Projects & Finance

Siemens has finalised the first phase of the Egypt Megaproject it was awarded in June 2015, having already brought online some 4.8 GW of power generation capacity.

US utility American Electric Power has completed the sale of four power plants to Ligthstone Generation, a joint venture of Blackstone and an affiliate of ArcLight Capital Partners for $2.1 billion.

Iran's Mapna Group and Negin Mokran Development Company (NMDC) signed a memorandum of understanding for construction of two CHP units.

The MoU envisages the construction of two MAP2A gas units with a total capacity of 340 MW in addition to two heat recovery boilers and ancillary equipment.

France's Engie has been awarded the contract and achieved financial closing for the Fadhili independent power project (IPP) in Saudi Arabia.

A new CCGT 1,100 MW power plant to be constructed near New York has secured the needed $1,584 billion financing for the project.

Solvay, Ansaldo Energia and Marubeni have formed a joint venture to invest in an energy efficiency project at Solvay's facility in Rosignano, Italy.

The three partners will finance and operate a new 180 MW gas turbine and a re-powered plant which has a total capacity of 350 MW and total steam production capacity of 410 t/h, Solvay said in a statement.

Italy's Eni and the Nigerian National Petroleum Corporation (NNPC) have signed a memorandum of understanding that envisages, among other things, that Eni will progress plans to double generation capacity at the Okpai Independent Power Plant “through the fast track development of its Phase II making it one of the largest combined cycle power plants in Africa” Eni said.

Singapore's Sembcorp has signed a build-operate-transfer (BOT) agreement with the Ministry of Electricity and Energy of Myanmar (MOEE) for its 225 MW Myingyan gas-fired power plant currently under construction in Mandalay.

FirstEnergy has signed an agreement for the sale of four gas-fired power plants in Pennsylvania and its share of a Virginia hydroelectric power station to LS Power Equity Partners for $925 million.

General Electric has secured more than $1.4 billion in orders from Iraq’s Ministry of Electricity to set up power plants totalling over 2 GW as well as provide technology upgrades and maintenance services.

In detail, GE is to set up the Samawa and Dhi Qar Power Plants, which will have a combined capacity of 1.5 GW. In the first phase of the project, GE will install four 9E gas turbines in simple cycle at each site by 2018. The second phase will entail the combined cycle conversion of the 9E units, GE said.

The European Bank for Reconstruction and Development (EBRD) is launching a study aimed at assessing the potential of developing a green financial system in Kazakhstan “in a new step to support Kazakhstan’s path towards a greener economy.” 

Iran’s state power company MAPNA and Indonesia’s state electricity company Perusahaan Listrik Negara (PLN) signed a memorandum of understanding aimed at collaborating in the energy sector.

US power plant developer Clean Energy Future is to construct a new 940 MW gas-fired power plant in Lordsdown, Ohio.

The new facility, to be located within Lordstown Industrial Park, is to be built in addition to the 940 MW Lordstown Energy Center power plant, currently under construction and expected to start operations in June 2018.

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has adopted a new country strategy for Georgia, which aims among other things to further support renewable energy, resource efficiency and climate change adaptation in the country “to improve competitiveness and resilience of the economy” EBRD said.

Enel's subsidiary Enel Brasil has been officially confirmed by the Brazilian national development bank (BNDES) as winner of the tender for the acquisition of 94.8% shares in Celg Distribuição, an energy distribution company that operates in the Brazilian state of Goiás.