Germans receive free power due to surplus energy
During the weekend beginning the 28 October, so much energy was created through major windstorms, that Germany had enough to give it away for free.
The equivalent of 40 nuclear power plants worth of energy was generated during the storms, leading the costs to fall below zero.
The wind output of 39,409MW caused utilities to pay customers to take the power – the most since Christmas 2012.
In order to keep grid supply and demand in balance, many producers shut down their power stations.
Germany has placed a lot of attention on the importance of renewable energy ever since it launched the Energiewende program in 2010, a strategy to move away from fossil fuels.
The country recently announced its plan to develop a giant offshore wind farm without subsidies.
Wind power provides approximately 10% of Europe’s electricity needs, with expectation for this number to grow as technologies drop in price.
According to Bloomberg, the cost of developing green energy is expected to drop by 71% over the next two decades.
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.