Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Abengoa requested a 6 week extension to the bid deadline for package 1 at Skaapvlei which is 80MW/320MWh but it's not clear when this request was made.
It was definitely before 5th May though.
So it looks likely that Abengoa will bid for this.
Given BMN's relationship with Abengoa in the microgrid project, it's hard to believe that BMN won't be involved in this tender.
320 MWh is about 1,400 tonnes of vanadium.
Closing dates for bids for all 3 packages of the Eskom tender have now been updated as of yesterday.
Package 1 - 02.06.21.
Package 2 - 09.06.21.
Package 3 - 15.06.21.
So the first one is less than 3 weeks away.
https://tenderbulletin.eskom.co.za/
LionelGreen - you haven't missed anything.
It's a bit of wishful thinking on my part in that I've assumed that VRFBs will capture 50% of the tenders. I wanted to put a number on it, but whether it's 50% or 10%, it doesn't make much difference to the overall demand figure over the next few years.
Utility scale (40 MWh+) planned VRFB projects (4.5 tonnes of V per MWh)
1,000 MWh------- China - Jiangsu TianWan nuclear station (4,500 tonnes)
1,000 MWh------- China - Jiangsu offshore wind integration (4,500 tonnes)
---800 MWh------ China - Shijiazhuang (3,600 tonnes)
---500 MWh------ China - Hubei Zaoyang Ph 2 (VRB Energy) (2,250 tonnes)
---500 MWh------ China - Hubei Zaoyang (VRB Energy & Pingfan) (2,250 t)
---500 MWh------ Australia - VRB Energy (2,250 tonnes)
---400 MWh------ China - Dalian (Rongke/UET) stage 2 (1,800 tonnes)
---400 MWh------ China - Yancheng (Shanghai Electric Group) (1,800 tonnes)
---400 MWh------ China - Wuhan (1,800 tonnes)
---400 MWh------ China - Hubei (Pueng/Pingfan/Gaoxin project (1,800 tonnes)
---320 MWh------ Eskom BESS phase 2 (50%) (1,440 tonnes max)
---300 MWh------ Australia - Pangea, Port Augusta (CellCube) (1,350 tonnes)
---200 MWh------ China - VRB Energy project TBA Q1 2021 (900 tonnes)
---180 MWh------Bushveld Minerals self generation project (810 tonnes)
---166 MWh------ Eskom BESS phase 1 package 2 (50%) (747 tonnes max)
---160 MWh------ Eskom BESS phase 1 package 1 (50%) (720 tonnes max)
-----82 MWh------ Eskom BESS phase 1 package 3 (50%) (369 tonnes max)
-----60 MWh------ China - Hongyanhe, Dalian (Rongke) (270 tonnes)
-----51 MWh------Japan - Abira Town Hokkaido (Sumitomo Elec) (230 tonnes)
-----40 MWh------ China - Tuoshan, Dalian (Rongke) (180 tonnes)
-----40 MWh------ China - Lejia, Dalian (Rongke) (180 tonnes)
-------?--------------China - VRB Energy / Hanloon Energy power station
One off total of 33,746 tonnes of vanadium required (over next 1-3 years ?).
Plus all the smaller Invinity/Enerox type projects.
Global vanadium production in 2019 - 111,225 tonnes
BBN - thanks for your great analysis.
Here's another piece for your jigsaw puzzle. In the IES issued TR-1 on April 1st BMN went below the 3% threshold and reported having 2,229,561 shares left. A few days later a trade was printed for this exact amount. I don't currently have access to the price of this trade so perhaps someone else could post it.
Note on page 12.
"18 of 34 provinces in China has required that all new solar and wind
generation projects need to install energy storage system"
And we know the Chinese government has mandated VRFBs as the preferred technology.
Lemur - things have been moving along here.
During the first half of 2020 over $300,000 was drawn down from the $1m facility agreement with the Development Bank of Southern Africa for use in delivering the key milestones of the power project. The next definite financial update will be in the full year report in June which will indicate how much has happened in H2 2020.
I suspect that the full $1m has been drawn down at the current time given the previous rate of spending.
More vanadium required.
https://www.youtube.com/watch?v=JU3GPRZV-JY&ab_channel=StandardEnergy
And once again we get a load of posters who obviously have no understanding of technical analysis having a dig at someone who does. Instead of making ignorant comments about a subject you know nothing about, it might be best if you didn't bother posting and cluttering up this board.
It would be interesting to see how many here do understand TA by voting up this post.
Updated project list - the 40 MWh Wafangdian Zhenhai Wind Farm (Rongke) project has been completed so now removed from the list. We should see a number of these projects completed this year which will require a significant amount of vanadium taken out of the supply through the rest of 2021.
