S&P Global Warns $68 BN Of U.S. Coal & Gas Investments May Be Stranded In Transition

Recurrent Energy inks 15-yr resource adequacy contract w/PG&E for 150 MW/600 MWh of battery storage starting summer 2022; The California Energy Commission warns state may be 5 GW short of capacity next summer; Liquid metal battery company Ambri gets add'l $144 mn investment, eyes battery plant in India; Rivian may spend up to $5 bn on factory near Fort Worth, TX to build 200,000 vehicles/year; Rolls-Royce investing $110 million over the next decade in battery systems for flights over 100 miles, and including VTOL aircraft; Dominion to file $1.5 bn proposal in Virginia for as much as 1,100 MW of solar and 100 MW of battery storage; S&P Global Market Intelligence foresees U.S. stranded gas and coal investments of up to $68 billion in clean energy transition.

1) Recurrent Energy signs a 15-year Resource Adequacy (capacity) contract w/PG&E for 150 MW/600MWh of energy storage, starting in summer of 2022.

2) California Energy Commission highlights potential 5 GW shortfall of capacity next summer if the heat, drought, & fires persist. PUC is responding by calling for more energy storage, DR, and flexible EV charging.

3) Liquid metal battery company Ambri receives $144 million investment infusion to help expand grid-scale storage business. Ambri also considering a battery plant in India.

4) Bloomberg News says Rivian may invest up to $5 bn in a factory near Fort Worth, TX with annual capacity at 200,000 vehicles.

5) Rolls-Royce will invest $110 million in coming decade in battery systems powering flights over 100 miles. Systems will support electric vertical takeoff and landing planes, and commuter fixed-wing aircraft with up to 19 seats.

6) Dominion Energy filing for $1.5 bn investments in 1,100 MW of solar and 100 MW of battery storage.

7) S&P Global Market Intelligence report warns of up to $68 billion in stranded U.S. coal and natural gas investments in transition to clean energy economy. S&P foresees about $34 billion of stranded investments in new gas-fired base load gen, and a similar amount in pollution controls to extend lives of coal plants. Given last week's IPCC report, it may be prudent to bet on even a higher number.