Weekly Energy Video – Week 2 July 2024: SoCal Ed Contracts for 320 MW of Cutting Edge Geothermal

Enhanced geothermal company Fervo announces 320 MW deal to supply energy to Southern California Edison from its 400 MW plant under development in Utah. First 90-MW by 2026 with remainder by 2028.

Bureau of Ocean Energy Management (BOEM) approves 2,800 MW Atlantic Shores Offshore Wind South Project being developed by Shell and EDF Renewables off NJ. BOEM also okays Construction and Operations plan of Iberdrola’s New England Wind 1 and 2 off MA, totaling 2,600 MW.

German clean energy asset manager, Luxcara, signs supplier deal with China’s Mingyang Smart Energy for 16 x 18.5 MW capacity wind turbines up – the largest to date in the world – supporting its German North Sea Waterkant project.

District energy company Vicinity Energy announces long-term renewal of partnership with Boston’s Emerson College, with Emerson converting 100% of its heating operations to Vicinity’s carbon-free thermal energy solution, eSteam.™ Vicinity uses electric boilers powered by renewables, tied to existing network of steam pipes, electric substations, and transmission.

Volkswagen to create JV with struggling EV OEM Rivian, pouring $1 billion into the company with up to $4 billion added through 2026 if certain targets are met. $3 billion will be direct investment, with remaining $2 billion tied to the JV and background intellectual property.

Rhode Island passes Energy Storage Systems Act, setting energy storage procurement goals and requiring state electric utility to develop a tariff valuing services provided by storage resource. 90 MW of storage to be installed through 2026; 195 MW through 2028; and 600 MW by 2033.

China’s state-owned power generation enterprise Datang Group commissions a 50 MW/100 MWh sodium-ion battery energy storage, making it the world’s largest to date.

Construction begins on gigawatt-scale green hydrogen/ammonia project in northern China, with estimated 1,000 MW of alkaline electrolyzers to be fueled by 1,250 MW of new wind power and 1,150 MW of solar, at a cost of $US 2.6 bn Project to yield 90,000 tons of green hydrogen annually, used to make 500,000 tons of green ammonia.