Meridian Energy to buy 749GWh of Australian hydropower, solar, and wind projects
The New Zeland-based energy company, Meridian Energy, has announced its purchase of solar, hydro, and wind projects in Australia.
The firm has invested AU$168mn in three hydro plants, all based in New South Wales, from New Zealand’s Trustpower.
Among the wind and solar investments – all Power Purchase Agreements – are the 37-turbine windfarm owned by CWP Renewables in NSW, Salt Creek Wind Farm in Victoria and stage one of the Kiamal Solar Farm, also in Victoria.
The projects combined create a total renewable capacity of 749GWh.
“Meridian is pleased to add hydro, wind and solar generation capacity to our existing wind generation,” commented Ed McManus, CEO of Meridian Energy Australia and Powershop Australia.
“These agreements expand our portfolio of 100% renewable generation allowing us to support our growing customer base and drive further demand for large scale renewable energy in Australia.”
“Powershop, Meridian Australia’s retail arm, has been on a strong growth trajectory since its launch in 2014, with customer numbers now more than 100,000.”
“Acquiring the three hydro power stations along with the three PPAs for wind and solar farms in New South Wales and Victoria allows Powershop to continue to cover its growing retail position.”
Powershop Australia is the only electricity retailer to be certified 100% carbon neutral by the Australian Government and has been ranked by Greenpeace as the greenest power company in Australia for two years running.
Meridian was also recognised as one of the most sustainably perceived brands in New Zealand in a recent consumer survey by Colmar Brunton.
Trafigura and Yara International explore clean ammonia usage
Reducing shipping emissions is a vital component of the fight against global climate change, yet Greenhouse Gas emissions from the global maritime sector are increasing - and at odds with the IMO's strategy to cut absolute emissions by at least 50% by 2050.
How more than 70,000 ships can decrease their reliance on carbon-based sources is one of transport's most pressing decarbonisation challenges.
Yara and Trafigura intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain. Under the MoU announced today, Trafigura and Yara intend to work together in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities
Magnus Krogh Ankarstrand, President of Yara Clean Ammonia, said the agreement is a good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. "Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem," he said.
There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential, according to Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Ammonia has a number of properties that require "further investigation," according to Wartsila. "It ignites and burns poorly compared to other fuels and is toxic and corrosive, making safe handling and storage important. Burning ammonia could also lead to higher NOx emissions unless controlled either by aftertreatment or by optimising the combustion process," it notes.
Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels, has performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually and employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kt of storage capacity – enabling it to produce and deliver ammonia across the globe.
It recently established a new clean ammonia unit to capture growth opportunities in emission-free fuel for shipping and power, carbon-free fertilizer and ammonia for industrial applications.