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INDUSTRY NEWS
FERVO ENERGY ANNOUNCES 31 MW POWER PURCHASE AGREEMENT WITH SHELL ENERGY
Fervo Energy(“ Fervo”), a leader in next-generation geothermal development, today announced the execution of a 15-year power purchase agreement with Shell Energy North America( US), L. P.(“ Shell Energy”) for 31 MW of 24 / 7 carbon-free geothermal power( the“ Agreement”). Shell Energy will use the power purchased under the Agreement to serve its retail load customers beginning in 2026.
The Agreement will make Shell Energy the first offtaker to receive electrons from Phase I of Cape Station, Fervo’ s flagship geothermal development in Beaver County, Utah. The Agreement also marks
RES, a large independent renewable energy company, has been awarded new solar operations and maintenance( O & M) contracts in the UK and Spain by The Renewables Infrastructure Group( TRIG). The agreements build on a longstanding partnership between the parties and expands RES’ European services footprint.
The new agreements include a five-year contract renewal covering 11 solar PV sites across the UK, totalling 121MW. Following an independently managed competitive tender process, RES has also been awarded a new five-year contract to operate and maintain four solar sites and a substation in Cadiz, Spain, adding a fur- the official upsizing of Cape Station from 400 MW to 500 MW – a major milestone enabled by recent breakthroughs in Fervo’ s well design and field development strategy. By increasing casing diameter, optimizing well spacing using fiber optic sensing, and implementing staggered bench development, Fervo is now able to generate more megawatts per well. These innovations significantly improve project efficiency and economics, allowing for a 100 MW capacity increase without the need for additional drilling. Courtesy of Fervo Energy.
RES AWARDED NEW O & M CONTRACTS BY TRIG IN UK AND SPAIN
ther 234MW. Together, the sites generate enough clean electricity to power more than 200,000 homes.
TRIG, a FTSE 250-listed investment company, is focused on generating sustainable returns from a diversified renewables portfolio. Since entering the Spanish market in 2021, its solar assets in Cadiz have become an important part of the portfolio, reaching operational status in 2023. Courtesy of RES.
HD HYUNDAI AND MAERSK SIGN MOU FOR COOPERATION ON DECARBONIZATION TECHNOLOGY AND INTEGRATED LOGISTICS SERVICES
Maersk announced the signing of a Memorandum of Understanding( MOU) to establish a collaboration on decarbonisation solutions for vessels, while HD Hyundai plans to expand the use of Maersk’ s integrated logistics services across its affiliates.
The signing ceremony, held at the HD Hyundai Global R & D Center( GRC) in Seongnam, Gyeonggi Province, was attended by key figures including HD Hyundai Executive Vice Chairman Chung Kisun and Maersk Chairman Robert Maersk Uggla, along with other relevant officials.
Initially, the two companies will conduct a six-month trial applying Avikus’ HiNAS, an advanced navigation solution for energy-efficient vessel operations, and HD Hyundai Marine Solution’ s OCEANWISE route optimisation on a Maersk container vessel built and delivered by HD Hyundai Heavy Industries. The purpose of this trial is to validate the fuel-saving and greenhouse gas emission-reduction impacts of optimised navigation systems. They further plan to explore cooperation in the field of ship retrofitting for decarbonisation, including optimising engine efficiency, increasing container ship cargo capacity, and retrofitting dual-fuel propulsion systems and will also collaborate on joint research to examine the feasibility of the Solid Oxide Fuel Cell( SOFC) system. Courtesy of Maersk.
STATKRAFT STRENGTHENS CORE ACTIVITIES AND COMPETITIVENESS FOLLOWING STRATEGIC REVIEW
European producer of renewable energy Statkraft will further strengthen its core competitive advantages by prioritising its flexible hydropower fleet in the Nordics, industry-leading market operations – and solar, wind and battery activities in Europe and South America.
Last year, after Birgitte Ringstad Vartdal took over as CEO, Statkraft sharpened the company’ s strategy by focusing on fewer technologies and markets to build scale and strengthen competitiveness and value creation. While the underlying driv-
ers remain strong, the energy transition is moving at a slower pace due to increased global uncertainty, higher costs and lower power prices. The new strategy continues to focus on core activities, placing near term cash flow over volume growth, and reducing complexity and cost.
The company has an ambition to invest NOK 16 – 20 billion annually in the coming years, including large hydropower capacity upgrades in Norway, and maintenance of the large operational asset fleet and onshore wind power developments in Sweden and Norway. In Europe and South America, Statkraft has a large pipeline of projects and will continue to grow in solar, wind, batteries and grid services, but at a lower growth rate than previously planned. Courtesy of Statkraft.
JUNE 2025 • FUGITIVE EMISSIONS JOURNAL 19