The power industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
250MW
Vestas subsidiary Steelhead Americas has sold a 250MW wind project to an unnamed buyer.
$71m
Balfour Beatty has won a $71m cabling works contract for the London Power Tunnels II project.
10 years
Adani plans to invest $20bn into the renewables sector over the next decade.
5
Ørsted plans to invest around $16bn into five offshore wind projects, pending approval from Crown Estate Scotland.
30%
SSE Renewables plans to combine two offshore wind farms into a ‘super’ project, increasing Scotland’s renewables capacity by 30%
Project updates
Aramco has finalised definitive agreements to acquire and offer project financing for a $12bn gasification and power joint venture in Jazan Economic City, Saudi Arabia, alongside Air Products ACWA Power and Air Products Qudra.
Neoen has reached financial close for its A$370m ($269m) Kaban Green Power Hub project in Far North Queensland, with funding provided by lenders including BNP Paribas.
Wärtsilä and the Gabon Power Company have signed a concession agreement with the Government of Gabon to develop, supply, build, operate and maintain a 120MW gas power plant.
Durapower has signed a memorandum of understanding with two technology firms, Pozbud and Elmodis, to build a battery manufacturing plant in Poland, with an annual production capacity of 2GWh.
Renera has signed an agreement with the Kaliningrad Government to build a manufacturing facility in Russia’s Western exclave region, to produce energy storage systems and lithium-ion cells.
Further reading
UK gas price crisis: the consumer price comparisons with nothing to compare
While UK energy utilities near breaking point over the price of wholesale gas, the next phase of the crisis will hit consumers.
Utility companies cannot currently pass on rising gas costs to consumers because of a price cap set by regulator Ofgem. Consumer rights bodies have warned over recent months that energy bills will likely rise with the tariff cap, which is set to rise to 12% to its highest point since the introduction of caps in January 2019.
Price comparison services have also struggled during this period, with many sites offering just four results for consumers, as opposed to the 20 they could usually expect.
Read more: Power Technology
