Indian hydroelectric project receives joint venture backing
/ India’s JK Power Development (JKPDC) and National Hydroelectric Power (NHPC) will form a joint venture to build the 850MW Ratle hydroelectric power project in Jammu and Kashmir.
In announcing the venture, India’s Public Investment Board reportedly suggested it would approve a $721m (Rs52.81bn) investment in the project, PTI reported. This includes a joint-venture investment of $110m (Rs8.08bn) by NHPC.
A PIB spokesperson was quoted by the news agency as saying: “The recommendations of the PIB will pave the way for final approval of the project and an early beginning of work on the project.
“All the clearances for the project are already in place and the project is expected to be completed within 36 months of the start of work. The initiation of the project will be yet another step in adding to the revenues of the area from its abundant hydro resources.”
Additionally, the Government of India will provide JKPDC’s investment of $106m (Rs77.6bn) in the joint venture. /
EU states approve $1.17bn investment in energy infrastructure
/ European Union (EU) member states have approved the EU Commission’s proposal to invest $1.147bn (€998m) in energy infrastructure projects.
Funds allocated under the Connecting Europe Facility (CEF) form part of the European Green Deal plan. Ten projects will receive financial aid, with electricity and smart grid projects receiving 84% of the allocated funds.
Energy Commissioner Kadri Simson said: “These ten projects will contribute to a more modern, secure and smart energy infrastructure system, which is crucial for delivering the European Green Deal and meeting our ambitious 2030 climate targets.
“Yesterday’s decision marks a decisive step in the Baltic Synchronisation process in particular, a project of European strategic interest. These investments will help sustain the EU’s economic recovery and create jobs.”
As part of this initiative, the EU allocated $847m (€720m) to the Baltic Synchronisation Project. This will focus on better integration of electricity markets in Estonia, Latvia, Lithuania, and Poland.
A CEF grant of $120m (€102m) has been allocated for the Danube Ingrid project, which will see the integration of smart electricity grids in Hungary and Slovakia.
The North Sea Wind Power Hub will receive funding of $16m (€14m) to support a study for the development of an offshore wind in the North Sea.
The Bulgaria – Serbia Interconnector project will receive $33m (€28m) to improve security of supply and diversification of gas imports in south-east Europe.
Additionally, the Porthos CO2 transport network project will receive $120m (€102m). This will develop an open access transport network in three of Europe’s largest ports, Rotterdam, Antwerp and North Sea Port, leading to an offshore storage site in the North Sea. /
Exxon Mobil to develop LNG power plant in Vietnam
/ Vietnam's port city of Haiphong has reportedly announced that authorities have approved a liquefied natural gas (LNG) power plant, to be developed by Exxon Mobil.
Reuters reported that the $5.09bn LNG power plant will begin power production from 2026-27. It will have an initial capacity of 2.25GW, expanded to 4.5GW by 2029-2030.
In addition, the project will include construction of an LNG, terminal with an annual capacity of six million tonnes.
Exxon Mobil did not provide immediate comment on the latest development. /
Total explains move into renewable energy, biofuels and EV charging
/ Total executives have outlined their vision of how the former oil and gas company will move into new markets at its investors’ day.
A company statement said that it will focus on growing its liquefied natural gas (LNG) and electricity businesses. The company plans to use these sources equally, aiming to generate another one million barrels of oil equivalent per day (Mboe/d) by 2030.
It will also increase its renewable investment to $3bn, making up 20% of Total’s capital investment.
The statement summarised: “In the next decade, oil products sales from Total will diminish by almost 30% and Total’s sales mix will become 30% oil products, 5% biofuels, 50% gases, 15% electrons.” /
Repsol integrates Delta wind project turbines into Spanish grid
/ Global energy company Repsol has finished integrating the first wind turbines of its Delta wind project in Aragon, Spain, to the grid.
Repsol has two major projects in development in the northern Spanish region. The Delta project comprises eight wind facilities, located across the Zaragoza and Teruel provinces.
With an installed capacity of 335MW, the project features 89 wind turbines, built with an investment of $353m (€300m).
A company spokesperson said that the construction and commissioning of the facility was completed in less than 12 months.
The company’s portfolio includes Delta 2, which comprises 26 wind farms located in the provinces of Huesca, Zaragoza, and Teruel. These have a total capacity of 860MW.
Repsol will operate the project on a trial basis, and beginning commercial operation at the end of the year. /
Russia’s InterRAO to invest $580m in gas turbine venture with GE
/ Russian energy holding company InterRAO reportedly plans to invest $580m (RUR45bn) in a gas turbine joint venture with General Electric.
Reuters reported that the investment comes at a time when Western gas turbine manufacturers are investing in the country, as it plans to upgrade a quarter of its thermal power capacity.
Currently, Russia is not involved in the production of medium or large capacity gas-fired power turbines. However, the Russian government wants such turbines to be produced locally.
The move provides new opportunities for Western turbine manufacturers, as the demand for such turbines has decreased in the global markets recently.
According to InterRAO strategy head Alexey Maslov, the investment in the joint venture will pave the way for launching production lines in the country. InterRAO will hold a 51% stake in the joint venture project.
The joint venture has set a target to manufacture gas turbines with 79MW-87MW and 181MW-210MW capacity by 2025-2026. It also aims to produce at least 90% of these locally.
Maslov added that the demand for such turbines is expected to increase after 2030. InterRAO hopes to sell 20-25 of these turbines. /
NextEra Energy to acquire power transmission company GridLiance
/ NextEra Energy Transmission has signed an agreement to acquire US-based independent power transmission company GridLiance.
The deal with Blackstone affiliates holds an estimated value of approximately $660m, including the assumption of debt.
Established in 2014 by Blackstone Energy Partners, GridLiance currently owns and operates more than 700 miles of transmission lines and related substation infrastructure across six states in the US.
It has also established a presence in the California Independent System Operator, Southwest Power Pool, and Midcontinent Independent System Operator regions. /
Mitsubishi Power to build 1.4GW gas power plant in Thailand
/ Mitsubishi Power has signed a contract with Hin Kong Power Company to construct a 1.4GW natural gas-fired combined cycle turbine facility on a turnkey basis.
The Thailand-based independent power producer will run the power facility, built nearly 100km west of Bangkok. The business is a special purpose company established by RATCH Group and Gulf Energy Development.
As per the terms of the engineering, procurement and construction contract, Mitsubishi Power will supply two of its M701JAC gas turbines for the facility.
A Mitsubishi Power spokesperson said the high-temperature exhaust gas released from the turbines will drive the steam turbine to produce electricity.
The company claims the facility will reduce carbon emissions by up to 70% in comparison to conventional coal-fired thermal power plants.
Additionally, the contract includes a 25-year long term service agreement for the project. Under this agreement, Mitsubishi Power will offer maintenance services for the turbines, which will be installed at the facility to ensure reliable operations.
The turbines will begin commercial operation in March 2024 and January 2025. Once operational, the Electricity Generating Authority of Thailand will buy the produced power to supplement the country’s supply. /