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Archive for July, 2011

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AES-VCM to invest $1.95bn for a coal-fired plant in Vietnam

Tuesday, July 19th, 2011

Vietnam-based AES-VCM Mong Duong Power will invest about $1.95bn for the construction of a coal-fired plant in Quang Ninh, Vietnam.

US AES owns 51% stake in AES-VCM Mong Duong Power, which will develop the plant on a build-operate-transfer basis

The plant with a capacity of 1.24GW Mong Duong 2 plant will receive a loan of $1.46bn from 12 banks led by the French CIC bank and German DZ bank.

Korea Eximbank and Korea Trade Insurance Corporation will provide commercial guarantees and political risk cover for the project, reports Reuters.

POSCO Power, a subsidiary of South Korea’s POSCO will hold a 30% interest while China Investment holds a 19% stake in the project.

Source: www.energy-business-review.com

Posted in industry information


Siemens begins construction work on 430 MW power plant in Germany

Tuesday, July 19th, 2011

Siemens Energy has started work on turnkey erection of the Knapsack II combined-cycle power plant at Hurth near Cologne, Germany.

The facility is being built in Hurth’s chemical industry park and will have an installed generating capacity of about 430 MW.

In September 2010, Siemens and Norwegian power supply company Statkraft signed a contract to build the power plant, which is scheduled to commence operation in 2013.

Siemens is delivering a Model SGT5-4000F gas turbine, an SST5-5000 steam turbine, and an SGen5-2000H electrical generator as well as the complete electrical equipment and SPPA-T3000 instrumentation and control system for the plant.

Source: www.energy-business-review.com

Posted in industry information


RWE, Gazprom sign MoU to jointly build power plants in Europe

Tuesday, July 19th, 2011

German utility RWE and Russian gas company Gazprom have signed a memorandum of understanding (MoU) on strategic partnership in power generation in Europe.

The companies are looking to form a joint venture which will consist of existing or newly built gas- and coal-fired power plants in the UK, Germany and the Benelux.

The MoU provides RWE with exclusive rights for negotiations with Gazprom on the implementation of energy projects in these countries for a period of three months.

Gazprom management committee chairman Alexey Miller said that the companies see good prospects for the construction of new modern gas-fired plants in Germany in light of the German government’s recent decisions to reduce its nuclear power programs.

RWE CEO Jurgen Grossmann said the MoU, when put into commercial reality, could secure safe and competitive natural gas supply to RWE.

Source: www.energy-business-review.com

Posted in industry information


UK Government Proposes Infrastructure Overhaul

Monday, July 18th, 2011

UK households and businesses must contribute to major investments to revamp the country’s energy infrastructure, the energy secretary Chris Huhne has said.

Unveiling a package of reforms, Huhne said that ageing power stations and an outdated grid will need £110bn to overhaul, even without renewable generation.

“Since privatisation in 1990, our electricity market has served us well, delivering reliable, affordable electricity. But in the years ahead, we face unprecedented challenges. The existing market was not designed to meet them,” Huhne said in a statement.

Around a quarter of existing power stations will close over the next decade, threatening the security of electricity supplies, according to Huhne, while demand for electricity could double over the next 40 years as the population increases.

The energy reforms, which will come into effect in 2013, include new long-term contracts for renewable energy generation, a minimum price for carbon emissions from fossil fuel plants, and contracts that encourage companies to help their customers become more energy-efficient.

Source: http://www.power-technology.com

Posted in industry information


PGI Energy JV to Develop 1,000 MW Power Plants in Nigeria

Monday, July 18th, 2011

PGI Energy and its joint venture partners J&L Instrumentation & Power and Knox J&L Energy Solutions will construct several 1,000 MW power plants in Ajaokuta, Nigeria.

PGI Energy will provide funds for the $700m scheme through US-based investment bank Pythagoras Group.

The projects have secured long-term power purchase contracts and will be built on an engineering, procurement and construction basis, the company said.

The companies will share profits on a 50:50 ratio.

Source: http://www.power-technology.com

Posted in industry information


World’s First Wave Power Plant Begins Operations

Monday, July 18th, 2011

Electric utility Ente Vasco de la Energia has inaugurated the Mutriku wave power plant, the world’s first in commercial operation.

The 300 kW wave power plant is located between Bilbao and San Sebastian in Spain.

Voith hydro has supplied 16 power units for the wave plant, which can power 250 homes, the company said.

The company said its oscillating water column technology can be deployed in both new and existing breakwater as well as in purpose-built structures for commercial utilisation.

Voith CEO Roland Muench said, “The rising global demand for green energy is proving to be a strong catalyst for the implementation of innovative forms of renewable energy. The Mutriku project shows our wave power technology is commercially viable and ready for wide deployment on the global markets.”

Source: http://www.power-technology.com

Posted in industry information