EU Unveils Reforms to Curb Electricity Price Spikes, Boost Renewables

The European Union has approved new electricity market regulations designed to mitigate price surges, safeguard consumers and businesses, and accelerate the transition to clean energy. The revised framework empowers governments to cap prices during times of crisis and promotes investments in renewable and nuclear power. The reforms aim to enhance energy security, affordability, and transparency in the EU’s internal market.

EU Establishes Framework for Hydrogen Market Development, Aiming for 10 Million Tonnes of Green Hydrogen Production by 2030

Member states have approved the creation of a unified hydrogen operator, marking a significant milestone in the development of a robust EU hydrogen market. This move aims to promote the utilization of renewable and low-carbon gases in the energy system and aligns with the goal of producing 10 million tonnes of green hydrogen within the EU by 2030. The regulations mandate comprehensive network planning and oversight by ACER, while national governments are tasked with incorporating the rules into their domestic frameworks within two years. Key markets such as France, Germany, and Poland are expected to play a pivotal role in hydrogen production, although the EU remains committed to phasing out hydrogen derived from natural gas.

Sungrow and Larsen & Toubro Team Up for Saudi Arabia’s Flagship AMAALA Destination

Sungrow, a leading provider of PV inverters and energy storage systems, has partnered with Larsen & Toubro to supply 165MW of PV inverters and 160MW/760MWh of energy storage systems for AMAALA, an exclusive destination in Saudi Arabia. This partnership aligns with Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative, driving sustainable energy development. AMAALA aims to be the world’s second-largest off-grid energy storage facility, providing continuous, zero-emission green power. It will not only contribute to Saudi Arabia’s carbon neutrality goals but also stimulate the local economy.

Huasun Energy Wins Significant Bid for China Datang’s 1GW n-Type Heterojunction PV Module Procurement

Huasun Energy has secured a major bid for China Datang Corporation Ltd.’s centralized procurement of 1GW n-type heterojunction (HJT) photovoltaic (PV) modules for 2024-2025. This achievement highlights Huasun’s advanced HJT technology and strong delivery capabilities. The PV industry is witnessing a shift towards n-type technology, and HJT is gaining prominence with its high power output and conversion efficiency. Huasun, with its established production capabilities and continuous breakthroughs in module power and cell efficiency, has secured significant bids from state-owned enterprises, including China Huaneng Group Co., Ltd. and China Green Development Investment Group. Huasun’s success reflects its technical strength, production capacity, and commitment to innovation and quality, driving the progress of HJT and industry development.

Microgrids: Revolutionizing Sustainable Aviation in India

As India’s aviation sector witnesses a rapid increase in air travelers, accompanied by the challenges of accommodating the surge and addressing climate change impacts, airports are turning to microgrid technology to ensure continuous, localized, and self-reliant power supply. Microgrids offer a robust solution for making the aviation industry more resilient and sustainable, transforming airports into green energy hubs by integrating renewable energy sources like wind and solar, leading to an environmentally friendly and energy-efficient future.

Transformers Market for Renewable Energy to Grow at 4.65% CAGR by 2028

The transformers market for renewable energy is projected to grow significantly, driven by the increasing adoption of renewable energy sources worldwide. These transformers are used to convert and manage the electrical energy generated from renewable sources such as solar, wind, and hydro. The market is expected to grow at a compound annual growth rate (CAGR) of 4.65% from 2024 to 2028.

Johnson Matthey Selected as Methanol Licensor for HIF Global’s Uruguayan eFuels Project, the Largest in Latin America

Johnson Matthey (JM), a global leader in sustainable technologies, has been selected by HIF Global, the world’s leading eFuels company, as the methanol licensor for HIF Global’s Paysandú eFuels project in Uruguay. The facility will be the largest e-methanol plant in Latin America and will use electrolytic (green) hydrogen and waste CO2 from an ethanol plant to produce e-methanol, which enables the production of a lower carbon fuel versus traditional methanol. The e-methanol will be utilized to support the growing demand from the marine market and as a feedstock to produce e-gasoline, facilitating the decarbonization of over 150,000 vehicles. The collaboration builds on the successful demonstration of the technology in HIF Haru Oni eFuels facility, where JM licenses its technology and supplies the catalyst. HIF Global will invest in the facility, making it the most significant investment in Uruguayan history. Construction is planned for 2025 and is expected to create approximately 1,500 jobs during construction and 300 permanent operational positions.

Thermal Energy Storage Market to Grow at CAGR of 9.61% from 2024-2028

The global thermal energy storage market is expected to grow from 2024-2028, with a CAGR of almost 9.61%. This growth is due to the increasing demand for renewable electricity capacity, investments in renewables, and the need to meet Paris Climate targets. Thermal energy storage systems play a crucial role in the renewable energy sector, particularly in addressing the intermittency challenges of solar and wind power. These systems enable the conversion of excess renewable energy into heat, which can be later used for power generation during peak demand or supply chain disruptions.

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