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The Dutch government has granted funding to BP and HyCC’s proposed 250MW green hydrogen project, H2-Fifty, in Rotterdam. This follows the European Commission’s recognition of H2-Fifty as an Important Project of Common European Interest for its contribution to decarbonizing European industries. The green hydrogen produced by the project will be used to reduce CO2 emissions from refineries, steel production, aviation, and shipping.

HyCC Chief Executive Stijn van Els expressed his gratitude for the support and recognition of H2-Fifty, saying it will help scale up the production of green hydrogen to achieve a net-zero economy. Karen de Lathouder, BP Chief Executive for the Netherlands added that H2-Fifty is part of BP’s mission to reimagine energy and they are looking forward to collaborating with HyCC and the Ministry of Economic Affairs and Climate Policy on this project.

Summary

• BP and HyCC’s proposed 250MW green hydrogen project in Rotterdam, H2-Fifty, has been selected by the Dutch government to receive grant funding.
• H2-Fifty proposes to produce green hydrogen that will be used to help decarbonize industry and heavy transport in the region.
• BP and HyCC are collaborating with the Ministry of Economic Affairs and Climate Policy to realize Dutch green hydrogen ambitions.

What are the goals of H2-Fifty and how does it contribute to decarbonizing European industries?

The goal of H2-Fifty is to produce green hydrogen that will be used to decarbonize industry and heavy transport in the region, contributing to the European Commission’s vision of a net-zero economy./n
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Picture source: Stijn Hanegraaf

Bluefield Solar has recently acquired an operational solar portfolio from Fengate Asset Management, with a capacity of over 46 megawatts. The portfolio consists of two ground mounted solar photovoltaic farms; the 39.3 megawatt Raventhorpe plant located in Scunthorpe, Lincolnshire and the 7.1 megawatt Roanhead facility located in Barrow-in-Furness, Cumbria.

The enterprise value of the portfolio is £56 million, which includes all cashflows from May 2022. Both sites are accredited under the Renewable Obligation Certificate (ROC) regime with a tariff of 1.4 ROCs. It is estimated that between 2022 and 2035, approximately 60% of revenues will come from contracted and regulated sources.

With this acquisition, Bluefield Solar’s total installed capacity has grown to 813 megawatts. John Scott, Chairman of Bluefield Solar said: “We are pleased to have acquired this high-quality portfolio of operating assets from Fengate Asset Management. This portfolio contains a large proportion of contracted and regulated revenues which adds to our existing development pipeline for new build solar and storage projects.“

Summary

• Bluefield Solar has acquired an operational solar portfolio with a capacity of over 46MW.
• The enterprise value of the portfolio is £56m, including the economic benefit of all cashflows from May 2022.
• In the period 2022 to 2035, the proportion of contracted and regulated revenues from the portfolio is projected to be approximately 60%.

What is the total installed capacity of Bluefield Solar following the acquisition?

Following the acquisition, the total installed capacity of Bluefield Solar’s portfolio is 813MWp./n
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Picture source: Ronnie George

The European Investment Bank (EIB) and Iberdrola have joined forces to promote Portugal’s energy transition by developing new renewable energy plants. The EU bank has provided a €70m green loan for the construction of a portfolio of projects with an overall capacity of 188MW. These solar PV plants, located in the Portuguese regions of Algarve, Centro, Alentejo and Lisbon, will generate enough electricity to meet the average consumption needs of more than 65,000 households.

In addition to the solar power plants, the financing package also includes infrastructure such as access roads, substations and interconnections. The total investment is estimated at €150m. EIB Vice-President Ricardo Mourinho Felix commented: “This project is a great example of how the EIB – Europe’s climate bank – can work together with Iberdrola – a global leader in renewables – to support Europe’s green recovery and energy security.“ Jose Sainz, Iberdrolas Chief Financial Officer added: „This collaboration with the EIB is an important step forward for our projects in Portugal. It reinforces our commitment to reducing our dependence on fossil fuels through increased use of renewable energy sources.“

Summary

• The EU bank will provide a €70m green loan for the construction of a portfolio of projects with a total capacity of around 188MW.
• The financing will go to five solar PV plants and their connections to the grid, located in the Portuguese regions of Algarve, Centro, Alentejo and Lisbon.
• These new facilities will produce green and competitive energy equivalent to the average consumption of more than 65,000 households.

What projects are being funded by the new agreement between the European Investment Bank (EIB) and Iberdrola?

The projects being funded by the new agreement between the European Investment Bank (EIB) and Iberdrola are five solar PV plants and their connections to the grid, located in the Portuguese regions of Algarve, Centro, Alentejo and Lisbon.
Picture source: Christian Wiediger

The markets are reacting strongly to the news that America’s gross domestic product (GDP) is growing at a healthy rate. In summary, the markets have reacted positively to the news of strong economic growth in the United States.

