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Tongyeong Eco Power’s 1GW LNG Plant begins operations in South Korea

Global, News

Tongyeong Eco Power’s combined-cycle power plant has commenced commercial operations in Gyeongsangnam-do, South Korea, with a capacity exceeding 1GW, supplying electricity to nearly one million households. The liquefied natural gas (LNG)-fueled plant aligns with South Korea’s strategy to transition from coal to LNG and includes a 200,000 cubic meter LNG storage tank. GE Vernova has provided critical components for the plant, including two 7HA.02 gas turbines, one STF-D600 steam turbine, two heat recovery steam generators…

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GreenLine Mobility to expand LNG fleet, aims for 1,000 more trucks by March 2025

India, News

GreenLine Mobility Solutions Ltd, a key entity in Essar’s green mobility initiative, plans to expand its fleet by adding 1,000 Liquefied Natural Gas (LNG)-powered trucks by March 2025. This move aligns with India’s strategy to decarbonise the logistics sector and reduce emissions in its journey towards net zero by 2070. GreenLine’s CEO, Anand Mimani, emphasized the company’s commitment to sustainable logistics, aiming to meet the rising demand for eco-friendly solutions as corporations increasingly prioritize Environmental,…

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JERA explores investment in Vietnam’s natural gas-fired power plant amid LNG transition

Global, News

Japan’s utility giant JERA is considering investing in a natural gas-fired power plant in Vietnam, as part of the region’s shift from coal to liquefied natural gas (LNG). With Vietnam’s power sector rapidly evolving, gas-fired plants are expected to make up 24.8% of the country’s installed capacity by 2030, totalling 37.33 GW, with LNG playing a major role. JERA’s investment decisions align with energy transition policies across Asia and the decline of local natural gas…

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India and UAE sign LNG and nuclear agreements during Crown Prince’s visit to New Delhi

India, News

India and the UAE have signed five agreements, focusing on energy collaboration. Prime Minister Narendra Modi held talks with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan during his visit to India. ADNOC and Indian Oil Corporation (IOC) signed a 15-year deal for 1 million tonnes of LNG annually. ADNOC also partnered with India Strategic Petroleum Reserve Limited (ISPRL) to explore crude storage options in India. Urja Bharat, a joint venture…

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Maharashtra approves Rs 9.7 billion for conversion of MSRTC buses to LNG

India, News

The Maharashtra government has approved a Rs 9.7 billion plan to convert 5,000 diesel-run Maharashtra State Road Transport Corporation (MSRTC) buses to Liquified Natural Gas (LNG) as part of its green transport initiative.  According to the government resolution, the allocated funds will be distributed over four years: Rs 400 million for 2024-25, Rs 2 billion for 2025-26, Rs 3.7 billion for 2026-27, and Rs 3.6 billion for 2027-28. The MSRTC board of directors had previously…

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Sri Lanka, India’s Petronet LNG sign MoU for power generation

India, News

The Sri Lankan government and India’s Petronet LNG Limited have signed a memorandum of understanding (MoU) to develop infrastructure for LNG storage, regasification, and supply for a combined cycle power plant. The agreement with Sri Lanka’s LTL Holdings Limited focuses on the Sobadhanavi Combined Cycle Power Plant in Kerawalapitiya, north of Colombo.  The initiative would reduce energy costs by up to 50% compared to fuel-based power generation. The project, expected to be implemented within 18…

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UltraTech Cement expands electric truck fleet for sustainable logistics

India, News

UltraTech Cement Limited is expanding its use of electric trucks, contracting 100 EV trucks to transport 75,000 tonnes of clinker monthly over a 400-km roundtrip between its Dhar Cement Works in Madhya Pradesh and Dhule Cement Works in Maharashtra. This initiative is projected to cut carbon emissions by 17,000 tonnes annually. The move builds on a pilot project launched in January 2024 with five EV trucks. UltraTech plans to deploy 500 EV trucks by June…

Power Sector News Roundup for November 11, 2024

Power Bytes

Global: COP29: IEEFA urges banks to reorient lending for renewables; $400 billion annual funding shortfall identified Tongyeong Eco Power’s 1GW LNG plant begins operations in South Korea Oklo secures environmental permit for fission power plant in the United States India: Battery storage critical for India’s shift from coal; renewable capacity lags behind TERI unveils policy brief outlining India’s green hydrogen roadmap towards decarbonization India’s climate policies poised to cut 4 billion tonnes of CO₂ by…

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Dominion finalises sale of 50% stake in CVOW project to Stonepeak

Global, News

Dominion Energy has completed the sale of a 50% non-controlling interest in its Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak, an alternative investment firm.  This transaction, first announced in February 2024, has provided Dominion Energy with $2.6 billion in proceeds, approximately half of the capital investment made in the project so far. Stonepeak will also finance half of the remaining project costs, following pre-disclosed conditions. Dominion Energy retains full operational control over the…