Germany’s federal and state governments have sealed a deal to make official the 40 billion Euros in state support for mining regions. The funding is dedicated to companies and regions worst affected by the landmark plan to exit coal-fired power generation by 2038 at the latest.
Siemens Energy has laid out its post-spin-off strategy and set a target for an adjusted EBITA margin of 6.5 to 8.5% for fiscal year 2023. In its first phase, the company will focus on increasing profitability and cash flow by implementing a leaner cost structure, optimized logistics and centralized purchasing.
Northern Powergrid has become the UK’s first distribution network operator to release a strategy paper on how it can contribute to the country’s ‘green recovery’. The TSO, serving 8 million customers in the North East and Yorkshire, submitted its 2023-28 business plan in line with Ofgem’s ED2 price control regulatory period.
Siemens Energy has received a 330 million Euro order from the Canadian clean energy developer Kineticor to provide two high-efficiency SGT6-8000H gas turbines and services for the 900 MW Cascade Power Project in Alberta. The combined-cycle gas power plant is due to start operations in 2023.
Japanese power utilities’ LNG demand has partially recovered this month, due to high temperatures, specifically in western Japan. However, the outlook for the autumn and winter season remains bearish as a coronavirus-related recession dampens energy demand from the industrial sector.
ENGIE Italia has contracted Wärtsilä to supply a combined heat and power (CHP) plant, based on 31SG gas-fuelled engines, for two new projects. The electric utility will use the CHPs to supply electricity, steam, and hot water to the Marcegaglia Group, a renowned steel processing company.
Fitch Ratings believes the recent gas-fired power tariff cut in China's Guangdong province came in response to the falling spot gas price. The government aims to increase the ratio of gas-fired power in the province’s energy mix, allowing utilities to take advantage of falling procurement costs.
South Korean equipment provider LS ELECTIC and Nokia have agreed to develop analytics-based platforms to evaluate power generation assets. Nokia’s SpaceTime asset lifecycle optimization platform – based on big data analytics and machine learning – allows LS ELECTRIC enhance its offerings for utility customers.
Utilities’ rising use of artificial intelligence (AI) accelerates Europe’s green energy transition. The greatest potential, according to Germany's energy agency (dena) lies in forecasting as well as optimising operations and inventories. dena CEO Andreas Kuhlmann said AI can “drive new business models, accelerate innovation and increase efficiency.”
Able Grid, developer of U.S. battery energy storage projects, is forging ahead with works on the Chisholm Grid battery energy storage system in Fort Worth, Texas. Chisholm Grid will initially have 100 MWac of rated capacity and is scheduled to begin commercial operations in mid-2021.
Brazil’s Companhia Energética Manauara (CEM) has asked the Finish manufacturer Wärtsilä to convert an oil-fired power plant to run fully on natural gas, while increasing its output from 85 MW to 92 MW. The contract is for the Manauara power plant in Brazil, and was signed in July.
Competitive Power Ventures (CPV), together with GE Capital, Osaka Gas, Axium and Harrison Street, have reached financial close on the Three Rivers Energy Center, a 1,250 MW combined-cycle gas power plant in Illinois. The project is based on $1.3 billion in private investment, including $875 million of senior credit facilities.