Australia's ERM Power confirmed it has received development approval to build and operate a 500MW gas-fired power plant at Braemar, around 240 kilometres west of Brisbane. "The next stage in the development of the Braemar 4 project is finalising fuel supply and electricity take-off agreements, which will allow us to make a final investment decision on this development," Philip Baker, managing director and CEO at ERM Power said.
In North-West Europe, investments in new gas-fired power plant projects will be in the money post 2018 at the earliest, Thomas Birr, VP corporate development & strategy at RWE Group forecast. "In Turkey and Eastern Europe, where power demand is rising, things are looking better," he said at the Gas-to-Power Europe Forum in Berlin.
If the spark spread stays below 10 Euro/MWh at times of peak electricity demand, building new gas-fired plants in Germany does not make economic sense, Torsten Amelung, senior vice president Trading and Origination at Statkraft Markets said today. "The only way out is ramping down capacity simply by shutting down power stations, until peak electricity prices are sufficiently high to sustain operations of the remaining gas-fired plants," he told Gas-to-Power Journal at the sidelines of a conference in Berlin.
Markets in Asia, the Middle East and North America are the "centres of growth" for new projects of gas-fired power plants , Brigitte Urban, VP global marketing, energy solutions at Siemens Energy forecasts. In reaction to the surge in gas-to-power demand in Saudi Arabia, Siemens has started construction of a new gas manufacturing plant in the Eastern Province of Saudi Arabia, she confirmed in Berlin today.
Denmark's Dong Energy has set out the vision of shifting its power generation portfolio to a 85% share in green energies by 2020, including gas-fired plants, by reducing its share of coal-fired plants to 15%. "Throughout the transition period, when coal will leave Dong's power generation portfolio, gas-fired capacity is crucial as it delivers the flexibility required by modern and sustainable energy systems," Anders Eldrup, CEO of Dong Energy said in Berlin today.
Gujarat State Energy Generation (GSEG), a Special Purpose Vehicle (SPV) formed by Gujarat State Petroleum Corporation, has confirmed the imminent start-up of a 360 MW gas-fired unit at the Hazira power plant. "The gas-based power plant at Hazira is ready for commissioning and could start generating electricity any day now", GSEG said.
Lithuanian utility Lietuvos Energija confirmed it will commence operations of a 455 MW combined cycle gas turbine (CCGT) power plant this autumn with a view of increasing do-mestic electricity supply. Lithuania has suffered from a net deficit in power supplies since the shut-down of the Ignalina nuclear reactor in 2009.
Myanmar's government has abandoned plans to build a 4,000 MW coal-fired power plant in Dawai and is supporting gas-to-power projects instead to meet electricity demand in the country's special economic zone. "We will have a 500 MW gas turbine instead ... we will be able to get enough gas by about 2015," Myanmar's union minister U Khin Maung Soe said today.
Qatar's budget for 2011 and 2012 is "expansionary", with government spending on utilities forecast to double the $10bn spent over last decade. A special emphasis will be placed on infrastructure spending, including power generation capacity, Belton Financial forecasts with reference to the double digit growth rate of Qatar's electricity consumption.
Korea Western Power Co. (KOWEPO) has selected GE technology for the first integrated gasification combined-cycle (IGCC) power plant to be built in Taean, South Korea. The Taean IGCC project will be the first commercial gasification combined-cycle plant to be developed under South Korea's Renewable Energy Portfolio Standard (RPS).
E.ON and Brazil's MPX Energia have entered an agreement to create a 50/50 joint venture with a view to developing power generation and related supply and trading activities in Brazil. As part of the deal, E.ON will get a 10% share of Brazil's MPX Energia by investing R$ 850 million (€350 million) in MPX forthcoming move to raise R$ 1,000,000,063.00 (€ 423 million) through a capital increase.
Israel's Dalia Energy confirmed today it entered a $5 billion gas supply agreement with Delek Drilling and its partners to purchase natural gas produced at Israel's Tamar gas field over a period of 17 years. The gas supplied under the deal will be solely used for power generation, a Dalia Energy representative told 'Gas-to-Power Journal'.