Energy/Automotive News Nov. 28, 2023| WTI Crude @ $75.68/bbl, Brent @ $80.82/bbl
London, 28 November, 2023, (Oilandgaspress): – The Yancheng Low-Carbon & Smart Energy Industrial Park Project, jointly completed by Huawei and State Grid, was the only Chinese project to receive this award. The award recognizes the outstanding contributions made by the Yancheng Power Supply Company of State Grid Jiangsu and Huawei Electric Power Digitalization BU in areas of energy transition and green and sustainable development. Birgit Murr, Commercial Consul and Acting Head of the Austrian Consulate General in Guangzhou and award presenter, stated that “the Yancheng Low-Carbon & Smart Energy Industrial Park Project has garnered international recognition as a model for global carbon neutrality and sustainable development”.Hosted by the independent Global Energy Foundation from Austria and co-sponsored by international organizations like the UN Industrial Development Organization (UNIDO) and the Austrian Federal Ministry of Climate Action, the award was presented to a select few narrowed down from over 1000 projects.
Top global energy experts made their selection over the course of several rounds to find the best candidates. Read full article
During the first Airports Innovate Exhibition, which takes place from November 20 to 22 in Muscat, Oman, Huawei launched a series of brand-new smart airport solutions for international markets, including the Fully Connected Fiber Network Solution and Smart Airport Perimeter Security with Fiber Sensing Solution. These innovative scenario-based solutions will serve its customers all over the world.
Relying on its edge in the Fixed 5G(F5G) sector, Huawei introduces “IP + optical” dual-technology convergence to its Fully Connected Fiber Network for the first time. It supports efficient access across multiple types of network, creates dual planes — backbone 100G transmission and services, and helps build a highly reliable data center network, laying a solid foundation for smart airport construction. Compared with traditional IP networks, the Fully Connected fiber Network has the following advantages:
Converged bearer: With a reliable bearer, multiple services do not interfere with each other thanks to the hard isolation between them, ensuring reliable transmission and the stable running of airport services. The network delivers wireless office and production with seamless network access anytime and anywhere, requires 60% fewer wired information points, makes video conferences smooth, and improves collaboration efficiency by 30%.High reliability: Active devices are replaced with passive ones using optical access technology. The simplified two-layer architecture delivers higher reliability. Read full article
To help deliver the European Green Deal the European Commission is proposing an Action Plan to make sure our electricity grids will operate more efficiently and will be rolled out further and faster. The Commission has already put in place a supportive legal framework for the rollout of electricity grids across Europe. With the EU markets fully integrated, a modernised infrastructure network will ensure citizens and business can benefit from cheaper and cleaner energy.
Electricity consumption in the EU is expected to increase by around 60% between now and 2030. Networks will have to accommodate a more digitalised, decentralised and flexible system with millions of rooftop solar panels, heat pumps and local energy communities sharing their resources, more offshore renewables coming online, more electric vehicles to charge, and growing hydrogen production needs. With 40% of our distribution grids more than 40 years old and cross-border transmission capacity due to double by 2030, €584 billion in investments are necessary.
An Action Plan to address the missing links of the clean energy transition Read full article
The European Commission is taking another step to make the EU’s energy system fit for the future by adopting the first list of Projects of Common Interest (PCIs) and Projects of Mutual Interest (PMIs) that is fully in line with the European Green Deal. These key cross-border infrastructure projects will help the EU reach its ambitious energy and climate goals. The projects will benefit from streamlined permitting and regulatory procedures, and become eligible for EU financial support from the Connecting Europe Facility (CEF).
This list is adopted under the revised Trans-European Networks for Energy Regulation (TEN-E) which ends support for fossil fuel infrastructure and focuses on cross-border energy infrastructure of the future. It includes PCIs, which are projects within the EU territory, and for the first time PMIs, which connect the EU with other countries. The Commission will ensure the projects are swiftly completed and can contribute to doubling the EU’s grid capacity by 2030 and meeting its 42.5% renewable energy target.
Out of the 166 selected PCIs and PMIs:
over half (85) are electricity, offshore and smart electricity grid projects, with many expected to be commissioned between 2027 and 2030.
for the first time, hydrogen and electrolyser projects (65) are included, which will play a major role in enabling energy system integration and the decarbonisation of EU industry. the list also includes 14 CO2 network projects in line with our goals to create a market for carbon capture and storage. Read full article
European Investment Bank lends €250 million to Sorégies Group under InvestEU to speed up its energy transition
This integrated energy company is active across the entire energy value chain and will receive a second loan of €250 million from the European Investment Bank (EIB) following a maiden operation carried out in 2017.
The financing will be used to deploy Sorégies’ €500 million investment plan for 2024-2026 promoting renewable energy and modernisation of its electricity distribution networks.
This operation is supported by the European Union’s InvestEU Guarantee Programme.
This financing of local energy company Sorégies supported by the InvestEU programme is part of its strategic plan which puts renewable energy development centre stage. The group is taking another step towards achieving its goal of self-generating at least 1 000 GWh of electricity by 2030 — a change of scale that will enable it to keep implementing a local supply strategy by bringing its energy production and supply activities closer together.
