Investment in U.S. generating capacity is dominated by gas power units due to its cheap capacity costs. Though construction costs for solar PV more than halved to $1,848 and costs for onshore wind fell to $1,382, both lose out on gas-fired units which cost just $837 per capacity added.
President Xi Jinping has told the UN General Assembly that China, the world’s largest carbon emitter, will reach peak emissions before 2030 and aspires to become carbon-neutral by 2060. President Xi called on all countries to “stop only pursuing development rather than environment protection.”
Siemens Energy’s new Unified Power Flow Controller, called UPFC PLUS, helps grid operators manage the load flow in alternating-current grids. Reacting within milliseconds, the tool enhances network resilience in the face of rising volumes of fluctuating renewable energy supply.
US engineering giant GE has decided to exit the market for new-build coal power plants in a bid to transform the structure of the company. “We are focused on power generation businesses that have attractive economics and a growth trajectory,” said Russel Stokes, CEO of GE Power Portfolio.
Singapore-based Keppel Shipyard has been contracted to convert an LNG carrier to a floating storage and regasification unit (FSRU) for use at El Salvador’s first LNG-to-power project. The FRSU will be installed in the second half of 2021, for the power plant to start operating before year-end.
Alberta-based developer Kineticor Resource has selected BPC, a joint venture of Black & Veatch and PCL Industrial Management, to build a 900 MW combined-cycle power station near Edison. The Cascade Power Plant comes at a cost of $1.5 billion and is due operational in 2023.
Drax has handed Worley an early front-end engineering and design (pre-FEED) contract for the first two carbon capture units at its power plant in North Yorkshire. Each unit will capture about 4 million tonnes of CO2 a year, allowing Drax power station to become ‘carbon negative’ by 2030.
Evonik and Siemens Energy have commissioned a pilot plant in Marl, northern Ruhr region, which produces sustainable chemicals from carbon dioxide and hydrogen, powered by renewables. Part of the Rheticus research, the pilot plant is backed by 6.3 million Euros in state funding.
Gazprom Export’s electronic sales platform is offering new trade tools, enabling buyers to choose from several delivery points and allowing volumes to vary on a daily basis. The pricing of these new contracts can now be linked to different energy carriers and gas indexes.
A cold start to winter across Northeast Asia could boost demand and widen spreads between the Japan Korea Marker (JKM) and the Dutch TTF trading hub for Nov-20 and Dec-20 contracts. If JKM-TTF spreads widen to $0.71 per MMBtu, Asian buyers will rush to snap up US spot LNG cargoes.
Siemens Energy has been selected to supply components for a 150 MW simple-cycle power plant in Saidpur, northern Bangladesh. The peaking power plant is developed by China’s Dongfang Electric International Corp (DEC) on behalf of the Bangladesh Power Development Board (BPDB).
Enschede-based Lithium Werks has started to sell Nanophosphate cathode powder to lithium battery producers. Developed by MIT, the novel technology not only eliminates cobalt, but also heavy metal nickel. The material was first commericalised by A123 Systems and later acquired by Lithium Werks.