Engine manufacturer, Alstom, and power producer, Arabian Bemco Contracting Co. Ltd, have signed an agreement to create a new joint venture (JV) company called, Alstom Arabia Power Factory Ltd. The deal will see an initial investment of approximately €50 million to create a new manufacturing facility in Saudi Arabia manufacturing heat recovery steam generators (HRSGs).
Power producer, Calpine Corporation, is to purchase a 1,050 MW, combined-cycle power plant in Texas from MinnTex Power Holdings, for $625 million. The natural gas-fired plant is located in Guadalupe County, northeast of San Antonio, Texas and recently received approval from The Texas Commission on Environmental Quality for an additional 470MW, "peaking" power.
Israeli power company, IC Power, has been awarded a tender worth $1 billion to build a gas power plant in Peru. The new plant will be built in Mollendo, a town in southern Peru and generate 590 MW of output. Construction is expected to be complete by 2016.
The UK’s grid operator, National Grid, has reported a record level of power generated by wind-based renewables. Output from wind turbines rose above 6GW for the first time on Friday and is expected to rise further this week as strong winds hit the country, with power producers already halting 7.8GW of gas-fired output to compensate.
The market of gas-fired power in India is expected to expand even as gas prices are set to reach as high as $20/MMbtu, Wärtsilä's chief executive, Bjorn Rosengren, said ahead of the government's revision of natural gas pricing in 20 days' time.
As Japan turns to burning record amounts of thermal coal, the country's flat-lining LNG imports help keep prices capped despite an uptick in gas demand from China and Korea's robust offtake.
"It's a counterbalance," said Gavin Thompson, Wood Mackenzie's head analyst for Asia-Pacific gas and power. "The fact that we are seeing significantly stronger winter spot demand in China and strong demand in South Korea – both of those buyers are fairly welcoming of the fact that Japanese demand is relatively flat," he said, pointing at a16% seasonal demand growth in northern China this year.
Steam turbines operating in combined cycle power plants will soon be able to start-up and cool-down more flexibly following research by engine manufacturer Alstom. "We expect to see turbines starting more frequently and more quickly with less life consumption due to more accurate modelling of the fatigue cycle during turbine cool down," Gabriel Marinescu, a lead researcher at Alstom told Gas to Power Journal.
Contribution of gas-fired plants in the UK has fallen as a share of overall electricity generation, latest figures from the Department of Energy and Climate Change (DECC) show. The share of power output produced by gas-fired plants declined to 28.5% in the second quarter of 2013, down from 29.6% in the same period in 2012, as rising energy prices and a weak economy have depressed demand and caused more plant shut-downs.
In an oversupplied market German "power prices have limited upside for the next couple of years," Societe Generale analyst Paolo Coghe forecast, adding "To make matters worse, GDF Suez, Trianel and Steag will bring three brand new plants online before year end, adding over 2 GW to an already comfortable power system."
A shale gas boom in Europe could reduce import dependency and lower wholesale gas prices by 14%, delivering cost savings of €540 billion between 2020 and 2050, a new report from Poyry Management Consulting finds.
The European Union is falling back behind China, Canada and the United States in the development of carbon capture and storage (CCS) projects as a way to reduce the carbon footprint from fossil power plants, members of the EU parliament criticised.
Swiss power and automation provider, ABB Group, has won a contract to supply a gas-insulated switchgear (GIS) substation and plant automation systems for a new 600 megawatt (MW) power plant in Egypt. The gas-fired plant will be built by Italy's Ansaldo Energia, and is expected to be completed by mid-2014.