Deployment of large-scale battery storage is rapidly increasing across the United States, but capital costs of energy storage systems vary greatly, dependent on the technology uses. Energy-oriented batteries systems, used for peakload shaving, are designed for longer durations and consequently have higher average costs per kilowatt and lower costs per kilowatthour. This type is mostly used in the California Independent System Operator (CAISO) area.
Improving power system flexibility is vital for cost-effective management of variability and uncertainty in both supply and demand, the International Energy Agency (IEA) finds. Hence the agency calls for a proactive response from regulators and policy makers to help manage today’s fundamental a transformation of energy markets.
May 30 – Mitsubishi Heavy Industries (MHI) has discontinued talks to form a business partnership with JTEKT Corp after both parties terminated a basic partnership, agreed in December 2017 together with Mitsubishi Heavy Industries Machine Tool (MAT) that included capital participation in JTEKT. All these plans have now been abandoned.
National Grid is informing the public about the second phase of its London Power Tunnel project which follows in the footsteps of a seven year £1 billion scheme to rewire the UK Capital. Phase-2 includes building a tunnel between Hurst and Crayford. Works will start in summer 2019 and take about eight years to complete.
GE Energy Financial Services, part of GE Capital, has helped secure a $150 million debt facility to refinance and expand the Los Guindos open-cycle power plant to approximately 275-MW, nearly double its current capacity of 139-MW. Located in central Chile, GE owns 75% in the OCGT since 2016 when it partnered with The Ingelec Group, the plant’s local co-owner and operator.
Pure World Energy, Capstone’s distributor for the United Kingdom, has secured an order for a C200S integrated combined heat and power (iCHP) microturbine to be installed at a commercial building in England. The deal is one of Capstone's first order-wins under its new “Sell-to-Win” bundled solutions program and includes an integrated roof mounted heat recovery module as well as a prepaid 5-year factory protection plan.
Diversifying electricity sources, Oman Power and Water Procurement Company (OPWP) has floated a tender in search for a consultant to carry out a feasibility study for the country’s first waste-to-energy project. Capacity of the plant and capital expenditure will be specified later.
Cost competition between fossil fuels and renewable energy sources is intensifying and will be won by the latter by 2020. Technology advances by that time will enable solar PV and onshore wind to generate electricity below $30/MWh, according to projections by the International Renewable Energy Agency (IRENA).
Plans for another FRSU with 17 mtpa regas capacity and an onshore LNG terminal show the government of Bangladesh “is clearly in support to boost its LNG supply,” Wood Mackenzie comments. Already, private capital is being attracted to this sector with Summit Power, Reliance Power and Petronet looking to invest in these terminals.
Uncertainty over the future operation of Britain’s energy market, rising financing costs and post-Brexit challenges to include interconnectors in the UK’s capacity market are expected to “add a risk premium into all forward capacity auctions,” Cornwall Energy says. Higher clearing prices at auction could add over £360 million to consumers’ energy bills.