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NS ENERGY
Iberdrola Starts Onshore Construction On 2Gw Eastern Green Link 1 Project
Iberdrola has announced the start of onshore construction on the 2GW Eastern Green Link 1 (EGL1) subsea electricity superhighway project between Scotland and England. Eastern Green Link 1 is a joint venture (JV) between Iberdrola’s subsidiary, ScottishPower Energy Networks (SP Energy Networks), and National Grid Electricity Transmission. The transmission project entails an investment of £2.5bn. The 190km long Eastern Green Link 1 involves a 525kV bipolar voltage-sourced converter (VSC) and a high-voltage direct current (HVDC) subsea transmission cable from Torness in East Lothian, Scotland to Hawthorn Pit in County Durham, England. Once completed, the east-coast subsea link is expected to transport clean electricity to two million households. The subsea electricity superhighway project is slated to be operational by 2029. UK Energy Minister Michael Shanks said: “This new electric superhighway will help us on our way by transporting more renewable energy under the North Sea to power millions of homes and businesses, while supporting skilled jobs in our industrial heartlands and saving billpayers hundreds of millions of pounds.” Eastern Green Link 1 was approved by Ofgem last year. Offshore works at the project are scheduled to begin in the summer. As part of the development, two converter stations will be built at both landfall points to convert alternating current (AC) into direct current (DC), enabling efficient long-distance power transmission. Specialised vessels will lay and bury the cable along the seabed before connecting it to the national grid. SP Energy Networks CEO Nicola Connelly said: “Eastern Green Link 1 will play a transformative role in delivering the modern electricity network needed for the future. “At the same time, it will deliver economic growth, jobs and a supply chain boost right across the UK but importantly also for the communities hosting this vital infrastructure.” In December 2023, National Grid Electricity Transmission and SP Energy Networks selected Prysmian to supply nearly 400km of power cables for the project. GE Vernova’s Grid Solutions business and METLEN Energy & Metals were also appointed to construct the two HVDC converter stations. Give your business an edge with our leading industry insights.
water
Feb 14, 2025
NS ENERGY
Bp And Seatrium Sign Mou For Tiber Fpu In Us Gulf Of America
BP Exploration & Production, a subsidiary of BP, has signed a memorandum of understanding (MOU) with Seatrium for the potential development of the Tiber floating production unit (FPU) in the US Gulf of America. Under the agreement, Seatrium would be responsible for the engineering, procurement, construction, and commissioning (EPCC) of the facility. This will be subject to BP’s final investment decision, which is expected to be taken this year. The Tiber oil discovery was first announced by BP in 2009. It is located in Keathley Canyon block 102, approximately 480km southwest of New Orleans. Drilled to a total depth of 10,685m, the Tiber well is one of the deepest wells in the oil and gas industry. It encountered hydrocarbons in multiple Lower Tertiary reservoirs. The MOU builds between BP and Seatrium builds on their collaboration on the Kaskida FPU, another deepwater project in the same region. BP took a final investment decision on Kaskida in July 2024, positioning it as the company’s sixth operated hub in the US Gulf of America. The Kaskida project involves the development of a floating production platform designed to handle up to 80,000 barrels of crude oil per day from six wells, with production expected to commence in 2029. Under the terms of the MOU, BP and Seatrium will define the scope of initial works and the EPCC framework for Tiber. The project is expected to incorporate lessons from Kaskida, including the application of Seatrium’s topsides single-lift integration methodology to enhance construction and installation efficiency. BP estimates that the Tiber, Kaskida, and surrounding discoveries contain approximately 10 billion barrels of discovered resources. Give your business an edge with our leading industry insights.
