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Released April 06, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--While it is primarily known for transporting and storing liquid petroleum products, Buckeye Partners LP (Houston, Texas) said last week it plans to launch a diversified company, BAES Infrastructure, aimed at developing, constructing and operating projects that support the energy transition. The new company will inherit Buckeye's existing renewable assets, including renewable-energy company Swift Current Energy (Boston, Massachusetts), hydrogen-fuel supplier OneH2 (Longview, North Carolina), Bear Head Energy (Halifax, Canada)--which is building a major hydrogen and ammonia complex in Canada--as well as "advanced-stage solar development projects."
Buckeye Partners is a subsidiary of IFM Investors (Melbourne, Victoria).
"The launch of BAES Infrastructure represents another step in our energy transition strategy, reinforcing our commitment to investing in growth that aligns with our customers' current and evolving needs, while facilitating the decarbonization of the broader economy," said Todd Russo, the chief executive officer of Buckeye Partners, in a press release. "This new company will allow us to leverage existing and new relationships and focus on investment and development activity in the energy transition space without compromising our focus on safely and reliably operating our critical petroleum products infrastructure."
Two of BAES Infrastructure's assets are related to the production of green hydrogen and ammonia: OneH2 is developing a $10 million brownfield green hydrogen plant in Pontiac, Michigan, to use the substance as a renewable fuel. Buckeye announced in 2021 it had made an equity investment in the company. Construction kickoff is planned in June. Subscribers to Industrial Info's Chemical Processing Project Database can click here for a detailed project report.
But it's the company's other inherited green hydrogen and ammonia asset, Bear Head Energy in Nova Scotia, Canada, that accounts for Buckeye's highest-valued projects. The two-phase project includes a proposed US$2 billion grassroot plant that would utilize 2 gigawatts (GW) of electrolyzers to produce green hydrogen to be used as feedstock for a US$2 billion expansion, that at full buildout, would allow for 2 million tons per year of ammonia production. Buckeye acquired Bear Head Energy last year, although Bear Head continues to manage the project's development.
In February of this year, Bear Head submitted the project to the Nova Scotia government for an environmental assessment (EA), and the energy minister expects to make a decision by April 12. According to the government's public notice document regarding the project, "pending the necessary approvals to proceed," construction is scheduled to begin in 2024, with final commissioning and first ammonia production in late 2027.
Subscribers can see detailed project reports on Phase 1 and Phase 2.
BAES Infrastructure's renewable-electricity assets include Swift Current Energy, which Buckeye holds a majority stake in. Swift Current is developing projects across the U.S. and recently announced a major solar project--the largest in Illinois--is underway. For more information, see Industrial Info's April 4, 2023, article - Largest Solar Project in Illinois Ramps Up.
Industrial Info is tracking two solar projects in Texas owned by Buckeye that are expected to wrap up construction in May, with Black & Veatch Incorporated (Overland Park, Kansas) providing engineering, procurement and construction (EPC) services. As part of the 270-megawatt (MW) Project Parker, the $140 million Spanish Crown and $140 million Golinda solar plants each will have a solar-generation capacity of 135 MW by utilizing an estimated 380,000 photovoltaic (PV) panels from Mission Solar (San Antonio, Texas). Subscribers can see reports on the Spanish Crown and Golinda projects.
Last year, LyondellBasell Industries NV (NYSE:LYB) (Rotterdam, Netherlands) announced it signed a power purchase agreement (PPA) with Buckeye for 116 MW of solar power from the 150-MW BT Files Photovoltaic (PV) Solar facility in Itasca, Texas, outside of Dallas. The project is expected to wrap up by the end of April. Click here for the project report.
Federal legislation such as the Inflation Reduction Act and Infrastructure Investment and Jobs Act provide new funding for projects that support the U.S. energy transition, and as a result, more and more companies are jumping on the bandwagon. For more information, see Industrial Info's August 23, 2022, article - U.S. Inflation Act Could Be Just What Renewables Ordered, November 21, 2022, article - Federal Laws Will Drive Huge Capital Outlays by U.S. Power Industry, and March 15, 2023, article - Some See Natural Hydrogen as Ultimate Clean Fuel.