One-third of the Sorégies Group’s €500 million investment plan for 2024-2026 is dedicated to the modernisation and digitalisation of power distribution networks for greater flexibility and two-thirds will go towards the production of renewable energy. The EIB funds will help finance the acquisition or construction of 44 photovoltaic and wind farms with a total capacity of 307 MW, mostly developed in close cooperation with local authorities.
This is the EIB’s second loan to Sorégies following a maiden operation worth €70 million in 2017, which benefited from the guarantee of the European Strategic Investment Fund (EFSI). Read full article
EU and Canada have established a Green Alliance at a bilateral Summit in St John’s, Newfoundland. The Alliance will strengthen political, technical, economic and scientific cooperation between these two like-minded partners. It covers climate action, environmental and ocean protection, the clean energy transition, green industrial transformation, research and innovation and climate and biodiversity finance. Both the EU and Canada share the aim of becoming climate-neutral by 2050, and intend to scale up climate action in this critical decade to 2030. The EU and Canada will work together closely to ensure the successful implementation of the Paris Agreement, to keep global average temperature increase below 1.5 degrees Celsius above pre-industrial levels. The two partners will jointly promote ambitious climate action on the global stage, and cooperate to support developing countries and emerging economies in implementing their climate and environmental policies. Read full article
The European Commission opened the Innovation Fund’s 2023 call for proposals with a record budget of €4 billion to support the deployment of innovative decarbonisation technologies. The call is funded by revenues from the EU Emissions Trading System (EU ETS), underlining the importance of carbon pricing for the green transition. The Commission has increased the overall funds available, and doubled the budget allocated for cleantech manufacturing projects compared to the previous call. €1.4 billion are available to strengthen industrial manufacturing capacity, technology leadership, and supply chain resilience in Europe.
Project promoters may apply for grants under five topics with distinct budget and capital expenditure (CAPEX) requirements:
General decarbonisation (large-scale) – €1.7 billion available for projects with CAPEX above €100 million
General decarbonisation (medium-scale) – €500 million available for projects with CAPEX between €20 million and €100 million
General decarbonisation (small-scale) – €200 million available for projects with CAPEX between €2.5 million and €20 million
Cleantech manufacturing – €1.4 billion available for projects with CAPEX above €2.5 million focusing on the manufacturing of components for renewable energy, energy storage, heat pumps and hydrogen production
Pilot – €200 million available for projects with CAPEX above €2.5 million focusing on deep decarbonisation.
Projects will be assessed based on their potential to reduce greenhouse gas emissions, their degree of innovation, maturity, replicability and cost efficiency. The Innovation Fund can cover up to 60% of a project’s relevant costs. Projects located in the EEA are eligible to apply, and following the recent revision of the EU ETS Directive the Innovation Fund calls are now also open to the maritime, road transport and buildings sectors, in addition to technologies in energy-intensive industries (including aviation), renewable energy or energy storage. Promising projects that are not sufficiently mature for a grant or not selected for funding due to budget limitations may benefit from the European Investment Bank’s Project Development Assistance (PDA). Read full article
Commuter delays, safety concerns, and limited levels of automation are some of the criticisms facing the self-driving taxi industry. After several companies launched pilot schemes over the last couple of years, many have found themselves facing more challenges than anticipated on the road to automated driving. Since the launch of driverless taxi pilot projects in San Francisco there have been a wide variety of complaints about the new vehicles on the roads. They have been blamed for creating more traffic, misjudging hazards – and therefore making the wrong decisions, and getting in the way of the emergency services. While there have been successful pilot schemes in some areas, other settings are more challenging. Waymo has been running a successful driverless taxi service in the suburbs of Phoenix since late 2019, in an area with wide roads and few pedestrians. In contrast, the automated taxis in San Francisco face narrow, steep roads and a wide variety of obstacles. Read More
Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (eVTOL) jet, and CITIC Offshore Helicopter Co., Ltd (COHC), China’s sole helicopter port pilotage provider — today announced the signing of a Memorandum of Understanding (“MoU”) that will allow the two companies to strategically collaborate on the establish of an eVTOL operation network in China, starting with the Greater Bay Area.
As part of the agreement, Lilium and COHC will work together to develop services in the region based on market demand, and eventually offer regular eVTOL services. This will initially commence in the Greater Bay Area, with additional planned service across the Guangdong-Hong Kong-Macao Greater Bay Area, Hainan Island, and Tianjin in the future.
By combining COHC’s extensive experience in aviation services with Lilium’s innovative eVTOL technology, this partnership is poised to redefine regional air mobility in the People’s Republic of China. The news follows Lilium’s partnership with other suppliers in the China region, including an agreement with Heli-Eastern and an MOU with the Bao’an District of Shenzhen municipality.
