Wood Mackenzie Power & Renewables

Read our Power & Renewables recap newsletter now! Download our expert's presentations from this year's World #Hydrogen Summit, read our US #solar market insight Q2 2024 report and dive into the current dynamics of volume and price within the GoO market 👇

Can carbon removals put the ‘net’ in ‘net zero’? Nature-based and engineered methods to capture emitted CO2 directly from the air promise much, but the path to the gigatonne capacity required by 2050 isn’t clear. This month’s #WMHorizons sets out three critical steps to scale up #carbonremovals – and why it could be a case of act now, or pay more later: https://okt.to/MAcQIk

Experience continuous #intraday trading while staying ahead of the latest #power market movements with Wood Mackenzie’s 1-minute-interval data. Understand how you can increase the productivity of your generating assets or maximise the profitability of your #trading positions with Europe Power Solutions Discovery Germany, here: https://okt.to/aWheHd

Last week, Wood Mackenzie power and renewables team participated in The Renewable Energy India Expo and The Battery Show India 2024. Our Principal Analyst Sooraj Narayan led an engaging discussion on the expansion of C&I solar in India using VPPAs, which sparked conversations about the future of clean energy. Alex Whitworth, our Vice President, highlighted the significant growth in India's power market, noting that with a 7% GDP growth and an over 8% increase in energy demand this year, the country's energy needs are projected to triple by 2050, presenting a prime opportunity for investment. Read the full coverage from The Hindu here: https://okt.to/VMiTka

Here's your weekly Americas short-term #power insight 💡: What’s driving prices to $500 in California ISO (CAISO)? Beginning Oct 1, strong price volatility started showing up across the northern CAISO hub, NP-15, along with large price separation between the northern and southern portions of the state. The price spread gradually got stronger through the week as demand levels started climbing. While it is normal to see some price separation, something unusual intensified the issue. Our CAISO analysts did a deep dive and identified a few of the driving factors. Helms Pumped Storage, monitored on our PowerRT platform, ramped down on Oct 1 for maintenance. Reduced generation from this unit along with transmission curtailments limiting import availability have driven prices to ~$500 at NP-15. Conversely the southern part of California is seeing increased flows from the southwest, keeping prices below $200 at SP-15. As we head into fall and temperatures cool, our analysts expect this trend to weaken, barring any further generation outages. For more information on how you can monitor CAISO generation in real-time please visit: https://okt.to/zboJuD

Expanding demand and #supplychain disruptions have pushed critical electrical equipment into shortage, driving up prices and lengthening lead times. In our complimentary, one-hour webinar, WoodMac experts and external guests will answer your questions around the electric T&D supply chain challenge, including: 🔌 What's driving demand for transformers, switchgear, cables and other electrical T&D equipment? ⏲️ What are the factors behind the longer delivery lead times and project delays? 📊 What is the impact of these bottlenecks on #renewables deployment, large loads and the cost to consumers? Hosts include: Xizhou Zhou and Devin Thomas of Wood Mackenzie, Justin Badlam from U.S. Department of Energy (DOE) and Teddy Muhlfelder from Equinor. Register below!

Here's your weekly Japan short-term #power insight 💡: Ikata No.3 nuclear reactor in Shikoku region again pushed back maintenance until 25 October, while major thermal plants increased generation to meet demand. The 890MW Ikata No.3 nuclear unit was scheduled to restart by 30 September. It was postponed to 2 Oct and then to 10 October. Shikoku Electric Power announced on 2 October that the dispatch will be delayed due to a malfunction of a measuring device inside the reactor. The company has not yet decided when the inspection process would finish, the estimated schedule is to end inspection and maintenance by 25 October. Meanwhile, the major coal-fired power plant Tachibanawan (2.8GW) in Shikoku increased generation to capacity on 30 September, to make up the loss of the scheduled restart unit. Chugoku-Shikoku transmission line flipped direction on 29 Sep, 1 and 3 Oct, with the exporting line from Shikoku to Chugoku reducing 250MW. Find out more here: https://okt.to/Oj6UbR

The latest edition of our LinkedIn newsletter is now live! This month you've been talking about: 📊 What a severe downside US post-election scenario could be for renewables 📝 Hydrogen offtake contracts: securing project outcomes ☀️ Sunny skies ahead: the solar market and supply chain in 2024 and beyond 📢 RE+ 2024: Our 7 biggest takeaways Get the latest insights and analysis below.

Join us next month at the Wood Mackenzie Hydrogen Conference in the City of London from 6-7 November. 🗣️ 25+ speakers discussing the most pertinent topics 🎟️ 200+ attendees expected from across the hydrogen value chain Find out which organisations are already confirmed, view the agenda and book your seat https://okt.to/Gwf7N0 #WMHydrogen #Hydrogen

Last week, Isha Chaudhary, our Head of Steel & Raw Materials Markets and Charvi Trivedi, Senior Research Analyst attended the MENA Green Steel Event held in Dubai, where Isha moderated a panel on upstream challenges in supply chain as steel decarbonises. This session sparked a vibrant conversation among participants about green metallics, including DRI and scrap. Check out our latest insights on green steel here: https://okt.to/cOoEs6