Vietnam’s policy to purchase power at low prices and hold a controlling stake in state-owned power projects has discouraged many foreign investors in the power sector. Vu Van Hau, project manager of investment consulting firm Vietnam Invest Network said that the firm had since early this year worked with more than 20 power investors from France, Germany, the Netherlands, the UK, the US, Japan and South Kore ...

Essar Energy is changing gears and wants to push the peddle on its laggard power business by roping in top talent from Reliance Power, Jindal Steel & Power, and GVK Power & Infrastructure, among others. It has appointed Sushil Maroo, who served as deputy managing director at JSPL and Jindal Power earlier, as its chief executive officer with effect from September 16. This is the fifth key appointment ...

Wood Group GTS has been awarded a one year contract worth $13 million by a power company in Myanmar to overhaul and upgrade three GE Frame 6B gas turbines in operation in the country's Yangon region. This is the first major contract win for Wood Group GTS in Myanmar.  The overhauls and upgrades are expected to improve the total output of the gas turbines and provide increased reliability to Myanmar's power ...

Reliance Power is on track to double its power generating capacity to 5,000 MW in the next 12 months despite very challenging times, Chairman Anil Ambani told shareholders at the company's annual general meet Tuesday. ""Inspite of all the challenges in the power sector, we are on our way to complete the Sasan ultra mega power project (UMPP). We are committed to be leaders in power and coal mining," Ambani s ...

AUSTRALIA'S second largest energy retailer AGL has raised the prospect of buying a NSW government-owned coal fired power station. The comments surprised analysts, given the current weakness in wholesale electricity prices and falling energy demand. But a jump in AGL's full year profit to $389 million in the 2012/13 financial year was driven by higher earnings from its power generation business. That was due ...

Japan has promised help construct a 500-Mega watt natural gas power plant in Yangon, according to officials. The power plant will be located in Hlaingtharyar Industrial Zone and plans to be completed by 2015. An agreement for the project was made by Japanese Minister for Economy, Trade and Industry, Mr. Toshimitsu Motegi during a meeting with Myanmar President Thein Sein. "The minister agreed to provide tec ...

Siemens Energy and its partner, GS Engineering & Construction (GS E&C), handed over the most efficient fossil-fired power plant in Asia to the South Korean power utility GS EPS Co. Ltd. The handover of Dangjin 3 (formerly Bugok 3) combined cycle power plant took place twelve days ahead of schedule. Thanks to the main components, Siemens’ world record-breaking H-class gas turbine and the special stea ...

Managing Director of Iran’s Middle East Turbine Machine Company Hassan Halali made the announcement in Tehran today. “… Manufacture of 6-megawatt and 10-megawatt turbines will be accomplished according to plans …,” Halali said. He noted that indigenizing manufacture of turbines is not only cost-effective under the conditions of the US-led sanctions against Iran, but even after the sanction are lifted it wil ...

The power generating arm of the Manila Electric Company (Meralco) is partnering with one of Thailand's largest electricity producer to build a new coal-fired power plant in Quezon province. In a disclosure to the Philippine Stock Exchange on Tuesday, Meralco said it authorized Meralco PowerGen Corporation to execute a development and other related agreements with Electricity Generation Public Company Limite ...

Opinion: By SUDHA MAHALINGAM A decade ago, three Indian companies — Reliance Industries Ltd. (RIL), Oil and Natural Gas Corporation (ONGC) and Gujarat State Petroleum Corporation (GSPC) — independently announced substantial gas discoveries in the Krishna-Godavari Basin in the Bay of Bengal. For a fuel-starved country, these discoveries were harbingers of hope and optimism. While crude imports would continue ...