The German government prepares to launch green ‘twin bonds’ with a volume of eleven billion Euros in a bid to attract investors to sustainable finance and raise funds for emissions reduction projects. From September, investors can swap government bonds with the new green bonds.
Rolls-Royce Power Systems has formed a joint venture with Shanghai Cooltech Power Co. to serve the fast-growing Chinese market. Cooltech Power Systems will produce gensets based on MTU Series 1600, 2000 and 4000 engines for use in hospitals, airports, mining and data centres.
Iraq's electricity ministry has awarded GE contracts worth over $1.2 billion to enhance the country’s energy infrastructure. Some $500 million will be spent on upgrading power plants with a combined capacity of 6,000 MW, while $727 million serve to reinforce interconnectors with Jordan.
High costs of renewable electricity in Germany prevent the realisation of green hydrogen projects, says Nils Aldag, CCO of the Dresden-based startup Sunfire. In Norway, one of Sunfire’s electrolysis plant pays less than a quarter of German prices for using renewable energy as the basis of hydrogen production.
Mitsubishi Hitachi Power Systems (MHPS) has won an order to deliver three M701 JAC gas turbine generators for use in a new 2,400 MW combined-cycle power plant in Fujairah. Once operational in 2023, the F3 Fujairah CCGT will be the largest of its kind in the United Arab Emirates (UAE).
Two Floating Production Storage and Offloading (FPSO) ships, deployed at the Búzios and Mero oil fields offshore Brazil, will be powered by WEG gas turbines. The manufacturer said it was selected to supply eight gas turbine generators and over 60 medium voltage motors with 13,000 kW.
Rolls-Royce Power System is preparing to start manufacturing MTU EnergyPacks in the Siemens-Technopark in Ruhstorf, Bavaria, from early 2021. The tenancy agreement with Siemens has just been signed, allowing Rolls-Royce to boost production in Germany where it recently bought a majority stake in the Berlin-based energy storage specialist Qinous.
Siemens Energy and China Power will provide electrolysers for a hydrogen fuelling station in Yanqing District, one of three sites of the Beijing 2022 Winter Olympics. The facility, based on Siemens’ PEM (Proton Exchange Membrane) electrolyzer Silyzer200, is due for delivery in May 2021.
Myanmar’s Thanlyin LNG-to-Power venture is now seen importing LNG near full capacity, with the super-chilled fuel supplied by Petronet of Malaysia. The 350 MW power unit, developed by V-Power and CNTIC, has been built within seven months though commissioning was delayed over fuel supply issues.
Siemens Energy has been selected to supply 20 centrifugal compressors for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project. With injection capacity of 1,500 million standard cubic feet per day (mmscf/d), the storage will enable Aramco to manage its surplus gas volumes effectively.
The number of battery storage systems in the United States has more than doubled from 49 to 125 within just three years, pushing up available capacity for storing electricity from 351 MW to over 869 MW. Analysts expect growth to continue once the U.S. comes out of the Covid-19-related recession.
Royal Dutch Shell today posted a significant asset impairment of 16.8 million post-tax. Net losses amount to $18.1 billion, mainly from write-down on assets such as Queensland Curtis LNG and the Prelude FLNG hull, compared with a profit of $2.99 billion, the oil major said in an update to its Q2-2020 outlook.