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Yahoo
3 days ago
- Business
- Yahoo
Argan, Inc.'s Atlantic Projects Company Executes Platin Power Station Contract with SSE
ARLINGTON, Va., July 28, 2025--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) ("Argan" or the "Company") today announces that its wholly owned subsidiary, Atlantic Projects Company ("APC"), entered into an engineering, procurement and construction services contract for the Platin Power Station with SSE Thermal, part of the integrated energy group SSE plc. The project, located in County Meath, Ireland, will consist of three Siemens Energy SGT-800 turbines operating in open cycle mode with supporting balance of plant equipment. The project will provide approximately 170 MW of generation capacity to the grid during periods of high demand and supply shortfalls from renewable sources. Planned completion is expected in 2028. This marks a significant milestone for APC and strengthens its ongoing relationship with one of the UK and Ireland's leading energy companies. Charles E. Collins, IV, Executive Managing Director of APC, commented, "We are honored to have been selected once again by SSE and thank them for their continued trust in the Atlantic Projects Company. The Platin Power Station contract represents our second project with SSE this year, and we look forward to building on this strong partnership as we work together to deliver a successful project that supports the transition to cleaner, more efficient, and sustainable energy solutions." Finlay McCutcheon, Managing Director of SSE Thermal, said, "We're proud to once again partner with Atlantic Projects Company, and Siemens Energy, to deliver Platin Power Station. Our focus is now on working together to complete the project safely and efficiently. By providing flexible power generation, Platin will help strengthen Ireland's security of supply while supporting the country's net zero ambitions." About Atlantic Projects Company Atlantic Projects Company is a leading provider of engineering, construction and other technical services primarily for power generation clients. APC performs turbine, boiler and large rotating equipment installation, commissioning and outage services for original equipment manufacturers, EPC contractors and plant owners located primarily in the Republic of Ireland and the United Kingdom. For 50 years, APC has successfully completed over 8,000 projects on four continents. About Argan Argan's primary business is providing a full range of construction and related services to the power industry. Argan's service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated industrial construction, fabrication and plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services. Safe Harbor Statement Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company's future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities and the Company's ability to successfully complete the projects that it obtains. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company's SEC filings. View source version on Contacts Company Contact: David Watson301.315.0027Investor Relations Contacts: John Nesbett/Jennifer BelodeauIMS Investor Relations203.972.9200 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
STV News
10-07-2025
- Business
- STV News
Building new gas-fired power plant is vital for energy security, according to firm
The boss of the firm behind a new power plant in the north of Scotland has said its development is vital for the country's energy security. Plans have been submitted to create a new gas-fired power plant to the northeast of Peterhead. The facility would be built next to the existing one and use carbon capture to reduce its emissions. Climate campaigners have questioned the need for a new fossil fuel-powered plant and argue that the focus should be on publicly owned renewable energy instead. The current owner of Peterhead Power Station, SSE Thermal, says it is coming to the end of its engineering life and needs to be replaced. Finlay McCutcheon, managing director of SSE Thermal, said: 'They do have an ultimate economic, technical life and they will need to be replaced. 'That's why we at SSE want to build new, replacement power stations that are either abated and decarbonised from day one, which is what we want to do at Peterhead or on a clear pathway to decarbonisation in the future.' The current power plant is one of the biggest polluters in Scotland but those behind plans for the new site say using carbon capture technology could reduce emissions by more than 90%. Carbon dioxide (CO2) created at the plant would be captured, transported to nearby St Fergus at the Acorn project, before the CO2 is pumped out to the North Sea by pipes and stored around 2.5km under the seabed, in a process known as CCUS. However, the delay in the advancement of CCUS means a closure date for the current plant has changed from 2030 until the middle of the next decade. The two sites could also operate side-by-side until 2040, in a 'worst case scenario', according to SSE Thermal. The plans are currently with the Scottish Government, and it will be for ministers to decide if they get the go-ahead. Climate campaigners have urged the Government to reject the proposals. Rosie Hampton, of Friends of the Earth Scotland, said: 'What gives us real energy security is publicly owned renewable energy that isn't tied to the volatile international prices of gas and can bring down bills for people whilst also making the necessary energy transition that we need. 