Power Sector News Roundup for November 12, 2024

Power Bytes

Global: ACCA report warns of inadequate climate preparedness among businesses. EnBW to install a 100 MW battery storage system in Marbach, Germany. ScottishPower signs £1 billion deal with Siemens Gamesa for East Anglia 2 offshore wind farm. Entrion Wind secures US patent for FRP monopile technology. SPPC awards 7.2 GW power project contracts under Saudi Vision 2030. Energy Vault to build a 57 MW battery storage project in Texas. Nexans to sell AmerCable to Mattr…

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JERA Nex and Catalyst Energy partner for clean energy deployment in US

Global, News

Renewable energy firm JERA Nex has formed a strategic partnership with Catalyst Energy Partners (CEP) to accelerate clean energy deployment across the United States. This collaboration aims to develop, construct, own, and operate new utility-scale renewable energy facilities, leveraging existing grid infrastructure alongside conventional power plants. Through this partnership, JERA Nex will provide financial backing, strategic insights, and operational expertise to support CEP’s clean energy projects. CEP brings a portfolio of development-stage renewable assets and…

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Understanding Tendering Processes and Ownership Models

Analysis, Power 101

Tendering processes and methods are crucial in the development and execution of construction projects, especially in sectors like power and infrastructure. These processes help ensure transparency, competitiveness, and efficiency in project delivery. Additionally, different ownership models such as BOO (Build-Own-Operate), BOOM (Build-Own-Operate-Maintain), and BOOT (Build-Own-Operate-Transfer) play a significant role in structuring project financing and management. Let’s delve into these aspects in detail. 1. Overview of Tendering Processes Tendering is the procedure by which organizations (public…

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EIB grants €120 million loan to Iberdrola for energy innovation in Spain

Global, News

The European Investment Bank (EIB) has signed a €120 million loan agreement with Iberdrola to support research and innovation in energy technologies, focusing on accelerating electrification and decarbonisation. The total investment associated with these initiatives amounts to €250 million. The funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, wind power, hybrid, and agrovoltaic projects. It will also support research into decarbonisation technologies such as green hydrogen and heat…

Power Sector News Roundup for October 18, 2024

Power Bytes

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…

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SSEN Transmission open offshore hub in Inverness

Global, News

SSEN Transmission has officially opened a new offshore hub in Inverness, Scotland, designed to accommodate up to 100 people and serve as a collaborative space for companies involved in regional energy projects. The hub, housed within SSEN’s existing building, offers desk space and meeting rooms named after iconic local bridges, such as Dornoch and Cromarty. The facility will support SSEN Transmission’s £20 billion ($26.12 billion) Pathway to 2030 programme, which aims to upgrade Scotland’s electricity…

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Seaspan to manufacture SMR components for Westinghouse

Global, News

Westinghouse Electric has signed a memorandum of understanding (MoU) with Seaspan to produce essential components for its AP1000 and AP300 small modular reactors (SMRs). This partnership will support nuclear new-build projects in Canada and globally, including the manufacturing of components like pipe spools and steel structures. Seaspan’s expertise in large-scale custom fabrication positions the company to enter the nuclear sector. For each AP1000 unit built outside Canada, Westinghouse estimates a contribution of nearly C$1 billion…

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GE Vernova to supply 7HA.03 gas turbines for Nanko power station in Japan

Global, News

GE Vernova has secured a contract from Kansai Electric Power Company to provide three 7HA.03 gas turbines to modernise the Nanko power station in Osaka, Japan. The turbines will replace existing LNG power generation assets, including three boilers and three steam turbines, significantly increasing the plant’s efficiency and reducing carbon dioxide emissions, aligning with Japan’s net-zero emissions target by 2050. The upgraded Nanko power station is expected to deliver up to 1.8 GW of electricity….

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UK Chancellor commits £22bn to carbon capture projects in northern England

Global, News

UK Chancellor Rachel Reeves has announced a £22 billion ($28.97 billion) investment in carbon capture and storage (CCS) projects in Merseyside and Teesside. Spread over 25 years, the funding will support capturing emissions from energy producers, industry, and hydrogen power, aiming to help the UK meet climate goals and create thousands of jobs. The projects, backed by BP, Equinor, and Eni, will expand on earlier efforts to capture up to 30 million tonnes of CO₂…

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Europe’s electrification stagnates as industrial slowdown impacts power demand

Global, News

A new report by Eurelectric, titled Power Barometer 2024, reveals that Europe’s electrification rate has stagnated at 23% for the past decade, falling short of its 50% target by 2040. The stagnation is largely driven by an industrial slowdown and decreased electricity demand, with EU power consumption dropping by 7.5% between 2021 and 2023. Industries have struggled to electrify, with only a third of their energy consumption coming from electricity, and just 4% of process…