grid volatility, with a strong emphasis on the locational benefits that they will provide."  https://lnkd.in/dM5qXjSz