KEYNOTION’s Post

The past year was the most dynamic one for the European renewable power purchase agreement (PPA) market, indicating it has entered its “golden era” after record-breaking statistics for the volume and number of deals signed in 2023, according to Swiss advisory services company Pexapark. The latest Pexapark report shows that a total of 16.2 GW of contracted renewable power volumes were disclosed last year, representing a 40% increase in annual terms. The overall number of reported deals jumped by 65% to 272. Source: https://lnkd.in/em59FsCd #cleanglobestaffing #ppa #powermarkets

Global Offshore wind: towards “accelerated expansion over the next decade” according to the Global Wind Energy Council. China and Europe are leading installations: https://buff.ly/4b859h7 #renewables #sustainability #energy #procurement #utilities

On July 29, the IPA hosted a workshop titled, ‘Post Award Indexed REC Process Workshop 1: Pain Points for Developers (without the ability to negotiate post-award)'. This workshop discussed developers’ pain points with the current Indexed REC contracts, including cost challenges, supply chain issues, and areas where renewable energy projects developers would like to see more flexibility within the Indexed REC contract. The workshop notes are now available on the Downstream Negotiations page of the IPA website.     The IPA’s 2024 Long-Term Renewable Resources Procurement Plan outlined a process to further explore the issue of post-award REC delivery contract term changes for utility-scale wind and utility-scale solar projects, with a goal that an Indexed REC post-award negotiation process may be finalized for inclusion in a compliance filing within one calendar year after the Plan’s February 20, 2024, approval.     With this as the backdrop, the IPA conducted its first workshop in July and will be conducting a series of workshops on this topic through November 2024 and seeking stakeholder feedback.     For more information on these workshops, visit the Downstream Negotiation for Indexed REC Contracts webpage on the IPA website.     https://lnkd.in/gYaHD7d9     #Workshop #DownstreamNegotiations #renewable #energy #development 

Did you this recent story from Australian Manufacturing? Weld Australia is urging federal and state governments to establish local content procurement policies requiring 60 per cent of all fabricated steel used in renewable energy projects to be manufactured locally by Australian welders. This follows the recent expansion of the Federal Government’s Capacity Investment Scheme, which aims to drive approximately $10 billion worth of investment in renewables. The scheme was expanded in November 2023 to raise $40 billion in private investment, adding another 32 GW of capacity to the National Energy Market. https://lnkd.in/g2kXbUVf #RenewableEnergy #AustralianManufacturing #LocalContent #SteelFabrication #WeldAustralia #InvestInRenewables

Offshore Energies UK welcomes renewable energy boost for prospective windfarm developers 👇 Thibaut Cheret, OEUK’s Wind and Renewables Manager said: "North Sea energy from oil and gas is a British industrial success story. Given the right investment environment our members will create a similar industrial success story from the energy transition, unlocking more than £200 billion in private capital before 2030, as well as helping to secure our domestic energy security and protect jobs.  We can only achieve these ambitious wind targets if we begin to deploy floating wind at scale offshore by 2030, using the early opportunities presented from the INTOG licences. This will require an alignment of industrial and energy strategies to benefit the UK economy. We need to speed up this process of annual strike price auctions, alongside speeding up all investment in homegrown energy and the energy supply chain, if we are going to meet our legally binding net zero targets." 🔗https://ow.ly/IOy950TeuOG

𝗣𝗿𝗼𝗰𝘂𝗿𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝘁𝗲𝗻𝗱𝗲𝗿𝗶𝗻𝗴 are two interconnected aspects of a commercial transaction process in the renewable energy sector, but they differ significantly in perspective and function. In chapter 5 "Sustainability in Tenders & Procurement" of our course "SUS01 Foundations of Sustainability", we describe procurement and tendering from both the perspective of the 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝗶𝗻𝗴 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆'𝘀 𝘀𝗶𝗱𝗲 and 𝘁𝗵𝗲 𝘁𝗲𝗻𝗱𝗲𝗿𝗲𝗿'𝘀 𝘀𝗶𝗱𝗲. The aim of this chapter is to equip you with a profound understanding of 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗻𝗴 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝘁𝗼 𝗽𝗿𝗼𝗰𝘂𝗿𝗲𝗺𝗲𝗻𝘁 𝘄𝗶𝗻𝗱 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀. This is part of our full course designed to equip you with the knowledge and tools needed to navigate the complex realm of sustainability within the renewable energy industry. While we use offshore wind farms as a case study, the sustainability principles you will learn are universally applicable to various renewable technologies. You can enrol in the full course here: https://lnkd.in/g24R2Epp #RECOA #RenewableConstructionAcademy #Educationforagreenerfuture #foundationofsustainability #sustainability 

