Pellet producer Viridis Energy for sale

Publically traded Canadian pellet production company Viridis Energy Inc. is up for sale.

Just weeks after the company announced it would cease operations at Okanagan Pellet Co., its West Kelowna, British Columbia, wood pellet production facility, the company informed investors that its lender, Royal Bank of Canada, has made a demand for payment in full of OPC’s outstanding debt, and that the company could not pay the $2.61 million sum by the date specified in the demand notice.

Viridis stated its reasons for ceasing operations at OPC as being recently discovered structural challenges of the building, and additional requirements from local authorities concerning dust management.

To read the full story click here: Biomass Magazine 

 

Nippon Paper to install torrefied pellet demonstration plant

Nippon Paper Industries Co. Ltd. has signed a joint research and development agreement with Phoenix Pulp and Paper Public Co. Ltd., a core company of SCG Packaging's Fibrous Business Chain, invested by Nippon Paper Industries in Thailand.

In the course of this joint research, they will install demonstration facilities in Thailand for the production of woody biomass fuel (torrefied pellets) using torrefaction technology along with the woody biomass resources that PPPC possesses.

o read the full story click here: Biomass Magazine

Australian climate policy vacuum looms as government halts funding to ERF

The budget proposed by the Australian government Tuesday contained no fresh funding for the Emissions Reductions Fund (ERF), meaning the country’s primary tool to drive carbon cuts looks likely to run out of cash at the end of the year.

Finance Minister Mathias Cormann had already signalled in February that the A$2.55-billion ($1.93-billion) ERF would not receive any further money in this year’s budget.

Even though the budget cut was expected, questions remain as to Australia’s ability to cut emissions going forward and the future of the country’s carbon project developers.

To read the full story click here: Carbon Pulse

Poll shows 57% of Australians back carbon market proposal

More than half of Australians back the opposition Labor party’s proposal to raise the nation’s 2030 CO2 target and introduce an emissions trading scheme, a poll showed Tuesday.

Labor maintained its 52-48 majority on a two-party preferred basis from last month ahead of the likely July 2 election, the Essential poll showed.

Climate change is emerging as one of the major issues yet again in an Australian election campaign after Labor’s policy release last week, which included setting up two emissions trading schemes.

To read the full story click here: Carbon Pulse

European Commission publishes ‘naughty list’ for 2015 EU ETS compliance

Around 95 installations have been marked by the European Commission as being non-compliant for not surrendering enough carbon allowances or offsets against their emissions for last year, according to data published this week.

UK-based Teesside Integrated Iron & Steel Works, the majority of which closed down in 2015, handed in 11.7 million units against its emissions of 15.7 million tonnes last year, making it the facility with the largest shortfall.

Second largest was Romania’s coal-fired Romag Termo power station, which only surrendered 2.2 million units against 4.4 million tonnes of emissions.

To read the full story click here: Carbon Pulse

Early activation of Paris Agreement to boost confidence, if not targets

The Paris Agreement could come into effect in 2018, two years earlier than originally planned, according to UN climate chief Christiana Figueres, increasing the currently slim chances that nations will swiftly deepen their emission reduction pledges.

An early start to the Paris pact is possible because in the final text there was no reference to the deal coming into effect from 2020, Figueres said during a question-and-answer session after delivering a lecture in London late Monday, Bloomberg reported.

Read the full story here: Carbon Pulse 

 

Shanghai CO2 price fall continues even as fresh demand emerges

Shanghai CO2 allowances fell another 10% on Wednesday, the maximum allowed daily price movement, even as buyers stepped in to pick up permits at record low levels.

SHEAs ended Wednesday at a fresh record low of 4.20 yuan ($0.65), down half a yuan on the day, as smaller emitters continued to offload their annual allowance surplus.

The price has now dropped some 61% since Mar. 25.

Over 55,000 allowances traded Wednesday. That was well above the combined 60,000 units traded over the previous three sessions, which itself was well above the low turnover typically seen outside of the weeks running up to the June compliance deadline.

Read the full story here: Carbon Pulse 

GE to build world’s largest commercial biomass-fired power plant in Belgium

GEhas been selected by Mechelen-based Belgian Eco Energy to build the largest greenfield, 100 percent biomass-fired power plant in the world. The plant, which will be powered by wood chips and agro residues, will generate approximately 215 megawatts (MW) of clean energy for the industry and nearby households reaching over 60 percent efficiency when operating in cogeneration mode.  

Read the full story here: Biomass Magazine

BP in 4m Shenzhen permit buy-back, China’s biggest carbon deal to date

BP has signed a buy-back deal with a Shenzhen-based energy producer for 4 million CO2 allowances in what is the biggest deal to emerge in China’s carbon market so far, as some traders look for ways to bank in on the uncertainty surrounding the transition to a national emissions trading scheme.

