International

Clean energy investment soars 30 per cent to $243bn in 2010

Global clean energy finance and investment grew to $243bn in 2010, up 30 per cent on the previous year. China, Germany, Italy and India were among the nations that attracted most private investments, according to new research released by The Pew Charitable Trusts.

China’s record $54.4bn in investments in 2010 represented a 39 per cent increase from 2009. Germany was second in the G20, up from third, with a 100 per cent increase in investment to $41.2bn.

The US, which held the top spot until 2008, slipped again to third with $34bn. The UK plunged fastest among the G20, from 5th to 13th. The report suggests uncertainty over policies in these countries is making investors look elsewhere. India joined the top ten ranking, attracting $4bn, a 25 per cent increase.

Wind power continued to be the favoured technology for investors at $95bn. But the solar sector saw investments grow 53 per cent to $79bn and more than 17 GW of new generating capacity globally. Germany accounted for 45 per cent of global solar investments.à‚ 

Kuwait issues tender for 1.5 GW Al-Zour North IWPPà‚ 

Kuwait has issued a tender for constructing the 1.5 GW Al-Zour North independent power and water project (IWPP).

Eleven companies and consortia, including Mitsui, Marubeni, GE and GDF Suez have prequalified to bid for the 1.5 GW plant, which could cost $2.7bn. A preferred bidder is set to be chosen by year-end. Kuwait is expected to hold no more than 24 per cent of the firm that builds the plant and the strategic investor no less than 26 per cent. The remaining shares will be sold in an initial public offering.à‚ 

Siemens bags follow-up order for Shuweihat 3 plant in Abu Dhabià‚ 

Siemens has received a follow-up turnkey order from the emirate of Abu Dhabi to build a 1600 MW combined-cycle power plant.

The company will build the Shuweihat S3 plant with its Korean partner Daewoo Engineering & Construction Co about 260 km west of Abu Dhabi. The purchaser is a consortium of Sumitomo, Kepco and Abu Dhabi Electricity & Water Authority (ADWEA).à‚ 

PROINFRA offers $100bn for 23 Nigerian power plantsà‚ 

As 331 local and foreign firms submit expressions of interest to the Bureau of Public Enterprises (BPE) to acquire majority stakes in Nigeria’s electricity infrastructure, a Brazilian investor has proposed a $100bn takeover of all 23 power plants slated for privatization.

This Day said the offer from PROINFRA, was unlike interest from the other 331 companies, which include Essar, an Indian conglomerate; Tata Group, also of India; and ContourGlobal of the US.

BPE had revealed that 174 applications came from investors interested in the four thermal stations and the two hydro stations, while 157 applicants expressed interest in the 11 distribution companies.

Essar was said to seek to invest over $2bn for capacity of at least 2 GW. Meanwhile, Power Grid Corporation of India Ltd (PGCIL) said it would submit a revised offer for the management of Nigeria’s electricity grid to be constructed at a cost of $3.5bn.à‚ 

Alstom to add steam-tail to Kuwait plantà‚ 

Alstom has signed a €170m ($240m) contract with Al Ghanim International to build a steam-tail add-on power plant for Kuwait’s Az-zour gas powered power plant, about 80 km south of Kuwait City.

The steam-tail will add 400 MW to the plant’s 800 MW capacity and raise its efficiency. Alstom has been contracted to complete the new plant by 2014. The contract follows Alstom’s 2007 contract with Al Ghanim to supply Az-zour with five GT13 E2 gas turbines and five TOPAIR generators. In addition, Alstom has signed an eight-year service agreement contract.à‚ 

Power Machines to build 4 hydro plants in Turkeyà‚ 

OJSC Power Machines is to build four hydropower plants in Turkey with a total capacity of 940 MW, and a combined investment cost of $1bn, according to the State Waterworks Authority (DSI).

The Russian company aims to build a 180 MW hydropower plant at the Yusufeli Dam, a 600 MW plant at the Gerze Dam, a 90 MW plant at the Kavaktepe Dam, and a 70 MW plant at the Incir Dam.à‚ 

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International: The Global CCS Institute said 224 carbon capture and storage projects were active or planned worldwide at the end of 2010, a net rise of 26 from 2009, despite cancellations in the Netherlands and Finland.

Russia: Power consumption has returned to pre-crisis levels and demand will grow by 2 per cent this year, according to energy minister Sergei Shmatko. Power production topped 125 TWh last year, up 24.5 per cent on 2009.

Russia: Alstom has signed a contract with the Russian company RESAD to supply a GT13E2 gas turbine ” the first to enter the Russian market ” to the Molzhaninovka power plant.

Russia: GE will supply two Frame 6FA gas turbine and associated generators plus technical assistance, on-site training and performance testing for TGK-9’s Berezniki combined-cycle gas plant project, due to produce 220 MW.

South Africa: Construction firm Group Five is planning a R5bn ($742m) 450 MW solar power plant in Northern Cape province. Group Five expects to finalize an off-take agreement with state utility Eskom by the end of 2011.

South Africa: GE is to provide four 2.7 MW J620 gas fired Jenbacher engines to power furnaces for Thos Begbie & Company, a foundry in the heavy industrial hub of Middelburg, Mpumalanga.

Turkey: The Czech Export Bank (CEB) has started financing construction of the 290 MW Yunus Emre A coal fired power plant and a brown coal mine in central province of Eskisehir for CZK11bn ($633m).

Turkey: Gira Solar, a US-Dutch solar power company, has begun talks with local energy companies to build a 100 MW photovoltaic power plant. The project will require 2000 m2 of land, and could be completed within two years.

UAE: The Shams 1 project, a 100 MW CSP plant to be built in Madinat Zayed in Abu Dhabi, has reached financial close. The $600m project is being developed by Masdar, Total and Abengoa, with Mott MacDonald as lenders’ engineer.à‚ 

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