Poweo, an independent French power and gas company, today posted a net loss of €63.4 million in 2011, incurred primarily by losses in its power generation business. Revenue from power generation revenue dropped from €185 million in 2010 to €124 million last year due to unfavourable profit margins at its CCGT power plant at Pont-sur-Sambre (412 MW).
Austria’s Verbund is going ahead with works to start-up the proposed 412 MW Toul gas-to-power plant as planned in 2013, despite loss-making operations at the Poweo’s Pont-sur-Sambre combined cycle gas turbine plant (CCGT). “The Toul CCGT does not have a gas contract with Eni,” Verbund spokeswoman Ines Schurin told ‘Gas-to-Power Journal’, implying operations of the Toul plant are expected to be profitable.
Karachi Electric Supply Company (KESC), the sole vertically integrated utility in Pakistan, has failed to restart operations at its Bin Qasim Power Plant II due to a lack in gas supply for the plant. Operational start of the plant depends on Sui Southern Gas Company (SSGC) supplying an additional 130 million cubic feet per day (Mmcf/day) to the plant.
South Korea’s Doosan Heavy Industries & Construction is focusing on new business for its power plant section in growth markets such as India and the Middle East, shifting its focus away from its South Korean home market. “India has become the biggest growth market for us, followed by Vietnam and Indonesia,” Doosan spokesman Jeong Chol Seo told ‘Gas-to-Power Journal’.