Wood, a global leader in consulting and engineering, has been awarded a significant engineering services contract by Aramco for the Southern and Northern Areas gas increments project in Saudi Arabia. This multi-year project, which is expected to require approximately one million engineering hours, will support the country’s efforts to increase natural gas production. Wood will provide project management consultancy (PMC) services, including pre-FEED and FEED engineering for large-scale onshore gas production and processing facilities in Eastern Saudi Arabia. The company will also support EPC contracting for future phases of the project. Craig Shanaghey, Wood’s Executive President of Projects, commented, “Natural gas is a crucial transition fuel that can significantly reduce carbon emissions associated with energy production. We are proud to leverage our 30-year partnership with Aramco to support this important expansion project. The Southern and Northern Areas gas increments will help meet the growing global demand for energy and efficiency.” The seven-year project will involve a team of over 400 Wood employees based in Al-Khobar, Saudi Arabia, Reading, UK, and Chennai, India.
Air Liquide and Cementir Holding Group, through its fully owned subsidiary Aalborg Portland, have announced the launch of ACCSION, a groundbreaking carbon capture and storage (CCS) project. Located in Aalborg, Denmark, ACCSION aims to significantly reduce CO₂ emissions from the Aalborg Portland cement plant. The project will utilize Air Liquide’s proprietary CryocapTM technology to capture, purify, and liquefy approximately 95% of the CO₂ emitted by the cement kilns. The captured CO₂ will then be integrated into a new pipeline infrastructure and transported to onshore CO₂ storage facilities. By the end of 2029, ACCSION is expected to avoid 1.5 million tons of CO₂ emissions per year of operation. This will make it one of the first full onshore CCS value chains in Europe, demonstrating a significant step towards decarbonizing the cement industry. The European Commission has recognized the importance of this project by awarding it 220 million euros in project support under the EU Innovation Fund. This funding will be instrumental in making a final investment decision and initiating the project’s execution. This collaboration between Air Liquide and Cementir Holding Group highlights their commitment to driving innovation and sustainability in the industrial sector. By reducing CO₂ emissions from cement production, ACCSION…
Iberdrola, a global energy leader, has successfully issued a £500 million green bond in the UK market. This marks Iberdrola’s largest sterling bond issuance since 2009 and its first-ever green bond in sterling. The strong demand for the bond, exceeding £2.1 billion, allowed Iberdrola to reduce the spread over the reference interest rate to 95 basis points, a significant reduction from the initial 125 basis points. The coupon has been set at 5.25%, attracting the interest of over 140 investors, particularly those committed to Environmental, Social, and Governance (ESG) principles. The proceeds from the green bond will be used to finance future renewable energy investments in the United Kingdom. This issuance further solidifies Iberdrola’s position as a leading player in the global renewable energy sector. Iberdrola’s active presence in the capital markets has been evident in 2024, with six public transactions completed so far. These transactions have included bond issuances in euros, Swiss francs, and US dollars, demonstrating the company’s strong financial position and investor confidence. By diversifying its funding sources and accessing the UK market, Iberdrola aims to strengthen its financial flexibility and support its ongoing growth strategy.
Elevate Uranium Ltd (ASX: EL8) (“Elevate Uranium” or “the Company”) is pleased to announce that it has received binding commitments for a two-tranche placement of fully paid ordinary shares (“New Shares”) to raise $25 million (before costs) at $0.325 per New Share (“Placement”). Approximately 32.4 million New Shares will be issued immediately under Tranche 1 of the Placement utilising the Company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A. The issue of a further approximately 44.5 million New Shares under Tranche 2 of the Placement is subject to shareholder approval which will be sought at a general meeting expected to be held in early December 2024(“General Meeting”). The Company is also pleased to receive strong support from one of the strategies of leading Australian fund manager, Paradice Investment Management Pty Ltd (“Paradice”). Paradice has committed to subscribe for New Shares in the Placement resulting in a pro-forma holding of 9.9% (~$12.4M) in Elevate Uranium on completion of the Offer. The Placement also introduced a number of new, high quality institutional, sophisticated and professional investors to the share register, whilst also being well supported by existing significant shareholders of the Company. Discovery Capital Partners, Cumulus Wealth and Wallabi Group…
A pioneering project led by the University of Glasgow, University of Strathclyde, West of Scotland Housing Association, and Glasgow City Council is exploring the potential of electric wallpaper as a clean heat source for Scotland’s homes. Funded by Scotland Beyond Net Zero, the project aims to address the high carbon footprint of Scotland’s homes, which are among the oldest and worst insulated in Europe. Heating buildings accounts for a significant portion of Scotland’s carbon emissions, and gas central heating is the predominant heating system. The electric wallpaper technology, which utilizes Internet-of-Things and AI-enabled data analytics, is being piloted in 12 tenement properties managed by West of Scotland Housing Association. The technology collects information on efficiency, comfort, and tenant feedback to assess its viability as a replacement for traditional gas heating. “We have been trialling this technology for a few months now and have had excellent feedback from our tenants,” said Andrew Kubski, Director of Development and Asset Management for West of Scotland Housing Association. Councillor Ruairi Kelly, Convener for Neighbourhood Services and Assets at Glasgow City Council, emphasized the importance of finding new solutions to heat Glasgow’s tenement flats efficiently. “Innovative pilot projects like this are crucial for achieving a…
