General Electric has agreed a memorandum of understanding with Nigeria for $10 billion of investment in new power plants, in which it will have a 10-15 per cent equity stake, a Nigerian power ministry spokesman has said.
Teddy Casiño, Representative for the Philippine district of Bayan Muna, has proposed that the government take over privatised power barges in Mindanao as an immediate step to address the reported power crisis in the island.
Robust growth of electricity demand in Morocco has highlighted the need for significant expansion of generation and transmission capacity in the country.
Chinese regional power utilities, CLP Holdings and China Southern Power Grid Co, are to pay around $2.8 billion for a 60 per cent stake in Hong Kong power provider Castle Peak Power Co Ltd, currently held by ExxonMobil.
China is set to resume construction of 43 new nuclear power plants one year on from Japan’s Fukushima disaster.
Coal’s share of US power generation has fallen to an almost 35-year low, as power generators shift to cheaper natural gas.
Nguyen Tan Loc, Deputy General Director of Vietnam Electricity (EVN) has said that it will seek government approval for two more power price increases from now to the end of 2012, each of 5 percent.
US Senator Jeff Bingaman has proposed the enactment of a ‘Clean Energy Standard’, which would reassure renewables investors, diversify US power generation and help to reduce carbon emissions.
Intelligent Energy Ltd., a UK producer of hydrogen-based fuel cells, said growing demand in Asian for small-scale power generation has allowed it to raise $35 million to finance expansion.
Centrica Plc, the UK’s biggest residential gas supplier, may mothball a further three of its eight gas-fired power plants, after already announcing the closure of two.