Government-run energy firm Vietnam Oil & Gas Group (PVN) expects to sign an agreement with Exxon Mobil in 2015 to develop the first phase of a multi-billion natural gas field and power project in the country. The intial phase of the project is expected to cost $10 billion and will generate 2,500 MW.
State-owned Saudi Electricity Co (SEC) claims it will bring 4,750 MW of gas-fired power generating capacity online in Riyadh by 2017. The additions will come from three plants -- the 1,150 MW PP10 plant and the PP13 and PP14 plants that each generate 1,800 MW.
U.S. energy firm Dynegy Power plans to purchase 5,053 MW of gas-fired power generation capacity from Duke Energy and Energy Capital. The deals, worth an estimated $6.25 billion, will also include a number of coal plant purchases, Dynegy stated as it aims to boost its overall capacity to nearly 26,000 MW.
The Indian government has approved relief measures designed to improve the availability of gas supply for power plants via its Administered Pricing Mechanism (APM). A financial package worth $19.7 billion will aim to support gas price pooling and reduce gas shortages.
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.
The Egyptian prime minister Ibrahim Mahlab has urged operators to make more electricity supply available by the start of next week, as public resentment builds against the government over blackouts lasting up to eight hours per day in some regions amid blazing temperatures of up to 40°C.
Knoxville-based power producer Tennessee Valley Authority (TVA) plans to build a 1,000 MW gas-fired power station to replace its existing Allen coal plant in Memphis, Tennessee. The project is expected to cost $975 million and to be complete by December 2018.
Turkish multinational Karadeniz Holding is to send a floating gas-fired power station to Gaza to provide electricity for the region which has struggled to keep the lights on after apparent Israeli shellfire damaged and partially destroyed the Gaza Power Plant – the only source of power supply in the Palestinian enclave.
Increasing the capacity factor of U.S. combined cycle plants to 70% by 2030 to meet Environmental Protection Agency (EPA) targets is ‘doable’, according to Georgia-based energy firm Oglethorpe Power, but will require expansion of the country’s gas pipeline and transportation networks.
Thailand’s state-run energy firm PTT plans to sell shares in its power generation division Global Power Synergy Co (GPSC) via an initial public offering in the first quarter of 2015. The sale is hoped to raise $251.18 million that will be used to boost the firm’s generating capacity from 1,800 MW to 6,000MW.
Marshall County Commission (MCS) has approved a proposal to construct a 549 MW gas-fired power plant in Marshall County, West Virginia. The facility, to be built by New York-based independent power plant (IPP) developer Moundsville Power, will cost an estimated $615 million and is scheduled to start operation in mid-2015.
Nigerian electricity distribution company Eko plans to increase power generation from its network by 20% each year until 2020, to reach 1,000 MW. Eko is currently in discussions to sign power purchase agreements (PPA) that will underpin investment for six small scale power plants with capacity of 170 MW. Deals are expected to be signed in the fourth quarter of 2014.