The UK-headquartered oil major signed the contract with Shenzhen Energy Group at a conference on Saturday, according to an announcement by the China Emissions Exchange, which hosts trading in the city’s pilot ETS.

BP bought the Shenzhen Emissions Allowances (SZEAs) and will sell them back at a fixed price ahead of the June annual compliance deadline.

Read the full story here: Carbon Pulse

China likely to allow banking of pilot CO2 permits, reduce free allocation

China is likely to let allowances from the pilot carbon markets be banked to the national emissions trading system, but will compensate by reduced allocation levels.

Chinese carbon traders are awaiting clarity on what will happen to the millions of surplus allowances from the seven pilot markets when the national ETS launches next year.

Ruling them ineligible in the national market would likely see pilot prices drop to near zero for the next 15 months.

Read the full story here: Carbon Pulse

South Korean CO2 price hits new highs

Prices in the Korean carbon market surged to new all-time highs this week despite recent changes in the administration of the ETS that have brought widespread anticipation that supply will increase.

The offset contract on the Korea Exchange (KRX) rose 10% on Tuesday to close at 17,600 won ($14.59), with 8,300 Korean Carbon Units (KCUs) changing hands.

 

Read the full story here: Carbon Pulse 

South Africa plans to publish National offset scheme rules in April

South Africa aims to publish draft regulations in late April establishing which domestic offset types can be used to comply with the country’s planned carbon tax.

The draft will establish what offset standards – such as the UN’s CDM, Gold Standard or the VCS – will be eligible, as well as a list of project types that emitters are entitled to use, according to Cecil Morden, a senior official in South Africa’s finance ministry.

Offsets from domestic projects within South Africa are likely to be prioritised. 

Read the full story here: Carbon Pulse

JP Morgan strong stance on scaling back investments in coal mining & power generation

JP Morgan has aligned itself with Morgan Stanley & Bank of America in announcing that it will pull back from investing in coal mines and power plants, putting such transactions in the same category as those that support illegal logging or child labour.

The US-headquartered investment bank said it will cease funding new coal-fired power plants in high income OECD countries, adding that “the financial services sector has an important role to play as governments implement policies to combat climate change”.

However, JP Morgan said it would continue to provide financing to new coal plants outside of such countries that employed efficient, low-carbon “ultra-supercritical steam generation” technology.

Read the full story here: Carbon Pulse

GE to build world’s largest commercial biomass-fired power plant

GE recently announced that it has been selected by Mechelen-based Belgian Eco Energy to build the largest greenfield, 100 percent biomass-fired power plant in the world. The plant, which will be powered by wood chips and agro residues, will generate approximately 215 megawatts (MW) of clean energy for the industry and nearby households reaching over 60 percent efficiency when operating in cogeneration mode. 

BEE’s new plant also will be fitted with a district heating system of approximately 110 MW thermal energy to supply heating to industries and households in the city of Ghent, Belgium. Commercial operation is planned for 2019.

ead the full story here: Biomass Magazine 

Sumitomo invests in Cosan’s sugarcane pellet business

Sumitomo Corp. recently signed a contract to acquire up to 20 percent of Cosan Biomassa S.A., a subsidiary of the world’s largest sugar and ethanol company, Cosan S.A.Industria e Comercio, and producer of sugarcane pellets for power generation.

“Brazil is already among the largest producers and exporters of agricultural commodities in the world.  Pelletized biomass is a new commodity being created to serve the low carbon economy,” said Mark Lyra, Cosan Biomassa CEO.

Read the full story at Biomass Magazine 

 

 

Interest in US ethanol surges in Mexico

Interest from Mexican buyers in US ethanol imports is growing, with purchases increasing 1,756% from 2006 until last marketing year.

According to the US Grains Council (USGC), in 2006/2007 Mexico bought just 6.8 million litres of US ethanol, while during the 2014/2015 marketing year purchases were 126.5 million litres.

Read the full story here: Biofuels-news.com 

Death of US Supreme Court justice may improve odds for Clean Power Plan

The sudden death of US Supreme Court Justice Antonin Scalia on Saturday has ended the court’s conservative majority, making it harder for opponents of President Barack Obama’s Clean Power Plan to block the measure through litigation.

The justices last week voted 5-4 , and in line with their ideological leanings, in support of a request from a coalition of nearly 30 mainly Republican-led states to stay implementation of the CPP until a handful of lawsuits against the plan had been decided, effectively putting a hold on the EPA initiative to cut greenhouse gas emissions from coal-fired power plants, the foundation of the country’s climate pledge under last year’s Paris Agreement.

Scalia was one of the court's most right leaning justices, openly questioning whether GHGs should be treated in a similar way to other pollutants. 

Read the full story here: Carbon Pulse