The Anonymous Widower

BP To Open Offshore Wind Office In Germany, Starts Recruitment Drive

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the first paragraph, which adds a bit more information.

Global energy major bp plans to open an office in Hamburg, Germany dedicated to the development of offshore wind projects and is in the process of seeking employees for the new office.

These are other points from the article.

  • The topic of wind power is being promoted particularly in Hamburg.
  • BP said that the company has already achieved a number of milestones in the field of wind energy.
  • In cooperation with EnBW, bp is currently developing several wind farms in the Irish and Scottish Seas.
  • Similar plans already exist for the Netherlands.
  • The energy major would also like to supply charging stations for electric vehicles with green electricity.
  • In Germany, wind and solar energy should account for 80 per cent of electricity generation by 2030, compared to today’s 42 per cent.
  • Offshore wind energy is planned to grow seven times by 2045.

I believe that BP’s project expertise and management, backed by billions of German euros could be a complimentary dream team.

October 31, 2022 Posted by | Energy, Finance & Investment | , , , , , , , | Leave a comment

Q&A: What does ‘Subsidy-Free’ Renewables Actually Mean?

The title of this post, is the same as that of this article on Carbon Brief.

This is the first paragraph.

Recent announcements in the UK and across the rest of Europe seem to be ushering in a new era of “subsidy-free” renewables, which can be deployed without government support.

The article gives a detailed explanation and is a must-read.

October 17, 2022 Posted by | Energy, Finance & Investment | , , , | Leave a comment

BayWa r.e. Unveils Subsidy-Free Floating Wind Project Offshore Portugal

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the first paragraph.

BayWa r.e. has officially applied to secure the rights for an exclusive use of the seabed for a commercial-scale floating offshore wind project in Portugal, which the company said will be the first subsidy-free floating wind farm in the world.

Note.

  1. BayWa are a German company headquartered in Munich.
  2. The windfarm will have a 600 MW capacity in total, in a dedicated zone off the coastline of Viana do Castelo.
  3. It will be a floating wind farm.
  4. Viana do Castelo is situated at the mouth of the Lima River and is about 74 km. to the North of Porto.

But surely the most significant fact about this project is that it is subsidy-free.

BayWa And Subsidy-Free Wind Farms

This page on the BayWa web site is entitled BayWa r.e. Sells UK’s First Subsidy-Free Wind Farm.

This is the first paragraph.

BayWa r.e. has reached a milestone for itself and the UK renewable energy sector with the completion and sale of the country’s first subsidy-free windfarm to James Jones & Sons Ltd and London-based specialist asset manager, Gresham House Asset Management.

Note.

  1. This is the first time, I’ve seen Gresham House associated with wind farms.
  2. BayWa appear to have a fifteen year agreement with Tesco for the generated electricity.

The whole page is a must read.

 

Conclusion

Does this mean, that we will be seeing subsidy-free floating wind farms around the UK?

Get the engineering, manufacturing and financial support right for floating wind farms in the UK and wind farms could be bumper-to-bumper around these islands.

October 17, 2022 Posted by | Energy, Finance & Investment | , , , , , , , | 2 Comments

Ørsted Completes 50% Stake Sale In Hornsea 2 To French Team

The title of this post, is the same as that of this article on Renewables Now.

This sale was outlined in this press release from Ørsted in March, where this is the first paragraph.

Ørsted has signed an agreement to divest a 50 % ownership stake in its 1.3 GW Hornsea 2 Offshore Wind Farm in the UK to a consortium comprising AXA IM Alts, acting on behalf of clients, and Crédit Agricole Assurances.

Insurance companies must like wind power, as Aviva backed Hornsea 1 wind farm. I wrote about this in World’s Largest Wind Farm Attracts Huge Backing From Insurance Giant.

It looks like the French feel the same way as Aviva about Ørsted’s Hornsea wind farms.

There is no safer mattress in which to stash your cash.

 

October 1, 2022 Posted by | Energy, Finance & Investment | , , , , , | Leave a comment

SSE Issues €650M Green Bond As It Ramps Up Net Zero Acceleration Programme

The title of this post, is the same as that of this press release from SSE.

This is the first two paragraphs.

SSE plc has successfully issued a €650m 7-year green bond maturing 1 August 2029 at a coupon of 2.875 per cent.

Today’s issuance is SSE’s fifth green bond in six years and reaffirms its status as the largest issuer of green bonds from the UK corporate sector. It remains the only UK corporate to offer up multiple green bonds and this latest issuance brings SSE’s total outstanding green bonds to over £2.5bn.

