News

The Korea Southern Power Company has signed a Memorandum of Understanding with Pakistan's Chief Minister Sindh Syed Qaim Ali Shah to establish renewable 2,000MW wind power projects in Pakistan's Sindh province. The Korean Southern Power Company (KOSPO) signed the MoU with the Sindh Board of Investment to build a 2,000MW wind power project in Gharo-Keti Bandar wind corridor in the province. KOSPO had earlier completed an initial survey of the wind corridor, reports APP. South Korea is also expected to invest in other energy projects as well as coal field development, infrastructure and mass transit system worth a total of $6 billion, according to Sindh chief minister Syed Qaim Ali Shah  

China Guodian Corp. will invest US$3 billion in the development of energy programs in southwest China's Chongqing Municipality over the next five years. According to an agreement between China Guodian Corp. and the Chongqing municipal government, the company will fund a variety of energy projects, including thermal power stations, wind power stations, natural gas power stations and biomass power stations in Chongqing and its surrounding regions. "Chongqing's fast economic growth has brought great opportunities for the development of energy," said Zhu Yongpeng, general manager of China Guodian Corp., one of the country's largest state-owned power companies. Zhu estimates that Chongqing's power consumption will grow at an annual average rate of 12.1 percent over the next five years. In 2010, energy consumption in Chongqing totalled 62.5 billion kilowatt-hours. Tong Xiaoping, vice mayor of Chongqing, said the total installed capacity of Chongqing's power stations will double to 22 million kwh by the end of 2015 to accommodate the growing demand. The full story is available at xinhuanet.com.

Normally, electricity prices should go up to reflect strong demand, but China experienced otherwise, says a report..

GCL-Poly 500MW monosilicon project is expected to take two-years to reach its initial capacity of 3,500MT.

GAIL has decided to install commercial wind power projects cumulatively contributing 200 MW to the grid.

Silecs International has closed a new round of funding totalling US$16 million.

Hitachi serving as the project leader will coordinate the companies involved.

China Huashui Development and China International Water & Electric  will supply and install wind turbines at the proposed wind farm in Thatta Sindh, Pakistan.

Australian Resources Minister Martin Ferguson asked the nation's electricity providers to replace ageing networks.

Former UN Secretary Kofi Annan presided the event in Berlin.

North Delhi Power Limited has projected its energy sales for FY 2011-12 at 6,892.13 million units.

Minister of Environment and Forests Jairam Ramesh has allowed erection of the remaining five radial gate the 400 MW Maheshwar project.

India's Lanco Infratech is seeking $5.6bn in loans to fund power generation projects in India over the next 15 months.

Pakistan and Russia on Thursday signed four Memorandum of Understandings on energy cooperation, air space, promotion of investment and cooperation in agriculture sectors. The MoU on energy cooperation was signed by Advisor to Prime Minister on Petroleum and Natural Resources Dr. Asim Hussain and Russian Minister for Energy Sergei Shnatro. The MoU on agriculture cooperation was signed by Russian Acting Minister for Agriculture Kovolev while Pakistan Minister for Agriculture and Food was represented by Pakistan envoy in Moscow Mohammad Khalid Khattak while the MoU on promotion of investment between the two countries was signed on Wednesday between the two countries by Chairman Board of Investment Salim H Mandviwala and chairman Russian National Investment Agency. President Asif Ali Zardari and his Russian counterpart Dmitry Medvedev witnessed the signing ceremony. The MoU in energy fields would encourage development of Pakistan’s oil and gas fields, development of petroleum and natural gas storages in Pakistan, improvement of Pakistan’s natural gas infrastructure, project for using natural gas as a motor fuel. A Russian Company Stroytransgaz,  as said in the joint communiqu’, has expressed keen desire to build transnational gas pipeline projects of Pakistan from Turkmenistan, Iran or Qatar. Similarly, Gazprom Geoservice Petroleum Company has agreed to construct oil and gas storage facilities and would also help in the training of Pakistani oil and gas experts and the experts of leading Russian companies have already visited Pakistan. For promotion of agriculture in Pakistan, the main Russian automobile manufacturers are interested to invest in Pakistan and the MoU on  agriculture sector would promote the agriculture sector of Pakistan. For the promotion of investment in Pakistan, Lada is interested to manufacture cars of 1300 cc, Samara to manufacture cars of 800 cc, Nova group to manufacture 800 cc cars. There is also a proposal by Russian companies Chelyabinsk and Traktorexport for manufacture of Russian tractors in Pakistan. The Russian businessmen are keen to invest in Pakistan in telecommunication, banking, energy and infrastructure building and expansion of Pakistan Steel Mills Karachi.

Pakistan opened a 330 MW nuclear plant built with the help of China.

Bangladesh signed contracts with two companies to set up three base-load power plants and one peaking plant having total generation capacity of 1167 MW.