🌞 Energy Futures #52

Happy Monday 👋

The global energy landscape saw significant developments this week. H2 Global Energy and Tunisia collaborate on a $6B green hydrogen project to produce 400,000 tonnes of ammonia annually. DEWA launches a $1.9B smart grid initiative integrating AI for enhanced sustainability. Rising gas prices in Asia prompt fuel switching, raising concerns about emissions. Brazil invests $815M in strategic minerals to strengthen local supply chains. Huaneng Renewables secures $2B to boost its green energy projects, advancing China’s decarbonization goals. These developments highlight a strong push towards sustainable energy innovation and infrastructure globally.

What's new?

HolonIQ’s new Green Skills Map and Workforce section reveal industry-wide sustainability skills and jobs, as well as workforce development initiatives, supporting upskilling for a sustainable economy.

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🌅 New Energy

🌱 H2 Global Energy Consortium Signs $6B Green Hydrogen Deal with Tunisia. A consortium led by H2 Global Energy partnered with Tunisia to develop a $6B green hydrogen and green ammonia project. The project aims to produce 400,000 tonnes of green ammonia annually using renewable energy, positioning Tunisia as a leader in clean energy.

☀️ Trina Solar Sets New World Record in Solar Cell Efficiency. Trina Solar achieved a world record for solar cell efficiency, advancing n-type i-TOPCon technology. The company reached a conversion efficiency of 26.1% for large-area cells, setting a benchmark in renewable energy innovation. This milestone underscores progress in maximizing energy output from photovoltaic technology.

⚡ China Commissions World's Largest Hydropower Plant. China commissioned the world's largest hydropower plant, Fanning, operated by China National State Grid. The plant has an installed capacity of 3.6 million kW and is designed to generate 6.61 billion kWh of electricity annually.

🔌 Utilities

⚡️ DEWA Launches $1.9B Smart Grid Initiative. Dubai Electricity and Water Authority (DEWA) announced a $1.9B smart grid project, integrating Microsoft Copilot's generative AI to enhance sustainability, energy efficiency, and digital infrastructure.

🔋 Pure Lithium's Lithium Metal Battery Breakthrough. Pure Lithium announced significant advancements in lithium-metal battery technology, achieving unprecedented cycling performance. The novel design addresses challenges such as short lifespan and safety concerns, marking a step forward for energy storage innovation. These results promise applications in sectors like electric vehicles and grid storage. 

☀️ Volcanic Tuff Stones Enhance Photovoltaic-Thermal Energy Storage. Chinese researchers utilized volcanic tuff stones as ground heat exchangers to improve the efficiency and storage capacity of photovoltaic-thermal (PVT) systems. This innovation optimizes the integration of solar energy with thermal storage, potentially boosting the sustainability of renewable energy solutions. 

⛽ Oil & Gas

⛽ Gas Prices Surpass Oil, Prompting Fuel Switching in Asia. Liquefied natural gas prices in Asia have risen higher than oil prices, leading major consumers to switch to cheaper but more polluting fuels like coal, a switch set to impact the region’s energy dynamics, potentially raising emissions and slowing the transition to cleaner energy sources. 

⛽ European Gas Storage Depleting Rapidly. European gas storage sites have depleted at the fastest rate since 2018 due to an exceptionally cold winter and high demand. This depletion puts pressure on energy security and underscores the need for robust supply management amid ongoing geopolitical uncertainties.

🛢️ SK Earthon Discovers Crude Oil in Vietnam. SK Earthon, a subsidiary of SK Innovation, successfully discovered crude oil in the Cuu Long Basin offshore Vietnam through exploration drilling in cooperation with US oil company Murphy Oil Corporation.

💎 Mining and Metals

💰 Brazil Invests in Strategic Mineral Projects. Brazil announced an $815M investment to support the development of supply chains for strategic minerals like lithium, rare earth elements, nickel, graphite, and silicon. The funding aims to support local production, reduce import dependency, and promote technological advancements in mining.

