Finnish power plant and ship engine maker Wärtsilä has posted a 10 percent rise in 2012 annual profits to €515 billion, up from €469 million in the previous year. Major order wins for power plants in Brazil helped to boost earnings, group chief executive Björn Rosengren said.
Jan 25 - Duke Energy Renewables, part of Duke Energy's Commercial Businesses announced the completion of North America's largest battery storage project at its Notrees Windpower Project in west Texas.
The 36 MW energy storage and power management system completed testing and commenced operations in December.
GE and Toshiba Corp have signed a Memorandum of Understanding (MoU) to form a global strategic alliance with a view to jointly developing select combined-cycle power generation projects around the world.
Global power systems company Rolls Royce has completed the installation of the first MT30 gas turbine (36 MW) at the Royal Navy's new aircraft carrier HMS Queen Elizabeth, at Babcock's Rosyth shipyard in Scotland. At 36 megawatts or around 50,000 horsepower, the MT30, is "the world's most powerful marine gas turbine," Rolls Royce said on Friday.
Demand from Chinese energy companies drives the expansion of the global stream condenser market for thermal power plants to US$3.3 billion by 2020, GlobalData analysts forecast.
The South Korean government is supporting plans to build an additional six gas-fired power plants by the end of 2017, expanding the role of natural gas to dent the country's rising energy demand amid nuclear safety concerns.
Norwegian state-owned utility Statkraft aims to start power production at the Knapsack II combined cycle power plant (430 MW) by this summer. "Operations of Knapsack II - a modern CCPP with a highly state of the art efficiency - will benefit from synergy effects with the already existing plant Knapsack I plant," Torsten Amelung, Managing Director and Senior Vice President Trading, Origination & Business Development, Statkraft Markets GmbH.
Siemens has posted an overall 3% decline in new orders in the first fiscal quarter of 2013 amid weakening industrial demand for products from its 'automation & drive' sector. Revenue from its 'energy' segment continues to grow.
In the face of persistently high oil-indexed gas prices in Asia, the Institute for Energy Economics in Japan (IEEJ) calls for demand-side response and urges operators to improve the efficiency of gas-fired power plants.
2013 could be the year in which the share of total European supply priced under oil-indexed formulas falls to less than 50%. "We believe this could be a tipping point," says SocGen analyst Thierry Bros.
Despite the quest of the Chinese government to fast-track developing domestic shale gas reserves to underpin new gas-fired power plant projects, analysts stay sceptical.
"We remain cautious about the potential of shale gas in China," says Gavin Thompson, Principal Consultant, Asia Pacific Gas & Power at Wood Mackenzie. "The proven reserves in China are incredibly low, most of the terrain is very rough and challenging and the companies involved are inexperienced in terms of technological expertise in extracting gas," he told Gas to Power Journal by phone from Beijing today.
Malaysian state-controlled Tenaga Nasional Bhd (TNB) has sealed three agreements covering the development of a RM2.47 billion (US$810 million) combined cycle gas-turbine power plant (1,017 MW) in Seberang Prai, Penang.
Shell targets a growing engine oils segment with its new sour-gas compatible lubricating oil. "There could be a 10% sales growth in the stationary gas engine oils segment this year," Richard Holdsworth, Global Brand Manager for Shell Power Lubricants told Gas to Power Journal.
The UK Energy Bill in its current form is "unlikely to realise this potential" of Combined Heat and Power Generation, says Graham Meeks, director of the British Combined Heat & Power Association (CHPA). He called on policy makers to extend the small scale Feed-in Tariff capacity threshold in addition to the proposed Contracts for Difference (CfD).
Siemens Energy Service has signed a multi-year extension of a Long-Term Service Program (LTP) contract for Phu My 3 gas-fried combined-cycle power plant (740 MW).
The plant is Vietnam's first large-scale build-operate-transfer (BOT) financed power plant and is located in Ba Ria, Vung Tau Province. Since starting operations in 2004, it contributes reliable base load electricity supply to the Vietnam's power grid.