Daily News Wrap-Up: GST Rates for Solar Water Heaters and Systems Hiked to 12%
Ferrari installs a 1 MW solid oxide fuel cell plant to provide energy for its production activities
Here are some noteworthy cleantech announcements of the day from around the world:
The Goods and Services Tax (GST) council announced the increase of GST on solar water heaters and systems from 5% to 12%. The change will be effective from July 18, 2022. The meeting was under the chairmanship of the Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman. The council said that a group of ministers would be constituted to address various concerns raised by the states on the amendments to the Central GST Act.
Ferrari announced the installation of a 1 MW solid oxide fuel cell plant at its Maranello facilities, which will provide 5% of the energy required for the company’s production activities while reducing fuel consumption and emissions. The plant built by Bloom Energy will help reduce more than 99% of the pollution that causes the build-up of smog and particulate matter. The company said the gas requirements would be cut by around 20% compared to the CHP (combined heat and power) cogeneration systems.
EDP Renewables reached an agreement with Xuan Thien Group, a renewable energy developer in Vietnam, to acquire two solar PV projects totaling 200 MWac (255 MWdc). The projects are located in the Thuan Bac district in Vietnam and started operations in 2020 under a 20-year power purchase agreement at $93.5 per MWh. With this transaction, EDPR doubles its operational capacity in Vietnam. The transaction is subject to regulatory and other customary precedent conditions. Hyperion Investment Advisory Limited was Xuan Thien’s advisor in the transaction.
Quinbrook Infrastructure Partners, a renewables infrastructure investment manager, acquired the exclusive development rights for Project Uskmouth, a 230 MW/460MWh Battery Energy Storage System (BESS) located at the site of the former Uskmouth coal-fired power station in South Wales. Quinbrook partnered with Energy Optimisation Solutions Limited (EOS) in the origination and development of Project Uskmouth. Quinbrook affiliate Private Energy Partners (PEP) and EOS are jointly undertaking the design and development phases of Project Uskmouth with PEP leading equipment procurement, construction, and operational management. The development includes a modification of the existing grid connection agreement and a planning application, the latter to be determined by the Newport City Council. Construction is envisaged to take up to 18 months, with the project expected to become operational towards the end of 2024.
Rolls-Royce entered the hydrogen production market by acquiring a 54% majority stake in electrolysis stack company Hoeller Electrolyzer, whose innovative technology will form the basis of a new range of mtu electrolyzer products from its Power Systems division. Hoeller Electrolyzer, based in Wismar, Germany, is an early-stage technology company developing highly efficient polymer electrolyte membrane (PEM) stacks, under the brand name Prometheus, for cost-effective hydrogen production. Rolls-Royce aims to develop a complete electrolyzer system and use its global sales and service network to achieve potential worldwide sales. The company said development work on the first mtu electrolyzer using a stack from Hoeller Electrolyzer is already underway. It is expected to go into operation in 2023 at the Validation Center in Friedrichshafen to demonstrate how an electrolyzer fits into the overall architecture of a microgrid. An initial customer project is planned for 2024.