Aggreko registers record 2gw of live global gas power capacity

• Record follows milestone of exceeding 1GW of delivered flare gas power projects in 2020
• Increase follows success of industry leading scalable, flare gas to power model
• Innovative flexible power solutions include bitcoin mining stranded gas projects

London: Aggreko, the leading global provider of mobile, modular power, temperature control and energy services, today announces that it has exceeded a record of 2GW of live gas generation capacity. A key driver for achieving this milestone is increased demand for flare gas to power projects, as well as Aggreko’s innovative approach to monetising stranded gas assets.

With a global focus on flaring reduction spearheaded by initiatives such as the World Bank’s Global Gas Flaring Reduction Partnership (GGFR), Aggreko has emerged as a global leader in flare gas to power generation solutions. To date, the company has delivered more than 210 projects worldwide, including an offshore project in Indonesia that harnessed flare gas to generate 27 weeks of reliable power supply for an offshore microgrid. In the Middle East, Aggreko is currently delivering a project that’s repurposing 40 million standard cubic feet of APG per day, reducing the operator’s flaring by a third and saving 840 tonnes of carbon emissions daily.

Alongside the success of the company’s flare gas operations, Aggreko has driven growth by leveraging its expertise in modular gas to power solutions, engineering an innovative way to monetise stranded gas. Examples include three North American cryptocurrency mining projects, where Aggreko provided the miners with a reliable source of low-cost flare gas to power for their bitcoin mining operations. These projects avoided carbon emissions in a sector which has received global criticism for its energy demands and questions around sustainability. In one of these partnerships, enabled by BYO Energy with Wyoming Mining, Aggreko is converting 1 mmscf/day of stranded gas into 4MW of continuous low-cost electricity for the miners.

With the GGFR pushing for an end to routine flaring by 2030, Aggreko anticipates significant further growth and is investing more than £200m to increase the size of its gas generation fleet as part of its overall commitment to achieve Net Zero in its own operations. Aggreko aims to reduce the amount of diesel fuel used in customer solutions by 50% by transitioning them to gas, and continuing to repurpose waste gas into power. The company is also extending its service offering, including expanding to CNG, LNG and LPG virtual pipeline solutions, with several projects already supported by this ongoing investment.

Billy Morley, Global Head of Oil and Gas at Aggreko, said: “Flare gas serves no productive purpose yet accounts for around 400 million tons of all CO2 equivalent emissions – enough to power Sub-Saharan Africa. This wasted energy can be repurposed to supply electricity in countries that need it the most, and we are working with customers around the world to provide solutions to deliver such services to a range of projects and requirements. This forms an important part of Aggreko’s sustainability commitments by offering competitive cleaner technologies and fuels that guarantee reliability of supply as alternatives – for example, we are seeing gas displace diesel in more projects than ever before.

“Whether it’s through enabling collaboration with other industries such as cryptocurrency mining, utilising virtual pipelines to move the gas to other power demands or, participation in environmental programmes, Aggreko stands ready to design and deliver these solutions and expects continued growth as a result.”

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About Aggreko

Aggreko is a world-leading provider of mobile modular power, temperature control and energy services. Operating in a rapidly changing energy market, our priority is to support our customers through the energy transition by providing cost-effective and flexible answers to the simple or complex challenges our customers face.

Founded in 1962, Aggreko has grown from a small local business to a global energy pioneer, employing more than 6,000 people. Headquartered in Glasgow, we’ve remained true to our roots, and have operations in over 204 locations, ready to deliver energy solutions to every corner of the globe.

Aggreko creates bespoke solutions to provide all electricity, heating and cooling needs using the latest fuels and storage solutions. This is powered by our trademark passion, unrivalled international experience and local knowledge

We recognise our position as partners in the energy transition and are constantly evolving our products to provide better solutions no matter the sector. We’re committed to achieving Net Zero across our operations by 2030 and across all our services by 2050, embedding the future of energy into everything we do.

© Press Release 2021