GE Energy Invests in Japan's Renewable Energy Market
Japan has been actively seeking power alternatives in response to the Fukushima nuclear power plant disaster of 2011, and a developing solar photovoltaic project backed by General Electric’s Financial Service unit has been designed to help the nation become less dependent on nuclear energy.
The 32-megawatt project, known as Kumenan, also includes project developer Pacifico Energy and is part of GE Energy Financial Services’ plan to invest more than $1billion annually in renewable energy projects. Financing for Kumenan was supported by a $107 million loan from The Bank of Tokyo-Mitsubishi and The Chugoku Bank.
Kumenan, located in the Okayama Prefecture, has already begun construction and is expected to reach commercial operations in the first quarter of 2016. It is slated to sell power to a regional utility through a twenty-year agreement upon receiving approval from Japan's Ministry of Economy, Trade and Industry.
Construction and operations are being managed by Pacifico, a solar project developer in Tokyo and subsidiary of Virginia Solar Group. Toyo Engineering is constructing the project, with photovoltaic modules supplied by Yingli Green Energy. Pacifico Energy, founded in 2012 and headquartered in Tokyo, has four large-scale solar energy projects planned for 2014 totaling 200-megawatts. Toyo Engineering was established in 1961 and serves the hydrocarbons and petrochemical sectors worldwide. Yingli Green Energy develops, manufactures and sells solar modules under the name Yingli Solar and has deployed over 7 GW of solar modules worldwide.
Japan hopes to produce 20 percent of its power from renewable sources by 2030.
Kumenan will help Japan to meet its renewable energy goals and will set the stage for future investments by the GE unit. President and CEO of GE Energy Financial Services commented on the project by saying, “Our investment in Kumenan advances our global growth into new markets with a strong risk-return profile.”
GE has made investment commitments of $1.8 billion in equity and debt in more than one gigawatt of solar power projects worldwide. The company also intends to finance Japan's largest solar project, a proposed $777 million solar energy facility in Setouchi.
Awesense launches digital clean energy marketplace
Awesense has launched what it claims is the only energy-focused repository of solutions built to drive the industry's decarbonization agenda.
The Awesense Marketplace aims to provide a common framework for companies to collaborate towards the future of clean energy and digital transformation, uniting applications, solutions and algorithms to solve energy and grid challenges.
Solutions listed on the marketplace cover a range of cases, and launch companies include Doosan GridTech, Kitu Systems, vadiMAP, LO3 Energy, ENGIN, Utilidata, Clir Renewables, ChargeLab, SensorLink, Exeri, Easy SmartGrid, and Athena Power.
“We are welcoming a new era in the decarbonization of energy systems,” said Mischa Steiner, CEO of Awesense. “The goal of achieving a clean energy future requires collaboration amongst key industry players in the utilities and energy sectors. Sharing resources through the Marketplace means that our customers and partners have a truly seamless approach as we work towards our common goal - ultimately, decarbonizing the world’s energy system.”
Utilities, consulting companies, and other organizations struggle to develop solutions that can be scaled across many jurisdictions due to complex data integration and the lack of a standard, open data model. Using the solutions offered throughout the Marketplace, organizations can rapidly accelerate their transition to a decentralized, decarbonized future and develop solutions that are scalable across industry. The platform will open up new revenue streams in areas such as:
Distributed energy resource integration and control
Electric vehicle charging
Demand response and smart-home management
Intelligent asset management
Advanced distribution system management
The new marketplace builds on Awesense's Digital Energy Platform, a digital twin based energy analytics platform that allows utilities to scale at the same pace as the rapidly changing technology landscape of the energy grid.
Together, the Open Energy Data Model and the Awesense Marketplace removes hurdles around data mapping and transformation, expedites data preparation and refining, and provides a common framework for companies to collaborate.
“The energy-specific data model allows utilities, technology companies, consulting firms, and other vendors to build solutions that can be easily integrated by other energy companies, to make a real impact on the industry as a whole, and develop new revenue streams for their organizations” said Steiner. “We’re looking forward to seeing the Awesense Marketplace grow as more partners committed to energy decarbonization join us.”
There are no simple solutions to putting the world on a sustainable path to net-zero emissions, according to the IEA. Reducing global CO2 emissions will require "a broad range of different technologies working across all sectors of the economy in various combinations and applications." it notes.
Renewable Energy Hub of South Australia formed
Amp Power Australia has established the Renewable Energy Hub of South Australia, a strategic portfolio of large scale integrated Solar PV, Wind and Battery Energy Storage assets located in South Australia. The hub also includes the siting of the Spencer Gulf Hydrogen Energy Ecoplex, forming part of the South Australian Government's Hydrogen Action Plan.
The portfolio, acquired from EPS, includes three large Solar PV projects totalling over 1.3 GW of generation, located at Robertstown (636 MW), Bungama (336MW) and Yoorndoo Ilga (388MW) with a total BESS capacity of up to 540MW across the portfolio.
Amp's expansion in Australia will include the implementation of Amp X, a proprietary digital energy platform 100% owned by Amp, which provides a diverse portfolio of disruptive and interoperable grid edge solutions, and includes a smart transformer, which enables real-time autonomous management and optimised dispatch of all forms of distributed generation and loads across the grid.
Palmetto recently opened its marketplace in Arizona, and is now serving 20 states across the country, claiming its proprietary technology, marketplace business model, and consumer mobile application "are all designed to democratize access to clean energy".