Iberdrola to create new business unit to develop green hydrogen

22/09/2020 09:12 Biofuels


Spanish utility Iberdrola said on Monday (21 September) it would create a new business unit aimed at developing green hydrogen to supply industry and heavy transport.

The company said it will use renewable energy to power electrolysis which splits water into hydrogen and oxygen.


In July, the European Commission mapped out a plan to expand the production and use of green hydrogen.


The aim is to scale up European green hydrogen projects across polluting sectors – from chemicals to steel – to meet a net zero emissions goal by 2050 and become a leader in a market analysts expect to be worth $1.2 trillion (€1.02 trln) by that date.


Iberdrola said the first project in Puertollano, in southern Spain, will comprise of a 100 megawatt solar photovoltaic plant, a lithium-ion battery system for storage and an electrolysis system to produce hydrogen.


With an investment of €150 million, the plant will be commissioned in 2021.


In Britain, through Iberdrola’s subsidiary ScottishPower, Iberdrola is participating in a project which will implement a network of green hydrogen production plants to supply fleets and heavy transport, it added.


ConocoPhillips Becomes First Major U.S. Oil Firm To Pledge Emission Cuts

20/10/2020 09:10:00

U.S. oil and gas producer ConocoPhillips unveiled on Monday a target to reduce emissions from its operations to net zero by 2045-2055 in a first announcement from a major American oil firm setting specific targets to cut its carbon footprint.


Daily (19.10.2020): NBP spot reached a fresh 2020 high on Friday, due to low flows from Norway and increased demand

19/10/2020 11:05:00

Crude oil prices edged lower on Friday ahead of the OPEC+ ministers’ meeting. Furthermore, doubts about demand and the worrying pace of COVID-19 pandemic also weighed on prices. Brent crude for December delivery slipped by 0.5% to settle at $42.93 a barrel, while WTI crude traded 0.2% lower at $40.88 a barrel.


Norway’s Hammerfest LNG to reopen in January

19/10/2020 09:08:00

Norway’s Hammerfest LNG isn’t expected to resume operations this year, as operator Equinor continues to carry out an investigation into a serious incident late last month.