ABB, the Zurich-based power and automation technology group, has won orders worth over $300 million to construct two new ultra-high-voltage direct current (UHVDC) power transmission links in China.
The International Energy Agency (IEA) has reported that renewable energy will represent the largest single source of growth in power generation over the next five years, as a result of falling costs and aggressive expansion in emerging economies.
GE Power & Water has announced that it will cease production of large gas engines at Waukesha, Wisconsin in the USA, and transfer production to a new $265 million plant it will build in Canada.
The Japanese Industry Ministry is considering limiting each utility’s coal-fired power generation to around 50 per cent of its total fossil fuel energy output, according to sources within the Ministry.
George Osborne, Chancellor of the Exchequer of the UK, has announced that the UK government will make a fresh investment in the £24.5 billion Hinkley Point C nuclear power project.
GE has revealed plans to shift up to 500 US manufacturing jobs to Europe and China because it can no longer access EXIM financing from the US Export-Import Bank.
The planned Hinkley Point C Nuclear Power Plant in Somerset in the UK has received another setback, and the developer EDF has said that the project may be further delayed.