Highland Group Holdings (HGHL) has agreed with Symbion Energy to co-invest $100 million towards the $370 million for a 106 MW project of generating electricity from methane at Lake Kivu in Rwanda. Paul Hinks, Symbion CEO promised “the work will begin in earnest in November 2017 and this funding means we can fast-track at least 22 MW within 18 months."
Rumuji, a mini-LNG facility in River State, Nigeria, is being developed to monetize the country’s substantial stranded gas reserves. Set to be built with $500 million worth of private funds, gathered by Greenville Ltd., the project is underpinned by a gas supply agreement for the delivery of 74 mmscf of gas through NNPC, Total and the Gas Aggregation Company of Nigeria (GACN).
Sept 22 – The floating power plant market is expected to grow from an estimated $889.6 million in 2017 to $1,440.1 million by 2022, at a cumulated annual growth rate of 10.11%, from 2017 to 2022. Driving factors, according to MarketsandMarkets, are increasing demand for power, coupled with the lack of land-based power generation infrastructure.
Norway-based Jacobsen Elektro, an international provider of turnkey power plants, has contracted Wärtsilä of Finland to provide the generating equipment for a new power plant in Indonesia. The 48 MW will be operated by PT PLN, the Indonesian government-owned utility.
Seeking to complement fossil power plants, South Australia has invited bids from investors in energy storage and bioenergy to share a $150 million fund. The tender is part of the government's wider $550 million energy plan that will see the world’s largest battery being built, and additional flexible gas power capacity. Applications for the $150 million fund close on September 28.
Nigeria’s Azura-Edo IPP, a 450 MW open-cycle power plant, is on track to be completed on time. However, investors are concerned about reaping a return: Ecobank warned that “an apparent inability to collect money from Discoms [power distribution companies],” and reluctance of some end-customers to pay electricity, risks to distort project finance.
Aluminium Bahrain (Alba), one of the world’s largest aluminum producers, has raised financing for a 1,792 MW combined-cycle gas turbine power plant in Bahrain – supported by GE Energy Financial Services. SERV, a Swiss Export Credit Agency (ECA), agreed to back $310.4 million and €314.3 million loans with reinsurance from BpiFrance and Italy’s SACE.
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.
Finish technology group Wärtsilä has been contracted by two Iranian energy firms, Baran Niroo Beshel and Tamin Niroo Saam, to provide engineering and equipment deliveries for two baseload power plants. The gensets are expected to be delivered during the third quarter of 2017, the manufacturer said, stressing that once operational, the plants will be Iran’s “first decentralised power plants of its kind.”
June 4 – Orascom Construction has secured a $100 million contract to build a power plant with a projected capacity of 650 MW in Walideya, Egypt. The scope of Orascom’s contract includes the full civil works package for the project. The contractor stated that the project’s proximity to an existing power station in Assuit is expected to “facilitate efficient mobilisation on the site.”