'When we think about what delivers for people in the North East of Scotland and the rest of the country, we're looking at things like wind, solar, direct electrification, we're not looking at power stations.' However, SSE Thermal argues that gas-fired power stations will still be needed even during the transition, when the wind doesn't blow or the sun doesn't shine. The current plant has been in operation for more than 40 years. Although its role has changed, when it first started working in the early 1980s, it operated at near full capacity for most of the year. Now, because of the increased use of renewables there can be several days at a time when it isn't generating power. A recent updated environmental impact assessment (EIA) of the new power plant says estimated emissions over its lifespan have increased by around threefold from the original estimates. SSE Thermal said the direct pollution from the proposed plant hasn't increased. The firm's MD said: 'We've updated that to take into account the upstream emissions from the gas that we will use for the new power station. 'What hasn't changed is our assessment of the direct emissions from the power station, that remains exactly the same.' Friends of the Earth Scotland said more than 1,600 people and 30 organisations objected to the plans in a consultation on the updated EIA that closed this week. The current plant employs around 80 full-time staff, and it's estimated that the new site will employ around 240. Jennifer Hemmings has worked at the power plant for four years and believes a new station is vital for the area. 'I think it's very important for me in terms of things like job security and as well for myself moving into a more greener kind of job,' she told STV News. 'I think it would mean job growth, especially in the development phase, when it's getting built, lots of local work.' The Scottish Government said it would not be 'appropriate' to comment on a live application. 'A decision will be taken by ministers in due course, following consideration of the application information, consultation responses and representations made by members of the public,' a spokesperson said. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
The Herald Scotland
11-06-2025
- Science
- The Herald Scotland
Why does Scotland require a new fossil fuel power plant?
Friends of the Earth Scotland has said that the Peterhead project must be stopped after new environmental assessments show that lifetime pollution from the site, which includes the power station and the construction works, is set to rise from an original estimate from 2022 of 6.3m tonnes of CO2e carbon dioxide equivalent) to 17.1m tonnes. What is the Peterhead Carbon Capture and Storage (CCS) project? Peterhead is a town in north-east Scotland with an existing gas-fired power station that has been operational since the late 1980s. The current plans involve proposals to either upgrade or replace parts of the power infrastructure at Peterhead with a new fossil fuel power plant that incorporates carbon capture and storage (CCS) technology. This new project is intended to be a combined cycle gas turbine (CCGT) plant powered by natural gas, designed to capture a significant portion of its CO₂ emissions and store them underground. Campaigners call for the rejection of the plant (Image: Friends of the Earth Scotland) The Peterhead CCS project, is a collaboration between SSE Thermal and Equinor, and aims to develop a new 910 MW gas-fired power station which would have technology to remove CO₂ annually from emissions, storing it in an Acorn offshore storage site approximately 100 km off the coast. The project is part of the Scottish Cluster initiative, which seeks to establish a low-carbon industrial hub in the region. What exactly is Carbon Capture and Storage (CCS)? CCS is a technology that captures carbon dioxide (CO₂) emissions from power plants or industrial sites before they are released into the atmosphere. The captured CO₂ is then compressed, transported, and stored deep underground in geological formations such as depleted oil and gas fields or saline aquifers. READ MORE: The goal is to reduce the environmental impact of burning fossil fuels by preventing CO₂ from contributing to climate change. Why is this project considered controversial? Critics argue that investing in new gas infrastructure may lock Scotland into fossil fuel reliance