✈️ Neste to Supply Sustainable Aviation Fuel to Air New Zealand. Neste will supply 30 million liters of biofuel-based sustainable aviation fuel (SAF) to Air New Zealand as part of the airline's commitment to reducing carbon emissions. This collaboration aims to support the airline's transition to cleaner aviation fuel and reduce its environmental impact.

🛠️ Skills and Workforce

HolonIQ is now tracking reskilling and upskilling initiatives critical in bridging workforce gaps. Impact industries are rapidly evolving, fueled by technological advancements, decarbonization, geopolitical dynamics, and socio-economic factors. To that extent, these sectors require considerable workforce/professional development initiatives to enhance workers' capabilities, boost economic growth, and promote social well-being. Read on for this week’s insights, and discover more in HolonIQ's latest Skills newsletter.

🧑‍🔧 Suzlon and Andhra Pradesh Launch Green Skill Development Initiative. Suzlon Group and Andhra Pradesh State Skill Development Corporation (APSSDC) have partnered to establish India’s largest skill development program. This initiative will train 12,000 individuals, including 3,000 women, in renewable energy skills over four years. Focus areas include wind power manufacturing and operations. The program also introduces a structured curriculum for engineering institutions and global content integration, aiming to bridge the renewable energy skill gap and foster a future-ready workforce.

💡 Argonne Hosts Global Women Energy Leaders Training Program. Argonne National Laboratory, in collaboration with the DOE’s Net Zero World Initiative, hosted the Climate Smart Women Energy Leaders (CSWEL) program, training 12 women leaders from partner countries in sustainable energy. The program featured technical sessions on advanced technologies, leadership workshops, and faculty tours, equipping participants to advance energy solutions tailored to their nations. Emphasizing collaboration and capacity building, CSWEL fosters a global network of women leaders poised to drive sustainable energy innovation and policy implementation worldwide.

⚡ DOE Expands Workforce Development with Spring 2025 Internship Programs. The US Department of Energy (DOE) announced that 164 undergraduate students and six faculty members will engage in workforce development programs at 11 national labs and a fusion facility this spring. Participants will gain hands-on research experience through the SULI, CCI, and VFP initiatives, fostering careers in science and technology. Notably, 29% of students and 50% of faculty represent Minority Serving Institutions.

HolonIQ has launched the Green Skills Map, an open-source framework initiated for cataloging, evaluating, and contextualizing the different components of the rapidly expanding field of green jobs. This comprehensive taxonomy will serve as a resource for understanding the full spectrum and complexity of green skills required across various sectors, thereby enabling a cohesive approach toward achieving net zero and decarbonizing the global economy. Green Skills Map spans 11 areas, 54 sub-areas, and 243 green skills clusters. A snippet of the map covering four areas has been included above. Explore the full map on greenskills.org.

💰 Energy Deals

🌱 Huaneng Renewables Secures $2B in Green Energy Financing. Huaneng Renewables, a Chinese energy company, secured $2B in financing to accelerate its transition to renewable energy sources. The funds will support the development of clean energy projects, aligning with China's broader decarbonization goals and boosting global green energy adoption.

🌬️ ACWA Power Secures $704M Financing for Major Wind Farm in Egypt. ACWA Power, a Saudi Arabian developer, secured $704M in financing for a $1.2B wind farm project in Egypt that will use Chinese turbines. The company stated that the project's financial close highlights the viability of Egypt's renewable energy market.

🔋 Hemlock Semiconductor Secures $325M CHIPS Funding. Hemlock Semiconductor, a polysilicon manufacturer, received $325M in funding from the CHIPS Act to build a new facility to strengthen its semiconductor supply chain.

💰 Nexans Sells AmerCable to Mattr for $280M. French cable manufacturer Nexans AmerCable sold its subsidiary AmerCable to Mattr for an enterprise value of $280M. The collaboration aims to enhance the reliability and efficiency of offshore operations, supporting the industry's transition to more sustainable energy practices.

🔋 Sunfire Secures $208.5M Financing for Hydrogen Projects. German electrolysis solutions provider and electrolyzer manufacturer, Sunfire GmbH, obtained a $208.5M guaranteed financing line to support the implementation of industrial customer projects related to hydrogen.

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