NatWest’s five-year Climate for Transition (CFT) framework will see the UK bank finance £200 billion worth of investments aligned with climate and transition focused finance. Low carbon fuels such as CCS-based and renewable hydrogen and ammonia feature prominently in the framework.
Larsen & Toubro and ITOCHU will develop and commercialise a 300,000 tons per year renewable ammonia plant in Kandla, on India’s west coast. L&T reportedly plans to invest over $5.6 billion in six ammonia production plants around Kandla, serving marine fuel, bunker and export markets.
Following the then-record delivery price submitted in early August, Jakson Green has now committed to supply 85,000 tons per year of renewable ammonia over a ten-year fixed contract, with a fixed delivery price of approximately $580 per ton. Three more price discovery data points were also announced last week, meaning we now have six of the thirteen subsidy winners announced.
Various elements – different definitions for “green” hydrogen, subsidy structures, and transportation & logistics costs – all contribute to the gap between discovered prices for the H2Global and SECI renewable ammonia auctions. More SECI auction results are expected in the coming days and weeks.
ITOCHU has signed a world-first contract with Sasaki Shipbuilding for a 5000 m3 ammonia-fueled, ammonia bunkering vessel. The vessel is set to be delivered by September 2027.
NTPC Renewable Energy is the second successful bidder in a series of renewable ammonia reverse auctions to be facilitated by the Solar Energy Corporation of India. The discovered price of $591 per ton is lower than the “record-breaking” bid from ACME announced last week.
ACME is the first successful bidder in a series of renewable ammonia reverse auctions to be facilitated by the Solar Energy Corporation of India. The discovered price of $641 per ton represents a substantial drop from the previous benchmark of $1,153 per ton of renewable ammonia, set in H2Global’s first auction late last year.
Hintco is inviting applications from renewable hydrogen and related fuel producers to participate in its supply-side auctions focussing on bidders from Africa, Asia, America & Oceania, and North America.
A new strategy roadmap launched alongside the recent AEA APAC conference envisions Port Hedland in the Pilbara region as a major clean fuel bunkering hub. In news from roadmap partners, Oceania Maritime Energy and SeaTech Solutions have received approval in principle for their ammonia bunkering vessel design (also at the APAC conference), and BHP has signed time charter contracts for two ammonia dual fuel Newcastlemax bulk carriers to carry iron ore to northeast Asia.
Following the passage of new legislation in the USA, the timeline has been set for hydrogen and ammonia producers to benefit from 45V tax credits. Construction on renewable hydrogen projects must begin by January 1, 2028, providing a short window of opportunity, particularly for the regional Hydrogen Hubs.