{"id":77477,"date":"2023-05-17T01:00:57","date_gmt":"2023-05-17T01:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/denmarks-topsoe-to-spend-big-on-electrolyzer-project-in-the-us-and-the-uks-lower-carbon-spends-big-on-solar-deployments\/"},"modified":"2023-05-17T01:00:57","modified_gmt":"2023-05-17T01:00:57","slug":"denmarks-topsoe-to-spend-big-on-electrolyzer-project-in-the-us-and-the-uks-lower-carbon-spends-big-on-solar-deployments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/denmarks-topsoe-to-spend-big-on-electrolyzer-project-in-the-us-and-the-uks-lower-carbon-spends-big-on-solar-deployments\/","title":{"rendered":"Denmark\u2019s Topsoe to spend big on electrolyzer project in the US and the UK\u2019s Lower Carbon spends big on solar deployments"},"content":{"rendered":"<p><strong>Danish engineering group Topsoe plans to spend USD 300 mn on a hydrogen <\/strong><strong>electrolyzer facility in the US<\/strong>, CEO Roeland Baan tells <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-15\/denmark-s-topsoe-plans-300-million-us-factory-to-build-hydrogen-electrolyzers?srnd=green\">Bloomberg<\/a>. Topsoe plans to make a final investment decision on the project \u2014 set to double the company\u2019s manufacturing capacity of the machines \u2014 by the end of the year. The firm is currently holding talks with prospective customers and authorities in the US on the best location for the facility, Baan said. The facility is set to be as big as a plant that Topsoe is building in Denmark with an initial capacity of 500 MW and a potential to grow 10x larger.<\/p>\n<p><strong>The UK\u2019s Low Carbon raises GBP 310 mn to expand solar deployments:<\/strong> UK renewables investment company Low Carbon has raised GBP 310 mn (c. USD 391.2 mn) in additional financing from the Commonwealth of Australia, Intesa Sanpaolo, and Dutch banking firms ABN AMRO and ING to increase solar energy deployments in the UK and the Netherlands, according to a <a href=\"https:\/\/www.lowcarbon.com\/news-feed\/low-carbon-secures-310m-in-second-finance-facility-with-leading-international-banks-to-drive-renewables-expansion\/\">statement<\/a>. The company will use the new funding to increase solar generation capacity in both countries by 448 MW to a total of 1 GW, the statement notes. Low Carbon \u2014 which manages some 1.3 GW of operational solar assets \u2014 has a target to supply some 20 GW by the end of the decade, and its current pipeline of renewables projects stand at some 8 GW, <a href=\"https:\/\/www.reuters.com\/business\/investment-firm-low-carbon-secures-39125-mln-solar-projects-2023-05-16\/\">Reuters<\/a> notes.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Microsoft <\/strong>signed an agreement with renewables developer <strong>Orsted A\/S<\/strong> to <strong>purchase 2.76 mn tons of durable carbon credits <\/strong>from Orsted\u2019s <strong>biomass energy and carbon capture plants<\/strong> in Denmark. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-15\/microsoft-inks-deal-to-pay-for-co2-stored-below-the-sea?srnd=green\">Bloomberg<\/a>)<\/li>\n<li><strong>The UK could make GBP 70 bn annually from renewable energy<\/strong> if it exports energy to mainland Europe. (<a href=\"https:\/\/www.theguardian.com\/uk-news\/2023\/may\/15\/uk-could-unlock-70bn-a-year-in-renewable-energy-report-claims\">The Guardian<\/a>)<\/li>\n<li><strong>South Korea\u2019s Hyundai Motor<\/strong> is investing <strong>USD 2.45 bn<\/strong> over <strong>10 years <\/strong>in expanding its <strong>electric vehicle production<\/strong> in <strong>Tamil Nadu, India<\/strong>. (<a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/south-koreas-hyundai-invest-245-bln-india-2023-05-11\/\">Reuters<\/a>)<\/li>\n<li><strong>Vietnam<\/strong> plans to more than double its <strong>power generation capacity<\/strong> to 150 GW by 2030 by harnessing <strong>wind energy<\/strong> among other sources. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/vietnams-pm-approves-135-billion-power-plan-2030-2023-05-15\/#:~:text=HANOI%2C%20May%2016%20(Reuters),while%20reducing%20reliance%20on%20coal.\">Reuters<\/a>)<\/li>\n<li><strong>Canada\u2019s Prime Minister Justin Trudeau<\/strong> landed in <strong>Seoul, South Korea<\/strong> yesterday where he is expected to explore with <strong>South Korea\u2019s President Yoon Suk Yeol <\/strong>partnership agreements aimed at increasing cooperation on <strong>critical minerals essential to EV production<\/strong>. (<a href=\"https:\/\/www.reuters.com\/world\/canadas-trudeau-visit-south-korea-focus-minerals-security-2023-05-16\/\">Reuters<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Danish engineering group Topsoe plans to spend USD 300 mn on a hydrogen electrolyzer facility in the US, CEO Roeland Baan tells Bloomberg. Topsoe plans to make a final investment decision on the project \u2014 set to double the company\u2019s manufacturing capacity of the machines \u2014 by the end of the year. The firm is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":77478,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,562,11,88,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-denmark","tag-enterpriseclimate","tag-renewables","tag-uk","wpautop","entry"],"acf":{"mongo_id":"68b65653-6ae1-43d2-91c1-202da77e4310","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/914.jpg","photo_position":"above","related_issue":[77457],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Denmark\u2019s Topsoe to spend big on electrolyzer project in the US and the UK\u2019s Lower Carbon spends big on solar deployments - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/denmarks-topsoe-to-spend-big-on-electrolyzer-project-in-the-us-and-the-uks-lower-carbon-spends-big-on-solar-deployments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denmark\u2019s Topsoe to spend big on electrolyzer project in the US and the UK\u2019s Lower Carbon spends big on solar deployments\" \/>\n<meta property=\"og:description\" content=\"Danish engineering group Topsoe plans to spend USD 300 mn on a hydrogen electrolyzer facility in the US, CEO Roeland Baan tells Bloomberg. 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