July 30 - Samsung Electronics Co and S&C Electric Co have joined forces to develop an energy storage project that could save Britain up to £300 million annually once 2 GW of storage is installed by 2020.
The project comes at a cost of £28.5 million and will be capable of storing up to 10 MW-hours of electricity.
Old Dominion Electric Cooperative (ODEC) has contracted Mitsubishi Power Systems Americas supply two gas turbines and associated generators for its 1,000MW Wildcat Point power plant project.
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.