for decades, potentially hindering progress towards net-zero emissions. The project has been criticised for potentially conflicting with Scotland's climate commitments, with some arguing that it may divert resources from renewable energy initiatives. They have also questioned the legitimacy of its 'green' credentials with opponents, saying no carbon capture and storage (CCS) scheme has ever consistently trapped 90% of the carbon it creates as claimed. Research by the Tyndall Centre for Climate Change Research, commissioned by environmental groups has questioned the effectiveness of CCS technology in reducing greenhouse gas emissions from the energy sector. Critics say CCS is still costly complex and unproven at large scale. The project has received millions in public money which some believe would be better spent on renewables and energy efficiency. What are the potential environmental risks of CCS at Peterhead? Opponents have warned that if stored CO₂ escapes, it could undermine climate benefits and pose risks to humans and ecosystems. Opponents also claim injecting CO₂ underground could trigger minor earthquakes. Long-term monitoring is required to ensure storage sites remain secure for centuries. There are concerns offshore pipelines and injection could affect marine habitats. What are the expected benefits of the project? Advocates of the Peterhead CCS project say the development and construction phases are expected to support approximately 980 years of employment, with around 240 jobs sustained annually during operation. An estimated £60 million was projected to be contributed to the Aberdeen City and shire economy during development and construction, with £25 million added annually during the operational phase. Advocates say the plant would provide flexible, low-carbon electricity, complementing intermittent renewable sources and enhancing grid stability. And by capturing and storing CO₂ emissions, the project aims to cut the carbon footprint of the power sector. Energy firm SSE says the new Peterhead power station will be built so that more than 90% of the carbon it creates through burning gas can be captured and stored. And the likes of the Dundee-born chair of the Intergovernmental Panel on Climate Change (IPCC), Prof Jim Skea, has argued that CCS has an important role to play in energy generation. What is the current status of the project? The Scottish Government is expected to make a final decision on the planning application at some point with consultations and environmental assessments ongoing.
Yahoo
05-02-2025
- Business
- Yahoo
SSE Thermal announces FID for 300MW Tarbert power station in Ireland
SSE Thermal has announced its final investment decision (FID) to construct the 300MW Tarbert next-generation power station in County Kerry, Ireland. The new power plant will operate entirely on sustainable biofuels and has the potential for conversion to hydrogen. It aligns with SSE Thermal's strategy to support Ireland's electricity system and transition towards a low-carbon future. SSE Thermal, a subsidiary of British energy firm SSE, plans to invest €300m ($312m) in the construction of the power station. The Tarbert facility will utilise hydrotreated vegetable oil, a sustainable biofuel derived from 100% waste feedstocks. Construction activities for the sustainable biofuel plant are already underway, with full-scale construction set to begin in 2025. The project is scheduled for completion by the end of 2027. SSE Thermal secured planning consent from An Bord Pleanála in October 2024 after consultations with local stakeholders. SSE Thermal has chosen Ansaldo Energia and Limerick-based Atlantic Projects Company (APC) as its primary partners for the project. Ansaldo will provide the AE94.3A turbine and APC will deliver the balance of plant services. SSE Thermal managing director Finlay McCutcheon stated: 'This is a landmark moment for Tarbert, which has a proud history of energy generation dating back almost six decades. 'In taking this final investment decision, we are underlining our commitment to delivering the next generation of power at the site, supporting Ireland's electricity system and laying the foundations for a low-carbon future. 'Our focus now shifts to the safe and timely construction of the Tarbert next-generation power station, working closely with our partners at Ansaldo Energia and APC to deliver this vital project.' The decision follows the closure of the original Tarbert plant in 2023 due to environmental regulations. SSE Thermal has completed a temporary emergency generation (TEG) project at the site, as requested by Irish authorities. The 150MW TEG, which began operations in early February 2025, will cease operations no later than March 2028. In April 2023, SSE Thermal was provisionally awarded ten-year contracts for two proposed power stations in Ireland. "SSE Thermal announces FID for 300MW Tarbert power station in Ireland" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