It’s good to see that a company can raise money by issuing bonds to finance its green ambitions.

A few years ago, green investments were derided by many, but it now seems that SSE have made hem mainstream.

August 2, 2022 Posted by | Energy, Finance & Investment | , | Leave a comment

The World Economic Forum Talk About Gravitricity

This article on the World Economic Forum is entitled How Gravity Batteries Will Help Us Switch To Renewable Energy.

The article is a must-read and Gravitricity must be very pleased with the contents and placement of the article.

As an investor in Gravitricity, through crowd-funding, I am certainly pleased.

July 13, 2022 Posted by | Energy, Energy Storage, Finance & Investment | , , | Leave a comment

Rolls-Royce Secures Funding To Build Direct Air Capture Demonstrator

The title of this post, is the same as that of this press release from Rolls-Royce.

These are the two introductory paragraphs.

Rolls-Royce has secured £3m from the UK Government to build a demonstrator Direct Air Capture (DAC) system, which could play a vital role in keeping global temperature rises to below 1.5C by removing CO2 from the atmosphere.

The demonstrator funding comes from the Net Zero Innovation Portfolio (NZIP) through the Department for Business, Energy and Industrial Strategy (BEIS) and helps deliver on the UK Government’s 10 Point Plan for a Green Industrial Revolution. It follows initial Phase 1 funding of £250,000 awarded in 2021, that allowed Rolls-Royce to design the demonstrator in partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO).

These two paragraphs, give a few clues to the technology.

Jess Poole, Direct Air Capture Lead for Rolls-Royce, said: “Every credible climate change model requires us to decarbonise today’s emissions, as well as removing CO2 already in the atmosphere via carbon negative technologies such as DAC. Our system combines our expertise in moving large quantities of air efficiently and integrating complex systems, which have been gained from designing world-leading jet engines, with novel DAC technology developed by CSIRO.

“Together the system works like a giant lung, sucking in air, absorbing the CO2, and releasing what is not wanted. We use a water-based liquid to wash around 50% of the CO2 from the captured air. Our technology is distinctive because very little water is used, and the liquid is recycled at low temperatures, making it energy efficient. Other technologies consume a lot of water and require substantial amounts of energy to generate heat for the separation of the CO2.

I was unaware of CSIRO, but that is not surprising, as they are Australian. They are introduced like this in their Wikipedia entry.

The Commonwealth Scientific and Industrial Research Organisation (CSIRO) is an Australian Government agency responsible for scientific research.

CSIRO works with leading organisations around the world. From its headquarters in Canberra, CSIRO maintains more than 50 sites across Australia and in France, Chile and the United States, employing about 5,500 people.

Their motto is “We imagine. We collaborate. We innovate.”

There’s certainly been several brilliant ideas and projects from the country in the last few years.

Is this another?

Another Problem With Carbon Dioxide

When I’m in an optimistic mood, I feel that scientists and engineers may develop so many ideas for the use of carbon dioxide, that we may need to burn natural gas in power stations, so we have the carbon dioxide for industrial or agricultural uses.

I know of one tomato grower, who uses a gas-powered combined heat and power boiler to heat his greenhouses. The carbon dioxide is fed to the tomatoes and any spare electricity is sold to the grid.

Direct Air Capture (DAC) systems might be needed to provide a carbon dioxide feedstock for some processes. Suppose in the tomato example, the grower is heating his greenhouses with an energy source, that doesn’t generate carbon dioxide, he might want to obtain his carbon dioxide from the air.

July 12, 2022 Posted by | Finance & Investment | , , , , , , | Leave a comment

Drax To Pilot More Pioneering New Carbon Capture Technology

The title of this post, is the same as that of this press release from Drax.

This is the first paragraph.

Renewable energy pioneer Drax has partnered with the University of Nottingham and Promethean Particles to trial a pioneering new bioenergy with carbon capture and storage (BECCS) process at its North Yorkshire power station.

Normally, carbon capture from the flue gas of a power station uses a liquid solvent, which dissolves the carbon dioxide.

However, the process that Drax are trialling, uses porous compounds called metal–organic frameworks (MOFs) to absorb the carbon dioxide.

This page on the Promethean Particles web site described how their carbon-capture works.

