Latest news with #CCGT
Associated Press
7 days ago
- Business
- Associated Press
UK: TotalEnergies Acquires a Pipeline of Solar and Battery Projects
PARIS--(BUSINESS WIRE)--Jun 3, 2025-- TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the acquisition from Low Carbon, a leading renewable energy company, of a pipeline of 8 solar projects with a capacity of 350 MW and 2 battery storage projects with a capacity of 85 MW. As the solar projects are at an advanced stage of development, the target is that they could be operational by 2028. They will produce more than 350 GWh/year of renewable electricity, equivalent to the electricity consumption of around 100,000 UK households. 'We are very pleased with the acquisition of this pipeline from the renewable developer Low Carbon. The acquisition of these solar and battery projects located in the south of England will complement our integrated electricity portfolio in the UK, which includes 1.1 GW of gross installed offshore wind, 1.3 GW of gross combined cycle gas turbine, and more than 600 MW of solar projects under development', said Olivier Jouny, SVP renewables at TotalEnergies. Roy Bedlow, Chief Executive and Founder at Low Carbon, added: 'We are very pleased to have finalised this agreement with TotalEnergies, who are making an impressive commitment to building renewable infrastructure and sees Low Carbon deliver one of the largest ready-to-build portfolios of solar and battery projects in the UK market. Once built, these projects will make a vital contribution to the Government's Clean Power 2030 ambition and reinforce Low Carbon's track record for developing renewable assets of the highest quality, while supporting the build out of the rest of our renewables pipeline as we continue to scale as an independent power producer.' *** The Company is one of the country's leading oil and gas operators, operating around 27% of the UK Continental Shelf's gas production, with average daily equity production of 121,000 barrels of oil equivalent per day (boe/d) in 2024. TotalEnergies is deploying its Integrated Power strategy in the UK, which combines renewable power production and flexible power generation capacities. Its renewable portfolio in the country includes 1.1 GW of gross installed capacity (Seagreen offshore wind farm) and 4.5 GW under development, in both offshore wind and solar projects. TotalEnergies also holds a 50% stake in a 1.3 GW combined cycle gas turbine (CCGT) operated in partnership with EPUKI. TotalEnergies is one of the UK's largest suppliers of gas and electricity to businesses and the public sector, offers electric vehicle charging solutions and markets petroleum products including lubricants, aviation fuel, bitumen and specialty fluids. As of the end of March 2025, TotalEnergies has 28 GW of installed gross renewable electricity generation capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030. @TotalEnergiesTotalEnergiesTotalEnergiesTotalEnergies We invest in, develop, and operate solar, wind, energy storage, and energy from waste projects across the UK, Europe, and North America. We're contributing to the world's move to 100% renewable energy by creating and operating 20 GW of new capacity. We have more than 16 GW of new renewables in development right now across the globe. View source version on CONTACT: TotalEnergies Contacts Media Relations: +33 (0)1 47 44 46 99 [email protected]@TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 [email protected] Carbon Contacts Media Relations: +44 (0) 789 614 [email protected] KEYWORD: NORTH AMERICA FRANCE UNITED STATES UNITED KINGDOM EUROPE INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY OTHER ENERGY OIL/GAS SOURCE: TotalEnergies SE Copyright Business Wire 2025. PUB: 06/03/2025 06:05 AM/DISC: 06/03/2025 06:03 AM
Zawya
05-05-2025
- Business
- Zawya
Iraq's power deal with Siemens to add 14,000 MW
Iraq has recently signed an agreement with Siemens Energy to add 14,000 megawatts (MW) of electricity generation capacity to its national grid, the Electricity Ministry has said. The agreement, marking the third phase of Iraq's strategic energy partnership with the German company, includes the construction of gas-fired power plants across the country. These facilities will primarily utilise locally sourced natural gas, including gas currently flared during oil production, to enhance sustainability and efficiency. Electricity Minister Ziyad Ali Fadel said in local press comments at the weekend that the new Siemens Energy-built plants would employ combined-cycle gas turbine (CCGT) technology, allowing electricity generation without additional fuel consumption. He also noted that the latest agreement would raise Iraq's projected total generation capacity to 38,000 MW. Iraq currently generates approximately 28,000 MW of electricity, while peak summer demand can exceed 55,000 MW, leading to frequent power outages and reliance on private diesel generators. In addition to new power generation, the agreement includes long-term maintenance for existing facilities, such as the Dibis Gas and Al-Mussaib Thermal power stations. Similar agreements have been signed with GE Vernova and France's TotalEnergies to increase capacity and reduce emissions through flared gas recovery. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
