For instance, at the first stage of the program, the current carbon content in the soil in the fields of the participating farms is determined as a reference point.
The next stage involves the implementation of agriculturally climate-friendly practices with their constant improvement and supplementation.
At the last stage, the main task is to develop and configure an accurate and reliable digital tool for monitoring, reporting, and verification.
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The ambassador of the EU has appealed to Ukraine to increase CO2 fees
According to the information provided by Matti Maasikas, the Head of the Delegation of the European Union to Ukraine, the payment in Ukraine for CO2 emissions is 15 Eurocents per ton, while in the EU it is over EUR 50. He has also mentioned that the Parliament of Ukraine has enacted the draft law №5600 in the first reading, which contains a proposal to increase the fee for CO2 emissions from 10 to 30 UAH (EUR0.98) per ton.
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If the project worth 300 million euros is approved by European partners, the hydrogen plant may become the first one in Ukraine.
In 2020, the European Union presented a hydrogen strategy, which provides for the widespread use of so-called green hydrogen, which is obtained through electricity from renewable sources - from wind and solar power plants (this gas should replace carbon energy carriers).
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The hydrogen produced would then be transported to Germany (that is expected to be a major demand area of hydrogen in Europe) and the EU. The hydrogen corridor will also enable hydrogen transport between hydrogen production facilities and hydrogen consumers in the Czech Republic and Slovakia.
The project promoters believe that the Central European Hydrogen Corridor can be created partially by repurposing existing gas infrastructure, combined with targeted investments in new dedicated hydrogen pipelines and compressor stations. This enables dedicated hydrogen transport over long distances at an affordable cost.
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Ukrenergo Eurobond Issue Approved
By Resolution #1049 dated October 11, 2021, the Cabinet of Ministers of Ukraine has approved the issuance of a state guarantee to cover UAH 22.8 billion debut Eurobond issue by NEC “Ukrenergo”.
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The bond proceeds will be applied to refinance the outstanding debt owed by NEC “Ukrenergo” to the Guaranteed Buyer for the services relating to an increase of renewable electricity generation. At present, an aggregate debt owed to the Guaranteed Buyer amounts approximately to UAH 25,1 billion for electricity produced in 2021 and 2020.
The contemplated bond issue is long awaited great news for renewables sector. It is expected that the placement of bonds and repayment of outstanding debts towards the renewables producers would increase attractiveness of the Ukrainian renewables projects to foreign investors.
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The regulator has extended until November 1, 2021 the limitation to 0 MW of the carrying capacity in terms of interstate crossings between Ukraine and non-energy countries (Russian Federation and the Republic of Belarus), which is distributed at monthly and daily auctions for 2021.
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The final decision on certification would be issued after fulfillment of a range of requirements, in particular, (1) confirmation that assignment of "Operator Rynku" State Enterprise (the entity responsible for organization of the sale and purchase of energy on the day-ahead market and intraday market, assists in ensuring of the energy balance etc) under the sphere of management of the Ministry of Energy complies with the requirements of independence and separation of the transmission system operator; (2) completion of the transfer of the universal services suppliers owned by the state under the control of "Energoatom" State Enterprise (the national operator of the nuclear power plants); (3) implementation of further amendments to the internal regulations ensuring strengthening and securing of the separation and independence of the TSO.
The preliminary decision on certification requires approval of the Energy Community Secretariat.
It is the second decision on preliminary certification, the first was issued 02 June 2021. After the first preliminary decision on certification was issued, Yanez Kopach, Director of the Energy Community Secretariat, in his speech at 12th European Ukrainian Energy Day emphasized that the Energy Community Secretariat is not capable of approving the preliminary decision on certification of NPC Ukrenergo until Ukraine resolves the problems with the NPC Ukrenergo financial indications (the loses in 2020 amount to UAH27.5 billion, or EUR). Such high loses have been caused by the decision to cover expenses for compensation to renewable producers with the receivables from the transmission services.
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The new platform was created to implement the Auction rules in accordance with the Resolution of the NEURC dated 03.04.2020, № 763 “On approval of curtailment management rules and the procedure for allocation of cross-border capacity” adopted within the framework of the implementation in the legislation of Ukraine of the provisions of Regulation (EC) 714/2009 on conditions for access to the network for cross-border exchanges in electricity.