water
Feb 14, 2025
NS ENERGY
Arcadium Lithium’S $6.7Bn Takeover By Rio Tinto Receives Regulatory Approvals
Arcadium Lithium has received all required regulatory approvals ahead of its proposed $6.7bn acquisition by Rio Tinto, clearing the way for the deal to proceed. The approvals include merger-control clearance in Australia, Canada, China, Japan, South Korea, the UK, and the US, along with investment-screening approvals in Australia, Canada, Italy, the UK, and the US. The Royal Court of Jersey is scheduled to hold a sanctions hearing on 5 March 2025 to consider Arcadium Lithium’s application under the Scheme of Arrangement process. The transaction is expected to close on 6 March 2025, subject to court approval. Following the completion of the acquisition, Arcadium Lithium’s shares will be delisted from the New York Stock Exchange (NYSE), and its CHESS Depositary Receipts (CDIs) will be removed from the Australian Securities Exchange (ASX). First announced in October 2024, the deal will see Arcadium Lithium shareholders receive $5.85 per share under the terms of the agreement. Rio Tinto aims to strengthen its position in the energy transition sector by integrating Arcadium Lithium’s operations into its portfolio. Arcadium Lithium has a vertically integrated business covering lithium extraction and manufacturing, with operations in Argentina, Australia, Canada, China, and the US. The company specialises in lithium chemical manufacturing and extraction, including hard-rock mining, conventional brine extraction, and direct lithium extraction. Currently, Arcadium Lithium has an annual production capacity of 75,000 tonnes of lithium carbonate equivalent and plans to more than double this output by 2028. The acquisition is expected to enhance Rio Tinto’s lithium capabilities in key markets such as Argentina and Quebec, with production capacity projected to increase by 130% within Rio Tinto’s existing geographies. Give your business an edge with our leading industry insights.
water
Feb 14, 2025
NS ENERGY
Greenheart Gold Expands Exploration Rights At Majorodam Project
Greenheart Gold has announced a substantial expansion of its exploration rights at the Majorodam project in Suriname. This expansion follows the completion of two separate agreements with distinct title holders. The original Majorodam project, which covered 99.85 square kilometres (sq. km.), has been extended by 60.78 sq. km. to the north and 90.86 sq. km. to the south, increasing the total project area to 251.5 sq. km. Additionally, the company has confirmed the arrival of a reverse circulation (RC) drill rig at the project site on 12 February 2025. Drilling operations have now commenced on the Heuvel target. Greenheart Gold has entered into an option agreement with an independent Surinamese company, securing the right to acquire a 100% interest in mineral rights covering over 6,000 hectares adjacent to the northern boundary of the Majorodam project. The newly acquired area has been designated as Majorodam North. The option agreement remains valid for 11.5 years and may be terminated by the Company at any time with 30 days’ notice and no further obligations. To exercise the option, Greenheart Gold must incur a minimum of $7.5m in project expenditures over the 11.5-year period, including at least $500,000 within the first 18 months. The company is also required to make annual option payments ranging between $200,000 and $300,000, and complete a feasibility study. Upon fulfilling these conditions, the company will acquire the mineral rights and grant the optionor a 2% net smelter return (NSR) royalty. Greenheart Gold will retain the right to repurchase 50% of this royalty at a price determined by the reserves reported in the feasibility study. Greenheart Gold has also amended its existing option agreement with the Majorodam title holder, adding an additional 9,086 hectares of mineral rights to the south of the original project area. This expansion, now referred to as Majorodam South, was acquired for a one-time payment of $65,000. The expansion follows encouraging results from Phase 1 and Phase 2 soil geochemical surveys. Both Majorodam North and Majorodam South are believed to be underlain by the same volcanic rock formations that host the Saramacca mine, located approximately 12km north of the project area. While an airborne magnetics survey has been conducted over Majorodam South, neither of the newly acquired areas has undergone modern exploration targeting potential hard rock gold sources. Significant gold-in-soil anomalies have been identified at the Heuvel and Helling targets, with mineralised trends extending northward towards Majorodam North. Additionally, areas of historical alluvial gold mining have been observed to the east and west of Majorodam North, focusing on drainages downstream from a volcanic ridge that extends southward to the Heuvel and Helling targets. The company’s next exploration steps for Majorodam North and South include prospecting, geological mapping, and Phase 1 geochemical surveys. At Majorodam, an RC drilling programme is underway, with an initial 1,500m programme of 100m-deep holes designed to test the Heuvel target. Greenheart Gold continues to advance exploration at Majorodam as it assesses the potential of the expanded project area. Give your business an edge with our leading industry insights.
