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Yingli Green Energy plans to participate in Dubai’s 100MW solar park project

Yingli Green Energy plans to participate in Dubai’s 100MW solar park project

Chinese solar panel manufacturer Yingli Green Energy is planning to participate in Dubai’s 100MW solar park project, as part of the company’s expansion plans in the Middle East and Africa in 2014.

The company is looking to expand its business in emerging markets such as the UAE, Saudi Arabia, Jordan, Egypt, Qatar, Kuwait, Pakistan, Nigeria and others.

The National cited Yingli Green Energy managing director Dimitirios Bachadakis as saying that the company will bid on Dubai’s independent power plant (IPP) project.

“There is a huge move towards solar energy in Saudi Arabia, Oman and the UAE to name just a few,” Bachadakis said.

As part of the plan to diversify its energy mix by 2030 in the UAE, the state utility Dubai Electricity and Water Authority (DEWA) has issued a tender for the solar park project, with the deadline on 5 July 2014.

The tender for the solar part forms part of the AED1bn 1,000MW Mohammad bin Rashid Al Maktoum Solar Park project.

Yingli executive director Middle East Evangelos Lianos was quoted by Reuters as saying, “It is either we will partner with other companies together and then will submit our bid, or it might be that our strategy is we will support this project with services to the participating companies.”

Currently, DEWA is negotiating with other partners and governments to equip large-scale solar installations in the region.

Posted in Alternative Energy, Business, Solar Energy0 Comments

Sunlabob and Relitec  partnership aimed at Myanmar’s growing solar market.

Sunlabob and Relitec partnership aimed at Myanmar’s growing solar market.

Rural off-grid renewables specialist Sunlabob Renewable Energy and sustainable energy firm Relitec have announced a partnership agreement aimed at Myanmar’s growing on-site solar market.

Laos-based Sunlabob and Yangon, Myanmar-based Relitec said they plan to collaborate on addressing Myanmar’s growing demand for renewable energy.

According to estimates, less than 30% of the nation’s 60 million people have access to grid-connected electricity, and only 4% of the rural population has electricity.

Sunlabob offers on- and off-grid products and services ranging from hybrid mini-grids and solar home systems to energy efficiency consulting. Relitec specialises in the engineering, installation, and operation and maintenance of solar projects, and has implemented a number of solar projects in Myanmar.

Andy Schroeter, Sunlabob’s CEO, said, ‘Sunlabob’s experience implementing rural, off-grid renewable energy throughout the developing world will complement Relitec’s on-the-ground knowledge of the local Myanmar market.’

‘Myanmar is just seeing the tip of the iceberg for solar energy’s potential,’ said Than Aye, Relitec’s managing director. ‘We are excited to be well-positioned to meet the upsurge of solar activity.’

Posted in Business, Renewable Energy, Solar Energy0 Comments

DMS Offshore Investments to create 50 new jobs in Dublin

DMS Offshore Investments to create 50 new jobs in Dublin

The world’s largest fund governance firm DMS Offshore Investment Services is to create 50 new jobs in Dublin at its new European operations centre.

The company intends to create 50 new roles in fund governance and risk management as part of an investment supported by the Government and IDA Ireland.

DMS established its Dublin office in 2008 to provide fund governance services to fund promoters, taking advantage of Ireland’s status as a globally recognised international financial services centre with a highly skilled and educated work workforce.

In 2012, the firm added a Management Company service to assist promoters who needed to comply with the Alternative Investment Fund Managers Directive (AIFMD).

AIFMD is an EU directive which will bring enhanced governance and monitoring of EU-domiciled Alternative Investment Funds (AIFs) and non-EU Alternative Investment Funds (AIFs) being marketed to European investors. The new legislation comes into full effect on July 22, 2014.

“AIFMD ushers in a broad new set of regulatory and compliance requirements for EU domiciled funds and for non-EU fund managers who wish to access European capital,” said Derek Delaney, DMS managing director for Europe.

“The directive is complex and there are aspects of its implementation that may vary across different European countries.

“DMS has developed solutions that meet the needs of both investors and regulatory authorities, and we have seen significant growth in the demand for our services, as a result. We are expanding our team in Ireland to meet this demand.”