COHC and Lilium are committed to jointly facilitating the launch of this groundbreaking service in the Greater Bay Area. This includes strategically selecting production bases, conducting test flights, implementing after-sales service protocols, and identifying potential sites of interest and partners for vertiports. Read More
Lilium N.V. (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, announced today that it has signed an agreement with mobility technology and industrial leader DENSO, a Fortune 500 giant, for technical assistance in optimizing production at scale of the Lilium Jet’s revolutionary electric engine. DENSO, a leader in powertrain electrification and the world’s second largest automotive parts provider by sales, will support Lilium in developing equipment and tooling for an efficient, scalable production ramp-up and preparing automation for high-volume production of the Lilium Jet engine and its subsystems.
Providing millions of critical parts each year to some of the largest and most renowned global carmakers, DENSO will be sharing nearly 75 years of expertise with Lilium to design reliable, competitive, high-volume manufacturing processes. DENSO is currently supplying the stator and rotor subsystems of the Lilium Jet engine as part of its alliance with Honeywell, a tier-one aerospace supplier to Lilium. Read More
ArcosJet DMCC and Lilium N.V. (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (eVTOL) jet, have announced ArcosJet’s purchase of 10 Lilium Jets, expected to be delivered through 2026 & 2027. Following the appointment of ArcosJet as an exclusive authorized dealer for private sales of the Lilium Jet in their region, ArcosJet’s purchase means eVTOL travel will soon be available for customers in the Middle East.
The Lilium Pioneer Edition Jet will offer the largest cabin in its category, low-noise, high-speed regional transport with zero operating emissions, where passengers will enjoy large panoramic views in its spacious 4-seat cabin. Deliveries of the premium eVTOL jet are expected to begin in early 2026. The Lilium Jets will be delivered to customers with a comprehensive maintenance program, pilot training, and two charging stations. The Lilium Pioneer Edition Jet is the first planned model of the Lilium Jet and will comfortably seat four passengers on estimated non-stop flights of up to 175 km at 250 km/h. The first manned flight of the type-conforming aircraft is scheduled for late 2024, with type certification expected in late 2025. Read More
As part of the inaugural meeting of the White House Council on Supply Chain Resilience, the U.S. Department of Energy (DOE) today announced $275 million for seven projects to strengthen clean energy supply chains and accelerate domestic clean energy manufacturing in nine former coal communities across the nation. Each project positions the U.S. to enhance its global competitiveness and national security by building domestic supply chains for existing and emerging technologies, built with American labor and materials. Thanks to the President’s Bipartisan Infrastructure Law, these projects will leverage over $600 million in private sector investments into small- and medium-sized manufacturers and create nearly 1,500 high-quality, good-paying jobs in cutting edge technologies. The portfolio of projects will address critical clean energy supply chain vulnerabilities by supporting key materials and components for energy storage for grid and transportation uses, wind energy, and energy efficient solutions for buildings. In addition to co-location with energy communities, the majority of selected projects will be in or adjacent to disadvantaged communities, supporting the Biden-Harris Administration’s efforts to ensure every community is included in our clean energy future. Read More
As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE) today announced a historic $169 million for nine projects to accelerate electric heat pump manufacturing at 15 sites across the country. The selected projects are the first awards from DOE’s authorization, invoked by President Biden using emergency authority on the basis of climate change, to utilize the Defense Production Act (DPA) to increase domestic production of five key clean energy technologies, including electric heat pumps. Covered under President Biden’s Justice40 initiative and funded by the Inflation Reduction Act—the largest climate investment in history—selected projects will help build a clean energy economy, create good-paying manufacturing jobs, improve air quality, help families and businesses save money on their energy bills, and bolster national security by reducing energy resilience on foreign adversaries. The projects will collectively create over 1,700 high-quality, good-paying jobs in disadvantaged communities, supporting President Biden’s goals of spurring economic growth and maximizing the benefits of clean energy to all communities. Read More
Renewable or nuclear? What’s your energy preference
Support for renewable energy sources such as solar and wind is linked to a belief that climate change will be catastrophic, while supporters of nuclear power tend to be less concerned about climate risks, says study co-authored at Cambridge Judge Business School.
Gender, education, and politics are the 3 factors shaping people’s preferred choice of energy.
“The challenge of addressing climate change is daunting and will involve every sector and every individual and will likely require every option available, says co-author Professor David Reiner. “It is also important to clarify certain misperceptions – for example, we do not find that older or more conservative people are any less supportive of renewables such as wind or solar than younger or more liberal individuals. We hope these findings will help inform government policy.” Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $75.68 | Up |
| Crude Oil (Brent) | USD/bbl | $80.82 | Up |
| Bonny Light | USD/bbl | $80.11 | Down |
| Saharan Blend | USD/bbl | $80.84 | Down |
| Natural Gas | USD/MMBtu | $2.79 | Up |
| OPEC basket 27/11/23 | USD/bbl | $82.75 | Down |
100 per cent Saf-powered flight
The first transatlantic flight by an airliner powered by pure sustainable aviation fuel (Saf) has taken off.
Virgin Atlantic is operating the flight from London’s Heathrow to New York’s JFK airport with a Boeing 787 Dreamliner aircraft.
Virgin founder Sir Richard Branson, Transport Secretary Mark Harper and Virgin Atlantic chief executive Shai Weiss are among the passengers on the flight, which is not carrying fare-paying travellers. Read full article
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