water
Feb 14, 2025
NS ENERGY
Totalenergies To Supply Gspc With 400,000 Tons Of Lng Per Year From 2026
During a ceremony held in New Delhi on the sidelines of the India Energy Week, TotalEnergies and the Gujarat State Petroleum Corporation Limited (GSPC), a state-owned oil and gas company, announced the signing of a long-term Sale and Purchase Agreement (SPA) for a term of ten years starting in 2026. Under this agreement, TotalEnergies will supply GSPC with 400,000 tons of liquefied natural gas (LNG), amounting to six cargoes per year. The LNG, sourced from TotalEnergies’ global portfolio and delivered to terminals on India’s west coast, will primarily serve GSPC’s industrial customers. It will also supply Indian households for domestic use, businesses, and service stations for vehicles running on Compressed Natural Gas (CNG), such as auto-rickshaws. “We are delighted to have been chosen by GSPC to supply them with LNG in India. This new deal underscores TotalEnergies’ leadership in the LNG domain and commitment to India’s energy transition and security of supply”, said Gregory Joffroy, Senior Vice President LNG at TotalEnergies. “This agreement marks a major step towards reinforcing GSPC’s strategy to secure competitive LNG on a long-term basis, helping to bridge the growing natural gas demand-supply deficit in Gujarat and across India. Partnering with TotalEnergies, one of the largest LNG players in the world, aligns with GSPC’s strategy to build up its long-term portfolio and become a leading Indian player in gas trading”, said Milind Torawane, Managing Director at GSPC. “This deal will further strengthen GSPC’s portfolio and its operations in the gas value chain, leveraging GSPC Group’s transmission and distribution infrastructure.” In India, natural gas will play a pivotal role in the energy transition. As a cleaner alternative for industrial activities, cooking and transportation, it enhances air quality by reducing greenhouse gas emissions and pollution. Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Tomagold Announces 2025 Exploration Campaign Plans For Chibougamau Camp Projects
TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the “Company”) is pleased to announce the initial results of the ongoing compilation, synthesis and interpretation of the Company’s 14 projects in the Chibougamau Camp (the “Camp”). Key mineralized areas from each project have been reviewed and prioritized by the Company’s technical committee and external consultants from all known and potential new gold, silver, copper and zinc targets based on the historical database of each project, which includes over 70 years of historical exploration and mining in the Camp. Chibougamau Projects TomaGold’s Chibougamau portfolio consists of 14 mining projects (refer to Figure 1), including: David Grondin, President and CEO of TomaGold, commented: “With the arrival of Jean as VP Exploration of TomaGold, a whole new dynamic has emerged within our company. Jean, together with our technical team and external consultants, has put in place a plan and strategy to explore and develop our Chibougamau projects. These projects have been explored in the past, but with less advanced technology and at shallower depths, and are providing us with very useful data. We believe that given the Camp’s strong historical production base of copper and gold, our projects hold promising discovery potential that we intend to unlock for our shareholders.” “TomaGold has prime real estate in the Chibougamau Camp, which hosts gold, copper, silver and zinc mineralization in multi-directional veins and massive sulphide systems,” added Jean Lafleur, VP Exploration at TomaGold. “The Camp is dominated by NW-SE veins within the Doré Lake Intrusive Complex where a total of 19 deposits were mined from 1958 to 2008, yielding over 50 Mt at 2.21 g/t Au for 3.06 million ounces of gold and at 1.83% Cu for 2.1 billion pounds of copper. Currently, approximately 40 Mt of historical mineral resources at 1.16 g/t Au and 1.13% Cu with Ag-Zn credits remain1. In addition, mineralization occurs within the northern Abitibi Greenstone Belt segment of the Camp, providing strong potential for additional resources.” In 2025, TomaGold will focus on advancing exploration on its Chibougamau projects, with an immediate focus on Obalski, Berrigan and Radar, which are summarized below with work planned for 2025: Obalski Gold-Copper-Silver Project (100% TomaGold) The Obalski gold-copper-silver project (“Obalski”) is comprised of 75 claims covering 27 km2, one 85-metre shaft and two ramps. Obalski hosts nine separate Cu-Au-Ag mineralized zones – the A/A-Po, B, C, D, G, South, Beaulieu, Peninsula and Wilson Zones in the DLIC (refer to Figure 2). Historical mining yielded 110,300 tonnes at 2.08 g/t Au, 6.04 g/t