In January 2014, the Central Bank of Ireland approved DMS AIF Management Company, which, along with the firm’s proprietary AIF Platform, offers solutions to fund managers and investors to facilitate their continued access to the AIF market.

More recently, the Central Bank also approved the company’s AIFM passporting application to Luxembourg, paving the way for DMS AIF Manager to be appointed as an AIF Manager to Luxembourg AIFs.

Among the expanded team in Dublin is a group of risk management professionals, who independently analyse each AIF’s risk analytics and provide customised reports, through DMS Risk Management Solutions.

The risk team is headed by Jason Poonoosamy, a Chartered Financial Analyst, who has served as Head of Product Management in the global risk and analytics division of a major international bank. The compliance division is also being strengthened with the recruitment of a senior risk associate to join the firm this summer.

Posted in Business0 Comments

Westinghouse wins Vattenfall nuclear fuel deal

Westinghouse wins Vattenfall nuclear fuel deal

Westinghouse Electric Co has been selected by Vattenfall Nuclear Fuel in Sweden to provide replacement nuclear fuel deliveries and engineering services for three of its reactors.

The contract is for yearly deliveries between 2016 and 2019 to Forsmark 3, Ringhals 3 and Ringhals 4 (pictured)

The contract includes yearly deliveries of fuel for the threereactors during a four-year period (2016 to 2019).

Johan Hallén, Westinghouse vice-president and managing director for northern Europe, said. “The market for nuclear fuel assemblies is very competitive with suppliers from Germany, the US, Korea, Japan and Spain providing finished fuel to similar reactors. Vattenfall’s commitment to Swedish engineering and manufacturing helps Westinghouse compete on a global scale, ensuring a strong domestic industry employing thousands in Sweden.”

Forsmark 3 is a boiling water reactor designed and built by ASEA-ATOM, which was acquired by Westinghouse in 2000. Ringhals 3 and 4 both are pressurized water reactors, designed and built by Westinghouse.

Posted in Business, Nuclear Energy0 Comments

Russia signs $400bn gas supply contract with China

Russia signs $400bn gas supply contract with China

Russia-based Gazprom has signed a contract worth $400bn (€292bn) with China National Petroleum Corp (CNPC) to supply natural gas.

Under the contract, Gazprom will supply 38 billion cubic metres of gas annually to CNPC for a period of 30 years.

The gas will be supplied through a pipeline from Russia to China via the eastern route, which is estimated to start in 2018.

Gazprom will be responsible for gas field development and construction of the gas processing plants and pipeline sections in Russia.

Meanwhile, CNPC will be responsible for the building pipeline sections, gas storages and other supporting facilities in China.

CNPC said that the major gas sources will be Kovyktinskoye in the Irkutsk region and Chayandinskoye in Yakutia.

Gazprom management committee chairman Alexey Miller said Russia and China have signed the biggest contract in the entire history of the USSR and Gazprom – more than 1 trillion cubic meters of gas will be supplied during a whole contractual period.Russian gas will be sold at a brand new market with a huge potential.

Miller said, “The arrangement of Russian pipeline gas supplies is the biggest investment project on a global scale. $55bn will be invested in the construction of production and transmission facilities in Russia.

“An extensive gas infrastructure network will be set up in Russia’s East, which will drive the local economy forward. Great impetus will be given to entire economic sectors, namely metallurgy, pipe and machine building.”

Gazprom and CNPC have signed the agreement that came after more than a decade of negotiations, which were repeatedly stalled over the price.

The contract was signed in the presence of Russian president Vladimir Putin and Chinese president Xi Jinping.

Posted in Business, Fossil Fuels0 Comments

UK Green Investment Bank aims to spend $1.2 billion this year

UK Green Investment Bank aims to spend $1.2 billion this year

The U.K. Green Investment Bank aims to boost the capital it commits to carbon-cutting projects to 700 million pounds ($1.2 billion) this year as it chases deals in offshore wind, waste and energy efficiency.

The bank, capitalized with 3.8 billion pounds of government funds, allocated 668 million pounds to clean-energy projects in the year through March, Chief Executive Officer Shaun Kingsbury said today in a telephone interview. That’s up from 635 million pounds the previous year, though the bank only began operations in November 2012.

