Latest news with #GasTurbines
Business Recorder
16-07-2025
- Business
- Business Recorder
KAPCO approves Rs800mn sale of gas turbines to local steel maker
Kot Addu Power Company Limited (KAPCO) has received shareholder approval to sell its Gas Turbines GT-3 and GT-4, along with associated components, to Rizwan Steel (Private) Limited for Rs800 million. The power producer disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'The consent of shareholders of Kot Addu Power Company Limited be and is hereby accorded to the disposal of plant and machinery of the company comprising Lot-1 (Gas Turbines (GT-3 and GT-4)) along with associated parts and components to Rizwan Steel (Private) Limited at a price of Rs800 million, subject to requisite approval(s) as per details given in statement of material facts,' read the notice. KAPCO informed that Shahab Qader Khan, Chief Executive and/or Adolf Anthony Rath, company secretary, are authorised to dispose of the plant and machinery and to act on behalf of the company 'in doing and performing all acts, matters, things and deeds to implement the disposal and the transaction contemplated by it'. Last month, KAPCO signed a Tri-Partite Power Purchase Agreement (TPPA) along with the schedules with the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) and National Grid Company of Pakistan Limited to govern electricity sales from KAPCO's power plant. Incorporated in Pakistan on April 25, 1996, as a public limited company, KAPCO's principal activities are to own, operate and maintain a multi-fuel fired power station with fifteen generating units with a nameplate capacity of 1,600 MW in Kot Addu, Punjab. The company sell the electricity produced to a single customer, the Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).
IOL News
24-04-2025
- Business
- IOL News
ActionSA slams Eskom's R3.6 billion diesel spending in one month as 'costly cover-up' for failing grid
ActionSA demands accountability from Eskom and the Minister of Electricity, calling for honest reporting, real recovery plans, and an end to wasteful diesel spending disguised as energy progress. Image: Timothy Barnard /Independent Newspapers ActionSA has expressed concern over Eskom's R3.6 billion diesel spend in just 30 days, calling it an 'unaffordable illusion' used to mask South Africa's ongoing electricity crisis. The party says government claims of ending load shedding are misleading, with diesel-powered emergency generation simply substituting blackouts rather than solving the core issues. ActionSA Member of Parliament, Alan Beesley, said: 'South Africa hasn't ended load shedding – we've simply replaced it with an unaffordable illusion, paid for by the taxpayer.' Beesley said that between April 1 and 10, 2025, alone, Eskom burned R1.34 billion in diesel. Yet, Eskom's Energy Availability Factor (EAF), the key metric for generation performance, sits at just 56.11 percent, well below the 70 percent target set by the Minister of Electricity. This also reflects a decline from the same period last year, when the EAF was 58.96 percent. ActionSA says this proves there are fewer megawatts available now than a year ago, despite significantly higher spending. 'That is not a recovery – it is a cover-up with devastating fiscal consequences,'' Beesley warned. According to Eskom's 2024 data, diesel-fired generation via Open-Cycle Gas Turbines costs R6,579 per megawatt-hour, compared to R541 for coal and just R113 for nuclear. ActionSA argues that billions are being wasted to keep the grid afloat when those funds could have been used to restore failing coal infrastructure. If the same amount of electricity had been produced using coal, the cost would have been a fraction, closer to R300 million. Beesley added: 'Eskom is burning billions, and the people of South Africa are being burned in the process.'
