Projects & Finance

Marubeni and Tokyo Gas have sealed an agreement for Phase-1 development of an industrial park Vietnam’s Quang Ninh Province that will include an LNG regas terminal and integrated power plant. Situated some 200km from Hanoi, the project will cost around 200 billion yen ($1.92 billion) and the LNG-fuelled power station will have a capacity of 1,500 MW.

The Finish technology group Wärtsilä has signed an optimised maintenance agreement for three power plants operated by Paras Energy, a privately-owned Nigerian utility. Driven by 34SG gas-fuelled engines, the three plants have a combined electricity output of 132 MW.

AD Power Plants of Northern Macedonia (AD ESM) has agreed to take a 25% stake in Alexandroupolis Electricity Production, the special purpose vehicle set up to finance, build, own and operate a power plant in northern Greece. The project, currently fully owned by DAMCO Energy, will have a capacity of 662 MW initially and is scheduled to start operation in 2023.

Saudi Arabia’s ACWA Power has secured $750 million in senior debt to develop the Sirdarya combined-cycle power plant in Uzbekistan. Built at a cost of $1.2 billion, the 1,500 MW Sirdarya CCGT is designed to meet 15% of the country’s electricity needs and will account for 8% installed capacity.

Indah Power Plant (PIPP) has secured financing of up to 2.7 billion Malaysian Ringgit (US$650m) to build  a 1,200 MW combined-cycle power plant on Pulau Island, Selangor. The funds will come from Bank Pembangunan Malaysia, Maybank Islamic and United Overseas Bank, with the CCGT scheduled for commissioning in early 2024.

General Electric has won a multimillion-dollar order to upgrade three 400-kiloVolt (kV) Gas-Insulated Substations (GIS) in Nepal. The project, co-funded by the Asian Development Bank (ADB), aims to add 1,000 MW of inherently intermittent wind and solar power capacity to the grid.

Vattenfall Wärme and Siemens Energy have agreed to demonstrate and trial a large high-temperature heat pump (8 MW) at Vattenfall’s cooling plant at Berlin Potsdamer Platz. Known as the Qwark³ project, it will generate green district heating using waste heat and electricity from renewables, and feed it into Berlin’s district heating network.

 Wärtsilä will carry out a conversion of a Taiwanese power plant from heavy fuel oil (HFO) to natural gas under an EPC contract with the plant owner Ta-Yuan Cogen. Works are scheduled to start in 2021 and the converted CHP is expected to be completed in early 2022.

Malaysia’s leading shipping line MISC Berhad has awarded Siemens Energy an EPC contract for eight topside modules that will generate electricity for gas processing and compression aboard an FPSO. The modules will be built across Asia and then shipped to South America, where they are due to start operating offshore Brazil in 2024.

MethanQuest, Rolls-Royce’ flagship R&D venture, has gathered 29 research and industry partners to look into novel ways for producing hydrogen and methane from renewables. Interim results relate to new electrolysis systems near to wind parks, and the use of green gas in car engines.

Shenzhen Energy has contracted Siemens Energy to supply two 460 MW F-class turbines for the Phase-2 expansion of the Fengda combined-cycle gas power plant. Located in Huizhou City, Guangdong Province, the CCGT is scheduled to go into full operation in 2023.

India’s first high-voltage direct current (HVDC) link has been commissioned by Siemens and Sumitomo Electric to counter the electricity deficit in India’s southern region and improve the grid stability. The 2,000 MW interconnector allows the TSO to optimise energy flows between Pugalur in the southern state Tamil Nadu and Trichur in Kerala on India’s south-western coast.

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News in Brief

CCUS market to reach nearly $3bn in 2025

Oct 25 – The global carbon capture, utilization, and storage (CCUS) market will grow from $1.30 billion in 2020 to $1.46 billion in 2021, according to ResearchAndMarket estimates. The rebound comes as companies return to normal operations and sales, after a pandemic-related slowdown. Analysts expect the market will keep growing at a rate of nearly 20% annually to reach $2.97 billion by 2025.

SDG&E accelerates drive towards Net Zero by 2045

Oct 20 – San Diego Gas & Electric Company (SDG&E) has set a new sustainability strategy, outlining new and accelerated goals to help meet its pledge to reach net zero greenhouse gas (GHG) emissions by 2045. SDG&E it now seeks to operate a 100% zero emissions vehicle fleet by 2035 – five years earlier than planned.

B&W develops biomass-to-hydrogen plant in Australia

Oct 19 – B&W's Renewable segment and Port Anthony Renewables Ltd have started to develop a biomass-to-hydrogen energy project in Victoria, Australia, based on B&W’s BrightLoop technology. When completed, the plant is expected to be part of the largest green hydrogen hub in south-eastern Australia.