22-04-2025
- Business
- Zawya
Iraq breaks ground on 921MW Nasiriyah CCGT plant
Iraq announced on Monday the commencement of construction of the 921-megawatts (MW) Nasiriyah Combined Cycle Gas Turbine (CCGT) power plant in Dhi Qar Province. The hydrogen-ready plant, awarded to Siemens Energy, will be built within the existing Nasiriyah Thermal Power Station. The power plant is one of three major development projects inaugurated by Prime Minister Mohammed Shia' Al-Sudani, with a combined investment value of 2.2 trillion Iraqi dinars (approximately $1.68 billion). The other two projects include the Nasiriyah Integrated Medical City, a 700-bed hospital complex, and infrastructure works in the Suq Al-Shuyukh district. (Writing by Majda Muhsen; Editing by Anoop Menon) (
Zawya
03-04-2025
- Business
- Zawya
12 firms eye bids for Oman's gas power projects
MUSCAT: Leading international power developers are among a dozen companies that have signaled their interest in competing for contracts to develop one of Oman's biggest gas-based Independent Power Projects (IPPs), comprising twin plants with a combined capacity of 2,400 MW. The list includes global heavyweights such as ACWA Power, Marubeni Corporation, Reliance Power, Sembcorp Utilities, Samsung C&T Corporation, and Sumitomo Corporation. They are among 12 companies that had submitted Statements of Qualifications demonstrating their technical capabilities and financial wherewithal to develop the IPPs on a Build, Own and Operate (BOO) basis, Nama Power and Water Procurement Company (PWP) – the sole procurer of new capacity in Oman – announced on Sunday, March 30, 2025. Sites at Misfah in Bausher Wilayat (Muscat Governorate) and Duqm in Al Wusta Governorate have been identified for the establishment of the two IPPs. Based on advanced thermal Combined Cycle Gas Turbine (CCGT) technology, the two projects will be the first such capacity to be developed in Oman for nearly a decade, when they come into operation during the 2028-29 timeframe. Also in contention for the contracts at this stage of the competitive procurement process are: Korea Western Power Co Ltd, Nebras Power, Al Ghanim International, Etihad Water and Electricity Company, Shenzhen Energy Group, and Al Jomaih Energy & Water Co. Nama PWP officials have stressed that new gas-based capacity is critical to addressing intermittency challenges as Oman presses ahead with its ambitious strategy to deploy renewable resources – chiefly solar and wind – to progressively decarbonize the power generation sector. The new IPPs will also help supplant older generation capacity which is not only less energy efficient, but also slated to fall out of contract in the coming years. Ahmed bin Salim al Abri, Chief Executive Officer of PWP, outlined this imperative in an earlier statement to the Observer: 'This project will enhance grid stability in Oman by integrating advanced thermal power plants, ensuring reliable and sustainable energy through a balanced energy mix. It marks a significant step in the company's ongoing commitment to providing a sustainable energy future for Oman.' In the next stage of the competitive process, a Request for Proposals (RfP) is expected to be issued to the prequalified participants before the end of Q2 2025, with an award likely before the end of this year. The new capacity is scheduled to be operational by Q2 2029 with early power provision by Q2 2028. In parallel with the procurement of these gas-based schemes, Nama PWP has also unveiled plans for the procurement of a major portfolio of solar and wind based IPPs designed to lift the contribution of renewables to around 40 per cent of total generation capacity by around 2030. Investment inflows totalling around $5 billion are anticipated in this sector over this timeframe. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
21-03-2025
- Business
- Yahoo
RWE AG (RWEOY) (Q4 2024) Earnings Call Highlights: Strong Financial Performance and Strategic ...
