Latest news with #powergeneration
Yahoo
12 hours ago
- Business
- Yahoo
LS Power Acquiring bp's U.S. Onshore Wind Business
A leading developer of North American power and energy infrastructure projects said it has an agreement to acquire several U.S. onshore wind farms from a UK-based energy group. LS Power and bp Wind Energy North America announced the deal on July 18. LS Power said the deal comprises about 1,700 MW of operating onshore wind power generation capacity from 10 projects. LS Power, headquartered in New York, said the assets will be added to the company's existing fleet of renewable, energy storage, flexible gas, and renewable fuels assets, which comprises a 21,000-MW operating portfolio, and more than 780 miles of high-voltage transmission lines. LS Power also has another 350-plus miles of transmission infrastructure currently under construction or development. The transaction is expected to close by the end of 2025. Once the acquisition is complete, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, which focuses on renewable power generation in the U.S. and Canada. The deal will increase Clearlight Energy's operating fleet to about 4,300 MW. LS Power said the purchase will further diversify Clearlight's operations beyond that company's existing wind, solar, and battery storage fleet. 'LS Power's mission is to solve complex energy problems to improve the world and make lives better by developing a cleaner, more reliable, and affordable energy ecosystem, and today's announcement represents a material investment in reaching that goal,' said Paul Segal, CEO of LS Power. 'As an integrated business, bp Wind Energy is a natural addition to Clearlight Energy's growing portfolio of scalable solutions that will broaden our reach geographically and supports our strategy to make energy more efficient, affordable and available.' William Lin, bp EVP for gas & low carbon energy, said, 'We have been clear that while low-carbon energy has a role to play in a simpler, more focused bp, we will continue to rationalize and optimize our portfolio to generate value. The onshore U.S. wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward. I am pleased we have reached a mutually beneficial deal with LS Power and I look forward to working with them to support our people in maintaining safe and reliable operations as we transition ownership.' The bp wind farms are located in Indiana, Kansas, South Dakota, Colorado, Pennsylvania, Hawaii, and Idaho. They provide electricity for more than 15 off-takers. The 10 facilities included in the deal are: Fowler Ridge 1, Indiana: 288 MW gross capacity. Fowler Ridge 3, Indiana: 99 MW gross capacity. Flat Ridge 1, Kansas: 44 MW gross capacity. Flat Ridge 2, Kansas: 470 MW gross capacity. Titan, South Dakota: 25 MW gross capacity. Cedar Creek 2, Colorado: 248 MW gross capacity. Fowler Ridge 2, Indiana: 200 MW gross capacity. Mehoopany, Pennsylvania: 141 MW gross capacity. Auwahi, Hawaii: 21 MW gross capacity. Goshen 2, Idaho: 125 MW gross capacity. 'We are excited to welcome bp Wind Energy to the Clearlight Energy family as we work to execute on a long-term value creation and growth strategy that will help accelerate the transition to a cleaner future,' said Jeff Norman, CEO of Clearlight Energy. 'As part of an organization entirely focused on natural energy solutions, bp Wind Energy will have the resources it needs to reach its full potential while our talented, complementary teams will benefit from our enhanced set of collective capabilities and expertise.' Said Segal, 'We are focused on a holistic approach to advancing American energy infrastructure that includes improving existing energy assets while investing in transformative strategies that make energy more efficient, affordable and available. Well-located with well-structured contracts, these new assets will expand our renewable energy presence and help to meet growing energy demand across the U.S. We look forward to welcoming the talented teams operating these assets to LS Power and partnering with them to drive value for our stakeholders.' —Darrell Proctor is a senior editor for POWER. 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
Reuters
2 days ago
- Business
- Reuters
Exclusive: US firms to develop Syria energy masterplan after Trump lifts sanctions
DAMASCUS, July 18 (Reuters) - U.S.-based firms Baker Hughes (BKR.O), opens new tab, Hunt Energy and Argent LNG will develop a masterplan for Syria's oil, gas and power sector, Argent LNG CEO Jonathan Bass said on Friday, in a partnership aimed at rebuilding energy infrastructure shattered by 14 years of civil war. The move marks a swift turnaround as U.S. companies enter a country previously under one of the world's tightest sanctions regimes that U.S. President Donald Trump lifted at the end of June. The companies plan to help explore and extract oil and gas and produce power to help get the economy running as the government seeks to put Syria back on the map. The plan comes after a dash by other companies, many from Gulf Arab states, to sign deals to bolster Syria's power generation and ports infrastructure. Details of the plan have not been previously reported. "We are initiating the development of a comprehensive masterplan for energy and power generation in Syria, based on a preliminary assessment of opportunities for near-term improvements in generation capacity and service delivery," Bass told Reuters via phone. "Our efforts aim to support the revitalization of the energy sector in coordination with relevant stakeholders,' he added. "This includes potential activities across the value chain—from exploration and production to electricity generation, including combined-cycle power plants," he said, declining to elaborate further. Argent LNG, which is developing a liquefied natural gas export facility in Louisiana, in January signed a non-binding agreement to supply Bangladesh up to 5 million metric tons of the fuel annually, the first major U.S. LNG supply deal since Trump began his second term. Reuters received no immediate response to emailed questions to global energy services provider Baker Hughes and Texas-based electric utility Hunt Energy. The plan is to begin with areas west of the Euphrates River, under control of the Syrian government. Syria's east, where much of its oil is produced, remains controlled by the Syrian Democratic Forces, a U.S.