Projects & Finance

The Iraqi Ministry of Electricity (MoE) has awarded GE Power a $400 million contract to develop 14 electric substations on a turnkey basis, including supply of transformers and circuit breakers to rehabilitate existing substations. The aim of the project is to bring electricity to remote areas in Iraq with crippling power shortages.

NIOC, the National Iranian Oil Company is keen to follow through on Iran’s first ever gas export contract, sealed by IFLNG – a joint venture between Khark Gas Refining Company and Norway’s Helma. The 20-years contract, set to come into force within three months, stipulates the liquefaction and export of Iranian gas from the South Pars field starting from mid-2018.

Wison Offshore & Marine has forged a strategic cooperation with Shanghai Electric Power Generation Group to jointly develop a medium to large-scale floating LNG power generation barge. The two partners want to commercialise the new FLNG power ship as a first step of a wider strategic cooperation.

The Musandam Independent Power Project (IPP) power plant at Tibat, supplied and built by Wärtsilä, has just been inaugurated and is now utilised for fast-start power supply. The120 MW plant, connected to a new 132kV transmission network, is a major contribution towards the economic development Musandam , a mountainous Omani peninsula projecting into the Strait of Hormuz.

GE’s Power Services business has signed an agreement with Azito Energie to upgrade two gas turbines at the company’s combined-cycle power plant and help increase power output by up to 30 MW. The project at Azito’s CCGT, located in the Yopougon district of the Ivory Coast, marks GE’s first GT13E2 MXL2 gas turbine upgrade in Sub-Saharan Africa.

Shortly after completing the project financing agreement for the Muara Tawar power plant upgrade, Indonesia’s PT. Perusahaan Listrik Negara (PLN) has give Doosan Heavy Industries & Construction notice to proceed (NTP) with works to convert and expand the plant from 1,150MW in open-cycle to 1,800MW in combined-cycle mode.

Sri Lanka’s energy minister Ranjith Siyambalapitiya is seeking to push a proposal for an LNG-fuelled power plant project through Parliament. The 400 MW Hambantota project will be built by a joint venture between the China Machinery Engineering Corporation (CMEC), nominated by the Chinese government, and the Ceylon Electricity Board.

Finland’ technology group Wärtsilä has received full notice to proceed to deliver ten 50SG engines for two new power plants, under construction by an investor-owned utility in the United States. Upper Michigan Energy Resources Corp (UMERC), a subsidiary of WEC Energy Group, will operate the two fast-ramp plants with a combined output of 188 MW.

Japan’s Mitsui has agreed with the Bangladesh government to develop an LNG-fuelled combined-cycle gas turbine (CCGT) power plant with a capacity of between 500 MW and 600 MW at Cox Bazar. A memorandum has been signed in this regard between the state-owned Coal Power Generation Company Bangladesh (CPGCBL) and the Japanese firm. The deal comes just days after the Bangladeshi government agreed with Siemens on a 3.6 GW LNG-to-power project.

Saudi Aramco has signed eight agreements with several contractors with a combined worth of nearly $4.5 billion. The projects include new pipelines and gas processing plants, which according to Amin H. Nasser, Saudi Aramco president and CEO, will “reduce domestic reliance on liquid fuels for power generation.”

Just prior to US President Donald Trump’s departure from a state visit to China, GE Energy Financial Services signed a “cooperation deal” with the Chinese Silk Road Fund. Both parties agreed to set up an infrastructure investment platform, the Chinese government announced without disclosing details about future projects.

Full commercial operation has commenced at the Mirfa Independent Water and Power Plant (IWPP) project, built at a cost of US$1.5 billion, the French utility ENGIE announced. The plant’s 1,600 MW of power and 52.5 million gallons per day (MIGD) of seawater desalination capacity plant covers 10% of Abu Dhabi’s peakload power demand.

Mitsubishi Hitachi Power Systems (MHPS) has received an order for two H-25 gas turbines for an LNG-fired combined-cycle cogeneration power plant in Qingdao, in China’s eastern Shandong Province. The turbines are scheduled to begin operations in December 2018.

Tyr Energy has chosen Siemens as the technology partner for the Hickory Run Energy Center – a new 1,000 MW natural gas-fired combined cycle power plant (CCPP) to be built by Kiewit Power Constructors in Lawrence County, Pennsylvania. Part of the financing comes from Siemens Financial Services (SFS) in form of an equity investment, making SFS a 20% owner of the project alongside the Tyr Energy and Kansai Electric Power.

MAN Diesel &Turbo will continue to service 20 gas turbines and compressors on four platforms, run by the Brazilian oil major Petrobras. Following intense negotiations, the two partners have renewed a comprehensive operations and maintenance agreement, extending the cooperation by another three years.

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