World Bank awards loan to strengthen India’s grid
Power Grid Corporation of India Limited (PGCIL), the government owned power transmission company, has inked a loan agreement for $400m with the World Bank.
The loan will be utilized to fund power grid transmission projects during the remainder of the 11th five-year plan, which end in 2012.
The loan assistance will be used by PGCIL to implement regional and grid strengthening schemes as part of an effort to create of strong and national grid.
The loan will also strengthen the transmission system in various regions of the country and also enhance the inter-regional power transmission capacity of the country.
PGCIL has previously received loans from the World Bank totalling more than $2bn for various transmission projects, and a further assistance of $1bn is currently under discussion.
The Government of India has extended guarantee for this loan.
Initial price indication for Australia’s carbon trading scheme
The first trade in Australian Emissions Units (AEU) since the government released its blueprint for a carbon-trading scheme has been made.
Carbon broker Newedge Australia handled a transaction of 10 000 AEUs expiring on 20 June 2012 at A$22.25 ($15.14) each.
Australia, which is the developed world’s biggest per-capita emitter of greenhouse gases, plans to cap emissions from mid-2010 and introduce a carbon-trading market.
AEUs will be the basic tradeable unit of the scheme. They are already being traded in an over-the-counter market where brokers match buyers and sellers.
The price of the trade was close to the current pricing of Carbon Emission Reduction (CER) units on the European Climate Exchange.
Thailand’s brings forward plans for output from small power producers
Thailand’s National Energy Policy Council has approved a revised small power producers (SPPs) plan.
Pornchai Rujiprapa, the permanent secretary of the Energy Ministry, said new output from SPPs was expected to be ready three years earlier than scheduled.
The required output is 1985.4 MW. The Office of the Energy Regulatory Commission, the energy policymaker, previously planned to see SPPs begin construction in 2010 and complete their plants by 2016.
Under the new timetable, the bidding process will finish several months ahead of schedule as plants should start construction in early 2010 and all SPPs should be ready to start operation in 2013.
Tata Power synchronizes 250 MW unit near Mumbai
India’s Tata Power has synchronized the 250 MW, coal fired Unit 8 at the Trombay power station in Chembur, near Mumbai.
The new unit, which is due to be commissioned in the near future, raises the installed capacity of the power plant to 1600 MW.
Upon the commissioning of the new unit, 100 MW will be supplied to Brihanmumbai Electric Supply and Transport, 50 MW to Tata Power’s distribution business, Tata Power Company – Distribution, with the remaining output supplied to Tata Power’s trading unit to be traded on the power exchange.
The company is also set to strengthen its renewable energy portfolio, with the recent signing of a Memorandum of Understanding with the Gujarat government to build both a geothermal and a solar power plant.
Vietnam lays out $294m 2009 power programme
The Vietnam Electricity Group (EVN) has said it will invest close to VND50trn ($294m) this year in new electricity generation capacity.
The state-owned company said that currently it has raised VND44trn, and is actively seeking the remaining VND5trn.
To make up the shortfall, EVN will take full advantage of the country’s official development assistance and preferential credit sources, seek commercial loans and issue bonds worth VND4trn.
EVN aims to bring nine power plants into operation with a combined capacity of 2700 MW, and commence the construction of four thermal power stations, with a total capacity of 3800 MW.
New Zealand’s North-South grid link due by 2012
Three unnamed companies are vying to win the contract to upgrade of the subsea electricity link between New Zealand’s North and South Islands.
The new NZ$700m ($378m) link will double the amount of electricity that can be transferred between the two islands.
According to Patrick Strange, chief executive of Transpower New Zealand, which owns and operates the country’s high-voltage electricity transmission grid, the contract is due to be awarded later this year with the link completed in April 2012.
Australia: British energy company, BG Group has dropped plans for a gas fired power station in the Hunter Valley in New South Wales.
China: According to the State Electricity Regulatory Commission, China’s power capacity increased 90.51 GW in 2008, up over 10 per cent year-on-year. The total installed capacity reached 793 GW.
China: Guodian Corporation has begun construction of a $658m, 2200 MW coal fired power plant in the southern Guangxi Zhuang Autonomous region.
China: The China National Nuclear Corporation has said that construction of three nuclear plants will begin this year. The first will be the Sanmen nuclear plant, comprising two 1250 MW reactors.
India: Bharat Heavy Electricals Limited (BHEL) has secured a turnkey contract from Jindal Power for a 2400 MW thermal power plant in the state of Chhattisgarh. The contract is valued at INR50.4bn ($1bn).
Indonesia: Babcock & Wilcox Power Generation Group, part of the Babcock & Wilcox Company, has been awarded a refurbishment contract for two B&W Radiant Tower type boilers at the Suralaya steam power plant on Java Island.
Indonesia: Mitsubishi Heavy Industries has received a turnkey order for a 750 MW gas turbine combined-cycle power plant from PT.PLN, Indonesia’s state-owned electricity generator. The plant is slated to go on-stream late 2011.
Malaysia: Alstom SA has submitted a bid to Tenaga Nasional Bhd for a 212 MW hydropower plant in Hulu Terengganu, as well as a bid to be the equipment supplier for Sawawak Energys Bhd’s Murum hydroelectric power plant.
Pakistan: Zorlu Enerji of Turkey is to build a 50 MW wind farm in Pakistan at a cost of $120m. At a later date, the farm’s capacity could be extended to 250 MW. A power purchase agreement has been signed with the Hyderabad Electric Supply Company.
Sri Lanka: Suzlon Energy has received an order to supply 10 MW of turbine capacity to a project being developed by Senok Wind Power in the Kalpitiya region of Sri Lanka.