“I’d hope for more than 700 million for the financial year we’re in, but it’s not about allocating capital; it’s about the quality of the projects,” he said. It will take another “two to three years at least” to commit the full 3.8 billion pounds.

The bank was set up by the government to spur spending in renewables, using its own cash to leverage further funding from private companies. Kingsbury said that progress so far indicates every pound the bank commits has leveraged almost another three, with 3.3 billion pounds of private money flowing from the 1.3 billion pounds he’s allocated so far.

“Our investment levels were up, our green impact was up, and much more of that is direct investment,” Kingsbury said, referring to last year’s performance. He said he’s working on some offshore wind deals that he hopes to announce this year, and waste-to-energy and biomass plans that may be announced as soon as next quarter. He didn’t disclose further details.

‘Chunky Transactions’

Offshore wind is “always going to be a big portion of our capital, probably our biggest sector,” Kingsbury said. “These are very large, chunky transactions, usually more than 100 million pounds.”

Offshore wind, waste and energy efficiency are the bank’s three core areas, to which it aims to commit 80 percent of its funds. In the energy-efficiency sphere, Kingsbury said he’s trying to persuade more councils and local authorities to take advantage of loans from the bank to switch old sodium street lamps to energy-efficient LEDs.

“We could cut both emissions and the costs by 70 to 80 percent with existing technology,” Kingsbury said. Those loans are “sculpted so that you always pay back the interest and capital out of the energy savings you’ve made. So it’s light at the front and the repayments get back-ended and heavier at the end when you’re saving more and more money.”

Posted in Business, Green Energy0 Comments

Sheffield Forgemasters joins Wales Tidal Industry Advisory Board

Sheffield Forgemasters joins Wales Tidal Industry Advisory Board

Sheffield Forgemasters has become the first manufacturer outside Wales to join a best-in-class consortium on the Wales Tidal Industry Advisory Board.

The heavy engineering specialist accepted the invitation from the board, which is working to maximise the potential of a new tidal lagoon industry in Wales.

The board, established earlier this year is made up of senior business owners and directors in Wales. It opened its ranks to include representatives from skilled suppliers across the UK who can make critical components to support the proposed Swansea Bay Tidal Lagoon project.

Gareth Barker, managing director of Sheffield Forgemasters’ forgings division, will take a seat on the board.

Forgemasters, the first non-Welsh board member, has a history of manufacturing specialist cast and forged components for power generation including hydro electric, oil and gas, thermal and nuclear power plant projects across the globe.

Graham Honeyman, chief executive of Sheffield Forgemasters, said: “The UK has the facilities, and the companies, capable of some of the most technically advanced design and manufacture of engineered components in the world, and the Swansea Bay project can utilise those skills and services.

“Swansea Bay is one of the most exciting projects in British engineering and a positive step forward in the UK’s need to broaden its power generating capacity. “

Group chair Roger Evans MBE said: “Working with Tidal Lagoon Power Limited, the development company behind the proposed Swansea Bay Tidal Lagoon, we want to see a minimum 50% of Welsh and 65% UK content for the first tidal lagoon. Our work to date proves that here is a world class cluster of manufacturing, assembly and construction businesses in Wales capable of creating a supply chain for Swansea Bay Tidal Lagoon and a further five tidal lagoons across the United Kingdom.

“We are now reaching out to other suppliers throughout the UK to invite them to help us to ensure that we can meet the self-imposed 65% UK content benchmark and will be reviewing the Group on a regular basis to ensure that all interested parties are able to contribute to this exciting opportunity.

Development Director for Tidal Lagoon Power, Ioan Jenkins added: “This working group represents a best-in-class consortium of UK and international industrial businesses to establish production facilities and supply chains to serve Tidal Lagoon Swansea Bay and future developments.

“The response has been fantastic over the last few months with many leading industrial businesses asking to get involved to demonstrate the skills, experience and capacity that they have to deliver critical components including manufacturing stages related to turbine fabrication, assembly, machining, forging, casting and coating. Indeed, we are in discussion with DavyMarkham, Goodwin International, Cammell Laird and Harland Wolff.”

A report on the economic potential of Swansea Bay Tidal Lagoon was published by the Welsh Economy Research Unit at Cardiff University in December 2013. It estimates that Swansea Bay Tidal Lagoon will generate a £300 million spend, 1850 jobs and £173 million GVA within the three year development phase.

