Latest news with #powerprojects
Bloomberg
23-07-2025
- Business
- Bloomberg
China's June Solar Installations Plummet as New Rules Take Hold
China saw a significant slowdown in solar and wind installations in June after new rules came into effect that threaten the profitability of renewable power projects. The country added 14 gigawatts of solar last month, down 85% from a record 93 gigawatts in May, according to data released on Wednesday by the National Energy Administration. It comes after a rush earlier this year ahead of the policy deadline drove China to install more solar capacity in a single month than any other country did in all of 2024, according to BloombergNEF data.
Zawya
27-05-2025
- Business
- Zawya
Saudi-listed GAS bags $221mln contracts for Nairyah, Rumah IPPs
Saudi Arabia - Gas Arabian Services Company (GAS) has signed two contracts with state-run Saudi Power Procurement Company (SPPC), the principal buyer, to develop gas delivery systems for Nairyah and Rumah independent power projects (IPPs). The contract's combined value is 830.64 million Saudi riyals ($221.46 million), the company said in two separate statements to the Saudi stock exchange on Tuesday. The contracts include designing, engineering, procuring, supplying, delivering equipment and materials, constructing, installing, testing, and commissioning delivery systems for the two IPPs. The Nairyah IPP contract is valued at SAR 504.32 million, while the Rumah IPP contract is valued at SAR 326.32 million. The company explained that both contracts include the design, engineering, procurement, supply, and transportation of all equipment and materials, as well as the construction, installation, and commissioning testing of the Rumah IPP. The contract durations for both IPPs are 24 months, the statement said. The contracts are expected to positively impact GAS' financial statements from 2025 to 2027. (Editing by Anoop Menon) (
Zawya
19-05-2025
- Business
- Zawya
Oman pre-qualifies 7 firms for 2 power projects
Oman has pre-qualified seven companies to bid for two power projects under the public private partnership (PPP) model with a combined value of around 880 million Omani rials ($2.28 billion). Nama Power and Water Procurement (PWP), the exclusive procurer of power and water in Oman, named the qualified applicants to participate in a tender for the two Independent Power Projects (IPPs) with a combined capacity of 2,400 megawatts (MW). A total of 12 Statements of Qualification were received for the 1,600 MW Misfah IPP, located in Wilayat Bousher in Muscat governorate and 800MW Duqm IPP, located in Wilayat Duqm in Al Wusta governorate. The bidders were from Saudi Arabia, UAE, Qatar, Kuwait, India, South Korea, Japan, Singapore and China. Following a thorough evaluation process, 7 applicants have been successfully qualified to participate in the upcoming tender. They include the Saudi ACWA Power Company, Korea Western Power Co Ltd, Japan's Marubeni Corporation, Qatar's Nebras Power, Singapore's Sembcorp Utilities, China's Shenzhen Energy Group, and Japan's Sumitomo Corporation. Both projects are expected to start commercial operations in the second quarter of 2029. Misfah IPP is estimated to cost OMR 590 million while Duqm IPP is expected to cost OMR 290 million. (Reporting by Nadim Kawach; Editing by Anoop Menon) (