Subscribers can click here for all project reports referenced in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Buckeye Partners is a subsidiary of IFM Investors (Melbourne, Victoria).
"The launch of BAES Infrastructure represents another step in our energy transition strategy, reinforcing our commitment to investing in growth that aligns with our customers' current and evolving needs, while facilitating the decarbonization of the broader economy," said Todd Russo, the chief executive officer of Buckeye Partners, in a press release. "This new company will allow us to leverage existing and new relationships and focus on investment and development activity in the energy transition space without compromising our focus on safely and reliably operating our critical petroleum products infrastructure."
Two of BAES Infrastructure's assets are related to the production of green hydrogen and ammonia: OneH2 is developing a $10 million brownfield green hydrogen plant in Pontiac, Michigan, to use the substance as a renewable fuel. Buckeye announced in 2021 it had made an equity investment in the company. Construction kickoff is planned in June. Subscribers to Industrial Info's Chemical Processing Project Database can click here for a detailed project report.
But it's the company's other inherited green hydrogen and ammonia asset, Bear Head Energy in Nova Scotia, Canada, that accounts for Buckeye's highest-valued projects. The two-phase project includes a proposed US$2 billion grassroot plant that would utilize 2 gigawatts (GW) of electrolyzers to produce green hydrogen to be used as feedstock for a US$2 billion expansion, that at full buildout, would allow for 2 million tons per year of ammonia production. Buckeye acquired Bear Head Energy last year, although Bear Head continues to manage the project's development.
In February of this year, Bear Head submitted the project to the Nova Scotia government for an environmental assessment (EA), and the energy minister expects to make a decision by April 12. According to the government's public notice document regarding the project, "pending the necessary approvals to proceed," construction is scheduled to begin in 2024, with final commissioning and first ammonia production in late 2027.
Subscribers can see detailed project reports on Phase 1 and Phase 2.
BAES Infrastructure's renewable-electricity assets include Swift Current Energy, which Buckeye holds a majority stake in. Swift Current is developing projects across the U.S. and recently announced a major solar project--the largest in Illinois--is underway. For more information, see Industrial Info's April 4, 2023, article - Largest Solar Project in Illinois Ramps Up.
Industrial Info is tracking two solar projects in Texas owned by Buckeye that are expected to wrap up construction in May, with Black & Veatch Incorporated (Overland Park, Kansas) providing engineering, procurement and construction (EPC) services. As part of the 270-megawatt (MW) Project Parker, the $140 million Spanish Crown and $140 million Golinda solar plants each will have a solar-generation capacity of 135 MW by utilizing an estimated 380,000 photovoltaic (PV) panels from Mission Solar (San Antonio, Texas). Subscribers can see reports on the Spanish Crown and Golinda projects.
Last year, LyondellBasell Industries NV (NYSE:LYB) (Rotterdam, Netherlands) announced it signed a power purchase agreement (PPA) with Buckeye for 116 MW of solar power from the 150-MW BT Files Photovoltaic (PV) Solar facility in Itasca, Texas, outside of Dallas. The project is expected to wrap up by the end of April. Click here for the project report.
Federal legislation such as the Inflation Reduction Act and Infrastructure Investment and Jobs Act provide new funding for projects that support the U.S. energy transition, and as a result, more and more companies are jumping on the bandwagon. For more information, see Industrial Info's August 23, 2022, article - U.S. Inflation Act Could Be Just What Renewables Ordered, November 21, 2022, article - Federal Laws Will Drive Huge Capital Outlays by U.S. Power Industry, and March 15, 2023, article - Some See Natural Hydrogen as Ultimate Clean Fuel.
Subscribers can click here for all project reports referenced in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