Posted in Business0 Comments

Brookfield acquires remaining 67% of Pennsylvania’s 413-MW Safe Harbor hydropower project

Brookfield acquires remaining 67% of Pennsylvania’s 413-MW Safe Harbor hydropower project

Brookfield Renewable Energy Partners L.P. and its institutional partners have entered into an agreement to acquire the remaining interest in the 417-MW Safe Harbor hydropower plant.

The US$613 million deal will see Brookfield assume control of the remaining 67% share from a wholly-owned subisidary of the Exelon Corporation. Brookfield acquired the previous 33% in February.

“We are pleased to be acquiring the remaining interest in Safe Harbor,” Brookfield president and CEO Richard Legault said. “This investment is consistent with our strategy of owning and operation high-quality, renewable assets in power markets with attractive long-term fundamentals.”

The deal will be funded through available liquidity and capital from Brookfield (NYSE: BEP) and its partners. The company said it expects a portion of the purchase price will be refunded with non-recourse, fixed-rate financing.

The transaction is subject to regulatory approval and is expected to be completed within the third quarter of this year.

Located on Pennsylvania’s Susquehanna River, Safe Harbor is one of the largest hydropower plants in America’s northeast.

Brookfield Renewable announced in 2013 that it had acquired a 70 MW portfolio in Maine and the remaining 50% interest in California’s 30-MW Malacha project.

Posted in Business, Hydroeletric Energy0 Comments

Duke Energy Carolinas to build 750MW natural gas plant in South Carolina

Duke Energy Carolinas to build 750MW natural gas plant in South Carolina

Duke Energy Carolinas will build and operate a natural gas-fired combined cycle plant in South Carolina, US.

The 750MW power plant will be built at the existing Lee Steam Station site in Anderson County.

The North Carolina Electric Membership Corporation will own 100MW of the project.

Recently, the Public Service Commission of South Carolina approved the plant and the company has now decided to move ahead with construction activities.

The decision to move forward with this project is part of a comprehensive, long-term plan to add new generation, modernise the fleet, maintain a diverse fuel portfolio and manage customer costs while delivering a high-quality, reliable power supply.

Duke Energy South Carolina state president Clark Gillespy said that natural gas-fired combined cycle plants are a good match to meet the significant energy needs of the company’s customers over the next 15 years, and are expected to be an important part of the future Duke Energy Carolinas generation portfolio.

“They are very efficient in the production of electricity using natural gas as fuel and have very low plant emissions, Gillespy said.

Construction is expected to begin in 2015 and will come online in November 2017. Currently, the company is in the process of procuring equipment.

“The Lee site is a great location for a combined cycle plant. Duke Energy will be able to leverage existing site infrastructure to minimise new generation project costs and impacts to the community and environment,” Gillespy added.

The project will create around 500 jobs during the construction period, with approximately 25 full-time employees to operate the plant once it is online.

Anderson County Council Chairman Tommy Dunn said: “Anderson County has a long, successful history with Duke Energy. Today we celebrate Duke Energy’s latest investment in our community, which will bring quality jobs for our residents. We are grateful to Duke Energy’s leadership for choosing our county for this project and for continually shaping the future of the Upstate.”

Posted in Biogas Energy, Business0 Comments

Toyota to invest $27m in Canadian CHP project

Toyota to invest $27m in Canadian CHP project

Toyota Motor Manufacturing Canada is investing $27 million in a cogeneration power system in its motor manufacturing plant in Ontario.

They expect the development will significantly reduce its energy use and demand on the power grid once completed in 2015, the company announced midweek.

Ian Miles, president at Cambridge and North Dumfries Hydro, the utility that Toyota worked with in planning the project, described it as “one of the largest energy-saving initiatives inOntario.”

Toyota said it also will build a greenhouse that will use heat produced by the cogeneration project to grow vegetables for local non-profit organizations.

The auto maker has been producing vegetables along with cars for a number of years now through a Giving Garden project that was inspired by a Toyota worker in Japan who was also a gardener.

It is estimated that the cogeneration project will reduce emissions and save enough energy to power more than 7,400 homes every year.

Posted in Business0 Comments

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