Traditional solvent-based carbon capture systems require a significant amount of energy to regenerate the carbon-capturing material. In power generation applications, estimates put this energy penalty at up to 35% of the power station’s output. Metal-organic frameworks (MOFs) capture carbon mainly through physical, not chemical means. This “trapping” process requires lower energy inputs to regenerate the MOFs and can therefore help achieve more energy-efficient carbon capture. By using MOF-based carbon capture, more of the power generated can go where it was intended, lowering the price of energy for consumers and CAPEX for the power generators.

Note.

  1. It is a physical rather than a chemical process.
  2. It is more energy efficient than traditional carbon-capture.

This Drax graphic from the press release, shows how this process can be incorporated into a power plant..

Note.

  1. The trial will last for two months and will be hosted within Drax’s BECCS incubation hub at its North Yorkshire Power Station.
  2. Metal Organic Frameworks are a unique class of solid sorbents offering lower operational costs and reducing potential environmental impacts.

Work to build BECCS at Drax could get underway as soon as 2024, with the creation of thousands of jobs.

Fifty years ago, I spent several months at ICI looking at the mathematics of different numbers and sizes of vessels of in a proposed chemical plant, to optimise the cost of the plant.

  • I suspect a similar analysis could be applied to this process.
  • It would surely be very suitable for Drax, whose main power station has four units fuelled by biomass and another fuelled by natural gas.
  • Are two columns containing MOF, the optimum number?
  • The calculation could involve a lot of permutations and combinations, which I’ve used to advantage for over fifty years.

I will follow this trial with interest.

Conclusion

This is another application of advanced physics and chemistry.

If Promethean Particles ever decide to go the crowdfunding route, I would look seriously at a small investment.

June 21, 2022 Posted by | Energy, Finance & Investment | , , , , , , , , | 2 Comments

TfL Advances Plans For DLR And Overground Extensions

The title of this post, is the same as that of this article on New Civil Engineer.

This is the first paragraph.

Transport for London (TfL) has confirmed that it is moving ahead with plans to extend the Docklands Light Railway (DLR) and the West London Orbital (WLO), part of the London Overground.

So it appears that despite all their financial problems, some progress is being made.

The Docklands Light Railway Extension To Thamesmead

I first wrote about this project in TfL Considering Extending DLR As Far As Abbey Wood.

Now it appears that TfL has been working with Homes England and the Department for Levelling Up, Housing and Communities on a feasibility study for the extension.

I would like to see this extension incorporation the following.

  • A signature bridge over the Thames with good views of the river.
  • A station with a convenient connection to Crossness, which could become one of major London’s tourist attractions with better transport links.
  • A connection to the Elizabeth Line at Abbey Wood station.

It could help to level up Thamesmead, whose main claim to fame is that it was where the violent film Clockwork Orange was made.

The West London Orbital Railway

I have written extensively about this railway and you can see my posts here.

This map from the Mayor’s Transport Strategy shows the route.

I believe this railway could do the following.

  • Level-up much of North-West London.
  • Provide better access to Heathrow.
  • Link West London to High Speed Two and the Elizabeth Line.

It would also provide better links to Brentford’s new stadium.

The New Civil Engineer says this about funding.

TfL now confirms that the West London Alliance has commissioned feasibility work for the scheme. Meanwhile, TfL is considering options for a Borough Community Infrastructure Levy to help pay for it and has been investigating development opportunities on the route that could unlock funds via Section 106 planning obligations and Carbon Offset funding.

Conclusion

It does appear there are ways and means to fund these schemes, without expecting the rest of the UK to fund London’s transport network.

June 18, 2022 Posted by | Finance & Investment, Transport/Travel | , , , , , , | 5 Comments

A French Banker’s View Of The French Police

After the violence at the weekend in Paris, I am reminded of a meeting with a French banker.

 

Many years ago, I used to do business with a French banker; Andre, who lived and worked in Geneva.

Whether, there had been an excess of violence by French police at the time, I can’t remember, but in a restaurant in Geneva we got talking about the different between French police and other forces in Europe. Andre stated that if you join the French police, you immediately lose all your friends, as no-one wants a policeman as a friend, such is the distrust of the police.

Andre had worked all over Europe, and felt that only in France, is there this attitude to the police.

Does this closed society of the French police lead to them going over the top, as they regularly seem to do?

I’d love to know what the French police think of refugees! I wonder, if they see them as a supreme nuisance and feel the sooner, they have left French soil the better.

May 30, 2022 Posted by | Finance & Investment, Sport, World | , , , | 2 Comments