-backed and Kurdish-led armed group that Washington has urged to integrate with the new authorities in Damascus following the ouster of former Syrian strongman Bashar al-Assad. After 14 years of war, Syria's electricity sector is severely damaged, generating only 1.6 gigawatts of electricity, down from 9.5 GW before 2011. Billions of dollars of investment are needed to fix the sector, so the cash-strapped state is looking at private investment or donors to foot the bill. In May, Syria signed a memorandum of understanding with Qatar's UCC Holding to develop $7 billion worth of power generation projects, including four combined-cycle gas turbine power plants and a 1,000-MW solar power plant in southern Syria. In a post on LinkedIn on Thursday, Syrian Finance Minister Yisr Barnieh said the three U.S.-based companies were forming a coalition to invest in Syria and develop the country's energy sector. "This visit signals a growing interest among American companies and investors in engaging with Syria," he said. Bass, Hunt Energy CEO Hunter L. Hunt, and a senior executive at Baker Hughes arrived in Syria on a private jet on Wednesday morning and were meeting with Barnieh when Israel conducted a series of airstrikes on Damascus that shook the city, Bass said. "It was big," said Bass, who has been working on the energy project since visiting Damascus and meeting with Syrian President Ahmed al-Sharaa in April. He was part of both state-led and informal efforts to lobby Trump to meet with Sharaa. The landmark meeting took place in mid-May with a big push from the leaders of Turkey and Saudi Arabia, and Trump announced the end of Syria sanctions. As they are slowly phased out, investor interest in Syria has grown. A week of violence in the southern province of Sweida, however, has darkened the mood in the country and left at least 321 people dead, according to the Syrian Network for Human Rights, a human rights group. "To work in Syria, there are potholes, there are ditches, it has craters," said Bass. "If you don't have the team that's willing to accept craters, don't come."
Bloomberg
4 days ago
- Business
- Bloomberg
Egypt's Record Diesel Imports Worsen Europe's Supply Squeeze
Egypt's diesel imports have set new highs this month as the nation rushes to secure backup fuels for power generation, further tightening supplies in Europe. Diesel and gasoil imports jumped to a record of more than 370,000 barrels a day in the first 15 days in July, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. That's 65% higher than a year ago and 35% above June's volumes. Current inflows have surpassed a previous high in data going back to 2016.
Al Mayadeen
5 days ago
- Business
- Al Mayadeen
Turkey to supply natural gas to Syria after grid connection
Turkish Energy Minister Alparslan Bayraktar announced on Wednesday that Turkey has officially connected its natural gas grid to Syria's infrastructure and is preparing to supply gas to its southern neighbor. The move marks a significant step in Ankara's bid to expand energy cooperation across the region. 'We are going to be able to give gas for power generation to Syria and hopefully to normalize life in Syria,' Bayraktar said during his remarks at the 9th OPEC International Seminar, currently being held in Vienna. 'I think the interconnectivity and infrastructure investment are quite crucial,' he added. Bayraktar emphasized that Turkey is actively seeking partners to support the project, hinting at a larger regional strategy to leverage energy development for economic and political stabilization in Syria, which has been devastated by over a decade of war. The ninth OPEC International Seminar runs from July 9–10 in Vienna and gathers major energy stakeholders from across the globe. OPEC+ is preparing to approve a larger-than-expected increase in oil production next month, signaling a decisive shift away from years of output restraint despite mounting fears of a global oversupply, Bloomberg reported. According to delegates familiar with the matter, the alliance, led by Saudi Arabia and including Russia, plans to boost output by approximately 550,000 barrels per day at a virtual meeting scheduled for Saturday. The move surpasses the group's previously planned hikes of 411,000 barrels per day for May, June, and July. The planned August increase marks a significant pivot for OPEC+, which has surprised markets since April by ramping up production more aggressively than anticipated. The shift comes at a time of high global inventory levels and slowing demand growth, especially from China, raising questions about the group's long-term strategy. One delegate told reporters the accelerated production ramp-up aims to 'take advantage of stronger demand' during the northern hemisphere's summer months. The group is also under pressure to reclaim lost market share, particularly from US shale producers, and to enforce discipline among members that have exceeded their quotas in recent months. Officials cite multiple reasons for the strategic shift, including the need to meet peak seasonal demand, enforce compliance among members exceeding their output quotas, and expedite the return of previously offline production. Saudi Arabia, in particular, is reportedly pushing to restore withheld barrels as swiftly as possible. If approved, the planned hike would bring OPEC+ significantly closer to reinstating 2.2 million barrels per day of suspended output by September. Another similar increase may be considered for the following month, with potential production targets for September also expected to be on the meeting agenda.
