 Newsweek article
Schulz agrees it is Spot on
Identifies the longer term storage as key role for Hydrogen as batteries are for short term , as well as
decarbonisation
RWE has a long history, having shifted from coal to renewables over the past decade. How has that transformation changed RWE?
At its core, RWE's mission remains the same—providing reliable electricity to consumers, industries and municipalities. We started in the old energy world, dominated by fossil fuels, but we have since transitioned towards clean energy. Our vision is to be able to deliver 24/7 clean, affordable electricity. Achieving this requires more than just wind and solar; it also calls for storage technology and flexible backup capacity, which is why gas remains part of our business, albeit with a clear path to decarbonize. Our target is carbon neutrality by 2040, in line with the 1.5-degree emission reduction pathway. Further, our investment program of 55 billion euros until 2030 is a testament to our commitment to clean technologies.
How do you decide which clean technologies to invest in?
Our strategy is balanced, with no single technology or market taking priority. The demand for green, decarbonized power is substantial, and power demand, especially in the U.S., is growing. Our investment approach reflects this, with around one-third going into offshore energy, 40 percent into onshore wind and photovoltaics (PV), and the rest into batteries and flexible generation. Geographically, we are investing around 35 percent in the U.S., 15 percent in the UK, 20 percent in Germany, with the rest spread across other markets.
Currently, much of our focus is on solar and wind, both onshore and offshore. These are the technologies driving immediate growth, but we also continue to explore how other technologies, like storage, can help balance power supply and demand.
Storage has been a big topic for a while. Are we nearing a point where it can be financially viable and deployable at scale?
When it comes to firming up power supply with storage, it is important to differentiate between short-term solutions like batteries and the long-term seasonal storage we still need to develop. Batteries can shift solar power into the evening and help with week-to-week balancing. However, they are not suited for seasonal storage, which remains a gap as we integrate more intermittent renewables.
That said, I believe we have reached an inflection point. Investments in battery storage technologies are substantial across markets like Europe and the U.S., where batteries are already becoming a profitable business due to the significant fluctuations in daily power prices. But for seasonal needs, we still rely on backup capacity, currently provided by gas, with the future potential for hydrogen-ready gas plants. |
Gimme
So angry? Refhyne 1 : Old technology
But you were right to bail out, I give you that.
so it owes you nothing, and you were right on BTC
Good for you. On 5th Dec you'll get the information you seek
I may be wrong but I do not see Schulz as a loser
He is playing for the big time. I believe they are there
Neptune V. No one challenged claim, Best , Cheapest
Why would you think Shell, no GH fan went for Refhyne2
A great many still believe in the future for Green Hydrogen |
Dr Simon Bourne, Chief Technology Officer, ITM Power: June 2024:
We are proud of the successful conclusion of the REFHYNE project.
This groundbreaking initiative has demonstrated the viability and potential of green hydrogen production in a refinery setting at an industrial scale.
The achievements of the project, which saw much of the work take place during the global pandemic, highlight the dedication of all partners involved, and ITM’s ability to deliver electrolyser projects even during the most testing of circumstances. Furthermore, the data gathered from REFHYNE shows ITM’s market leading stack performance together with extreme operational flexibility. REFHYNE has been a true lighthouse project that has made a substantial contribution to the industry. |
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