Ag and 1.14% Cu from the combined A/A-Po Zone.2 More than 540 holes were drilled on the project for 78,000 metres. The historical drilling was done from surface to 150 m along the 800 m SE-NW 110° mineralized corridor anomalies of the A and B Zones, also defined by InfiniTEM anomalies. A perpendicular 020°-030° fault cuts the combined zones and adds an additional untested 500 m length that could host significant remobilized mineralization. Additional NE-SW 070° MegaTEM anomalies appear to define the D Zone mineralization off the A/A-Po Zone at the western end of the A and B Zones. Selected results from TomaGold’s 2020-2022 drill programs: Planned Exploration Program on the Obalski Project 1. Compilation: 2. Geological mapping: 3. Geophysical survey: SOQUEM Projects (Option to acquire 100% interest) In 2025, TomaGold will focus its exploration activities on the Radar, David and Dufault within its SOQUEM project portfolio. Radar Project (Au-Ag-Cu-Zn) The Radar project consists of 14 claims totaling 7.75 km2 located 3 km north of Chibougamau. The project contains the northern extension of the fracture system hosting the copper-gold structure of the Brosman deposit and the extension of a major E-W fault hosting the former Norbeau mine. An exploration ramp is present near the Belle-3 showing (BEL-7 hole: 15.9 g/t Au, 8.48 g/t Ag, 1.25% Cu over 2.25 m). The abundance of polymetallic showings (Au-Ag-Cu) and the numerous shear and fracture zones create excellent discovery potential for polymetallic vein deposits, orogenic gold and Cu-Ni-PGE ± Co. The property also has potential for VMS-type deposits in the felsic rocks of the second regional volcanic cycle. David Project (Au-Cu-Zn) The David project consists of 49 claims totaling 20.09 km2 located less than 2 km from Chibougamau. The project is characterized by several gold and zinc occurrences, most notably the Lac David and Lac Pierrot showings: The position of the project within a deformation corridor and over a transition zone between two volcanic cycles makes it a high-quality prospect for VMS-type mineralization. Dufault Project (Au-Cu-Zn) The Dufault project consists of 14 claims totaling 5.22 km2 located 5 km north of Chibougamau and has excellent potential for gold-copper porphyry mineralization. The MOP-II Deposit on the adjacent Roger property owned by SOQUEM and XXIX is hosted along the same horizon. Gold-bearing intervals in drill holes 1311-02-03 (0.12 g/t Au over 124 m) and 1311-09-08 (0.24 g/t Au over 193.4 m) suggest the presence of a potential large, mineralized zone whose boundaries have yet to be defined. Planned Exploration Programs on the Radar, David and Dufault Projects 1. Compilation: 2. Field work: 3. Geophysical surveys: 4. Drilling: CIM Option Projects (Option to acquire 100% interest) The priority target within the CIM claims is the Berrigan claim block under the Berrigan Mine project. The project consists of 16 claims totaling 4.83 km2 located 4 km N-NW of Chibougamau. The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled, Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1,388,915 tonnes of material grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine Zone. No resource classifications were given for the resource (Source: GM61359, Met-Chem, 2000). The mineral resource estimate above is historical and was not completed to NI 43-101 standards. The QP has not completed sufficient work to classify it as current. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the project can be classified as a current resource. The Company is not treating this as a current mineral resource. Historical drilling includes 306 diamond drill holes for 41,288 m completed by seven different companies between 1950 and 2022. Planned Exploration Programs on the Berrigan Projects 1. Compilation: 2. Geophysics: 3. Detailed surface mapping: 4. Bulk sampling – 1 tonne sample from underground workings of deposit 5. Examine possibility of open pit versus underground mining scenarios, leading to a feasibility study 6. Drilling: TomaGold’s technical team is already working on the compilation portion of its exploration program and intends to begin field work in the spring and continue until late fall of 2025. Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Ongc Ntpc Green To Acquire Ayana Renewable In $2.3Bn Deal
