General Electric (GE) is advancing negotiations to buy the French turbine manufacturer Alstom for $13 billion, in what would be the U.S. firm's biggest acquisition. The deal could be finalised already next week, it emerged, and would exclude Alstom's transport unit though the French company officially denied any knowledge of talks.
The Asian Development Bank (ADB) has approved a $400 million loan to support the government of Pakistan's reforms aimed at tackling the country's chronic energy shortage which has crippled industries and caused social unrest.
EC Karolin – the biggest combined heat and power plant western Poland – will be retrofitted by Alstom with new Flue Gas Desulphurisation (FGD) units for two steam boilers. The contracted works, including modernisation of an existing boiler, are worth €27.5m and due to start in 2015.
U.S. conglomerate Atlas Holding is considering re-opening the 104 MW Greenidge power plant near Dresden, Ohio, following its recent purchase from AES Corp.
U.S. power plant developer Apex has progressed plans to build the world’s third Compressed Air Energy Storage (CAES) plant in Matagorda County, Texas. The U.S. Environmental Protection Agency (EPA) issued the necessary permits earlier this month to start construction of the 317 MW Apex Matagorda Energy Center, but developers have not set a specific date yet.
Gas demand in the EU-28 dropped 26.8% last month, compared to March 2013, with year-to-date consumption down 20.1% amid an exceptionally mild winter and healthy storage levels, French investment bank Société Générale said on Wednesday.
Investments of at least $5 billion are needed to upgrade and stabilize Egypt's dilapidated power grid, according to government estimates, as the risk of blackouts increases as electricity demand peaks in the summer season.
Mounting pressure is placed on the U.S. Federal Energy Regulatory Commission (FERC) to enact reforms in East and Midwest power transmission areas to create stronger capacity markets to strengthen electric grid reliability. Industry has been pushing for regulatory changes ahead of the next base residual power auctions on May 12.
The prevalence of producing Combined Heat and Power (CHP) at steam turbines attached to coal-fired plants is forecast to drop amid a rise in the share of combined-cycle gas turbines with CHP from 40% in 2013 to 51% by 2020, according to a new GlobalData report.
The Kenyan government has started negotiations with Qatar to import LNG to fuel a proposed 800 MW power plant and connected LNG re-gasification terminal in the port city of Mombasa. The Dongo Kundu terminal will import 0.24 billion cubic meters (bcm) of natural gas per year and is estimated to cost at least $1 billion.
Construction for a natural gas combined-cycle power plant in Marshall County, West Virginia, with a nameplate capacity of 549 MW fuelled by local gas will start in mid-2015, the New York-based independent power plant (IPP) developer Moundsville Power announced.
The high cost of LNG imports to fuel power production in Japan is pushing electricity rates higher with the latest price hike adding ¥25 ($0.24) to bills in June. This will see electricity bills reaching an average ¥8,565 ($84), the highest amount since records began in 2009.
Nigeria needs about 10,000 kilometres of gas pipelines to transport fuel across the country to widespread power plants, GE Nigeria's president and CEO, Dr Lazarus Angbazo said. A lack of stable gas supply and a pipeline network of currently only 1,000 km are undermining continuous operation of much of the country's gas-fired power generation capacity.
U.S. power producer LS Power Equity Advisors has announced it will purchase six gas-fired, combined-cycle power plants in the southeast of the United States from Calpine Corp. The portfolio comes with a price tag of $1.57 billion and has a net capacity of 3,500 MW.