No financing for new power generation projects under non-tolling agreements will be forthcoming until there is certainty about the outcome of capacity auctions, energy infrastructure financiers from RBS and Lloyds Bank said at the Gas to Power UK conference in London today.
Alstom has secured a contract worth approximately €170 million in Saudi Arabia to supply steam turbine generators for the 2,650-MW Shuqaiq power plant, after having been selected by the project's lead contractor Hyundai Heavy Industries (HHI).
While both Portugal and Spain are weighted down under a sizeable electricity tariff deficit due to excess renewables capacity, that Portugal hopes to pay off by 2020 while Spain has no definite plan, Portugal has a better chance of ever climbing out of debt than Spain, found ratings agency Fitch Energy in its report Electric Shock: Iberian Tariff Deficit Comparison.
Timing of UK's first capacity auction next year for delivery in 2018 is "not perfect", as it risks a gap in power supply in the face of tightening reserve margins starting from 2016, no new capacity by then and a lack in demand response, says Stephen Woodhouse, director at Pöyry Management Consulting.
Chinese involvement in Brazil gas sector is set to grow, spurred by opportunities in upstream, power generation and transmission as well as knowledge transfer. Over 70% of China's direct investment in Brazil, or $18.2 billion from 2005 to 2012, was spent in the energy sector, and IEA analysts expect this share to grow despite current legal obstacles.
The role of regasified LNG has surged in Japan as its sole operating reactor is offline for maintenance, leaving the country reliant on gas-fired power generation, along with oil and coal.
US turbine manufacturer Capstone has won an order to supply one C800 and one C600 microturbine for a combined heat and power (CHP) installation at industrial plant in San Luis Potosi, Mexico. The microturbines will supply onsite heat and power, while steam from the power plant will generate hot water used during the manufacturing process.
Marginalised by a renewables boom, the utilisation of Spain's combined cycle gas turbine (CCGT) power plants has plunged from rates consistently over 50% to an average of just 14% over the twelve months to August 2013.
The drive for low-carbon power generation in the UK through the new Contract for Difference (CfD) scheme is hampered by a Capacity Market that seeks lowest cost capacity with no consideration of carbon emissions or efficiency, says Tim Rothary, head of policy at the British CHP Association.
Eager to curb China's notorious air pollution, the State Council has announced it will ban the construction of new coal-fired power plants in three key industrial regions surrounding Beijing, Shanghai and Guangdong. In an action plan, the Chinese cabinet aims to slash the share of coal in the country's energy mix from currently 70 percent to below 65 percent by 2017.
Rather than supporting new gas-fired power generation capacity, Britain's capacity auctions in 2014 will help the Big 6 energy companies get mothballed assets back into the market, a senior London-based banking source told Gas to Power Journal.
Siemens Energy has dedicated and handed over California's second Flex-Plant to power the gas-fired El Segundo Energy Center, operated by NRG Energy in Lodi. Together with the first unit, the plant can ramp up to 300MW in less than ten minutes, allowing the operator to backup intermittent renewable power supply.