In the wake of the IMO’s decision to postpone adoption of a zero and near-zero fuels support framework, the European Commission has launched its own support scheme for sustainable aviation (SAF) and maritime (SMF) fuels. Strategic, targeted investments will be made to scale up EU-based production of renewable and low-carbon fuels, unlocking the fuel volumes required.
The first two recipients in Japan’s long-term contracts for difference program for low-carbon hydrogen production have been announced. Resonac will produce hydrogen from used plastics and subsequently ammonia, with Japanese chemicals giant Nippon Shokubai to act as offtaker.
At the recent Tokyo International Conference on African Development, Japan-based Mizuho financial group signed MoUs with the Namibia Green Hydrogen Programme and Tsubame BHB for project development in Africa.
The Solar Energy Corporation has completed its first subsidy program for renewable ammonia, awarding the thirteenth and final contract this week. ACME Cleantech won six contracts, totalling 370,000 tons production per year.
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.
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.
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.