Adjusted EBITDA: EUR5.7 billion for 2024, exceeding the midpoint of guidance. Adjusted Earnings Per Share (EPS): EUR3.1, surpassing the guidance midpoint. Share Buyback Program: EUR1.5 billion until Q2 2026. Planned Investments (2025-2030): Reduced by 25% or EUR10 billion, now planning EUR35 billion net. CO2 Emission Reduction: 13% decrease in 2024 compared to the prior year. Dividend Increase: Targeting an increase by EUR0.10 to EUR1.2 per share for 2025. Offshore Wind EBITDA (2025): Expected range of EUR1.3 billion to EUR1.7 billion. Onshore Wind and Solar EBITDA (2025): Expected range of EUR1.65 billion to EUR2.15 billion. Flexible Generation EBITDA (2025): Expected range of EUR1 billion to EUR1.4 billion. Adjusted Operating Cash Flow (2024): EUR5.9 billion. Leverage Factor (End of 2024): 2.0, targeting closer to 3.0 times in 2025. Warning! GuruFocus has detected 6 Warning Sign with RWEOY. Release Date: March 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. RWE AG (RWEOY) delivered strong financial and operational performance in 2024, with adjusted EBITDA of EUR5.7 billion, exceeding the guidance midpoint. The company introduced a EUR1.5 billion share buyback program, demonstrating its commitment to returning capital to shareholders. RWE AG (RWEOY) achieved a 13% reduction in CO2 emissions in 2024, aligning with its decarbonization goals. The company has a robust pipeline with 12.5 gigawatts of capacity under construction, ensuring future growth. RWE AG (RWEOY) confirmed its long-term target of EUR4 adjusted earnings per share by 2030, indicating confidence in sustained growth. RWE AG (RWEOY) faces higher uncertainty in the investment environment, leading to a 25% reduction in its 2030 investment program. The company is cautious about additional investment commitments due to geopolitical tensions and energy policy uncertainties, particularly in the US. RWE AG (RWEOY) has increased its internal return requirements, which may limit future investment opportunities. The company expects 2025 to be an earnings trough as earnings in Flexible Generation and Trading normalize. RWE AG (RWEOY) has reduced planned net investments by EUR10 billion for the period 2025 to 2030, potentially impacting long-term growth. Q: Could you provide details on the potential RWE installations for the 20 gigawatts of CCGT the incoming German government is discussing? What sort of CapEx are we talking about, and how quickly could you begin construction? A: Markus Krebber, CEO: We are well-positioned to secure a significant portion of this capacity, given our current 20% market share in Germany. We have pre-contracts with suppliers and reserved turbine slots. However, we will only invest if we achieve very attractive returns, as competition is limited. Q: On the 2030 EPS target of EUR4 per share, how confident are you in achieving this despite the EUR8.5 billion reduction in incremental CapEx? A: Michael Mueller, CFO: We are confident due to our higher return expectations and the flexibility to balance between investments and share buybacks. This approach allows us to manage depreciation and financing costs effectively, ensuring we meet our EPS targets. Q: Regarding the EUR9 billion CapEx reduction, can you split this between gross CapEx reduction and farm downs/disposals? A: Markus Krebber, CEO: The reduction includes no expected US offshore investments and significantly lower hydrogen investments. We also anticipate less net offshore CapEx due to announced farm downs and a reluctance to take additional merchant risk in the current environment. Q: What is your view on the potential for locational pricing in the UK, and what could be the implications for your assets? A: Markus Krebber, CEO: We believe moving to zonal pricing now would create significant uncertainties and risk investments. Our CCGTs are located in the south, likely benefiting from higher prices, but we think the timing for such a change is not ideal. Q: Can you provide an update on the Amprion sales process and how the potential proceeds fit into your current plans? A: Markus Krebber, CEO: We are exploring options for Amprion, including partial sell-downs. Proceeds from any sale are not included in our current net CapEx plans, which would increase our flexibility for capital allocation decisions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
