Skip to main content

Posts

Showing posts from January 22, 2023

Just In

Margün Enerji to Acquire Turkish Geothermal Firm Hez Enerji in USD 150 Million Deal

Margün Enerji’s USD 150 Million Acquisition of Hez Enerji Signals a New Geothermal Consolidation Wave in Türkiye The global renewable energy sector is undergoing a rapid phase of consolidation, with strategic acquisitions reshaping ownership structures, accelerating capacity expansion, and strengthening long-term energy security. One of the latest and most significant moves comes from Türkiye, where Margün Enerji Üretim Sanayi ve Ticaret A.Ş. has agreed to acquire geothermal company Hez Enerji İnşaat San. ve Tic. A.Ş. in a deal valued at approximately USD 150 million . The transaction, which includes an operational geothermal power plant and additional resource licenses, underscores the aggressive expansion strategy of Margün Enerji in the geothermal space. This acquisition is not just a financial transaction—it represents a broader strategic pivot in Türkiye’s renewable energy landscape, where geothermal energy is increasingly becoming a core pillar of baseload clean power generati...
Post a Comment
Read more

"GE Hitachi Nuclear Energy, OPG, SNC-Lavalin and Aecon Sign Historic Contract for Deployment of Groundbreaking Small Modular Reactor at Darlington Nuclear Project Site"

image source:(unsplash.com,Jakob Madsen) GE Hitachi Nuclear Energy (GEH), in partnership with Ontario Power Generation (OPG), SNC-Lavalinand Aecon, has signed a contract for the deployment of a BWRX-300 small modular reactor (SMR) at OPG’s Darlington New Nuclear Project site, marking the first commercial contract for a grid-scale SMR in North America. This groundbreaking agreement, through which GEH will provide the reactor design, encompasses a comprehensive range of project activities, including design, engineering licensing support, construction, testing, training and commissioning. Jay Wileman, President and CEO of GEH, stated, "This contract is an important milestone and solidifies our position as the leading SMR technology provider. We aim to deliver the first SMR in North America and, in doing so, lead the start of a new era of nuclear power that will provide zero-emission energy generation, energy security and energy reliability around the globe. We can’t express our appre...
Post a Comment
Read more

"Revolutionary Sustainable Investment: The Emergence of the Solidarity Financial Trust of Public Infrastructure NA-SA IV"

The Atucha plant site (Image: Nucleoelectrica Argentina) A financial trust has been opened in Argentina to support sustainable investment in two nuclear energy projects. Investments made in the new Solidarity Financial Trust of Public Infrastructure NA-SA IV will go to enable the licence extension for Atucha I as well as the construction of a dry storage facility for used fuel. The trust was opened on 24 January by Atucha's owner, Nucleoelectrica Argentina SA (NA-SA), with Nación Bursátil as well as Banco de la Provincia de Buenos Ares and Macro Securities. The financial firms will make placements for retail investors to invest Argentine pesos from a minimum of USD100 equivalent and receive a return of 2% per year. NA-SA told World Nuclear News that the trust was set up for a total amount of USD600 million across six tenders. This would cover both the projects, which are estimated at USD463 million for the licence extension of Atucha II and USD137 million for the dry storage facili...
Post a Comment
Read more

"Saudi Aramco and Terra Drone partner for a revolutionary approach to oil and gas inspection"

Oil giant Saudi Aramco is investing in Japanese drone company Terra Drone to create a subsidiary for  ... [+] TERRA DRONE Saudi Aramco, the world's leading oil producer, is making a multi-million dollar investment in Japanese drone and air mobility technology company Terra Drone as it seeks to fall in line with Saudi Arabia's long-term initiative to reduce the nation's dependence on hydrocarbons. The companies announced late Tuesday that through its $200 million venture capital arm, Wa'ed Ventures, Saudi Aramco is investing $14 million in Terra Drone which, in turn, will use the money to create the subsidiary Terra Drone Arabia. This move represents a significant step forward for both companies, as Terra Drone Arabia will provide oil-gas inspection services for Saudi Aramco while at the same time generating local jobs and accelerating development of the drone industry in the Middle East. The new subsidiary offers an opportunity for Terra Drone, one of the top two drone ...
Post a Comment
Read more

"Diablo Canyon Nuclear Plant: Will it Survive Beyond 2025?"

