Siemens Energy today blamed headwinds at Gamesa Renewable Energy, the company’s wind unit, for the 36.8% drop in third quarter earnings to €5.9 billion as well as lower profit expectations for fiscal 2021. Management now anticipates an adjusted EBITA margin of 2-3%, down from previously 3-5%.
Capital expenditure into oil & gas ventures has surged 30.4% in Asia as the region is staging a fast rebound from the coronavirus crisis. Higher commodity prices unlock greater flexibility in spending, Fitch Rating said, but warned an uneven uptake in vaccinations will leave the recovery in fuel demand tepid in some places.
Summit Oil and Shipping Co, the largest private fuel importer to Bangladesh, envisages contracting 1 mtpa of LNG for up to 20 years from Commonwealth’s 8.4 mtpa export facility under development in Cameron, Louisiana. Summit Group operates 3 GW gas-fired powergen capacity on the Indian subcontinent.
Marubeni, together with Iwantani and Deloitte Tohmatsu, studies the feasibility of setting up a hydrogen supply chain in the Kobe/Kansai region. Use of low-cost imported hydrogen for power generation and transport is essential if Japan wants to achieve its aim of a carbon-free society by 2030.
Uniper has thanked Ansaldo Energia when laying the foundation for the 300 MW Irsching 6 balancing plant in Bavaria. The open-cycle power plant, driven by an AE94.3A gas turbine, is being built on a turnkey basis and due completed and commissioned by September 2022.
One of the first project-financed interconnectors – the 1.4 GW NeuConnect – will be built between the Isle of Grain and Wilhelmshaven by 2023, or early 2024. Meridiam, Allianz and Kansai Electric Power put nearly £1.4 billion in upfront and will recoup their investment from future revenues.
Prices European Electricity Exchange (EEX) have tripled to over €90/MWh since the end of Covid-related lockdowns, as the economic rebound pushed up prices for coal natural gas and carbon emissions. China’s hunger for hard coal in turn drove up the price to €15/MWh in Europe, while gas prices at the TTF hub surpassed €36/MWh.
Mitsubishi Heavy Industries (MHI) will absorb the business operations and employees of Mitsubishi Power by October 1, 2021. Design, manufacturing, sale, installation and engineering of thermal power generation systems will be transferred to MHI while the management of the two companies will be unified to become more efficient and dynamic.
Johnson Matthey, part of the European GAIA consortium, has helped develop a hydrogen fuel cell with a power density of 1.8 W/cm2 @ 0.6V. That’s a 20% rise compared with current technology. Working alongside BMW, Freudenberg, 3M and three others, Johnson Mattey supplied critical components within the fuel cell stack – membrane electrode assemblies.
MAN Energy Solutions and ANDRITZ Hydro have agreed to develop hydrogen from hydropower, starting with a pilot project in Europe that will produce 650 tons of hydrogen from 4 MW electrolysis output before year-end. In future export-orientated projects, the electrolysis output will be raised to 100 MW.
Wärtsilä will supply dual-fuel engines to extend and modernise a captive power plant at Nigeria’s largest food and agro allied company, Flour Mills Nigeria. The Lagos-based food processing plant needs reliable electricity supply 24/7 and the new engines are scheduled to start full operations in early 2022.
GE’s H-class gas turbine has reached a milestone of accumulating more than 1,000,000 commercial operating hours. The heavy duty turbine was ordered by 50 customers to date and generated over 26 GW electricity.