President Shavkat Mirziyoyev got acquainted with the presentation of projects for the production of electricity from solid waste. Uzbekistan generates 14 million tons of waste annually. However, only 4-5 percent of it is recycled. More than 7 million tons of greenhouse gases and 43 thousand tons of toxic leachates generated at waste landfills are emitted into the atmosphere and penetrate the soil. By recycling waste, it is possible to both reduce its impact on nature and make a profit. For this purpose, the Ministry of Ecology, Environmental Protection and Climate Change, together with foreign investors, has developed a number of projects. It is planned to build 8 waste incineration plants and process landfill gas at the Akhangaran landfill, investing about $1 billion 300 million. For example, two plants will be built in Andijan and Tashkent provinces through direct investment of $350 million by the Chinese company “CAMC Engineering”. They will process 4 thousand tons of waste per day and generate 630 million kilowatt-hours of electricity per year. Another Chinese company, “Shanghai SUS Environment|, has also shown interest in this area. It plans to invest $310 million in direct investments and build two plants in Samarkand and Kashkadarya regions. They will…
Tonga Power Limited (TPL) and the Japan International Cooperation Agency (JICA) have joined forces to enhance grid operations on Tongatapu Island. The project aims to strengthen the Kingdom of Tonga’s renewable energy infrastructure and promote sustainability. The collaboration will address challenges within the existing energy management system (EMS) and micro-grid systems (MGS), ensuring efficient integration of renewable energy sources. This initiative will provide critical upgrades to monitoring and control systems, contributing to the reduction of greenhouse gas emissions. Key Activities: This partnership builds upon JICA’s previous support for Tonga’s energy sector, including the installation of solar and wind power generation systems. By addressing both technical and infrastructure needs, this project will enable Tonga to increase its reliance on renewable energy and achieve its national goals of energy independence and climate resilience. Mr. Finau Moa, CEO of Tonga Power Limited, stated: “This collaboration with JICA is a critical step forward in ensuring that Tonga’s energy infrastructure can support its ambitious renewable energy targets. We are excited to strengthen our grid operations and make substantial progress towards a sustainable future.” Ms. Rika Uemura, JICA Resident Representative, stated: “We are proud to partner with TPL in this project, which demonstrates the strength of…
Scatec ASA, a renewable energy provider, has reached financial close for the Mogobe battery energy storage system (BESS) facility in South Africa. The project is part of the country’s Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP). Scatec secured a 15-year power purchase agreement (PPA) with the National Transmission Company of South Africa (NTCSA) to provide storage capacity for grid balancing. The estimated total capex for the project is ZAR 3.0 billion (USD 170 million), with Scatec’s EPC contracts accounting for approximately 83%. The project will be financed by ZAR 2.7 billion (USD 154 million) of non-recourse project debt, with Standard Bank of South Africa as the mandated lead arranger. The remaining equity will be provided by Scatec (51%), Perpetua Mogobe (RF) (Pty) Ltd (46.5%), and a holding company of the Mogobe Local Community Trust (2.5%). Scatec will serve as the engineering, procurement, and construction (EPC) provider, as well as providing operations & maintenance (O&M) and asset management (AM) services for the project. “This marks a new milestone for Scatec in South Africa and for the renewable energy transition in the country. The Mogobe BESS project is a first of a kind and reaffirms our standing as a leading…
The Department of the Interior has announced significant strides in expanding geothermal energy on public lands, an abundant clean energy resource with tremendous potential to help the country meet the Biden-Harris administration’s goal of a carbon pollution-free power sector by 2035. The Department announced that the Bureau of Land Management (BLM) has approved the Fervo Cape Geothermal Power Project in Beaver County, Utah, which will use innovative technology to generate up to 2 gigawatts (GW) of baseload power that, if fully developed, is enough to supply over 2 million homes. With this approval, the BLM has now approved nearly 32 gigawatts of clean energy projects on public lands, including 42 projects approved under the Biden-Harris administration. The BLM is also proposing a new categorical exclusion to facilitate geothermal energy resources confirmation on public lands. These actions come as the BLM hosted the biggest geothermal lease sale in more than 15 years. “Geothermal energy is one of our greatest untapped clean energy resources on public lands,” said Principal Deputy Assistant Secretary for Land and Minerals Management Dr. Steve Feldgus. “Today’s actions are part of the Department’s work to deliver on new opportunities, new technologies, and new solutions in geothermal energy that support…
Japan has made a significant investment of $43 million in Ecuador’s Chachimbiro geothermal project, a key step towards diversifying the country’s energy sources and enhancing its energy independence. The Chachimbiro project, located in the Imbabura province, involves the development of a 50-MW geothermal power plant. This project is crucial for Ecuador’s transition to renewable energy and will contribute to the country’s efforts to reduce dependence on hydroelectric power. The investment was formalized at a ceremony in Quito attended by high-level officials from Ecuador and Japan. This collaboration underscores the importance of diversification within Ecuador’s energy portfolio. Key Benefits of the Chachimbiro Project: The Chachimbiro project will reduce Ecuador’s reliance on hydroelectric power, providing greater stability and consistency in electricity supply. The project will save Ecuador approximately $147.9 million in its first ten years of operation through reduced reliance on fossil fuels. The project supports Ecuador’s commitment to cutting greenhouse gas emissions and aligns with global climate goals. The project may lead to local employment opportunities and facilitate the transfer of advanced technologies. The Chachimbiro project is technically and financially supported by the Japan International Cooperation Agency (JICA), which ensures that the development adheres to international sustainability standards. JICA’s involvement includes…
