Tag Archives: Royal Dutch Shell Plc

Shell Acquires Majority Stake in the Celtic Sea Floating Wind Farm

Posted on by
Reply

By Laura Hurst (Bloomberg) —

Royal Dutch Shell Plc agreed to buy a 51% stake in an Irish project to develop a floating wind farm in the Celtic Sea.

Simply Blue Energy’s Kinsale venture will develop the Emerald floating wind farm, with 300 megawatts of capacity initially and the potential to scale up to 1 gigawatt. The companies didn’t disclose the value of the deal.

Shell divested its upstream oil and gas assets in Ireland in 2018, but the new acquisition falls into a growing list of investments in renewable and low-carbon assets designed to help the company achieve climate goals set out last year. Earlier this week, the Anglo-Dutch supermajor bought the U.K.’s largest public electric vehicle charging network, while at the beginning of the month it invested in a waste-to-fuels plant in Canada.

“This project could provide green power to consumers and businesses alike and contribute towards Shell’s ambition to be a net-zero emissions business by 2050, or sooner,” Collin Crooks, Shell vice president for offshore wind, said in a statement.

The project will also help the Irish government meet its climate target of 5 gigawatts of offshore wind by 2030, Simply Blue Energy CEO Sam Roch-Perks said.

Shell has been involved in offshore wind since 2000 and has more than 6 gigawatts of wind projects in development, according to its website. Its wind assets are mostly in The Netherlands and the U.S.

Total Enters Giant Korean Floating Wind Projects in Green Push

Posted on by
Reply

offshore wind

By Francois de Beaupuy (Bloomberg) — Total SE will team up with Macquarie Group’s bank to develop more than 2 gigawatts of floating wind farms off South Korea, the latest push by the French oil and gas giant to diversify into clean energy.

Total and European peers such as Royal Dutch Shell Plc and BP Plc have vowed to reduce their exposure to fossil fuels and trim emissions as governments, consumers and investors demand increased efforts to tackle global warming. Floating wind parks at the scale planned by Total — dwarfing current sites — will be key to bringing down the cost of the emerging technology.

The French major and Macquarie’s Green Investment Group will develop five floating wind farms off the eastern and southern coasts of South Korea, Total said in a statement on Tuesday. They plan to start building the first 500-megawatt project by the end of 2023. That compares with the 30 megawatts of capacity at Equinor ASA’s Hywind site off Scotland, the biggest operating floating wind project so far.

The plan is “in line with Total’s strategy to profitably develop renewable energy worldwide and contribute to our net-zero ambition,” Chief Executive Officer Patrick Pouyanne said in the statement. “Thanks to its extensive experience in offshore projects, in cooperation with many Korean shipyards, Total is particularly well-positioned to contribute to the successful development of this new technology.”

Developers have recently started to test large floating wind turbines, aiming to install them in areas that lack shallow waters, where traditional offshore turbines can be anchored to the seabed. Total itself took a majority stake in a floating wind project off Wales this year, reflecting its commitment to invest in the technology while tapping its experience developing oil and gas offshore.

The total has also stepped up spending on renewable energy more broadly, with investments this year in large solar developments in India and Qatar, a giant wind farm in the North Sea, and growth in clean power in Spain and France. The company aims to have stakes in at least 25 gigawatts of renewable generation capacity in 2025, up from more than 5 gigawatts currently.

Total didn’t discuss funding of the Korean wind farms in its statement.

Wind Turbine Behemoth Plans for Hydrogen Future

Posted on by
Reply
offshore wind turbine

By William Mathis and Laura Millan Lombrana (Bloomberg) — Siemens Gamesa Renewable Energy SA has one eye on the future where its wind turbines could play a key role in creating hydrogen.

The company, which earlier this year launched the world’s biggest wind turbine, plans to start a pilot project in Denmark to test how its machines could power production of the fuel seen as key to eliminating carbon emissions from transportation and heavy industries. The European Union has big plans for the clean-burning gas and the bloc placed it at the centre of its Green Deal earlier this year.

The pilot project is under construction near Siemens Gamesa’s Danish headquarters in Brande, western Denmark, Chief Executive Officer Andreas Nauen said in an interview on Thursday. It will include a 3-megawatt wind turbine that will power a 400-kilowatt electrolyzer, a machine that separates the hydrogen atoms in water from oxygen atoms, “We will be for the first time combining the two technologies,” said Nauen, who took over as CEO in June after leading the company’s offshore division. “It is not to produce hydrogen in big quantities, but to test the combination of both.”

It could be a compelling model. Danish utility Orsted A/S is already exploring a number of hydrogen projects for its wind farms and Royal Dutch Shell Plc plans to produce the gas from a park it’s going to build off the Dutch coast. Making and selling hydrogen could provide a new source of revenue for wind projects that would offset the risk in the sometimes volatile electricity market.

BNEF projections of the cost of producing green hydrogen, when compared with hydrogen derived from natural gas.
No one before has used wind power alone, without a grid connection, to produce hydrogen, Nauen said. It’s a project that will provide insight that could be crucial to scaling up the technology too much larger turbines and wind farms both on land and at sea.

Earlier this year, Siemens Gamesa announced plans to build a 14-megawatt offshore turbine with a rotor diameter of 222 meters (728 feet), a few meters larger than the previous record.

The company expects to conduct testing at the hydrogen pilot from October to December and then start hydrogen production in January. A Danish hydrogen fuel company called Everfuel will distribute the gas for vehicles including taxis and buses to use in Copenhagen.

European governments aim to spend billions of dollars to help nurture domestic industries to produce hydrogen. The funding could help scale production and bring down costs.

Offshore Experience

Siemens Gamesa is currently at a similar stage with hydrogen as it was a few years ago with offshore wind, Nauen said.

The executive has worked in offshore wind for more than a decade and has seen how the industry went from being a niche market using turbines designed for land use into a multi-billion-dollar industry with tailor-made machines the size of skyscrapers. Hydrogen could follow a similar trajectory if companies figure out an economical way to produce it. If it takes off, hydrogen will change the whole energy landscape, he said.

“I could imagine maybe it goes a little faster now, but it’s way too early,” Nauen said. “All the money that you currently see coming into this business is about making sure the technology works.”

The company has a team working on hydrogen that’s spread across all of Siemens Gamesa’s divisions. In the future, the company could sell wind farm developers hydrogen equipment along with its turbines, Nauen said. But he doesn’t expect any large-scale wind-hydrogen project until around 2025.

© 2020 Bloomberg L.P.