Concerned about the progress of the green energy transition, the IEA has voiced concerns about the 7% decline in global investment in renewable energy last year. Although part of the drop-off was due to falling costs that made renewable sources like solar PV more affordable than ever, the IEA says “the investment decline still represents a warning.”
Seeking to accommodate U.S. President Donald Trump’s demands for greater LNG sales to Europe, the European Commission President Jean-Claude Junker has said the EU would build more LNG import terminals. However, this does not mean imports will increase as the JKM-TTF spread has stayed wide enough over the past year for US cargoes to get a higher netback going to Asian than Europe.
Macquarie Infrastructure Corp. (MIC) has entered negotiations with potential buyers of the 644-MW Bayonne Energy Center in New Jersey as it seeks to divest the asset before the end of this year. MIC only bought the CCGT three years ago, but now seeks to sell it for about $900 million to reduce debt.
Dispatchable power generation capacity is shifting from flexible gas gensets to wind and solar technologies paired with energy storage. Excellent solar resources in the U.S. state of Arizona make First Solar confident that its 65MW solar farm and a 50MW/135MWh battery storage facility will outcompete gas peaking plants in terms of supplying electricity into the evening peak.
Financing models of the U.S. shale oil and gas industry - often small wildcatter - has for long been characterised by negative free cash flow as expectations of rising production and cost improvements led to continuous overspending in the sector. Over the last few month, however, IEA analysts have notice a “notable improvement in financial condition,” though the overall health of the industry remains fragile.
Running the new efficient power stations on LNG helps Pakistan to save between $2 billion and $3 billion in fuel cost for power generation. With an efficiency rate of over 62%, the new Balloki, Haveli Bahadur Shah and Bhikki CCGTs can generate power at an average cost of Rs7-8 per unit, which is about half of the cost of electricity produced from furnace oil.
Pakistan has just added the second LNG-fuelled power plant to the grid: Commissioning of the 1,223 MW Balloki CCGT follows just weeks after the start-up of the Haveli Bahadur Shah (HBS) power plant which entered full commercial operations in May. During commissioning, the HBS and Balloki plant already added over 5.5 billion kilowatt hours of power to the grid.
California Independent System Operator (CAISO) has issued two new reliability must-run designations to support grid reliability in the face of imminent power plant retirements near Los Angeles. NRG California South had notified the ISO it will retire its Ellwood, Etiwanda and Ormond Beach generating stations by October 2018.
Faster economic growth in China means higher energy use given that the country is world’s top producer of energy-intensive good. Beijing’s policy goals seek to enact a greater focus on service industries, however, the EIA’s International Energy Outlook 2018 (IEO2018) finds that China’s energy use is only modestly affected by how quickly it transitions to a more personal consumption-based, service-oriented economy.
Total, one of seven largest oil companies in the world, has signed a deal with KKR-Energas to acquire two gas-fired combined cycle power plants (CCGT) in the North and East of France with a combined capacity of 825 MW. The two flexible CCGTs were primarily used for peakload power supply and benefitted from France’s new capacity market.
Enagás and the regional government of Aragon have agreed to collaborate on the projects for the use of renewable gases such as hydrogen, biogas and biomethane. The aim is to save energy and enhance efficient use of renewables, while fostering the coherent and effective development of energy infrastructure.
Germany, along with large parts of Europe, is firmly in the grip of a heat wave and average temperatures along the river Rhine are forecast to reach up to 38C next week, increasing the risk of power plant shutdowns due to cooling issues. Should river temperatures rise further, this will continue to reduce available cooling water use which already forced several utilities to reduce the output of their power stations.
MAN Energy Solutions in consortium with the Danish power-plant specialist Burmeister & Wain Scandinavian Contractor, has won a $ 100 million contract to build a 56 MW power plant in Bermuda. The customer, Bermuda Electric Light Company (BELCO), is the sole electricity supplier on the island. Construction and commissioning is slated to be completed within 18 months.
Energy Transfer Partners (ETP), developer of the $4.3-billion Rover Pipeline, has accused the Ohio Environmental Protection Agency of attempting to delay the project’s completion. By raising this claim, ETP is trying to fight back against a regulatory notice over low-level contamination.
Russia’s natural gas giant Gazprom, the largest supplier to the EU, is accelerating efforts to export gas to China. Construction of the ‘Power or Siberia’ pipeline to northern China via the Altai pass is now 90.5% complete. In pre-developing the huge Chayandinskoye field, Gazprom said it is “acting in strict compliance” with the start of Russian gas deliveries to China, due on December 20, 2019.