May 14th, 2013
The Russian state-owned nuclear power company Rosatom is attempting to win business in developing countries by offering a comprehensive service they are calling, "Build, Own, Operate" (BOO).
The offer also includes financing to countries seeking to build nuclear plants.
Up until now Rosatom had left operational concerns to domestic utilities however deputy chief executive Nikolai Spassky told the French newspaper Le Figaro that the new formula was crucial in winning business in developing countries who do not have their own nuclear sector.
Rosatom, a major competitor for groups like Areva (Euronext: CEI), Toshiba-owned Westinghouse and Japan's Mitsubishi Corp. has built nuclear reactors abroad in the past, but has so far handed over their operation to domestic utilities.
"With this model, we are fully responsible for the plant's security," Spassky was quoted as saying, adding that Turkey’s first nuclear plant will be run in this way.
Under the BOO model, Rosatom not only builds the nuclear plant, but also owns it and runs it for up to sixty years. Rosatom also delivers nuclear fuel to the plants.
For more nuclear power generation news
May 13th, 2013
The Chief Executive Officer of ABB (SIX: ABBN) is to step down from his role for ‘private reasons’ after five years in charge.
Joe Hogan will stay on in the position until a replacement is found. He joined the company in 2008 and spent $20 billion on investments and acquisitions to broaden its reach and portfolio.
The 56-year-old former General Electric Co. (GE) executive is “committed to a smooth transition,” ABB said in a statement. He didn’t resign because of ill health and there was no conflict with the board or chairman, spokesman Antonio Ligi said, declining to give further details.
“This has been a difficult decision as I leave behind a strong and talented executive committee and a cohesive board whose support I could always count on,” Hogan said.
The company will be looking both internally and externally to find his successor, according to Bloomberg.
For more European power generation news
May 13th, 2013
The $353m European Offshore Wind Deployment Centre (EOWDC) has run into difficulty with the news that Vattenfall has decided to reduce its stake in the project.
The 11-turbine scheme is a joint venture with engineering firm Technip and the Aberdeen Renewable Energy Group (Areg) and has come under sustained opposition from US business tycoon Donald Trump who has a golf development near the area.
Vattenfall said it was having to "prioritise its investments" but Peter Wesslau, Vattenfall's UK country manager, has urged other backers to come in: "The EOWDC is a scheme that will benefit the whole offshore wind industry as it will help to drive down the cost of generation and secure industrial benefits for the UK.
"We therefore believe that the EOWDC deserves wider support through the forging of a strategic industrial alliance.
"However, like all energy companies across Europe, there are constraints on our capital budgets and so Vattenfall has had to prioritise its investments which means calling on new investors to help realise the more than £230m investment in the EOWDC."
For more wind power generation news
May 10th, 2013
The Russian state atomic power company is seeking partners for its new nuclear reactors, and has already invited EDF (Euronext: EDF) to help build Turkey’s first nuclear power plant.
Rosatom is ready to reduce its stakes in the planned Akkuyu nuclear power plant in Turkey to as much as 51 per cent from 100 per cent, as well as in the Baltic plant in Russia. This said Vladislav Bochkov, a spokesman for the Moscow-based company, on Wednesday.
“Rosatom is ready for a strategic partnership with all major energy companies, including EDF,” Bloomberg quoted Bochkov as saying. Bochkov also said that Rosatom may also extend their cooperation with France’s Areva SA.
For more nuclear power generation news
May 9th, 2013
Italian multinational renewable energy corporation, Enel Green Power (BIT: EGPW), is among the five companies awarded with the right to bid for Power Purchase Agreements (PPAs) using geothermal technology aimed at supplying the US Army.
Enel’s North American business, Enel Green Power North America is one of five pre-selected companies that will be invited to take part to future bids.
The decision has been taken by the U.S. Army Corps of Engineers, Engineering and Support Center in Huntsville, AL, working with the Army Energy Initiatives Task Force (EITF), that awarded the first of its kind Indefinite Delivery Indefinite Quantity (IDIQ) Multiple Award Task Order Contracts (MATOC).
The army command believe a list of preferred bidders will expedite the acquisition process for future projects and will speed up overall development timelines to ensure the best value to both the Army and the private sector.
Francesco Starace, CEO of Enel Green Power commented ”Being a pioneer in geothermal energy production, Enel Green Power is permanently committed to implementing new initiatives to strengthen our role abroad as the world’s undisputed leader in the geothermal energy sector. Being selected by the US Army now is a clear step in that direction. We are excited to have been given the chance to support the US. Army’s efforts in achieving their clean energy goals.”
