Latest news with #powerproject
Associated Press
2 days ago
- Business
- Associated Press
UK backs away from renewable energy project to transport energy underwater from Morocco
CASABLANCA, Morocco (AP) — The United Kingdom has stepped back from a project to transmit power generated by North Africa's winds and sun via underwater cables and is pivoting to other projects seen as less risky, British energy officials said Thursday. The country's Energy Security Department said in a statement that they would no longer support the $33 billion project due to a 'high level of inherent risk, related to both delivery and security.' The Morocco-UK Power Project was announced by the British company Xlinks in 2021 as part of an effort to create a global energy grid and ship power from places where it's cheap to produce to high-demand markets. Xlinks said the project would provide an equivalent of 8% of Britain's current electricity needs, or roughly 7 million homes. 'There are stronger alternative options that we should focus our attention on,' British minister Michael Schanks said in a statement, noting the inherent risk for taxpayers and consumers. The United Kingdom relies heavily on natural gas for its energy needs and aims to generate all of its energyfrom renewable sources by 2030. It closed its last coal-fired power plant last year and offered partial financing to a raft of wind, solar and energy storage projects to help meet its goal. Such large-scale infrastructure projects typically rely on some governmental support or fixed prices per megawatt-hour. Xlinks was pursuing a fixed price agreement and has already received loans from investors including France's Total Energies and the development bank Africa Finance Corporation. Xlinks Board Chair Dave Lewis said in a statement that the company would continue pursuing the project despite the government's decision. 'We are hugely surprised and bitterly disappointed,' he said, noting that the company believed its project would offer electricity at cheaper rates and more quickly than other proposals, including to expand nuclear power. Xlinks is one of a slew of projects that reflect how European countries are looking south to North Africa for clean energy, testing whether it's cheaper to generate renewable power in ideal conditions far away and ship it, or to produce it domestically. The project would transmit electricity through nearly 4,000 kilometers of underwater cables encased in protective plastic and steel, with minimal transmission loss. If completed, it would be the largest interconnector of its kind, though smaller subsea cable networks already link the UK to neighboring European countries. In addition to Xlinks, transmission projects in Tunisia and Egypt aim to link solar and wind farms to Italy and Greece Moroccan officials did not respond to questions about the decision.
Zawya
15-06-2025
- Business
- Zawya
Kuwait issues RFP for 1.1GW solar power project in Shagaya Renewable Energy Park
Kuwait Authority for Partnership Projects (KAPP) and the Ministry of Electricity, Water, and Renewable Energy has issued Request for Proposal (RFP) for the 1.1 gigawatts (GW) [or 1,100 megawatts (MW)] Al Dibdibah Power and Al Shagaya Renewable Energy - Phase III - Zone 1 Solar PV project, located within the Shagaya Renewable Energy Park (SREP) in Jahra Governorate, west of Kuwait City. The RFP was issued to the two companies and four consortia prequalified for the project in August 2024. These are: France's TotalEnergies Renewables; Vietnam's Trung Nam Construction Investment Corporation; Consortium of Saudi's ACWA Power with Kuwait's Alternative Energy Projects Company; Consortium of UAE's Abu Dhabi Future Energy Company (Masdar) with local company Fouad Alghanim & Sons General Trading and Contracting; Consortium of France's EDF Renewables with local Abdullah Al Hamad Al Sagar and Brothers Company and South Korea's Korean Western Power Company; Consortium of China's Jinko Power with Japan's JERA and local National Technology Enterprises Company. The project scope also includes development, financing, design, supply, engineering, construction, testing, and commissioning of a 400 kV power transmission substation. The deadline for submitting the technical and commercial bids is 14 September 2025 before 12.00 pm. Theproject will be backed by a Power Purchase Agreement (PPA) with the Ministry of Electricity, Water and Renewable Energy for a period of 30 years effective from the project's Commercial Operation Date (PCOD). In May 2025, KAPP had invited prequalification applications for developing the 500MW Al Dibdibah Power and Al Shagaya Renewable Energy - Phase III - Zone 2 Solar PV project (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Argaam
27-05-2025
- Business
- Argaam
GAS signs SAR 830.6M contracts with SPPC
Gas Arabian Services Co. (GAS) signed two contracts, on May 25, with the Saudi Power Procurement Co. (SPPC), the principal buyer, with a total value of SAR 830.64 million, excluding value-added tax (VAT). In a statement to Tadawul, the company said the first contract entails the construction of gas pipeline networks to supply the Nairyah Independent Power Project (IPP), valued at SAR 504.32 million, excluding VAT. In a separate statement, the company noted that the second contract involves the construction of gas pipeline networks to supply the Rumah IPP, with a value of SAR 326.32 million, excluding VAT. The company explained that both contracts include the design, engineering, procurement, supply, and transportation of all equipment and materials, as well as the construction, installation, and commissioning testing of the Rumah IPP. Each contract has a duration of 24 months. GAS expects these contracts to have a positive financial impact on its financial statements for the years 2025 through 2027. According to data compiled by Argaam, GAS had recently announced the award of the two contracts with the SPPC, totaling SAR 830.64 million, excluding VAT.
