UK power plant developer Carlton Power has appointed the investment firm Macquarie Capital as debt and equity adviser for its proposed £1.2 billion Trafford Power combined cycle gas turbine (CCGT) power station. The 1.8 GW plant power project will bid into the upcoming first UK capacity auction in December.
Finance for low carbon power generation technology needs to be accelerated in order to prevent global temperature rises, according to the International Energy Agency (IEA). The organisation’s Energy Technology Perspectives 2014 (ETP 2014) publication calls for new financial instruments to be developed to help minimise risks for investors in new technology.
U.S. utility Ameren Missouri said it will need to add 1,200 MW of gas-fired power capacity by 2020 in order to meet more stringent emission rules set out by the Environmental Protection Agency (EPA) regulations. Ameren’s VP of environmental affairs, Mike Menne, claims the additions will cost about $2 billion and raise customers’ bills by 10% to 15%.
Recently approved energy reforms in Mexico are expected to boost investment in combined heat and power projects in the country, according to business consultancy Emerging Growth. Analysts at the firm claim that the reform measures will “reshape” the energy landscape and “reinvigorate investment” in cogeneration.
Though Barak Obama has been keen to use his presidential powers to curb the use of coal at home and abroad, his clean-energy aspirations were challenged at the U.S.-Africa Leaders Summit. "We in Africa, we should not be in the discussion of whether we should use coal or not, "Tanzania's power minister Sospeter Muhongo said, underlining coal's vital role for industrializing nations.
Keen to achieve higher gas penetration, China's State Council is targeting to reach a gas supply capacity of 400 to 420 Bcm by 2020. Last year's pricing reform has improved the economics of pipeline and LNG imports as it effectively links the city-gate price to oil-indexed contracts and is "likely to lead to increased supplies", while strict environmental policies will enforce more gas use for power generation, writes Michael Chen, OIES visiting research fellow.
Mexican president Enrique Peña Nieto signed a historic energy reform bill into law on Monday in a move that is expected to drive further investment in the country’s energy sector. When the majority of the new laws take effect on the 1st January 2105 it will be the first time that foreign energy firms can compete in the country's energy sector since 1938.