Aug 23, 2019

Renewable energy leader Statkraft lands fresh EV charging capabilities 

Marcus Lawrence
2 min
Norwegian hydropower giant Statkraft, one of Europe’s leading generators of renewable energy acquires second German EV charging company, E-WALD GmbH
Norwegian hydropower giant Statkraft, one of Europe’s top generators of renewable energy, has acqu...

Norwegian hydropower giant Statkraft, one of Europe’s top generators of renewable energy, has acquired its second German EV charging company, E-WALD GmbH.

61% of eeMobility, the first acquisition in this vein, was bought in December 2018 and marked Statkraft’s first foray into the German market. With eeMobility, Statkraft secured a controlling stake in its fleet charging solutions and developmental projects. 

“For the last four years we have built up an agile enterprise bringing to life our vision of intelligently connecting electric vehicles with energy markets by creating charging solutions that address volatility of renewable energy production,” said Klaus Huber, co-founder of Statkraft, in its press release the time.

With the entirety of E-WALD GmbH under its belt, Statkraft has added around 300 EV charging stations to its German portfolio, alongside E-WALD’s EV leasing services.

E-WALD’s fleet of approximately 100 EVs are let out to various corporations and municipalities across Germany, with a total of around 7000 customers.

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“E-WALD is well placed for growth within fast charging in Germany and we look forward to build the company further and support its ambitious growth strategy”, said Bjørn Holsen, Senior Vice President for New Business in Statkraft, in the 23 August press release.

Otto Loserth, CEO of E-WALD GmbH, added: “This acquisition marks an important milestone in the company's development and confirms the dedicated team's ability to build and operate a modern and powerful charging infrastructure”.

Statkraft said its plans for expansion in the EV charging field won’t end with its acquisition of E-WALD, noting that it aims to become a leader in the sector as EV adoption continues to rise across Europe.

According to the firm, Norway is the current leader on the continent for EV uptake. Statkraft believes this experiential nous will be a pivotal differentiator as it eyes expansion into further European markets. 

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Apr 23, 2021

Drax advances biomass strategy with Pinnacle acquisition

Drax
Biomass
Sustainability
BECCS
Dominic Ellis
2 min
Drax is advancing biomass following Pinnacle acquisition it reported in a trading update

Drax' recently completed acquisition of Pinnacle more than doubles its sustainable biomass production capacity and significantly reduces its cost of production, it reported in a trading update.

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).

Drax CEO Will Gardiner said its Q1 performance had been "robust", supported by the sale of Drax Generation Enterprise, which holds four CCGT power stations, to VPI Generation.

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.

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