Project finance of new power plants in the UK hinges on the final structure of the government's proposed capacity mechanism. "We would hope that projects should be able to secure a debt-equity ratio in the region of 60/40, but the devil will be in the detail and we don't anticipate [regulatory] details being finalised until Q1 2014," George Grant, co-founder and director of Stag Energy told Gas to Power Journal in an interview.
Power and automation technology group ABB has won an order worth $21 million from Columbia's EPM, a multi-utility and telco focusing on power generation, to build a new gas-insulated switchgear transmission substation in Santander.
Bowing to regulatory pressure, Wall Street's bellwether trading house JP Morgan Chase has decided to exit physical commodities trading which includes ownership of power plants and metal warehouses.
Florida Power & Light Company (FPL), the state's largest utility and gas user, has selected Sabal Trail Transmission and Florida Southeast Connection to build two natural gas pipelines and an interconnection hub worth over $3.5 billion to help dent growing regional electricity demand.
An $18 million program to install a state-wide microgrid, powered by distributed gas-fired turbines, has been launched in the US coastal state of Connecticut to keep the lights on in public buildings during grid outages in severe weather. The scheme comes after hurricane Sandy last year caused 5 deaths in the state, and $68 billion in damages nationwide.
Alstom Transmission and Distribution's branch, Alstom T&D, in India has agreed to supply substations, shunt reactors, and circuit breakers worth €37 million (2,558 million rupees) to the Indian state-owned utility Power Grid Corp to ease the grid congestion caused in part by power supply from new-build thermal capacity.
Relocating the gas turbine and generator, or even the entire plant, to more profitable markets like Turkey could be a last resort for E.on to extract value from its mothballed power plant in Malzenice, Slovakia, says Thomas Kaestner, energy expert at Ernst & Young.
Siemens has won a contract to supply EPC Samsung C&T Malaysia with two H-Class gas turbines for the 1GW TNB Prai combined-cycle power plant (CCPP), build at a cost of RM2.49 billion ($0.78 billion) in the city Seberang Perai, Malaysia.
World energy consumption is forecast to soar 56 percent between 2010 and 2040, from 524 quadrillion British thermal units (Btu) to 820 quadrillion Btu. In its International Energy Outlook 2013 (IEO2013), the EIA highlighted a 90 percent surge of energy use in non-OECD countries, compared with a meagre 17 percent rise in OECD countries.
The Indonesian government is committed to spending $99 million on a 50MW gas-fired plant to power the new Teluk Lamong Multipurpose Terminal at the port of Tanjung Perak in the city of Surabaya. The EPC contractor PT Rekayasa Industri will realise the project on behalf of the state-owned port operator, PT Pelindo III.
Japan is on the verge of losing its status as the world's biggest LNG buyer, as imports of natural gas fell sharply in H1'2013 amid reduced demand from power producers on the eve of a restart of the country's nuclear reactors.