CCS will require global investment of $42bn by 2020 concludes IEA
A meeting of energy ministers from member countries of the International Energy Agency (IEA) has concluded that an investment of $42bn will be needed by the year 2020, to achieve the development of carbon capture and storage (CCS) technology.
To diminish the greenhouse gas effect the IEA proposes that 100 projects involving carbon capture should be implemented by 2020.
Speaking after the meeting held at the headquarters of the Organization for Economic Cooperation and Development (OECD), IEA executive director, Nobuo Tanaka said: “The carbon capture and storage projects need to be tested on OECD member countries first before diffusing to non-members of OECD.”
During the two-day meeting, energy ministers from 28 member countries discussed the challenges and response concerning energy utilization and climate change.
Saudi Electricity to invest $20bn in IPP projects through 2018
Saudi Electricity (SEC) plans to spend $20bn to add more than 10 GW of generation capacity through six IPP projects, according to Amer al-Swaha, the head of IPP at SEC.
SEC plans to spend $80bn to add a total of 20 GW through 2018, plus $20bn on IPP projects.
IPP projects slated for completion from 2013 to 2021 include the 1200 MW Rabigh plant, the Riyadh 2000 MW PP11 plant, a 2000 MW Qurayyah plant, a 1000 MW plant in Dheba, a 2520 MW plant in Ras Azzour and an 800 MW plant in Shuqaiq, Swaha said.
Abu Dhabi completes Shuweihat 2 funding
The Abu Dhabi Water and Electricity Authority (ADWEA) has finally completed the long-term financing for the $3.2bn Shuweihat 2 independent power and water project (IWPP) after being delayed due to the downturn.
According to MEED, a total of 15 lenders collectively committed $2.2bn in long-term debt to the project. The expansion project is being developed close to the Saudi Arabian border by GDF Suez Energy International, Marubeni Corporation of Japan and ADWEA.
The banks set the margin on the debt at 260 basis points above the Libor rate, rising to 350 basis points over the 22-year length of the debt.
KEMA assists Turkey with distribution network planning
Dutch consultants KEMA has been commissioned by the Dutch Agency for International Business and Cooperation to assist the Turkish Distribution company, TEDA, in enhancing its network planning methodologies in liberalized markets.
The project is due for completion in December 2010 and is part of Turkey’s bid to join the European Union (EU). KEMA will review current methodologies, develop a new model and set of standards, plus provide training to ensure the sustainability of the project results.
It will also review the actions of TEDA as a distribution system operator and assess its compliance with EU Directives, and making its recommendation thereafter.
TEDA is divided into 21 regional distribution companies, which are currently being privatized. To-date, four regions have completed this ‘transfer of operating rights’ process.
The country has been experiencing an annual increase in demand for electricity of six to nine per cent in recent years and is seeking to add capacity from private generators.
Egypt’s EEHC to add 3250 MW of generating capacity
The Egyptian Electricity Holding Company (EEHC) is planning to build three new power plants in the Sinai, Red Sea and Qena governorates, with a combined installed capacity of 3250 MW, reports MEED.
The new plants are reported to be costing EGP20bn ($3.66bn) and form part of a wider project by EEHC to add an average of 3000 MW of capacity per year between 2013 and 2027.
The new projects include a 750 MW combined-cycle power plant at Nuweiba in the east of the Sinei Peninsula and a 1300 MW plant at Ain Sokhna in the northeast. EEHC also plans to build a 650 MW plant at Safaga in the east and add 650 MW to the Suez steam power plant.
Solar thermal partnership for Southern Africa
Californian solar thermal technology company eSolar is expanding its sales operations into sub-Saharan Africa with a tie-up with Johannesburg-based Clean Energy Solutions (CES).
The provider of modular, scaleable solar thermal technology has granted CES the exclusive right to distribute eSolar’s technology in a seven-country region, including South Africa, Namibia and Botswana.
South Africa has set the goal of providing 10 TWh of electricity from renewable resources by 2013.
Egypt: The Egyptian government has signed a deal with a consortium of companies to build a EGP1bn ($183m) electricity connection linking the Abu Qir area in the north to Badr City, a distance of some 340 km.
Israel: Eshkolot Energy is planning to build a $200-$250m gas fired power plant in the Kiryat Gat industrial zone and is in talks with natural gas suppliers Yam Tehys and East Mediterranean Gas Company regarding a supply contract.
Jordan: A consortium comprising Korea Electric Power and Saudi Arabia’s Zenel Company has signed an agreement with Jordan’s Ministry of Energy & Mineral Resources to build and operate the Qatraneh combined-cycle power plant, estimated to cost $455m.
Jordan: Ausra Incorporated has won the contract to supply the steam boiler for the 100 MW JOAN1 concentrating solar thermal power project currently under development in Ma’an – claimed to be the world’s first large-scale direct steam CSP plant.
Russia: Russia’s Sberbank has indicated its willingness to issue a RUB20bn ($692m) loan to RusHydro for the restoration of the Sayano-Shushenskaya hydropower plant in Siberia, seriously damaged in an accident in August, which resulted in the death of 75 workers.
Saudi Arabia: GE Energy has signed a contract to deliver a Mark VIe integrated control system (ICS) to Saudi Electricity Company’s 200 MW Riyadh power plant (PP10).
Saudi Arabia: Responsibility for electricity tariffs for commercial, industrial and residential consumers has been transferred from the Council of Ministers to the Electricity and the Cogeneration Regulatory Authority.
South Africa: South Africa’s Energy Department and the Clinton Foundation have signed a Memorandum of Understanding for the construction of India’s first solar park in Gujarat State.
Turkey: Suzlon Energy has secured an order from Turkey-based Ayen Enerji to supply and install 27 wind turbine units for the Seferihisar and Mordogan projects in the east of the country.