ONGC NTPC Green (ONGPL) has signed a share purchase agreement (SPA) to acquire Ayana Renewable Power in a deal valued at INR195bn ($2.3bn). The sellers of Ayana Renewable are National Investment and Infrastructure Fund (NIIF), British International Investment (BII) and its subsidiaries, and Eversource Capital. ONGPL is a 50-50 joint venture (JV) between ONGC Green (OGL) and NTPC Green Energy (NGEL). Established by BII in 2018, Ayana Renewable is a renewable energy platform with a portfolio of about 4.1GW of operational and under-construction assets across key resource-rich states in India. Ayana Renewable later secured investments from NIIF and Eversource Capital in 2019. The company has gone on to expand its portfolio to include solar, wind, and round-the-clock (RTC) projects. Its projects are backed by high-credit-rated off-takers, including the Solar Energy Corporation of India (SECI), NTPC, Gujarat Urja Vikas Nigam (GUVNL), and Indian Railways. BII managing director and Asia head Srini Nagarajan said: “BII launched Ayana in 2018 to catalyse India’s renewable energy sector. “Having mobilised over $1bn in capital alongside NIIF and Eversource, we are proud of Ayana’s achievements and excited for its future under ONGPL’s leadership.” Through the acquisition, ONGPL plans to leverage the clean energy platform’s existing infrastructure to scale its renewable energy footprint. The deal marks ONGPL’s first major investment since its establishment in November 2024. The move aligns with the net-zero ambitions of its parent companies ONGC and NTPC, which aim to achieve carbon neutrality by 2038 and 2050, respectively. ONGC Green CEO Sanjay Kumar Mazumder said: “The acquisition of Ayana is a strategic milestone in ONGC Green Ltd and NTPC Green Energy Ltd’s pursuit of a Clean Energy Revolution. “As two of India’s largest Maharatna PSUs, we recognise our responsibility in driving the nation’s green energy ambitions. This acquisition propels us forward in accelerating India’s transition to a low-carbon economy, leveraging our technical expertise, industry relationships, and financial strength.” The transaction remains subject to regulatory approvals and fulfilment of conditions precedent. In a separate announcement, ONGC signed a non-binding memorandum of understanding (MoU) with Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power, to explore joint opportunities in the battery energy storage system (BESS) value chain. The collaboration will focus on various applications in the BESS sector. Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Barrick Gold Reports 15% Gold, 33% Copper Output Growth In Q4 2024
Barrick Gold posted its fourth-quarter 2024 (Q4 2024) performance, with gold production rising by 15% and copper production increasing by 33% compared to the previous quarter. According to the company, its strong results have enabled it to meet its annual production guidance. The company also reported a 3% reduction in the gold cost of sales and a 5% decrease in total cash costs for Q4 2024. For the full year 2024, Barrick Gold’s net earnings surged by 69% to $2.14bn, while adjusted net earnings rose by 51% to $2.21bn. The company’s attributable earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 30% to $5.19bn, marking its highest level in more than a decade. Barrick Gold reported that its operating cash flow grew by 20% year-on-year (YoY) to $4.49bn, and free cash flow more than doubled to $1.32bn, driven by higher earnings. The company also met its production guidance in its North America and Africa as well as Middle East operations. However, in the Latin America and Asia Pacific regions, overall production fell slightly below target. This was due to a slower-than-expected ramp-up at the Pueblo Viejo gold and silver mine in the Dominican Republic, despite strong performance from the Veladero.gold mine in Argentina. Upgrades at the Pueblo Viejo mine are planned for 2025, including a 35-day shutdown in the first quarter to improve throughput and recovery. Barrick Gold also posted significant reserve additions, with attributable proven and probable gold mineral reserves increasing by 23% to 89 million ounces from 77 million ounces, before depletion. Attributable copper mineral reserves grew by 224% YoY to 18 million tonnes, with a 13% higher grade, following the completion of feasibility studies at the Lumwana and the Reko Diq mines. Barrick Gold president and chief executive Mark Bristow said: “During the fourth quarter, we made steady progress in ramping up operations at Pueblo Viejo, improving recovery, despite lower production on the back of a slight decrease in grade. “At Veladero and Nevada Gold Mines, we boosted production and we closed the gaps at Kibali while strengthening the management team there.” For 2025, Barrick Gold expects attributable gold production of 3.15–3.5 million ounces, excluding output from the Loulo-Gounkoto mine in Mali, which remains suspended. The company’s attributable copper production is projected to rise from 195,000 tonnes in 2024 to between 200,000 and 230,000 tonnes, driven by higher output at the Lumwana mine. The company has reportedly confirmed that operations at its Loulo-Gounkoto mine will resume once authorities grant approval for gold shipments to restart. Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Chevron To Cut Up To One-Fifth Of Global Workforce Amid Cost-Saving Measures
