@Green September/October 2020 | Page 4

BP plans to make oil-like returns from renewables

04 foreign news

@ green | September-October , 2020
Ban on plastic straws , stirrers and cotton buds comes into force in England
The supply of plastic straws , stirrers , cotton buds and other plastic items in England is now illegal , with the long-delayed ban on a host of single-use plastic items having finally come into effect recently , the government announced .
The ban , which was due to come into force six months ago before being controversially postponed in the wake of the coronavirus crisis , aims to eliminate the estimated 4.7 billion plastic straws , 316 million plastic stirrers and 1.8 billion plasticstemmed cotton buds used in England every year . If forms part of the government ’ s efforts to stem the tide of plastic pollution , as it targets the elimination of avoidable plastic waste by 2042 , as set out in its 25 Year Environment Plan .
“ Single-use plastics cause real devastation to the environment and this government is firmly committed to tackling this issue head on ,” said Environment Secretary George Eustice .
“ The ban on straws , stirrers and cotton buds , is just the next step in our battle against plastic pollution and our pledge to protect our ocean and the environment for future generations .” — Business Green
University of Cambridge targets full fossil fuel divestment by 2030
The University of Cambridge has committed to divest from all direct and indirect investments in fossil fuels by 2030 , as the institution works towards its goal of reaching net zero greenhouse gas emissions by 2038 .
The Cambridge University Endowment Fund ( CUEF ) - which at £ 3.5bn is one of the biggest of its kind in Europe - plans to ramp up investments in renewable energy as it switches off the lights on fossil fuels , Vice-Chancellor Professor Stephen J Toope announced in his annual address recently .
“ The University is responding comprehensively to a pressing environmental and moral need for action with an historic announcement that demonstrates our determination to seek solutions to the climate crisis ,” Toope said .
“ We will approach with renewed confidence our collaborations with government , industry and research partners around the world as together we work for a zero carbon future .” — Business Green
Sustainable gold extraction from electronic waste
The importance of extracting gold from products already in circulation is more important than one might think .
“ We ’ ve developed a biological process for recovering valuable metals from weird and wonderful feedstocks , such as electronic waste ,” said Ollie Crush , the chief scientific officer of Mint Innovation , a clean tech firm based in Auckland , New Zealand .
“ Nearly 50 per cent of the value of e-waste comes from the gold that ’ s used in the circuitry ,” Cameron Weber , a senior lecturer at the University of Auckland ’ s School of Chemical Sciences , said .
“ In fact , there ’ s actually more gold in e-waste as a concentration than there is in gold ore that ’ s been mined , which shows you the value of urban mining and being able to take ... your e-waste and recycle and reuse some of the elements that are found in it .
“ And so , coming up with methods for being able to separate and recycle those will be really critical .” Looking ahead , Crush explained the process developed by the company could potentially have a number of interesting applications .
“ The future for Mint Innovation is to prove that our technology works with a number of different feedstocks ,” he said .
“ We ’ ve already shown that it works with electronic scrap , and we ’ re now beginning to research recovery in palladium and other metals from scrap automotive catalytic converters ,” he added , explaining that a wide range of potential “ feedstocks ” existed . — CNBC ( Sustainable Energy

In a first , TVA to install its own 40-MWh battery storage system

The Tennessee Valley Authority ( TVA ) announced the installation of its first owned and operated , grid-scale , battery energy storage system near an industrial complex in Vonore , Tennessee , 35 miles southwest of Knoxville .
The Vonore Battery Energy Storage System ( BESS ) will use lithium-ion batteries to store 40 megawatt-hours ( MWh ) of energy .
Once fully operational , by 2022 , the system will provide high-quality power to local industrial customers served by Loudoun Utilities Board , says TVA . The Vonore BESS aims to improve the quality of electrical service provided to local manufacturing facilities without building additional transmission lines .
According to Loudoun City Manager , and Utilities Board General Manager , Ty Ross : “ The battery energy system will allow energy to be stored when demand and prices are low for use when demand is higher , reducing costs for Loudon Utilities and local industries .”
The Vonore BESS will be TVA ’ s first battery storage system to go online , but not the only grid-scale battery storage system that TVA will use . In February , TVA announced a solar project in Lowndes County , Mississippi , for its
The shift to low-carbon energy will transform oil companies , and BP wants to be at the vanguard of the industry in making those changes , having set a net-zero target for 2050 earlier this year . But there ’ s one thing BP doesn ’ t want to change : the returns it offers its investors .
In a three-day event for investors recently , BP provided more detail on how it hopes to build 50 gigawatts of renewable power capacity while pocketing the kind of returns it ’ s used to . As it rethinks its strategy under new
CEO Bernard Looney , BP has temporarily halved
Green Invest programs that will include 200 MWh of battery energy storage .
Both battery storage projects are part of the 2019 TVA Integrated Resource Plan , a comprehensive study that shapes how TVA will provide low-cost , reliable and clean energy for the next 20 years . Additionally , the IRP calls for adding up to 5 gigawatts ( GW ) of energy storage capacity through 2038 .
“ TVA engineers , scientists and technicians are continually working with our industry partners to shape the future of the energy marketplace and power the long-term economic health of our seven-State region ,” said Dr . Joe Hoagland , vice president , TVA Innovation and Research .
“ We are developing and investing in the latest and best technologies to ensure the steady flow of reliable and clean energy as we build out the nation ’ s premier energy system .”
Senior Manager Dale Harris , who leads research and development for TVA , stated : “ This pilot project will help us to innovate and adopt new technologies that will provide businesses clean , low-cost , reliable electricity while helping them meet their sustainability goals .” – Renewable Energy World

BP plans to make oil-like returns from renewables

its dividend . But that “ reset ” isn ’ t meant to be forever .
BP is targeting returns of 8 to 10 percent from its low-carbon power business . That compares to an average margin for oil and gas exploration of 8.5 percent , according to NYU ’ s Stern School of Business .
“ Can we deliver the 8 to 10 percent returns from renewables ? The answer is very simply : yes ,” Looney said this week . “ We actually believe we can do better ; these returns could turn out to be conservative .” – Greentech Media