Energy
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Essential energy industry news & intel to start your day.
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August 26, 2022
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Today’s Top News
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Panasonic Holdings Corp. is looking into building a roughly $4 billion electric vehicle battery plant in Oklahoma, according to people familiar with the matter, though it is not guaranteed a deal will be reached. Panasonic, which supplies batteries to Tesla Inc., would build its new plant near another $4 billion battery factory that the company plans to construct in Kansas and also close to Tesla’s new EV factory in Austin, Texas. (The Wall Street Journal)
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The Biden administration will help 24 states plug orphaned oil and gas wells with $560 million allocated from a $4.7 billion program funded by last year’s infrastructure law. The funding for the abandoned wells is the largest single investment in the history of oil field cleanup in the United States, administration officials said. (E&E News)
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Plug Power Inc. struck a deal with Amazon.com Inc. to supply 10,950 tons of green hydrogen annually starting in 2025, enough supply to power 30,000 forklifts or 800 long-haul trucks. Using green hydrogen, which is processed from renewable energy sources like wind and solar, will help Amazon achieve its sustainability goals as it moves to replace gray hydrogen produced from fossil fuels, the company said. (CNBC)
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Dangerously high heat will hit most of the globe at least three times more often as a result of worsening climate change impacts, according to a study published in Communications Earth and Environment. By mid-century, those living in Earth’s mid-latitudes could experience a heat index of 103 degrees Fahrenheit or higher between 20 and 50 times a year, the study said. (The Associated Press)
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US wind additions in Q2 hit lowest level since 2018
Adnan Munawar and Gaurang Dholakia, S&P Global Market Intelligence
Wind developers connected 945 MW of new capacity to U.S. grids from April to June, a 77% decrease from the 4,098 MW of wind capacity that came online during the same period of 2021, according to S&P Global Market Intelligence data.
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