Chevron will reduce its global workforce by 15% to 20% by the end of 2026 as part of a broader strategy to streamline operations and reduce costs. The decision follows operational challenges, rising project expenses, and a pending $53bn acquisition of Hess, which was announced in October 2023. Chevron had a workforce of over 40,000 people at the end of 2023, across its global operations, reported Reuters. A 20% workforce reduction would translate to approximately 8,000 positions, excluding the 5,400 employees working at Chevron service stations. The US-based oil and gas company has outlined a plan to achieve up to $3bn in cost reductions by 2026, leveraging technology, asset divestments, and organisational restructuring. Chevron continues to face operational and financial hurdles, including rising costs and project delays at its Tengiz oilfield in Kazakhstan, where the company has been working to expand production. The project, one of its most significant upstream investments, has encountered budget overruns and timeline setbacks, contributing to broader cost-cutting pressures. At the same time, Chevron’s acquisition of Hess remains in legal uncertainty. This is because of ExxonMobil disputing Hess’s ability to transfer its 30% stake in Guyana’s Stabroek oil block. ExxonMobil, which operates and holds a 45% share in the offshore field, has argued that it retains preemptive rights over any sale, delaying Chevron’s efforts to expand its presence in one of the world’s most promising oil regions. Chevron vice chairman Mark Nelson, has been quoted by the news agency, as saying: “Chevron is taking action to simplify our organizational structure, execute faster and more effectively, and position the company for stronger long-term competitiveness. We do not take these actions lightly and will support our employees through the transition.” According to a source having knowledge with the matter, Chevron has informed employees that voluntary buyout options will be available until April or May. The company is also expected to announce a revised leadership structure within two weeks as part of its reorganisation. Towards the end of last month, Chevron released the financial results for Q4 2024, which reflected the impact of weak refining margins, as gasoline and diesel profitability declined. The refining segment posted a quarterly loss, marking its first negative performance since 2020. Chevron reported $3.2bn in net income for Q4 2024, up from $2.3bn in the same period the previous year. The results included $715m in severance charges and $400m in impairment costs, while foreign currency adjustments contributed $722m to earnings. On an adjusted basis, earnings for the quarter totalled $3.6bn, down from $6.5bn in Q4 2023. Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Uk Government Backs Offshore Wind Developers With Clean Industry Bonus
Industrial heartlands and coastal regions are set to receive a significant economic boost as the UK government supports renewable energy firms investing in industrial communities. This initiative aims to create skilled jobs as part of the government’s Plan for Change. The application window has now opened for the Clean Industry Bonus, a financial incentive for offshore wind developers that prioritise investment in key regions, including traditional oil and gas communities. The initiative is designed to support highly skilled roles such as engineers, electricians, and welders. The scheme also rewards developers that establish low-carbon manufacturing facilities, including offshore wind blade and cable production sites, as well as port infrastructure. By promoting more sustainable industrial practices, the initiative seeks to lower emissions across the clean energy supply chain. By encouraging offshore wind developers to source materials from less polluting suppliers, the bonus will help reduce industrial emissions and address supply chain disruptions in renewable technologies. The UK is currently the largest producer of offshore wind power in Europe, positioning it at the core of the government’s strategy to establish a fully clean power system by 2030. The Clean Industry Bonus aims to accelerate renewable energy deployment by incentivising infrastructure development that reduces dependence on volatile fossil fuel markets and contributes to long-term energy affordability. Since July, the UK government has secured £34.8bn in private investment for clean energy projects. In November, the government launched its carbon capture and storage (CCS) industry, expected to create 4,000 jobs in the North West and Teesside. Meanwhile, ScottishPower awarded