Global Energy News Brief

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Finnish Govt Grants Lease for

Finland has given the green light for the lease of state-owned sea areas for two large offshore wind projects. The leases will aid the construction of offshore wind farms located on the coast of Korsbas, and Pori.

The first area is set to become the home for a 1.3 GW complex, having 70-100 turbines of 12 MW – 20 MW each. It will form part of a project developed by Metsahallitus, the Finnish Forest Administration. The state-owned company said it would seek a partner to realise the project. The wind farm is expected to have been in operation by 2028.

The project will be Finland’s first offshore wind farm in an open sea area. It will include an investment of between EUR 1.5 billion and EUR 2.5bn, according to the ministry of agriculture and Forestry. Finnish wind power producer Soumen Hyotytuuli Oy is planning an extension about 30 km northwest of the cost of Pori. The extension is to be made to the existing 42 MW Tahkoluoto offshore wind demonstration plant.

The expanded facility will have 43 turbines with individual capacities of between 11 MW and 20mw and produce 1,000GWh–1,900GWh of electricity annually. The original Tahkoluoto park has been generating power since 2017.

Iraq Announces 630mw of Projects in Al-Muthanna Province

The Al-Muthanna Governorate in southern Iraq plans to two parks with a combined capacity of 630mw. Assistant governor Hamid Al-Hassani told the official Iraqi newspaper Al-Sabaah that one of the solar farms will have a total of 130MW and be built in the Al-Khidhir district. The local government has provided the for the plant, and the project has been assigned to the companies that will carry it out.

According to Al-Hassani, a second project for a 500MW farm has been awarded to Chinese companies already working on it. The facility will be built on an 8,000-dunam (2,000-hectare) plot near the Samawa combined-cycle power plant. The two projects are the latest in a series of initiatives announced recently by Iraq, which aims to have 12GW of generation capacity by the end of this decade.

According to the US-based Monitor, Iraq has 5.75gwof potential projects.

NERC to Hold Discos and Gencos Accountable for Power Supply

The contract-based electricity policy announced by minister of power, Mr. Abubakar D. Aliyu, is believed to have bolstered electricity generation and distribution since July 1, 2022 when it was introduced.

The policy was prompted by the sector’s chaos, and frequent failure of the national grid and the takeover of several Discos for failing by banks. Fidelity Bank was forced to take over Benin, Kaduna, and Kano Discos due to their failure to repay loans.

At the same time, the Nigeria Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) restructured and replaced the management of Port Harcourt and Ibadan DisCos, both of which were hit by a liquidity crisis and long-running battles with banks over loan repayment default.

The new system requires NERC to hold Discos and Gencos accountable for electricity supply and distribution. Operators in the sector must adhere to the terms and conditions, which require at least 5,000mwh of electricity per day or face sanctions.

NERC said it is collaborating with the to establish an emergency electricity stabilization fund to shore up the Discos’ revenue capacity to pay monthly energy bills.

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