Power Sector News Roundup for October 18, 2024

By

Global: Philippines DOE to commercialize three offshore wind projects Global energy system faces rising risks amid geopolitical strains: IEA Dominion Energy and Amazon sign MoU for SMR development in Virginia Ohmium partners with SwitcH2 Offshore for offshore green hydrogen and ammonia project ARCO/Murray to build Boviet Solar’s manufacturing hub in North Carolina IEA’s Fatih Birol: Fossil fuel demand to peak as world enters “age of electricity” Constellation Energy orders $100m transformer for Three Mile Island…

|

BP considers selling minority stake in offshore wind division

By

BP is exploring the sale of a minority stake in its offshore wind division to offset the substantial development costs associated with its projects, as reported by Reuters. This move follows shareholder pressure over BP’s 2020 energy transition strategy, as profits from renewables have fallen while oil and gas margins have risen. The company has engaged Bank of America to identify potential partners as it seeks to reduce its financial burden in the growing offshore…

|

Wärtsilä to deliver 150 MW BESS for Amp Energy in Australia

By

Wärtsilä has secured a contract to provide a 150 MW battery energy storage system (BESS) with a 300 MWh capacity for Amp Energy in South Australia. The Bungama BESS project, currently in its initial phase, aims to strengthen energy security and reliability as the state increasingly relies on renewable energy. The system will utilize Wärtsilä’s advanced Quantum High Energy storage technology, designed to offer crucial grid services such as frequency control ancillary services, fast frequency…

|

Plenitude begins construction of 220 MW solar plant in Salamanca, Spain

By

Plenitude, an Eni-controlled energy company, has commenced construction of a 220 MW solar plant in Villarino de los Aires, Salamanca, Spain. The facility, spanning 286 hectares, will be among the largest in the Castilla y Leon region and will connect to Spain’s national grid via a 3.2 km underground medium-voltage line. The plant will feature 365,300 bifacial modules and is expected to generate over 400 GWh of electricity annually, with completion targeted for 2025. Sterling…

|

US DoI to expand geothermal energy on public lands

By

The US Department of the Interior (DOI) has announced plans to boost geothermal energy development on public lands, supporting the Biden-Harris administration’s goal of a carbon pollution-free power sector by 2035. The Bureau of Land Management (BLM) has approved the Fervo Cape geothermal project in Beaver County, Utah, which is expected to generate up to 2 GW of baseload power using advanced technology. The BLM has authorized nearly 32 GW of clean energy projects on…

|

Constellation Energy orders $100m transformer for Three Mile Island reactor revival

By

Constellation Energy has placed a $100 million order for a main power transformer, marking a critical step in the revival of the Three Mile Island nuclear reactor in Pennsylvania, according to Reuters. The transformer is the largest single piece of equipment needed for the reactor’s restart. Constellation has committed to investing $1.6 billion by 2028 to bring the plant back online. Following a detailed survey of the site, which assessed essential infrastructure and equipment, Constellation…

|

IEA’s Fatih Birol: Fossil fuel demand to peak as world enters “age of electricity”

By

Fatih Birol, executive director of the International Energy Agency (IEA), stated that with fossil fuel demand expected to peak within the next five years, the world is approaching a new “age of electricity.” In a recent press release, the Turkish economist highlighted that the surplus in oil and gas supplies could drive significant investments in green energy. Birol noted that in the latter half of this decade, the global energy landscape could shift substantially, with…

|

ARCO/Murray to build Boviet Solar’s manufacturing hub in North Carolina

By

ARCO/Murray has been selected to construct a solar manufacturing hub for Boviet Solar in North Carolina, USA.  The project, expected to create 900 local jobs, will be executed in two phases to expand solar module and cell production. Phase one, which began in Q3 2024, involves converting an existing 500,000 square-foot facility into a state-of-the-art manufacturing plant for solar modules using Boviet Solar’s technology. The modules will be used in residential, commercial, and utility-scale applications…

|

Dominion Energy and Amazon sign MoU for SMR development in Virginia

By

Dominion Energy Virginia has entered into a partnership with Amazon to explore the advancement of small modular reactor (SMR) nuclear technology within Virginia.  The two companies signed a memorandum of understanding (MoU) to develop innovative structures for SMR projects, aiming to bring new sources of carbon-free energy to the state. Kevin Miller, Amazon’s global data centers vice-president, emphasized that nuclear energy’s safety and reliability align with Amazon’s goal to achieve net zero carbon by 2040….

|

Global energy system faces rising risks amid geopolitical strains: IEA

By

The International Energy Agency (IEA) highlighted the vulnerabilities in the global energy system, exacerbated by regional conflicts and geopolitical tensions, in its World Energy Outlook 2024. The IEA underscored the need for stronger policies and investments to hasten the energy transition. Despite these challenges, the agency expects a relatively abundant supply of various fuels and technologies in the coming years, including oil, LNG, solar PV, and batteries. IEA Executive Director Fatih Birol noted that an…