a £1bn turbine contract for its East Anglia TWO offshore wind farm to Siemens Gamesa, which will manufacture blades at its Hull facility, employing over 1,300 people in Humberside. The UK is home to the world’s first floating offshore wind farm and leads Europe in offshore wind deployment, supporting thousands of highly skilled jobs nationwide. The Clean Industry Bonus follows last year’s record-breaking renewables auction, which secured contracts for the largest and second-largest offshore wind farm projects in Europe. The funding structure includes an initial allocation of £27m per gigawatt of offshore wind capacity. If developers commit to 7–8 GW of projects, up to £200m in government funding could be made available. Funding will be awarded through a competitive process, with successful applicants announced by the Energy Secretary in the summer. UK Energy Secretary Ed Miliband said: “We are backing our proud manufacturing, coastal and oil and gas communities with good jobs, skills and private sector investment – delivering on the government’s Plan for Change. “This is our clean energy superpower mission in action, kickstarting growth, delivering energy security and transforming towns and cities as part of the transition – from the ports of Nigg and Leith to the manufacturing hubs of Blyth and Hull.” Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Mitsubishi Power Secures Major Gas Turbine And Services Order For Al Wahda Open Cycle Gas Turbine Power Plant In Morocco
Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), announced today that it has won a major order in Morocco to supply two M701JAC gas turbines and auxiliary equipment for the Al Wahda Open Cycle Gas Turbine Power Plant owned and operated by The National Office of Electricity and Drinking Water (ONEE). The Al Wahda Power Plant, located near Al Wahda Dam in the Province of Ouazzane in the north of Morocco, will play a crucial role in stabilizing the Moroccan national grid. This peaker power plant will integrate with the country’s growing renewable energy resources, providing rapid response to grid fluctuations and ensuring continuous, reliable power supply. Once operational, the plant’s two gas turbines will generate a combined 990 MW, representing nearly 7% of Morocco’s national grid capacity. The agreement was signed in Rabat at ONEE’s Headquarters, in the presence of ONEE CEO Mr. Tarik Hamane and a senior delegation from Mitsubishi Power attended by Mitsubishi Power EMEA President and CEO Javier Cavada and MENA President Khalid Salem alongside a senior delegation from the project’s consortium partner, China Energy Engineering Corporation Limited (CEEC). Mitsubishi Power’s state-of-the-art M701JAC gas turbines, which are capable of co-firing hydrogen with natural gas, with industry-leading reliability and high efficiency rate, will support Morocco’s long-term sustainability objectives by offering flexibility for future decarbonization. In addition, the Al Wahda Power Plant will play a pivotal role in stabilizing Morocco’s national grid as the country continues to increase its share of renewable energy year by year. The plant is designed to operate with maximum availability, providing continuous power output to meet the country’s growing energy demands and contributing to goal of reaching more than 52% renewable energy in the electricity mix by 2030. Mitsubishi Power’s advanced gas turbines, which can handle rapid load variations and frequent start-ups and shutdowns, will ensure grid reliability without compromising the integrity of the equipment. This capability is vital as Morocco eyes additional integration for more intermittent renewable energy sources into its energy mix, further supporting the country’s long-term energy strategy and sustainability goals. The Al Wahda Power Plant is expected to begin operation in 2027. In addition, Mitsubishi Power signed a long-term service agreement with ONEE for the provision of parts, repairs and services, to ensure high availability and sustained reliability of the equipment. Mr. Tarik Hamane, Chairman of The National Office of Electricity and Drinking Water (ONEE), said: “The Al Wahda Power Plant is a vital step in our energy strategy and through our partnership with Mitsubishi Power, we are pleased to harness the efficiencies and benefits of the company’s gas turbine technology to drive operational excellence and sustainability. We are happy to partner with Mitsubishi Power on this project, as their cutting-edge technology will ensure that we meet our growing energy demands while integrating more renewable energy into the grid.” Mr. Lyu Zexiang, President of China Energy International Group Corporation Limited (CEIG), a subsidiary of China Energy Engineering Corporation Limited (CEEC), commented: “We are