Utility scale (40 MWh+) planned VRFB projects (4.5 tonnes of V per MWh)
1,000 MWh------- China - Jiangsu TianWan nuclear station (4,500 tonnes)
1,000 MWh------- China - Jiangsu offshore wind integration (4,500 tonnes)
---800 MWh------ China - Shijiazhuang (3,600 tonnes)
---500 MWh------ China - Hubei Zaoyang Ph 2 (VRB Energy) (2,250 tonnes)
---500 MWh------ China - Hubei Zaoyang (VRB Energy & Pingfan) (2,250 t)
---500 MWh------ Australia - VRB Energy (2,250 tonnes)
---400 MWh------ China - Dalian (Rongke/UET) stage 2 (1,800 tonnes)
---400 MWh------ China - Yancheng (Shanghai Electric Group) (1,800 tonnes)
---400 MWh------ China - Wuhan (1,800 tonnes)
---400 MWh------ China - Hubei (Pueng/Pingfan/Gaoxin project (1,800 tonnes)
---320 MWh------ Eskom BESS phase 2 (50%) (1,440 tonnes max)
---300 MWh------ Australia - Pangea, Port Augusta (CellCube) (1,350 tonnes)
---200 MWh------ China - VRB Energy project TBA Q1 2021 (900 tonnes)
---180 MWh------Bushveld Minerals self generation project (810 tonnes)
---166 MWh------ Eskom BESS phase 1 package 2 (50%) (747 tonnes max)
---160 MWh------ Eskom BESS phase 1 package 1 (50%) (720 tonnes max)
-----82 MWh------ Eskom BESS phase 1 package 3 (50%) (369 tonnes max)
-----60 MWh------ China - Hongyanhe, Dalian (Rongke) (270 tonnes)
-----51 MWh------Japan - Abira Town Hokkaido (Sumitomo Elec) (230 tonnes)
-----40 MWh------ China - Tuoshan, Dalian (Rongke) (180 tonnes)
-----40 MWh------ China - Lejia, Dalian (Rongke) (180 tonnes)
-------?--------------China - VRB Energy / Hanloon Energy power station
One off total of 33,746 tonnes of vanadium required (over next 1-3 years ?)
Global vanadium production in 2019 - 111,225 tonnes
It looks as though the Saudi project will be using reclaimed vanadium in their VRFB's.
https://riwaq.com.sa/project/rare-metals-recovery-project/
So it shouldn't have any effect on the supply/demand balance.
This project is going to take at least 13,000 tonnes of vanadium out of the market every year when completed later in 2021.
"Project Status
The project had advanced with the completion of all the necessary governmental and financial requirements.
The project is currently under execution."
https://riwaq.com.sa/project/vanadium-redox-flow-battery/
https://tinyurl.com/yrt6svh9
CellCube moving in on the Austrian EV charging infrastructure market.
"The Austrian Ministry of Economics regulates e-mobility NEU. According to media reports, it should be possible in the future to install operational PV systems and charging stations without a permit. The risk of potential overload at the connection point when charging the e-mobility fleet, CellCube counteracts this, by taking the green energy from wind, water and sun can be stored in the long term."
https://www.cellcube.com/
With the sale of IES shares, it's worth revisiting this.
"2021 Capital Expenditure
ยง Bushveld Energy's 2021 Capital Expenditure is budgeted to be ZAR152 million (circa US $ 9.5million ). The majority of this budget will be covered by partial sales of existing Bushveld Energy assets, with most of the planned sales for 2021 already completed with the partial sale of the Company's holding in Invinity. The capital expenditure will be used on the following projects and initiatives :
- Bushveld's share of BELCO procurement and construction costs;
- Scaling the electrolyte rental product, including the rental contract with Pivot Power, in the UK through the VERL and the rental contract for the Vametco Mini-grid;
- Development of energy self-generation and storage solutions for Bushveld Minerals' operating facilities through Bushveld Energy's deployment business, including Bushveld's share in the equity portion of financing for the Vametco mini-grid project, which is structured as an Independent Power Producer ("IPP"); and
- Supporting and funding the growth of Enerox, together with the other shareholders of EHL, providing the business with growth working capital to capitalise on the rapidly growing global energy storage market.
Another big 500 MWh VRFB project added, planned by VRB Energy in Australia.
Utility scale (40 MWh+) planned VRFB projects (4.5 tonnes of V per MWh)
1,000 MWh------- China - Jiangsu TianWan nuclear station (4,500 tonnes)
1,000 MWh------- China - Jiangsu offshore wind integration (4,500 tonnes)
---800 MWh------ China - Shijiazhuang (3,600 tonnes)
---500 MWh------ China - Hubei Zaoyang Ph 2 (VRB Energy) (2,250 tonnes)
---500 MWh------ China - Hubei Zaoyang (VRB Energy & Pingfan) (2,250 t)
---500 MWh------ Australia - VRB Energy (2,250 tonnes)
---400 MWh------ China - Dalian (Rongke/UET) stage 2 (1,800 tonnes)
---400 MWh------ China - Yancheng (Shanghai Electric Group) (1,800 tonnes)
---400 MWh------ China - Wuhan (1,800 tonnes)
---400 MWh------ China - Hubei (Pueng/Pingfan/Gaoxin project (1,800 tonnes)
---320 MWh------ Eskom BESS phase 2 (50%) (1,440 tonnes max)
---300 MWh------ Australia - Pangea, Port Augusta (CellCube) (1,350 tonnes)
---200 MWh------ China - VRB Energy project TBA Q1 2021 (900 tonnes)
---180 MWh------Bushveld Minerals self generation project (810 tonnes)
---166 MWh------ Eskom BESS phase 1 package 2 (50%) (747 tonnes max)
---160 MWh------ Eskom BESS phase 1 package 1 (50%) (720 tonnes max)
-----82 MWh------ Eskom BESS phase 1 package 3 (50%) (369 tonnes max)
-----60 MWh------ China - Hongyanhe, Dalian (Rongke) (270 tonnes)
-----51 MWh------Japan - Abira Town Hokkaido (Sumitomo Elec) (230 tonnes)
-----40 MWh------ China - Tuoshan, Dalian (Rongke) (180 tonnes)
-----40 MWh------ China - Lejia, Dalian (Rongke) (180 tonnes)
-----40 MWh------ China - Wafangdian Zhenhai W/farm (Rongke) (180 tonnes)
-------?--------------China - VRB Energy / Hanloon Energy power station
One off total of 33,926 tonnes of vanadium required (over next 1-3 years ?)
Global vanadium production in 2019 - 111,225 tonnes