Diablo Canyon (US Nuclear Regulatory Commission/PG&E) PG&E, a Californian utility company, had submitted an application to renew the operating licenses for its pressurized water reactors at the Diablo Canyon plant in 2009. However, in 2018, the company withdrew the application after the California Public Utilities Commission (CPUC) approved a joint proposal from the company together with labor and leading environmental organizations to close the plant at the end of its current licenses. The proposed closure date was set for 2024 for Unit 1 and 2025 for Unit 2, as it was believed that the plant's output would no longer be required as California focused on an energy policy centered on efficiency, renewables and storage. But, grid reliability issues have prompted a rethink on the plant's early closure. On October 31st, last year, PG&E formally asked the Nuclear Regulatory Commission (NRC) to resume its review of the license renewal application for the Diablo Canyon pla...
Post a Comment
Read more

"Fortum seeks to extend operating license of Finland's oldest nuclear power plant until 2050"

Units 1 and 2 of the Loviisa plant (Image: Fortum) The Loviisa power plant, boasting two state-of-the-art VVER-440 type pressurized water reactors, was the inaugural nuclear power facility in Finland and continues to furnish over 10% of the nation's electricity. Unit 1 of Loviisa commenced commercial operations in 1977, with unit 2 following suit in 1981. These units' operating licenses were renewed in 1998 and 2007 respectively. Fortum, the company operating the facility, submitted an application to TEM in March 2022 to extend the operating licenses of both units until 2050. The Finnish government is currently assessing Fortum's application, soliciting statements from various authorities, organizations, and municipalities in the affected region and providing citizens with an opportunity to voice their opinions. The government will make its decision on the operating license based on these statements. STUK, the regulatory body overseeing the facility, stated that Fortum has ...
Post a Comment
Read more

"French Senate Approves Accelerated Construction of Nuclear Facilities: A New Era of Nuclear Power on the Horizon?"

The French Senate (Image: senat.fr) The French Senate has given its stamp of approval to a draft bill that seeks to expedite the construction of new nuclear facilities near existing sites and the operation of existing ones. The bill, which passed with a resounding 239 votes in favor and only 16 against, was adopted during its first reading in the Senate. The deliberation of the bill began on January 17th and concluded with a vote on January 24th. The bill includes several key provisions, including the removal of the goal to reduce nuclear's share of France's electricity production to 50% by 2035. Instead, nuclear's share will now be maintained at "more than 50%" of electricity production by 2050. Additionally, the bill includes the inclusion of small modular reactors (SMRs) as potential reactor types to be constructed. The bill also establishes "a specific procedure for compatibility of urban planning documents" with a view to the construction of new rea...
Post a Comment
Read more

"Uganda Launches Controversial $10 Billion Oil Drilling Program in Kingfisher Field"

Image source: (Unsplash.com-Zbynek burival) The Kingfisher field, a verdant and bountiful oil reserve located beneath the tranquil waters of Lake Albert in western Uganda, has officially been commissioned for drilling as the country embarks on a $10 billion scheme to develop its oil reserves and construct a colossal pipeline to transport the crude to international markets via an Indian Ocean port in Tanzania. This ambitious endeavor, which has incited the ire of environmental groups, is expected to yield 40,000 barrels of oil per day at its peak and Uganda's first oil is anticipated to flow in 2025, almost two decades after the reserves were first discovered. The Kingfisher field, operated by the state-owned China National Offshore Oil Corporation (CNOOC), is part of a larger scheme that aims to tap into the estimated 6.5 billion barrels of crude under the lake, of which about 1.4 billion are recoverable. The reserves are expected to last up to 30 years, with production peaking at ...
Post a Comment
Read more

"Containment Building Completed: A Revolutionary Achievement at the Zhangzhou Nuclear Power Plant Unveiled

The completed outer dome at Zhangzhou unit 1 (Image: CNNC) The outer dome of the containment building of unit 1 of the Zhangzhou nuclear power plant in China's Fujian province has been completed, marking a significant milestone in the construction of this revolutionary power source. The Zhangzhou 1 unit is the first of two Hualong One units being built at the site, and its completion has sparked curiosity and anticipation among industry experts and energy enthusiasts alike. But what exactly is the Hualong One, and what makes it so special? This advanced nuclear reactor design, developed by China National Nuclear Corporation (CNNC), is the product of decades of research and development, and is considered to be the most advanced and safest nuclear technology in the world. It boasts a host of cutting-edge features that set it apart from traditional nuclear reactors, including enhanced safety systems, improved fuel efficiency, and a compact design that allows for easy construction and ...
Post a Comment
Read more