Worldwide Enel Green Power has 770 MW of net installed geothermal capacity and produces about 5.5 TWh annually.
For more renewable power generation news
May 9th, 2013
The Irish state owned power business, Bord Gais Energy, is up for sale with several UK-based utilities expected to bid.
The retail, assets and trading business Bord Gais Energy, expected to cost around $1.97bn.
Centrica, the owner of British Gas, has confirmed it is interested in the utility, which has around one million gas and electricity customers and power generation assets of 683 MW.
SSE has previously expressed an interest and E.ON, EDF (Euronext: EDF) and GDF are also considered likely bidders, according to Utility Week.
The sale is due to be completed by the end of 2013.
For more power generation business news
May 9th, 2013
Orta Solar has announced that it is being forced to consider postponing over $280m of UK solar construction projects in reaction to an EU trade levy of between 40 per cent and 70 per cent proposed to be added to the import price of Chinese solar products.
“We’re tremendously disappointed to hear this proposed news”, declared Nick Pascoe, the business’s Managing Director, “we invest many millions in surveying, planning, legal, financial and technical design work typically twelve months prior to constructing these projects and as of today we no longer know whether it will be economically viable to construct UK commercial scale Solar farms later in 2013 and beyond. How can we possibly continue to invest?”
Orta Solar are a Southern England based team that have developed one of the UK’s largest Solar Farm portfolios to date.
For more solar power generation news
May 9th, 2013
The government of Oman is in the process of setting out tenders for up to three new power plants in the country, as they seek to boost generating capacity by 2000 MW to 5000 MW.
According to the Times of Oman, the tenders will be scheduled so that the new plants come on line by 2017-18 in order to meet a growing demand for power in the country.
Dr Hilal Abdullah Al Nasseri of Oman Power & Water Procurement Co (OPWP) - the government-owned entity responsible for buying the nation's power and water supply - said demand for power is set to grow by around 9.5 per cent a year over the next ten years, meaning that between 7190 MW-9133MW will be needed by 2019.
OPWP is also carrying out a detailed study to find a location for a new 200MW-300MW power plant in Duqm.
Dr Al Nasseri said that tenders have been floated for an IPP at Raysut in Salalah with a capacity of 300 MW.
The country recently added two new 744 MW gas power plants to its generation fleet as it continues to build out capacity.
For more Middle East power generation news
May 8th, 2013
Another gas-fired power plant in Europe may be put into storage after E.ON announced today that it is "seriously considering" mothballing a state-of-the-art plant in Slovakia.
Chief Executive Johannes Teyssen speaking in conjunction with the company's first-quarter earnings report said the company’s power generation business across Europe remains under intense pressure as power prices are hovering around historical lows.
"The economic situation of our legacy business in Europe, particularly in conventional power generation, remains difficult," he said.
The company is actively considering the mothballing of their 430 MW gas-fired power plant, which was commissioned in 2010.
The Wall Street Journal reports that Mr. Teyssen renewed his calls on lawmakers to help revitalize the European Union's carbon dioxide emissions trade to help improve prospects for gas-fired power plants, "which are currently being crowded out of the market by renewables and carbon-intensive lignite".
"That's why we're urgently calling for a new market design for the power market, one that has fair rules for maintaining generating capacity and long-term incentives to encourage the construction of new assets," Mr. Teyssen said.
For more gas-fired power generation news
May 7th, 2013
International private equity firm Denham Capital is investing $75m in a 1 GW portfolio of wind farms in Australia.
Denham has joined three companies including renewable energy firm Enersis Australia to form OneWind Australia, which will build three wind farms: the 100 MW Glen Innes in New South Wales; 250 MW Lincoln Gap in South Australia; and 240 MW Cattle Hill in Tasmania.
Denham has appointed Michael Toke as managing director of OneWind Australia, which is based in Sydney. Toke has more than 10 years of experience in the wind industry, most recently as chief executive of Cannon Power Group, a California company that developed, financed and built more than 1000 MW of wind capacity globally.
Scott Mackin, managing partner at Denham Capital, said: “We are delighted to be forming OneWind Australia with our partners and look forward to accelerating the near term pipeline of projects.”
He said the investment “underscores Denham’s commitment to Australia”.