Page 13 - AsiaElec Week 11 2022

AsiaElec RENEWABLES AsiaElec

SK Group joins 8 Rivers for

Asian zero-emissions projects

SOUTH KOREA SK Materials Company, a member of South “SK’s technological and engineering capabil-
Korea’s SK Group, has invested $100mn in the ities will serve as a force-multiplier for 8 Rivers,
US clean technology firm 8 Rivers for the pur- while SK will leverage the partnership to deploy
pose of installing zero-emissions technology clean projects for its domestic and foreign oper-
at existing SK power projects throughout the ations,” 8 Rivers said in a statement announcing
Asia-Pacific region. the partnership.
The agreement made with 8 Rivers involves SK Group is the third-largest conglomerate
the formation of a joint venture company that in South Korea. In late 2020 the company said it
will research, develop and deploy the US com- would end all investment in new fossil fuel pro-
pany’s technologies throughout SK’s operations. jects. However, it came under criticism when it
Carbon capture, biomass carbon removal, direct announced a year ago that it would put $1.4bn
carbon capture from the air and hydrogen pro- into the Barossa-Caldita LNG project being
duction are among the technologies being devel- developed by Australia’s Santos in the Timor
oped by 8 Rivers that will enable SK to meet its Sea. SK came under considerable criticism from
target of reducing CO2 emissions by 200mn environmentalist groups for allegedly breaking
tonnes by 2030. its pledge, but SK argued that the project is not
While carbon capture has yet to be proved as new, since it has been investing in the LNG pro-
an effective way to remove CO2 from the power ject since 2012.
generation process, many energy firms have Barossa-Caldita LNG is expected to come
announced plans to use it in an effort to cut car- into operation in 2025 and supply Korea with
bon emissions. LNG for the next 20 years.

Sri Lanka dismisses legal

challenge to LNG-to-power project

SOUTH KOREA SRI Lanka’s Supreme Court on March 4 dis- the coast of Colombo. Under the terms of the
missed a legal challenge against a proposed agreement, the company would have gas supply
LNG-to-power project that is being developed rights to the Kerawalapitya power complex and
by New Fortress Energy (NFE). The company would initially provide Sri Lanka with an esti-
subsequently reiterated its commitment to the mated 1.2mn gallons (4.5mn litres) per day of
project in a March 8 statement. LNG. This would be used to supply both the cur-
“Having considered the merits of all the fun- rently operational 310-MW Yugadanavi power
damental rights petitions filed seeking to halt plant and the 350-MW Sobadanavi power plant,
NFE’s development of natural gas power solu- which is due to enter service in 2023.
tions in Sri Lanka, the court fully dismissed the Sri Lanka’s government has long been calling
petitions without further hearing,” NFE said. for gas to make up at least one-third of the coun-
“We are pleased that the court has dismissed try’s energy mix by 2030, up from zero today.
these petitions, as NFE can now proceed with However, despite the government also trying to
our plans to deliver cleaner fuels and more relia- revive interest in developing untapped offshore
ble, affordable power to Sri Lanka,” stated NFE’s gas deposits, the only way of adding gas to Sri
chairman and CEO, Wes Edens. Lanka’s energy mix currently is via LNG imports.
According to the statement, the company Various plans to import LNG have failed to gain
struck a definitive agreement with the govern- traction in recent years, with complex bureau-
ment of Sri Lanka in September 2021, paving cracy and political volatility acting as roadblocks
the way for NFE to build an LNG terminal off to new projects.™

Week 11 16•March•2022 www. NEWSBASE .com P13