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Various Countries Procurement News Notice - 50632


Procurement News Notice

PNN 50632
Work Detail Purchasing platform has supported over 1.4GW of power-to-x projects to date Pexapark has launched a price benchmarking platform to support the growth of the emerging green fuels market. The company’s Green Fuel Prices application will allow customers to access daily marginal-cost reference prices for renewable hydrogen and ammonia, based on the input costs of renewable energy power purchase agreements (PPAs) and the risk profile of producing green fuels using renewable power. Pexapark has provided reference prices for green fuels to key clients since the start of 2023, supporting over 1.4GW of power-to-x projects to date. The EU has set an ambitious target of 42% renewable hydrogen in industry by 2030, and 60% by 2035. This represents a 200-fold growth of the market, with 40GW of electrolysers producing 10Mt of renewable hydrogen by 2030. Despite ambitious targets and growing demand, the absence of well-established reference prices for green fuels has hampered the efforts of producers and investors to scale up, without secured buyers and revenue certainty, said Pexapark. Pexaparks expertise in pricing long-term power risk enables green fuel producers to assess both the price and risk associated with an oversized PPA, allowing them to strike the ideal balance between equipment utilisation and cost efficiency. This can help ensure that green fuel production remains both sustainable and financially prudent. Pexapark’s Green Fuel Prices also comply with the?Renewable Fuels of Non-Biological Origin (RFNBO)?requirements, outlined in the EU Delegated Act. “By establishing a comprehensive benchmark for green fuel prices across Europe, we hope to unlock pent up capital ready to flow into the sector, paving the way for the widespread implementation of large-scale green hydrogen projects,” said Pexapark chief executive Michael Waldner.
Country Various Countries , Southern Asia
Industry Energy & Power
Entry Date 11 Oct 2023
Source https://renews.biz/88715/pexapark-launches-green-fuels-pricing-benchmark/

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