[#Deal 🍃] We are thrilled to support our clients on their transformation journey through these energy transition projects. Two UK offshore wind projects, known as Morgan and Mona located in the Irish Sea approximately 20-30kms from the coast, have a potential combined production capacity of 3GW. Once operational, it is estimated that they will have the potential to provide enough electricity for around 3.4 million UK households annually, supporting the UK’s #NetZero ambition transitioning to a low carbon future. We have been selected as sole debt financial advisor to bp and EnBW - Energie Baden-Württemberg AG, two leading energy players that are committed to energy transition. The two strategic renewable energy projects reinforce our commitments to the #EnergyTransition by accompanying and assisting our clients and the society in the #renewable and energy transition initiatives. Read more 👇 https://bit.ly/44NRHgA

Credit article to renews.reNEWS - Renewable Energy News Boskalis’ offshore energy business reported a 41% revenue increase in 2023, with offshore wind contributing to half the division’s revenue last year. In 2023 Boskalis was active on 29 offshore wind schemes, including installation projects in Taiwan, Europe and the United States. For 2023 Boskalis Group reported net profit of €601m, compared with €241m in 2022 and EBITDA of €1bn in 2023, compared with €604m in 2022. The company's chief executive Peter Berdowski said: “2023 was a particularly successful year for Boskalis, in which we broke many records. Net profit rose by almost 150% to a record high of over €600m and EBITDA to over €1bn. “It is great to see that all parts of the business contributed to these impressive figures. “All our employees deserve a big compliment for the dedication, professionalism and teamwork with which we were able to achieve these successes.” He said in 2023 Boskalis completed its first wind project in the US and was busy with several wind projects in Taiwan and Europe. #Boskalis #Europe #Finance #QEDGroup #QEDEnergy #PrimeDispute

The government, in collaboration with the Special Investment Facilitation Council (SIFC), has signed a $10 billion agreement to construct a new oil refinery, aiming to address the country's energy crisis and bolster economic growth. Simultaneously, efforts are underway to explore coastal oil and gas reserves, with anticipated investments ranging from $5 to $6 billion. Moreover, a 150-megawatt solar power plant in Sukkur and a one-megawatt plant in Hunza have been established through private partnerships. SIFC is prioritizing hydel, solar, and wind energy over coal and furnace oil to promote sustainable energy generation. #EnergyCrisis #OilRefinery #SolarPower #RenewableEnergy #Investment #SustainableDevelopment

🆕 ♻ On 14th August, Meta signed two long-term power purchase agreements (#PPA) with RWE for a combined renewable generation capacity of 374 MW. The news put back the need for more PPAs under the spotlight. 🥇 In 2023, Europe saw its corporate PPA volumes grow 74% to 15.4 GW - by far the largest growth of any region, Bloomberg reported. This positive trend marks the success of EU’s policies to strengthen the PPA market. However, big corporations remain the main buyers of corporate PPAs. In order to make PPA a key tool for energy procurement among big and mid-sized companies, the EU should work on: 1️⃣ Speeding up permitting processes to increase the number of renewable energy projects - unbureaucratisation often happen at municipal level, and clear standards and guidelines should be encouraged 2️⃣ Incentivise Member States to introduce credit de-risking facilities to expand the available guarantee schemes and attract more mid-sized buyers 3️⃣ Execute and commit to the European Commission’s Action Plan for Grid, also by supporting flexible storage in order to ensure a stable renewable energy provision