J-Power Archives - Energy Source & Distribution

J-Power teams with Australian offshore carbon capture firms

Nadia Howland — Wed, 07 Aug 2024 23:44:37 +0000

Japan’s J-Power has entered into a joint study agreement with Australian offshore carbon capture developers deepC Store and Azuli International for commercial-scale Australian sequestration opportunity for CO2 volumes from Japan and Australia as well as the surrounding region.

deepC Store and Azuli have been awarded two GHG acreages in waters off the coast of Australia. J-POWER intends to become a joint venture participant in the GHG Acreages, which have the potential to permanently store up to 1 billion tonnes of CO2.

J-Power executive officer Akira Yabumoto said, “We are excited to work with deepC Store and Azuli on CCS development.

“We expect that this development will contribute providing a valuable option to Japan and Australia as well as the surrounding region to reduce CO2.

“CCS will play a critical role in J-Power’s Blue Mission 2050, as well as global energy transitions. We will continue pursuing opportunities for CCS development and carbon reduction with CCS.”

Related article: Genex agrees to takeover bid by J-POWER

Carbon capture and storage (CCS) involves capturing, transporting and storing greenhouse gas emissions from fossil fuel power stations, energy intensive industries, and gas fields by injecting the captured greenhouse gases back into the ground.

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Genex agrees to takeover bid by J-POWER

Nadia Howland — Sun, 14 Apr 2024 23:34:51 +0000

Genex Power has entered into a binding takeover bid from its Japanese partner J-POWER.

J-POWER is a 50% joint development partner of Genex for its Kidston Stage 3 Wind and Bulli Creek Solar and Battery projects, and holds 7.72% of the Genex Shares on issue. J-POWER also extended a $35 million corporate loan facility to Genex in 2023.

Related article: Japan’s J-Power makes bid to acquire Genex

J-POWER has agreed to acquire all of the ordinary shares in Genex for AUD$0.275 in cash and will make a simultaneous off-market takeover offer for all of the Genex shares for AUD$0.270 in cash, conditional on the scheme not being approved by shareholders at the scheme meeting.

“Genex unanimously recommends the transaction to shareholders, in the absence of a superior proposal and subject to the conclusions of an independent expert,” a spokesperson for Genex said.

Genex has a portfolio of more than $1 billion of renewable energy generation and
storage projects across Australia. The company’s flagship Kidston Clean Energy Hub, located in north Queensland, will integrate large-scale solar generation with pumped storage hydro.

The Kidston Clean Energy Hub is comprised of the operating 50MW stage 1 Solar Project (KS1) and the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) with potential for further multi-stage wind and solar projects.

Related article: J-POWER and Genex collaborate on Kidston Wind Project

The 50MW Jemalong Solar Project (JSP) is located in NSW and provides geographical
diversification to Genex’s portfolio. JSP was energised in December 2020 and is now fully operational.

Genex’s first battery energy storage system, the 50MW/100MWh Bouldercombe Battery Project (BBP) located in Central Queensland achieved energisation in June 2023 and is now fully operational.

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Japan’s J-Power makes bid to acquire Genex

Nadia Howland — Sun, 03 Mar 2024 23:03:14 +0000

Genex has received a non-binding, indicative and conditional acquisition bid from Japanese partner J-POWER for 27.5c per share.

An initial bid of 24c per share was made but was deemed too low by an independent committee of the board of directors of Genex. J-POWER’s then submitted a revised bid of 27.5c per share.

Genex has now entered into a confidentiality and exclusivity deed with J-POWER and has provided access to a virtual data room for the purpose of facilitating due diligence.

The 50MW Jemalong Solar Project (JSP) is located in NSW and provides geographical
diversification to Genex’s portfolio. JSP was energised in December 2020 and is now fully operational.

Related article: J-POWER and Genex collaborate on Kidston Wind Project

Genex’s first battery energy storage system, the 50MW/100MWh Bouldercombe Battery Project (BBP) located in Central Queensland achieved energisation in June 2023 and is now fully operational.

The post Japan’s J-Power makes bid to acquire Genex appeared first on Energy Source & Distribution.

J-Power and Origin Energy join forces on green ammonia

Nadia Howland — Mon, 11 Oct 2021 21:13:59 +0000

Japanese power producer and wholesaler J-Power and Origin Energy have joined forces to develop a green ammonia business in Tasmania, aiming to ensure stable supplies of the fuel to support decarbonisation efforts.

According to Argus, J-Power signed an initial agreement to join Origin Energy in its efforts to build a 420,000t/y export-oriented green ammonia production plant at Bell Bay in northern Tasmania, eyeing exports of the fuel to its coal-fired power plants in Japan. J-Power aims to co-fire ammonia with coal to achieve carbon neutrality by 2050.

J-Power has not yet specified which power plants will co-fire ammonia or its ammonia purchase volumes. The initial agreement will expire by the end of 2023, but the deadline could be extended, Argus said.

“Japanese shipping firm Mitsui OSK Lines also agreed with Origin Energy in August to look into developing a supply chain to support exports of green ammonia from Australia to Japan. Japan’s state-controlled energy agency Jogmec, trading house Marubeni and utilities Hokuriku Electric Power and Kansai Electric Power agreed in July to cooperate with Australian independent Woodside Petroleum to study the development of a blue and green ammonia supply chain from Australia to Japan,” the report said.

Green ammonia is produced using hydrogen and renewable energy with no carbon emissions, while blue ammonia is produced in the same way as conventional ammonia but with CO2 by-product captured and stored.

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