excited to partner with Mitsubishi Power for the Al Wahda Power Plant, a landmark project. By utilizing cutting-edge technology, we are confident that the plant will deliver reliable and efficient power, establishing new benchmarks in both operational excellence and sustainability. Together, we are committed to delivering a power plant that will serve as a cornerstone for Morocco’s energy future, ensuring stable and reliable electricity for years to come.” Javier Cavada, President and CEO, Europe, Middle East and Africa at Mitsubishi Power, commented: “We are proud to partner with The National Office of Electricity and Drinking Water (ONEE) and CEEC on this milestone project that underscores our commitment to advancing the Kingdom of Morocco’s energy infrastructure. As the country continues its bold journey towards increasing the share of renewable energy in its grid, the Al Wahda Power Plant will serve as a cornerstone in ensuring grid stability and reliable power generation. Our state-of-the-art M701JAC gas turbines, renowned for their efficiency and durability, will deliver continuous, dependable power even under the most demanding conditions, adapting seamlessly to the dynamic needs of the grid. This collaboration not only reinforces our dedication to delivering cutting-edge, hydrogen-ready solutions but also marks a significant step forward in supporting Morocco’s broader vision for a sustainable, resilient energy future. We are excited to continue accelerating our ability to deliver clean, reliable and efficient power generation solutions that support our customers in powering the lives of communities in Morocco and across the region.” The Al Wahda Power Project marks a significant milestone in Morocco’s energy journey and reinforces Mitsubishi Power’s dedication to advancing clean, efficient power generation across the MENA region. Give your business an edge with our leading industry insights.
water
Feb 13, 2025
NS ENERGY
Entergy, Kinder Morgan Ink Natural Gas Transport Deal To Support Southeast Texas Growth
Entergy Texas has signed a natural gas transportation agreement with Kinder Morgan, a move aimed at securing a stable energy supply to meet the increasing industrial, commercial, and residential growth in Southeast Texas. The agreement, developed in collaboration with Golden Pass LNG, is part of Kinder Morgan’s $1.7bn Trident Intrastate Pipeline project. The Trident Intrastate Pipeline, spanning approximately 348km, will transport natural gas from the Permian Basin and other supply sources at the Katy Hub to the LNG and industrial corridor near Port Arthur, Texas. The project is designed to enhance natural gas distribution to areas experiencing supply constraints, providing additional capacity to meet growing regional energy demands. Entergy Texas president and CEO Eliecer Viamontes said: “This strategic partnership demonstrates our commitment to delivering long-term value for our customers and communities. “The agreement also serves as a critical component for our Southeast Texas Energy Plan (or STEP Ahead plan). By securing a reliable and sustainable fuel supply, we are building the foundation for a stronger energy future.” By accessing natural gas through the Katy Hub, Entergy Texas aims to reduce fuel procurement costs, with the savings expected to be passed directly to customers. The transportation agreement also ensures a consistent natural gas supply for Entergy Texas’ proposed Legend and Lone Star power stations, which are intended to address rising electricity consumption in Southeast Texas. Additionally, the new pipeline infrastructure will support operational flexibility across Entergy Texas’ power generation facilities. This includes its Spindletop underground natural gas storage caverns, which play a role in maintaining energy supply reliability during peak demand periods. Kinder Morgan announced in January 2025 that it would proceed with the Trident Intrastate Pipeline project, supported by long-term contractual commitments. The pipeline is expected to transport approximately 1.5 billion cubic feet of natural gas per day, with provisions for expansion up to 2.8 billion cubic feet per day based on future demand. Subject to obtaining the necessary regulatory approvals and permits, the project is scheduled to commence operations in the first quarter of 2027. Kinder Morgan natural gas president Sital Mody said: “We believe our Trident Intrastate Pipeline project is critical to meeting rising power, industrial and LNG demand in Texas and are excited to work with Entergy Texas and Golden Pass LNG as we continue to provide reliable and affordable energy solutions to the state.” Give your business an edge with our leading industry insights.
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Feb 12, 2025