Projects & Finance

Golar Power, a venture between Golar LNG and Stonepeak Infrastructure Partners, has reached financial close on the 1.5GW Porto de Sergipe LNG-to-power project in northeast Brazil. The project company CELSE will receive $1.340 billion of non-recourse financing that will be used to fund the remaining Capex of the $1.74 billion project. Start-up is scheduled for January 2020.

Making its debut in the Mainland China market, Siemens has secured an order to supply two H-class gas turbines and other components for installation at the CHD Guangzhou Zengcheng combined cooling, heat and power plant (CCHP) project. The customer is Huadian Fuxin Energy, part of the state-owned utility China Huadian Corp, and start of the CCHP's commercial operation is scheduled before the end of 2019.

Iquitos, a city in Peru’s jungle region, has a new source of baseload electricity supply following the commissioning of seven MAN 32/44R engines at a power plant, operated Telemenia and V-Power. Logistic for the project had been very demanding, due to remote location of the port city of Iquitos – a gateway to jungle lodges in the northern Amazon.

Regulators in New Jersey have been approached by Diamond Generating Corp., a Mitsubishi subsidiary, with a proposal to build a 1,200 MW combined-cycle gas power plant in New Jersey and submarine cable that would connect to a substation in Manhattan. Diamond Generating said it is prepared to spend US$ 1.5 billion on the project which would eliminate the need for a new gas pipeline under the Hudson River.

GE Power Services’ largest deal in Latin America, valued at more than $300 million, will see the US manufacturer improve maintenance inspections for gas turbine equipments in 11 Petrobras-owned power plants in Brazil. The fleet covered under the deal represents about 80% of Petrobras’ total installed capacity and generates 4.3 gigawatts (GW) of electricity.

DEWA and ACWA Power, in collaboration with Shanghai Electric, have agreed to undertake the 700 MW thermo-CSP project in Dubai, part of the largest thermo-solar power plant in the world. Once operational, the US$3,786 million project will deliver electricity at a levelised tariff of US$7.30 cents per kilowatt-hour (KWh) – cost-competitive with fossil fuel-generated electricity without subsidy. Debt financing for the project is nearly completed, with ICBC acting as lead arranger.

Petrobras has ordered six Siemens SGT-A35 aeroderivative offshore gas turbine packages have been ordered for floating production, storage, and offloading (FPSO) vessel in the pre-salt region of Brazil’s Santos Basin. Named FPSO Carioca MV30, the vessel will be installed by MODEC, with delivery of the Siemens equipment scheduled for delivery in late 2018.

The new Capacity Market system Italy will implement in 2018 is set to reward utilities for their capacity availability. As a consequence, Edison has just commissioned GE Power to enhance performance at its Candela combined-cycle power station (CCGT) in Puglia.

GE has signed a supply agreement with its channel partner GreenTech Energy Company (GTE) for 21 Jenbacher gas engines – ten J320 units, ten J420 units and one J316 unit – with a total capacity of 26 MW to be delivered before the end of this year.

Expanding its Advanced Gas Path (AGP) capabilities around the world, GE’s Power Services business over the past several years installed AGP technology on 435 units across four of its gas turbine fleets, generating $775 million a year in cost savings for electric utilities. Lastest order wins have come from Edison in Italy, the Iraqi Ministry of Electricity for the Najibiya power plant and ENKA for installations in Turkey.

National Grid is informing the public about the second phase of its London Power Tunnel project which follows in the footsteps of a seven year £1 billion scheme to rewire the UK Capital. Phase-2 includes building a tunnel between Hurst and Crayford. Works will start in summer 2019 and take about eight years to complete.

Duke Energy’s 1,640 MW Citrus County gas-fired combined cycle power plant is nearing completion, with the first 820 MW unit scheduled for commissioning and start-up in September. Construction on the $1.5 billion CCGT project started in March 2016 and the operator aims for the plant to enter service in November 2018.

Ecuador’s national oil company Petroecudor has contracted Siemens to supply an 8-megawatt SGT-300 turbine to replace a Ruston gas turbine that is providing onsite electricity at its Shushufindi refinery. Commissioning of the new unit is scheduled to take place before the end of 2018.

GE Energy Financial Services, part of GE Capital, has helped secure a $150 million debt facility to refinance and expand the Los Guindos open-cycle power plant to approximately 275-MW, nearly double its current capacity of 139-MW. Located in central Chile, GE owns 75% in the OCGT since 2016 when it partnered with The Ingelec Group, the plant’s local co-owner and operator.

The Vietnamese government has appointed EDF Group as the consortium leader in charge of construction of the 2,000MW Son My-1 combined-cycle gas power plant project. Located in southern Vietnam, the CCGT is due for commissioning in late 2023 or beginning of 2024.

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