"Revolutionizing the Future of Sustainable Transport: PUNCH Group Secures €40m in Funding to Optimize Hydrogen Engine Technology"

  image source:(unsplash.com-Precious Madubuike) The PUNCH Group, a Belgian-based leader in the design of propulsion and control systems for hybrid and electric vehicles, has been bestowed a generous €40m grant from the European Investment Bank (EIB) to further advance its cutting-edge hydrogen engine technology and hasten the transition to zero-emission transport. This substantial investment will empower the company to enhance the capabilities of its hydrogen engine, enabling it to conduct research, development, and innovation activities at its headquarters in Turin, Italy and Strasbourg, France. Guido Dumarey, the founder, owner, and CEO of the PUNCH Group, remarked on the significance of this funding, stating, "The EIB's support will be a crucial element in realizing our vision of sustainable mobility for all. We aim to expand our technological expertise in the field of electric and hydrogen propulsion, and we believe in the immense potential of hydrogen engines, particular...
Post a Comment
Read more

"Oil and Renewable Energy Collide: UAE Appoints Controversial Leader as President for Upcoming Climate Summit"

image source: (unsplash: zbynek Burival) The United Arab Emirates has appointed Sultan al Jaber, the head of the national oil company ADNOC, as the president for the upcoming COP28 climate summit set to take place in Dubai later this year.  Al Jaber is also the UAE's special envoy on climate change and plays a crucial role in the country's goal of reaching net-zero emissions by 2050, which makes him a highly controversial choice for the role. As the CEO of Abu Dhabi National Oil Co., Al Jaber oversees the pumping of nearly all the crude oil in the UAE, which produces about 3.2 million barrels of oil per day.  However, it should be noted that Al Jaber is also the chairman of the UAE's largest renewable energy company, Masdar, which has the capacity to produce 20 gigawatts of clean power and plans to invest billions of dollars to increase its capacity to 100 gigawatts globally this decade, which is about double the renewable energy that the U.K. can produce today.  The COP2...
Post a Comment
Read more

"Revolutionary Breakthrough: NRC Certifies First-Ever Small Modular Reactor Design in US, Unleashing a New Era of Clean Energy!"

(source: VOYGR™ SMR power plant) NuScale Power "A new era of clean energy has officially arrived as the Nuclear Regulatory Commission (NRC) has issued a groundbreaking rule making that allows utilities to reference NuScale's Small Modular Reactor (SMR) design when applying for a combined license to build and operate a reactor. This is not just any reactor, but an advanced light-water SMR with each power module capable of generating 50 megawatts of emissions-free electricity. But that's not all, NuScale's VOYGR™ SMR power plant can house up to 12 factory-built power modules that are about a third of the size of a large-scale reactor. Imagine a power plant that leverages natural processes, such as convection and gravity, to passively cool the reactor without additional water, power, or even operator action. A true game changer in the energy industry. The NRC accepted NuScale's SMR design certification application back in March 2018 and issued its final technical revi...
Post a Comment
Read more

"Unlocking the Hidden Power: The Intertwined Relationship of Water and Wind Energy"

Photo Credit: Unsplash.com The movement of water in water bodies, particularly in oceans and rivers, plays a crucial role in the generation of wind energy. The wind is caused by the unequal heating of the Earth's surface, which leads to the creation of pressure gradients that drive air masses to move from high pressure areas to low pressure areas. Water bodies, particularly the oceans, have a significant impact on the Earth's climate and weather patterns, and this in turn affects the wind patterns. The ocean plays a crucial role in generating wind energy because it has a much higher heat capacity than land. As the sun's energy heats the ocean, the water temperature increases, which in turn causes the air above the ocean to also heat up. As the air above the ocean rises, it creates a low pressure area, which leads to the development of wind. The wind then blows towards the land, where it is used to generate electricity through wind turbines. Rivers also play a significant ro...
Post a Comment
Read more