The parties celebrated the combined cycle commissioning and the start of operations at the Beni Suef, Burullus and New Capital power plants. The stations will add a total of 14.4 gigawatts (GW) of power generation capacity to Egypt’s national grid, enough power to supply up to 40 million people with reliable electricity.Beni Suef power plant. (Photo: Siemens)With this milestone, Egypt and Siemens have set a new world record for execution of modern, fast-track power projects, delivering 14.4 GW of power in only 27.5 months. A single combined cycle power plant block with a capacity of 1,200 megawatts typically takes approximately 30 months for construction. For the Egypt Megaproject Siemens in parallel built twelve of these blocks in record time and connected them to the grid.“The record-breaking completion of our Megaproject in Egypt will not only transform the power landscape in Egypt, but will also serve as a blueprint for building up power infrastructure in the … [Read more...] about Completion of world’s largest combined cycle power plants in record…
Capital power
Completion of world’s largest combined cycle power plants in record time
Enough power to meet the electricity needs of up to 40 million people and helping the country save over $1 billion annually on fuel costs. In collaboration with the Egyptian Ministry of Electricity and Renewable Energy, Siemens and its consortium partners, Orascom Construction and Elsewedy Electric, announced today the completion of the Egypt Megaproject in record time. The parties celebrated the combined cycle commissioning and the start of operations at the Beni Suef Beni Suef power plant , Burullus and New Capital power plants. The stations will add a total of 14.4 gigawatts (GW) of power generation capacity to Egypt’s national grid, enough power to supply up to 40 million people with reliable electricity. With this milestone, Egypt and Siemens have set a new world record for execution of modern, fast-track power projects, delivering 14.4 GW of power in only 27.5 months. A single combined cycle power plant block with a capacity of 1,200 megawatts typically takes … [Read more...] about Completion of world’s largest combined cycle power plants in record time
PV Power sells over 468 million shares in IPO
The shares, or about 20% of the firm’s chartered capital, with the initial price of VND14,400 (US$0.633), were sold to 1,981 investors at the average price of VND14,938 per share, with the highest bidding price at VND28,000 and the lowest at VND14,500. PV Power, the country’s second largest state-run electricity producer, was found in 2007 and fully-owned by the Vietnam National Oil and Gas Group (PetroVietnam). It operates eight power companies and electricity plants with a total installed capacity of 4,208.2 MW, capable of supplying about 21 billion kWh per year, or 12% of the country’s total power output. The corporation earned approximately VND31 trillion (US$1.36 billion) in revenue in 2017. Its pre-tax profit hit over VND2.5 trillion (US$110 million), 83% higher than the yearly target. It is taking all necessary steps to hold the first shareholders’ meeting and register to be listed in the UPCOM within 3 months after the IPO day. It will … [Read more...] about PV Power sells over 468 million shares in IPO
Surplus ash and slag at thermal power plants remains untreated
VietNamNet Bridge - Vietnam has 20 coal-fired thermopower plants which produce 15.7 million tons of ash, slag and gypsum a year. Ash and slag from thermopower plants can be used to make unburned bricks Nguyen Tien Thanh, director of the the Mong Duong 1 Thermopower Plant, said at a workshop held in late August 2017 that the plant faces closure as the ash and slag cannot be treated or sold. If so, VND37 trillion worth of the state’s investment capital will be lost. Thermal power is one of the major sources of ash residue. To produce 1 kWh of electricity with coal, 0.2-1.5 kilograms of ash and slag will be produced. It is expected that Vietnam will have 43 thermopower plants by 2020, so the treatment of ash is an urgent task. RELATED NEWS Vietnam considers lowering environmental standards on treatment of ash, slag How will 16 million tons of ash and slag be used? Xay Dung … [Read more...] about Surplus ash and slag at thermal power plants remains untreated
Binh Duong plans to lure US$1.4 billion FDI capital in 2018
The Hanoitimes - The southern province of Binh Duong sets target of attracting US$1.4 billion foreign direct investment (FDI) capital in 2018, Tran Thanh Liem, chairman of the province People’s Committee, said. However, the province will select investors carefully with focus on large economic groups and partners with strong economic potentials in high technology, high added value, less labor-intensive and environmentally friendly industries and sectors. The investment attraction will also give priority to industrial parks and industrial clusters in the province, Liem said. Binh Duong gives priority to FDI projects in high-tech and and environmentally friendly industries He pledged that the province will continuously improve investment environment and infrastructure to ease investors besides enhancing the province’s competitive edge. “The province will issue a range of policies and incentives to further attract investment in hi-tech industries and take … [Read more...] about Binh Duong plans to lure US$1.4 billion FDI capital in 2018