Understanding GDP

Gross Domestic Product (GDP) is a measure of the value of all goods and services produced by an economy in a given period of time. It is one of the most widely used indicators to measure the economic health of a nation, as it provides an indication of the total output of goods and services within a country. GDP is also used to compare economic performance between countries, as well as to track changes in living standards over time. By understanding GDP, economists can better assess the overall strength and stability of an economy.
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Picture source: Richard Horvath

The Ministry of New and Renewable Energy is supporting research, development, and demonstration projects for the development of vehicles that run on hydrogen fuel. The Council for Scientific and Industrial Research through the National Chemical Laboratory has also undertaken RD&D projects on hydrogen fuel cell vehicles. These technologies are still in the pilot stage of development and cost estimates and timelines for setting up this industry are currently not available. This information was given by Shri R.K Singh, Union Minister for Power and New and Renewable Energy in a written reply to Rajya Sabha today. In summary, research is being done to develop vehicles that run on hydrogen fuel, but it is still in its early stages with no cost estimates or timelines available yet.

Environmental Benefits of Hydrogen Fuel

Hydrogen fuel is a clean and renewable energy source that can help reduce carbon emissions. Unlike fossil fuels, hydrogen fuel does not produce any harmful pollutants when burned. In addition to its environmental benefits, hydrogen fuel can also be used in a variety of applications, from powering vehicles to providing energy for homes and businesses. Moreover, the production of hydrogen fuel is relatively inexpensive compared to other forms of energy. This makes it an attractive option for those looking to reduce their carbon footprint while still enjoying the convenience and comfort of modern living.
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Picture source: Federico Beccari

Nel ASA’s subsidiary, Nel Hydrogen Inc., has signed a Capacity Reservation Agreement (CRA) with an undisclosed US energy company for the delivery of 16 hydrogen fueling stations. The value of the CRA is estimated to be around $7 million, and the final purchase order including the CRA fee is expected to be around $17 million. Manufacturing of the equipment will begin when a final purchase order is signed, and delivery is scheduled to start in Q4 2023 and continue throughout 2024. In summary, Nel Hydrogen Inc. has agreed to provide 16 hydrogen fueling stations to an undisclosed US energy company for a total estimated cost of $17 million.

Hydrogen as a Renewable Fuel Source

Hydrogen is quickly becoming an important renewable energy source due to its abundance and versatility. It can be used in fuel cells to generate electricity, and burned in internal combustion engines for transportation. Hydrogen can also be used in homes and businesses to heat water, cook food, and provide other forms of energy. Hydrogen-powered vehicles are now available from many major car manufacturers, making them more accessible than ever before. In addition, hydrogen is a clean-burning fuel that produces no emissions when burned, making it an ideal choice for reducing air pollution. With its many benefits, it’s no wonder hydrogen is becoming an increasingly popular renewable energy source.
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Picture source: Ronnie George

In this article, BBC Environment Correspondent Jonah Fisher discusses a proposed trial in Whitby, England to convert 2,000 homes from natural gas to hydrogen. Residents are concerned about the safety of the hydrogen and feel like they are being treated like guinea pigs. The government and gas companies say that although hydrogen is more explosive than natural gas, additional measures will be put in place to make it as safe. However, experts have expressed their doubts about this. If the trial goes ahead, residents will be provided with free appliances and supplied with hydrogen at the same price as natural gas for two years. Some residents are supportive of this proposal as they believe it will benefit the environment.

The Importance of Safety

Safety is an important consideration in all areas of life, from the workplace to the home. It is essential to ensure that safety protocols are followed in order to protect both people and property. This includes following proper safety guidelines when operating machinery or equipment, using protective gear when necessary, being aware of potential hazards, and maintaining a safe environment by regularly inspecting for potential risks. Taking these steps can help reduce the chances of accidents and injuries, making it easier to enjoy everyday activities without having to worry about danger.
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Picture source: Tommy Krombacher

The markets are reacting strongly to the news of America’s strong Gross Domestic Product (GDP) reading. In short, the US economy is doing well and investors are responding positively.

GDP and the Global Economy

Gross Domestic Product (GDP) is a measure of the value of goods and services produced in an economy over a given period of time. It is one of the main indicators used to gauge the health of a country’s economy. GDP is also used to compare different countries and their economic performance, as it provides information about national income, output, and expenditure. As such, changes in GDP can have significant impacts on global markets and economies. For example, when a country’s GDP increases, it can lead to increased trade opportunities for other countries, which in turn can help stimulate economic growth around the world.
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Picture source: Richard Horvath

The markets are reacting strongly to the positive news that America’s Gross Domestic Product (GDP) has increased significantly. In summary, the markets are responding positively to the fact that America’s economy is growing at a rapid rate.

The Impact of GDP

GDP, or Gross Domestic Product, is an important economic indicator that measures the value of goods and services produced in a country over a certain period of time. It is used to measure the size and health of an economy, as well as its growth rate. GDP can also be used to compare the economic performance of different countries. Changes in GDP can have a major impact on a country’s citizens, including their standard of living and access to resources. Therefore, it is important for governments to understand how changes in GDP affect their citizens and take action accordingly.
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Picture source: Terry Vlisidis

The markets are reacting with shock and surprise to the news that America’s GDP reading was much higher than expected. In summary, strong economic performance in America has caused a stir in the markets.

GDP and Economic Growth

Gross Domestic Product (GDP) is a key indicator of economic growth. It measures the total value of goods and services produced in a country over a given period of time. GDP is used to gauge the health of an economy and as an indicator of its standard of living. A higher GDP generally indicates that people are earning more, which means they have more money to spend on goods and services. This leads to increased economic activity, which then increases GDP further.
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Picture source: Tommy Krombacher