The Government of Malawi has disclosed that the 300 MW Kam’mwamba coal-fired power plant project is being financed with a US$667 million loan from the Export-Import (Exim) Bank of China. The government are developing the project in partnership with China Gezhouba Group, a subsidiary of China Energy Engineering Corporation.
Fossil-fuel Power News
Indonesia’s state-owned diversified energy company PT Pertamina and Bangladesh Power Development Board (BPDB) have signed a memorandum of understanding (MoU) to develop an integrated gas project, comprising of a combined cycle gas turbine (CCGT) power plant with installed capacity of 1400 MW and a floating, storage and regasification unit (FSRU). The estimated total investment is US$2 billion.
Sasol Limited and Electricidade de Moçambique (EDM) have successfully refinanced the Central Térmica de Ressano Garcia S.A. (CTRG) joint venture project, a 175 MW gas-fired power plant in Mozambique. EDM holds a 51% stake in the project, with Sasol holding the remaining 49%.
Dubai’s Electricity and Water Authority (DEWA) has announced plans for Phase III of the Hassyan clean coal power plant. The authority began tendering for advisers in late December, seeking advisory services for the development of the project, which is to be developed by an independent power producer.
It has been reported in local newspapers that the Myingyan combined-cycle gas turbine power plant has begun generating 143 MW feeding into Myanmar's National Grid. Sembcorp Industries, through the Sembcorp Minygyan Power Company Limited, signed a 22-year build-operate-transfer (BOT) agreement for the project with the Ministry of Electricity and Energy of Myanmar in January 2017.
Dominion Energy, Inc. and SCANA Corporation have announced an agreement for the companies to combine in a stock-for-stock merger. Including assumption of debt, the value of the transaction is approximately $14.6 billion.
A consortium of eight international banks has signed a financing agreement for the Delimara 4 power plant project in Malta. The consortium is comprised of Bank of Valletta, BNP Paribas Fortis, Credit Industriel et Commercial, DZ Bank AG, HSBC Bank Malta, KFW-IPEX Bank, Natixis Bank and Societe General. The package amounts to EUR450 million (US$540 million).
GNPower Dinginin Ltd. Company (GNPD) has reached financial closing for the second generator of the $1.7-billion supercritical coal-fired power plant in Bataan, in the Central Luzon region of the Philippines. GNDP is owned by the Ayala group subsidiary AC Energy Holdings Inc. (50%) and Therma Power Inc., a unit of Aboitiz Power Corp. (50%).
The Asian Development Bank’s (ADB) Board of Directors has approved debt financing and partial risk guarantees totaling US$583 million to develop the Reliance Bangladesh Liquified Natural Gas (LNG) and Power Project.
The Abraaj Group announced it has invested in a 111 MW natural gas-fired power plant in Chihuahua, Mexico. The investment represents the first phase of Abraaj’s plan to develop a 500 MW natural gas-fired power generation platform in the country.
Quinbrook Infrastructure Partners, a global investment manager specializing in lower carbon and renewable energy infrastructure, has acquired an 84 MW gas-fired power project portfolio located across four sites in England and Wales.
The Vietnam Ministry of Industry and Trade (MOIT) has signed a contract with Marubeni Corporation and Korea Electric Power Company to develop the 1200MW Nghi Son 2 coal-fired power project in Thanh Hoa Province, in the north of Vietnam.
Iberdrola has decided to complete the process of phasing out all its coal-fired power generation capacity worldwide. The technology represents 1.8% of the group's total installed capacity of 48,062 MW and 1.5% of its electricity production for the first nine months of the year (1,596 GWh out of 102,494 GWh).
The Ministry of Energy and Mining, under a Resolution of the Ministry of Electric Power No. 926/2017, has awarded nine projects for a total of 1,304 MW.
China Power Hub Generation Company's 1,320 MW coal power plant in Pakistan has secured US$1.5 billion financing with a consortium of Chinese banks, being led by China Development Bank and Exim Bank of China.
PT Medco Energi Tbk (MEDC) has agreed to acquire 77.68% shares of PT Saratoga Power. PT Saratoga Sentra Business and S Asia III Luxembourg S.A.R.L are the sellers for the acquisition of 784,840 shares in PT Saratoga Power representing 77.68% of all subscribed and paid up capital in PT Saratoga Power.
Africa50, the infrastructure fund for Africa, signed a development agreement with Senelec, Senegal’s electricity provider, for competitive selection of a strategic sponsor to develop a 120 MW combined cycle thermal power plant at Malicounda.
The African Development Bank (AfDB) is mulling to fund the development of Kenya’s first coal-fired power plant. The bank is awaiting the environmental and social audits before they can release the funds.
The Chinese government has approved the creation of the world’s largest power company. China has given green light to the merger of electricity producer China Guodian and coal company Shenhua Group.
China-based solar project developer ReneSola Ltd has announced it has secured an RMB120 million (US$18 million) financing facility from China Kangfu International Leasing Co., Ltd, an affiliate of State Power Investment Corporation (SPIC).