Connect with us

Published

on

Alan Graf | Cultura | Getty Images

Denmark’s Orsted said Thursday it would “reuse, recycle, or recover” all turbine blades in its worldwide portfolio of wind farms once they’re decommissioned.  

The world’s largest offshore wind farm developer said it had “a clear responsibility to help find solutions to the challenge of recycling blades.”

The issue of what to do with wind turbine blades when they’re no longer needed is a headache for the industry. This is because the composite materials blades are made from can be difficult to recycle, with Orsted noting that “most” blades, once decommissioned, were landfilled.

As governments around the world attempt to ramp up their renewable energy capacity, the number of wind turbines globally looks set to increase.

The European Commission, the EU’s executive arm, said that in the offshore sector alone it wants capacity to hit at least 60 gigawatts by 2030 and 300 GW by the middle of the century.

The U.K., which left the EU at the end of January 2020, wants its offshore wind capacity to reach 40 GW by 2030. The U.S. is also looking to significantly increase its offshore wind capacity this decade.

Given the above, the problem of what to do with turbine blades will become even more pressing going forward. For its part, Orsted explained it would “temporarily store” decommissioned blades if finding a solution to recycling them took “longer to solve than anticipated.”

A number of companies involved in the sector have attempted to find solutions to the issue in recent years. In January 2020, wind energy giant Vestas said it was aiming to produce “zero-waste” wind turbines by the year 2040.

Last December, GE Renewable Energy and Veolia North America signed a “multi-year agreement” to recycle blades removed from onshore wind turbines in the United States.

More recently, it was announced that a collaboration between academia and industry would focus on the recycling of glass fiber products, a move that could eventually help to reduce the waste produced by wind turbine blades.

Orsted, Vestas and LM Wind Power — which is part of GE Renewable Energy — are also part of the DecomBlades consortium, an initiative focused on blade recycling.

Continue Reading

Environment

Wheel-E Podcast: ’70 MPH e-bikes’, Vietnam bans gasoline bikes, more

Published

on

By

Wheel-E Podcast: '70 MPH e-bikes', Vietnam bans gasoline bikes, more

This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes “70 MPH e-bikes” prompting new law changes, recalled Amazon/Walmart e-bikes, Vietnam banning gasoline-powered motorcycles, and more.

The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:

Advertisement – scroll for more content

Apple Podcasts

Spotify

Overcast

Pocket Casts

Castro

RSS

We also have a Patreon if you want to help us to avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the Wheel-E podcast today:

Here’s the live stream for today’s episode starting at 8:00 a.m. ET (or the video after 9:00 a.m. ET):

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Exxon earnings beat estimates as production growth softens impact of lower oil prices

Published

on

By

Exxon earnings beat estimates as production growth softens impact of lower oil prices

Exxon earnings beat estimates as production growth softens impact of lower oil prices

Exxon Mobil reported second-quarter earnings on Friday that declined significantly compared to last year, though the company beat Wall Street estimates as production growth in the Permian Basin and Guyana softened the impact of lower oil prices.

Exxon’s net income fell 23% to $7.1 billion, or $1.64 per share, compared to $9.2 billion, or $2.14 per share, in the same period last year.

Here is what Exxon reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: $1.64 vs. $1.54 expected
  • Revenue: $81.5 billion vs. $80.77 billion expected

The oil major pumped 4.6 million barrels per day, the highest output for the second quarter since Exxon and Mobil merged more than 25 years ago. Production in the Permian hit a record 1.6 million bpd.

Exxon’s production business posted a profit of $5.4 billion, down 23% from about $7.1 billion in the same period last year on lower oil prices. Its refining business booked earnings of $1.37 billion globally, up 44% compared to $946 million in the year-ago period due to higher refining margins.

Exxon paid out $9.2 billion to shareholders, including more than $4 billion in dividends and $5 billion in share repurchases. The oil major said it’s on pace to purchase $20 billion of shares this year.

Exxon has slashed its costs by $1.4 billion so far this year and $13.5 billion since 2019. It is aiming to cut another $4.5 billion through the end of 2030.

This is a breaking news story. Please check back for updates.

Continue Reading

Environment

Chevron profit hit by low crude oil prices and loss from Hess acquisition

Published

on

By

Chevron profit hit by low crude oil prices and loss from Hess acquisition

Chevron profit hit by low crude oil prices and loss from Hess acquisition

Chevron on Friday reported second-quarter earnings that took a substantial hit due to low oil prices and a loss on its acquisition of Hess Corporation.

The oil major’s net income declined about 44% to $2.49 billion, or $1.45 per share, from $4.43 billion, or $2.43 per share, in the same period last year.

Chevron booked a $215 million loss on the fair value measurement of Hess shares. When adjusted for that charge and other one-time items, Chevron earned $1.77 per share to beat Wall Street estimates.

Here is what Chevron reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: $1.77 adjusted vs. $1.70 expected
  • Revenue: $44.82 billion vs. $43.82 billion expected

Chevron completed its acquisition of Hess on July 18, after prevailing against Exxon Mobil in a long-running dispute that threatened to blow up the $53 billion deal. An arbitration court rejected Exxon’s claim to a right of first refusal over lucrative Hess assets in Guyana, clearing the way for Chevron to complete the transaction after a long delay.

Chevron expects the deal to begin adding to earnings in the fourth quarter. It also hopes to reduce annual run-rate costs by $1 billion by the end of 2025.

Chevron pumped a record 3.4 million barrels per day worldwide for the quarter, a 3% increase over the same period last year. U.S. production jumped about 8% to 1.69 million bpd compared to the year-ago period, with production in the Permian Basin hitting 1 million bpd. The Hess acquisition will add assets in the Bakken formation and Gulf of Mexico in addition to Guyana.

Chevron’s production business posted a profit of $2.72 billion, down 38% from $4.47 billion in the same period last year due to lower oil prices. Its refining business booked earnings of $737 million, up 23% from $597 million last year on higher margins for product sales.

Chevron paid out $5.5 billion to shareholders in the quarter, including $2.6 billion in share buybacks and $2.9 billion in dividends.

Continue Reading

Trending