Globe and Mail
5 days ago
- Business
- Globe and Mail
The Frontier Group of Companies to Transform Bruce Mansfield Power Plant into State-of-the-Art Natural Gas Power Plant, Supporting America's Energy Goals and Pennsylvania's Economic Growth
The Frontier Group of Companies ('FGC'), owner and developer of the 660-acre Shippingport Industrial Park in Pennsylvania, today announced that it is converting the former 2.7 gigawatt Bruce Mansfield Power Plant into Shippingport Power Station, a significantly larger state-of-the art natural gas generation plant with new incremental onsite generation. Additionally, FGC has secured a partner to build a collocated data center facility to support America's demand for AI infrastructure. Following its completion, Shippingport Power Station is expected to supply substantial direct power to the prospective data center or other potential on-site uses and contribute over one gigawatt of excess capacity back to PJM Interconnection, the largest power grid operator in the United States, boosting both regional and national power supply. The redevelopment project is expected to benefit Pennsylvania with more than $6 billion of new economic activity, encompassing direct spending, indirect spending and induced economic output, as well as create more than 15,000 construction jobs and 340 new full-time jobs in the region. It will also deliver approximately $139 million in annual recurring revenue for the state, including more than $13 million in tax revenue, $36 million in labor income and $6 million in local county tax revenue. David Franjoine, CEO and Founder of FGC, said, 'The Bruce Mansfield Power Plant dutifully served Pennsylvania for 43 years. With the support of Governor Josh Shapiro and Senator Dave McCormick, we will transform this decommissioned coal facility into a modernized power facility that supports America's goal of energy dominance and reinvigorates local communities with high-quality employment opportunities. I look forward to working closely with Senator McCormick and Governor Shapiro to bring this important initiative to fruition.' Shippingport Power Station is expected to utilize approximately 800 million cubic feet per day of natural gas produced by the Marcellus and Utica shales, located in Western Pennsylvania. As part of the redevelopment project, EQT Corporation (NYSE: EQT) ('EQT'), the largest integrated natural gas producer in the U.S., intends to serve as the new plant's natural gas supplier. Toby Z. Rice, President and Chief Executive Officer of EQT, said, 'As a Pennsylvania company, we are especially proud to be a part of this important project, which highlights the critical role of domestic energy in powering economic growth. We look forward to supporting Shippingport Power Station with reliable, affordable natural gas for the benefit of our state and for all Americans.' In addition, National Fuel Gas Supply Corporation, a subsidiary of National Fuel Gas Company (NYSE: NFG) with nearly 125 years of natural gas industry experience, will serve as the transporter for a significant portion of the natural gas supplies to the Shippingport Power Station. David P. Bauer, President and Chief Executive Officer of National Fuel Gas Company, said, 'We look forward to supporting this significant investment in Western Pennsylvania, leveraging our interstate pipeline network to provide reliable deliveries of Appalachian Basin natural gas directly to the facility, with new transportation capacity expected to come online as early as Fall 2026.' About The Frontier Group of Companies The Frontier Group of Companies (FGC), based in Buffalo, New York and founded in 2001, specializes in site acquisition, environmental remediation, asset repurposing, energy generation and industrial development of legacy brownfield sites. As a liability transfer company, FGC assumes all environmental liability, identifies the hazardous substances, self-performs remediation and cleanup, razes unusable improvements and engineers and plans the future use of its sites. The facilities that FGC acquires include former coal fired power plants, steel mills, paper mills, coal mines and chemical plants, among a variety of primarily industrial facilities throughout North America. Frontier is a privately held company with a proven and client-endorsed track record, and an extensive list of successful projects completed in over 30 states and seven countries. Additional information about FGC's Shippingport Project, visit: About EQT Corporation EQT Corporation is a premier, vertically integrated American natural gas company with production and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors and communities and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day — trust, teamwork, heart and evolution are at the center of all we do. About National Fuel Gas Company National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering and Utility. Additional information about National Fuel is available at
