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Archive for the category “Abu Dhabi”

OCI Placing its Bets on the Methanol Economy

[source] BioMCN plant in Delfzijl, the Netherlands

OCI N.V. (Euronext: OCI) today announces a strategic alliance with two leading global investors, ADQ and Alpha Dhabi Holding, positioning the OCI Methanol Group to pursue future growth initiatives. A 15% stake of the OCI Methanol group will be placed for a total consideration of $375 million. As part of the alliance, OCI Methanol Group will be incorporated as an ADGM company in Abu Dhabi.

The strategic platform will focus on clean methanol as a fuel for the future with hydrogen as the primary feedstock. OCI Methanol Group has been a pioneer in developing clean methanol, supplying clean methanol to blue chip customers in various industries including transportation. Methanol is a key enabler of the hydrogen economy and one of the most logical hydrogen fuels. Methanol will be key to decarbonizing the marine industry, and the strategic alliance enables OCI Methanol to drive and accelerate the transition to a hydrogen economy.

OCI Methanol Group benefits from several strategic advantages as the only producer with facilities and extensive distribution and storage capabilities in the United States and Europe, which are located near major inland demand centers or on major global shipping lanes next to key bunkering hubs.

[oci.nl] – OCI N.V. Enters into Strategic Alliance with ADQ and Alpha Dhabi Holding through Placement of 15% of Methanol Group

OCI N.V. (NYSE Euronext: OCI) today announced it has reached agreement to acquire BioMCN, a methanol producer and pioneer in bio-methanol production based in The Netherlands, for EUR 15 million.

BioMCN is one of Europe’s largest methanol producers and owns two methanol plants, of which one is operational (production capacity of 440 ktpa) and one mothballed (430 ktpa). The plant site is located at the Chemical Park Delfzijl, The Netherlands, is connected to the national natural gas grid and has easy logistical access to major European end markets via road, rail, barge and sea freight.

The acquisition creates a foothold for OCI in the European methanol market. Methanol consumption in Western Europe is currently more than 7 million tons per year, of which approximately 30% is used in transportation fuel applications. Europe currently imports more than 5 million tons of methanol and this deficit is expected to continue to increase for the foreseeable future.

[oci.nl] – OCI N.V. Has Reached Agreement to Acquire Methanol Producer in The Netherlands (2015)

[deepresource] – Our methanol posts

More Solar Price Erosion – Abu Dhabi 2 GW, 1.24 Eurocent/kWh

[source]

EDF-France and Jinko-China (panels) won the bid for a new 2 GW solar power plant in Abu Dhabi, to be operational in Q2-2022, for a record low price: 1.24 euro cent/kWh.

The price of “raw electricity” from the desert is no longer relevant as a share of end user price of a stored kWh on world markets. Solar electricity from the desert is almost “too cheap to meter”. Once the international community has a good storage mechanism in place, most likely hydrogen or some derivative, nothing will stand in the way of a total victory of renewable energy in the 21st century.

Sunlit places like Arabia, Africa and Australia will have the perfect solar conditions to become the world’s most prominent hydrogen suppliers. Ironically, especially Arabian countries could play a key role and use their current oil wealth to create the conditions for the continuation of their prosperity into the future and contradict Sheikh’s Rashid bin Saeed Al Maktoum famous line:

My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel

[pv-magazine.com] – Abu Dhabi’s 1.5 GW tender draws world record low solar bid of $0.0135/kWh
[wattisduurzaam.nl] – Goedkoopste zonnestroom nu in Abu Dhabi: 1,24 eurocent/kWh
[reneweconomy.com.au] – Stunning record low bid of US 1.35 cents/kWh wins Abu Dhabi solar auction

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