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In particular, the Electronic Auctions Platform implements the functions provided for in the new Rules and Procedure:
- a new method of determining the allocation structure: 35% of the available cross-border capacity at a relevant interconnection is offered at yearly and monthly auctions, and 30%– at daily auctions;
- a new principle of reduction, if necessary, of the physical transmission right (PTR) for its holders. The previous Rules stipulated that first the PTRs purchased at daily auctions are limited, then – at monthly auctions, and finally – at yearly auctions. Under the new Rules, restrictions apply to all PTRs on a pro rata basis, regardless of the auction at which they are purchased;
- control over the fulfillment of the condition on non-allocation of the physical transmission right to several interconnected (affiliated) companies in the amount of more than 50% of the offered capacity;
- possibility of using long-term transmission rights (LTTRs) on the principle of “use-it-or-sell-it” (UIOSI) for resale at daily auctions by holders of yearly and monthly unused ones;
- page for notifications of readiness to transfer (sell) or accept (buy) PTRs;
- checking the amount of financial security required for participation in auctions. In particular, the amount of this security (credit limit) has been changed, which is now determined in accordance with the amount and price proposals specified by the bidder in the bid for participation in the auction. There is also an opportunity to increase the credit limit;
- automatic verification of user status for participation in auctions;
- calculation of payment for actually provided services, penalties for late payment, as well as fines for the less than 80% use of daily PTRs , etc.
The new auction platform also provides technical capabilities for data exchange with related automated systems:
- MMS to obtain market participant status, nomination of LTTRs for the formation of daily auction details and calculation of compensation for non-nominated PTRs;
- JSC Oschadbank automated system, which allows participants to see the balance on the ESCROW accounts to control the financial security, as well as direct payment for the services actually provided;
ERP (Enterprise Resource Planning System) for automated formation of acts for provided services, non-nomination and return, as well as control of actual payment for provided services.
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IKEA, the world’s biggest furniture brand, will start selling renewable energy to households in Sweden next month. Ingka Group, the owner of most IKEA stores worldwide, said households would be able to buy affordable renewable electricity from solar and wind and track their usage through an app.
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Ingka’s partner Svea Solar, which produces solar panels for IKEA, will buy the electricity on the Nordic power exchange Nord Pool and resell it without a surcharge. Households will pay a fixed monthly fee plus a variable rate.
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UK government launches plan for a world-leading hydrogen economy
The British government expects that the adoption of the hydrogen economy strategy will allow to support over 9,000 UK jobs and unlock £4 billion investment by 2030.
The government’s approach is based on the UK’s previous success with offshore wind, where early government action coupled with strong private sector backing has earned the UK a world-leading status.
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The Kincardine Offshore Windfarm is expected to generate up to 218 GWh of clean electricity each year, enough to power 55,000 Scottish households. The project is comprised of a 2MW Vestas turbine in addition to five 9.5 MW Vestas turbines. The developers of the project expect that such offshore installations will play a prominent role in the development of sustainable energy all over the world in the future.
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Canada’s largest municipally-owned electric utility has launched a pilot program that allows customers with solar panels, battery storage, and electric vehicles to participate in a marketplace using blockchain technology. As for now, twenty-one household is expected to participate in the three-month pilot program.
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According to a report from the US Department of Energy, the share of solar generation in the US electricity mix could increase to 37% by 2035 and 44% by 2050 if the country adheres to its goal of reducing the consumption of oil and other fossil fuels. The economic effect of investments in solar energy and other renewable energy sources (renewable energy sources) could amount to about $ 1.7 trillion.
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Swiss startup Climeworks AG has launched four large installations for carbon dioxide capture in one of the geothermal parks in southern Iceland. According to the Climeworks website, the plants are capable of extracting 4,000 tons of CO2 per year, which is equivalent to the emissions of almost 800 gasoline cars.
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Officials in the U.S. and European Union are crafting a pledge to reduce global methane emissions by nearly a third by 2030, and pushing several of the world’s largest economies to join them. The agreement, which is aimed to be the first global initiative to cut emissions of methane, does not call upon specific targets for countries, but rather calls on support to reduce global and human-caused methane emissions by at least 30% by 2030.
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Scientists are going to launch an orbital SPP into space, which will transmit electricity to Earth. The project is planned to be implemented by 2049. The project involves the construction in orbit of large solar panels, which will be at a distance of 36 thousand km from Earth.
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Rays from the sun falling on solar panels will be converted into environmentally friendly electricity and transmitted to the planet in the form of microwave radiation. The advantage of this station is that the losses in the atmosphere will be only 2%.
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