LNG prices rise faster than oil

Oct 18 – Liquefied natural gas and pipeline supplies have experienced an even sharper increase in prices in 2021 than oil, driven by a combination of circumstances that included a strong recovery in demand in North Asia, southeast Asia and Europe, unseasonal weather and planned and unplanned capacity outages.

Wärtsilä shaft gensets to power two LNG carriers

Oct 14 – The Finish technology group Wärtsilä has been awarded a contract to supply four shaft generators to provide electricity take-off from the main engines of two LNG carriers. The ships are being built at the Hyundai Heavy Industries (HHI) shipyard in Korea on behalf of the Capital Gas Ship Management of Greece.

VoltH2 gets green light for large hydrogen plant

Oct 13 – Vision Hydrogen Corp has announced that its affiliate VoltHe has received building and environmental permits to realise its first large-scale hydrogen plant at the Dutch North Sea Port of Vlissingen. The 5 MW hydrogen plant is located near existing high voltage power and gas infrastructure as well as large wind power assets. Once operational, it will produce around 3,500 tons of green hydrogen per year and will be scalable to 100 MW or 14,000 tons.

Tesla overtakes German e-cars

Oct 12 – Sales of Tesla in Germany has overtaken that of leading German carmakers. In September, more electric Tesla Model 3s were registered in the country than leading domestic models, such as the BMW 3 Series, Audi A4 and Mercedes C-Class combined.

EnerMech spends £500k on crane training tech

Oct 11 – EnerMech has invested £500,000 in new crane simulator training systems at its Luanda (Angola), Doha (Qatar) and Great Yarmouth (UK) facilities. The British company recently formed a joint venture with 3t Energy Group to bring the KraneSIM-6000 equipment to both Qatar and Angola and offer in-country training across client organisations globally.  

Germany finances green hydrogen projects abroad

Oct 8 – The German government has agreed to support green hydrogen projects in other countries with up to €350 million by 2024, the economy ministry said when publishing a directive with relevant guidelines. Moreover, financial support is given to projects that produce and process green hydrogen for storage, transport and use in countries outside the EU through investment grants worth up to €15 million each.

UK e-car sales surge 186%

Oct 6 – Sales electric cars in the UK have surged 186% to a total of 108,000 in 2020 during the pandemic, up from just 38,000 in the previous year. Latest statistics show there were nearly 300,000 pure-electric cars on UK roads at the end of August 2021, and more than 600,000 plug-in models if including plug-in hybrids (PHEVs).

FogHorn deploys AI software at Chugoku Electric Power in Japan

Oct 4 – FogHorn, developer of Edge AI software, has deployed its Internet of Things (IoT) software at the Chugoku Electric Power hydroelectric power plant. The AI solutions will make the power gen process more efficient and enhances workplace safety. Chugoku Electric Power employs nearly 9,200 workers across 114 power units in the western part of Honshū, the largest island of Japan.

Rolls-Royce supplies MTU engines for ferry propulsion

Oct 1 – Rolls-Royce's new MT engines, automation system, and MTU Go! tool for remote service have future-proofed the high-speed catamaran Avemar Dos, run by the Spanish operator Balearia. Four MTU 20V1163 M84 units replaced the previous 1163 units, taking the vessel to a "new level of ecological soundness," the manufacturer says.

GES appoints former Puma Energy Chairman as NED

Sept 30 – Global Energy Storage (GES) has appointed the former Puma Energy Chairman, Graham Sharp, as an NED. Graham will support GES on its ‘new energies’ strategy for the energy transition, focusing on hydrogen fuels and hydrogen carriers space.

Aggreko reaches 2 GW of live power gen capacity

Sept 29 – Aggreko has today announced it has reached 2GW of live global gas power capacity and growth in flare gas to power and stranded gas projects. This new record follows a milestone of exceeding 1GW of delivered flare gas power projects in 2020.

Wärtislä renews O&M agreement with Lafarge Africa

Sept 28 – The Finish technology group Wärtsilä has renewed a long-term Operation & Maintenance (O&M) agreement with Lafarge Africa, a large producer of building materials in Nigeria. The agreement covers the 100 MW Lafarge Ewekoro power plant, which provides a dedicated supply of electricity to the company’s concrete and cement manufacturing processes.

Rolls-Royce supplies MTU engines to Sanlorenzo

Sept 27 – Rolls-Royce business unit Power Systems will become one of the leading engine suppliers for Sanlorenzo, delivering MTU 10V, 12V and 16V 2000 yacht engines with a compact IMO 3 solution. A framework contract from 2022 through 2024 has been signed at the Monaco Yacht Show.

Shell exits Permian Basin

Sept 24 – Royal Dutch Shell has sold all its upstream interested in US Permian Basin to ConocoPhillips for $9.5 billion in cash. Shell’s assets in the Permian include around 225,000 net acres with a current production of around 175,000 barrels per day equivalent.

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