Daily News Wrap-Up: Jindal Steel Sells its Stake in Coal Power to Reduce Carbon Footprint

Siemens Energy Partners with Messer Group to work on green hydrogen projects


Here are some noteworthy cleantech announcements of the day from around the world:

Jindal Steel & Power Ltd will sell a 96.42% stake in electricity-generation subsidiary Jindal Power to Worldone for ₹30.15 billion (~$403.30 million). The deal includes 3,400 MW coal-fired power plants in Chhattisgarh and other non-core assets owned by Jindal Power. The divestment is subject to receipt of requisite approvals, including approval from shareholders of the company. This divestment is in line with the firm’s environmental, social, and corporate governance objectives to be among the top 10 lowest Co2 emitting steel companies globally. The divestment will significantly reduce its carbon footprint by almost half.

A Solar Dryer and Pyrolysis pilot project at Chennai is slated to offer an innovative approach for smart cities to transform urban organic waste into biochar and energy. The pilot is part of the Indo-German project ‘Pyrasol’. It was awarded to CSIR-CLRI by the Indo-German Science & Technology Centre. The project aims to lead to technology development for the joint processing of fibrous organic waste and sewage sludge of Indian smart cities into hygienic and highly valuable biochar associated with energy recovery, carbon sequestration, and environmental improvement.

Siemens Energy and Messer Group have entered into a cooperation agreement to work on green hydrogen projects in the 5 to 50 MW range for industrial and mobility applications. Under the agreement, Messer Ibérica has submitted three clean hydrogen projects in the chemical complex of Tarragona to the Spanish government. The projects will have a total electrolyzer capacity of 70 MW.

California-headquartered Bloom Energy has deployed its first 100 kW fuel cells powered solely by hydrogen. Installed in Ulsan, South Korea, the project will generate zero-carbon onsite electricity. The solid-oxide fuel cells use hydrogen byproducts generated by SK Advanced to create power without CO2 emissions. Bloom Energy will supply, operate and maintain the cells.

The European Bank for Reconstruction and Development has backed €500 million (~$603.87 million) inaugural green Eurobond issuance of Greek company Mytilineos. BRD’s €60 million (~$72.46 million) participation will help the company implement its sustainability strategy. The Mytilineos green Eurobond is aligned with the International Capital Market Association’s (ICMA) Green Bond Principles, which advocate transparency and disclosure and foster integrity in developing the green bond market.

bp, Iberdrola and Enagas have reached an agreement to study the feasibility of building at bp’s plant in Castellón, the first phase of the largest green hydrogen production facility in Valencia. The project would be located in the bp refinery in Castellón, where a 20 MW electrolyzer will be built. It will be powered by renewable energy produced, among other sources, by a 40 MW photovoltaic plant.