Available on XXXX Exchange
Invest now
Paris, 27.09.2024 MasterGrid, a leader in grid infrastructure solutions, and Planet2050, a company at the forefront of sustainability and carbon market strategies, are proud to announce a Strategic Partnership to accelerate climate action following the 2024 CIGRE event in Paris, the world’s leading global conference for power system expertise.
As the world increasingly relies on electrification to drive decarbonization, many environmental concerns related to grid infrastructure remain unaddressed. SF6, used as an insulation gas in transmission and distribution equipment, is a significant source of emissions. In some electrical grids, it is the largest contributor to Scope 1 emissions, primarily due to mishandling, leakage, and inadequate recovery at the end of equipment life.
The EU's recent adoption of the F-Gas Regulation is a step in the right direction, but more needs to be done on a global scale. Many countries lack proper regulations, financial incentives, or advanced technologies to address SF6 emissions. This is where incentives from carbon markets come in place.
While new SF6-free technologies are emerging for greenfield applications, the reality is that the technology is not always ready, the transition will take time and it will require costly investment.
Meanwhile, thousands of SF6-based high-voltage switchgears will remain in operations for the next 20, 30, sometimes 50 years and pose risks for the environment due to known SF6 emission issues.
Solutions are available today to address problems especially in the extensive installed base of SF6 switchgears: IoT monitoring sensors, leakage sealing, maintenance and repair, or prevention training.
“SF6 emissions, if left unchecked, could have a significant climate impact, with emissions from existing SF6 banks potentially reaching between 2 to 10 Gt CO2 by 2050” reported Gaetan Busson, Head of SF6 EcoSolutions at MasterGrid, referring to data from NDE Germany and Heat GmbH.
Through this partnership, MasterGrid will bring its expertise in grid infrastructure and operational excellence, while Planet2050 will provide its cutting-edge capabilities in carbon markets, digital Measurement, Reporting, and Verification (MRV), and carbon certificate issuance.
Together, we aim to reduce SF6 emissions faster by leveraging climate finance instruments such as CO2 credits from avoided fugitive emissions," said Lucas Zaehringer, CEO of Planet2050.
This partnership will not only support electrical grids in complying with emerging regulations, such as the EU’s 2024/573 F-Gas Regulation, but also provide the tools and incentives needed to mitigate SF6 emissions globally.
MasterGrid and Planet2050 are committed to advancing decarbonization efforts and ensuring that grid infrastructure becomes part of the solution to climate change. This partnership marks a significant step in scaling climate solutions for grid-related emissions and creating a pathway toward a more sustainable and resilient energy future.
For more information on this strategic partnership and upcoming developments, stay tuned for further updates from MasterGrid and Planet2050.
About MasterGrid:
MasterGrid (MG) is a leader in providing electrical market solutions, specializing in SF6 detection and leak reduction technologies for both conventional and gas-insulated substations. With a legacy of 100+ years working with electrical grids and a focus on environmental monitoring, MasterGrid has positioned itself at the forefront of SF6 management, acquiring expertise through its EcoSolution division and partnerships across the globe.
About Planet2050:
Planet2050 (P2050) is a climate-tech company dedicated to helping companies reach their Net Zero commitments and stakeholder expectations thanks to the financing and development of high-quality climate projects in Scope 3 and Beyond. By leveraging integrated advisory and data traceability solutions, Planet2050 aids organizations in monetizing their environmental impact through emission reduction certificates and carbon credits.
Gas-Insulated Switchgears (GIS) use sulfur hexafluoride (SF6) or alternative gases as an insulating medium to control, protect, and isolate high- and medium-voltage equipment. Known for their compact design, GIS is ideal for space-constrained environments. Each unit has multiple separate gas compartments housing various components, which increases the risk of leaks over time and poses environmental challenges.