PV Power to launch IPO on January 31
Ca Mau 1 power plant under the PetroVietnam Power Corporation. The company will offer 20 percent of its shares in an initial public offering (IPO) on January 31. (Photo: VNA) Hanoi (VNA) – The PetroVietnam Power Corporation (PV Power), a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam), will offer 20 percent of its shares in an initial public offering (IPO) on January 31. The sale is part of the PV Power equitisation plan approved by the Prime Minister on December 8, 2017, under which the State will reduce its stake in PV Power to 51 percent after PV Power becomes a joint-stock company, said PV Power Chairman Ho Cong Ky at a workshop in Hanoi on January 16. More than 676 million shares, equivalent to 28.88 percent of PV Power’s chartered capital, will be sold to strategic investors, while the remaining shares, equivalent to 0.11 percent of its chartered capital, will be sold to PV Power’s staff, he said. PV Power prioritises … [Read more...] about PV Power to launch IPO on January 31
Regulations on purchase and sale of power
Question: What are the key points as stipulated in Circular 16?Answer: Power of Viet Nam Group (EVN) has a monopoly over power purchase Circular 16 stipulates that the Power Buyer must be the Power of Viet Nam Group or its authorized member unit and the Power Seller is an organization or individual licensed to conduct power related activities in the area of power generation from grid connected solar power plants; organizations and individuals that develop rooftop solar power projects and sell surplus power to the Buyer.Requirements for grid connected solar power projects and rooftop solar power projects Pursuant to Circular 16, grid connected solar power projects and rooftop solar power projects with the scale of a capacity equal to or greater than 01 (one) MW must be licensed for power related activities and comply with Circular No.12/2017/TT-BCT dated July 31, 2017 of the Ministry of Industry and Trade.For grid connected solar power projects, the Investors are only eligible to … [Read more...] about Regulations on purchase and sale of power
EVNNPT strives to ensure progress of power transmission projects
With this huge investment, the corporation aims to ensure the progress and quality of power transmission projects, said EVNNPT Deputy General Director Nguyen Tuan Tung at a conference to set forth plans for 2018 in Hanoi on January 12. At the conference. (Photo: bnews.vn) Tung said EVNNPT invested nearly 18 trillion VND (792.2 million USD) in projects in 2017, equivalent to 94 percent of the adjusted target assigned by the EVN, and disbursement was more than 18.1 trillion VND, equal to 95.1 percent of the adjusted target. With the capital, the corporation began construction on 38 projects, including six 500kV transmission projects and 32 220kV transmission ones. In the year, 50 500kV and 220kV transmission projects were put into operation, many of which play an important role in ensuring power supply for regions across the country, notably projects ensuring electricity provision for Hanoi. A factor helping the corporation to finish and start … [Read more...] about EVNNPT strives to ensure progress of power transmission projects
PV Power to hold IPO roadshows next week
PetroVietnam Power Corporation (PV Power) will hold two roadshows to introduce the investment opportunity in the company’s initial public offering (IPO), scheduled on January 31 on the Ha Noi Stock Exchange.The roadshow in Ha Noi will take place on January 16 at Hilton Hotel, while the one in HCM City will be held on January 19 at InterContinental Asiana Saigon Hotel.At the roadshows, PV Power will provide details on its business performance and financial state, development prospect, as well as respond to investors’ concerns about potential investment in the company.Under the approved equitisation plan, PV Power, with a charter capital of VND23.42 trillion (US$1.03 billion), will offer 468 million shares, or 20 per cent of its capital, in the IPO at a minimum bidding price of VND14,400 (63 US cents) for each share.At this price, the company is valued at $1.48 billion.After the IPO, PV Power will continue to sell 676 million shares, equivalent to nearly 29 per cent of its … [Read more...] about PV Power to hold IPO roadshows next week
PV Power plans January IPO
The Hanoitimes - PetroVietnam Power (PV Power) plans to offer 468.3 million shares of its chartered capital in an initial public offering (IPO) on January 31, that aims to raise at least VND 6.74 trillion (US$296 million), stated in its official website. That said, the number of shares equivalent to 20% of PV Power’s chartered capital will be listed in the Hanoi Stock Exchange with an initial price of VND 14,329 per share (US$ 0.64), indicating the chartered capital at VND 23 trillion (US$ 1.04 billion). PV Power is currently the second largest electricity producer in Vietnam. PV Power is currently the second largest electricity producer in Vietnam after Electricity of Vietnam (EVN) in terms of capacity, thus, its IPO is expected to attract interests from international investors. PV Power will host two roadshows to introduce investment opportunity to potential investors on January 16 in Hanoi and another on January 19 in Ho Chi Minh. At the roadshow, … [Read more...] about PV Power plans January IPO