IFC invests $288m in Brazil’s thermal power project

first_imgBrazil’s installed generation capacity With a best-in-class efficiency rating, GNA I will alsodisplace coal and other carbon intensive thermal power plants, thereby reducingBrazil’s carbon footprint by an estimated 139 thousand tons of CO2 equivalentemissions annually.  BRICS The plant will be linked to Brazil’s electrical grid. Theproject is part of the largest LNG-to-power complex in Latin America, and isbeing built by GNA at Port of Açu. IFC’s investment in GNA I will support the diversification of Brazil’s energymatrix, enhancing system resilience, promoting energy security, andcontributing to reliable and affordable energy. Low carbon, solar future could increase jobs in the future – SAPVIA The InternationalFinance Corporation (IFC) is providing a $288 million 15-year loan to UTE GNA IGeração de Energia (GNA I) for the development, construction and operation ofan integrated liquefied natural gas to power (LNG-to-power) facility in Portode Açu, Brazil. GNA I is designed to dispatch the plant during the dryseason and when the system needs it the most, allowing for the replenishment ofthe hydro reservoirs while promoting further penetration of renewable sourcesof energy such as solar and wind. In addition to its role as a highly-efficient and flexible power plant, GNA Iis the stepping stone to the first fully-integrated private natural gas hub inBrazil and one of only a few in Latin America. Generation The GNA I project, expected to start commercial operation in2021, consists of an integrated 1.3GW combined cycle gas turbine (CCGT)based-fired power plant, an LNG import marine terminal, a transmission line,and the expansion of an existing substation.   The development of such hub is critical for increasing the competitiveness of Brazil’s natural gas sector, which has recently been opened to private-sector investment.  “Today is a remarkable day for GNA as we celebrate the signing of IFC´s financing to the GNA I TPP. We are building and structuring a transformational project that currently employs 2,500 people, 70% of whom are local residents, and will contribute to the diversification of the Brazilian energy matrix,” says Bernardo Perseke, CEO of GNA. In addition to IFC’s loan, the financing package of GNA I includes a BRL 1.76 billion ($475 million) loan from BNDES, structured in a partnership with KfW IPEX-Bank. KfW IPEX-Bank, in turn, is supported by Euler Hermes Aktiengesellschaft, the German Export Credit Agency.  Senior manager in IFC’s infrastructure department, Lance Crist commented: “A sustainable energy matrix, resilient throughout seasonal variations, is critical for Brazil’s long-term competitiveness and economic growth.center_img Hydropower plants account for approximately 70% of Brazil’s installed generation capacity, and long droughts in recent years have highlighted the need for a more flexible and reliable mix of energy generation sources. “IFC views LNG- to-power as a global strategic priority insupporting countries to access and integrate with global energy markets, whilereducing carbon intensity of power grids, and favoring further penetration ofrenewable energy.”  RELATED ARTICLESMORE FROM AUTHOR Finance and Policy TAGSBrazilIFC Previous articleGreen industrial parks critical for China, says reportNext articleAfrican Utility Week and POWERGEN Africa announces media partnership with The Mail & Guardian Babalwa BunganeBabalwa Bungane is the content producer for ESI Africa – Clarion Events Africa. Babalwa has been writing for the publication for over five years. She also contributes to sister publications; Smart Energy International and Power Engineering International. Babalwa is a social media enthusiast. Featured image: Stock The project is being developed by GNA (Gás Natural Açu), which is a joint venture among Prumo Logística, BP and Siemens, focused on structuring, implementing and operating sustainable energy and gas projects.  AFD and Eskom commit to a competitive electricity sector UNDP China, CCIEE launch report to facilitate low-carbon developmentlast_img read more

Strong winds leave hundreds of Farmington area homes without power

first_imgHundreds of Farmington area residents are without power tonight as winds clocked at 50-60 mph swept through southeast Michigan Friday.More than two dozen smaller outages are scattered across the community. The largest affected areas are east of Orchard Lake Road between 10 and 11 Mile Roads, and east and west of Halsted Roads between 12 and 13 Mile Roads.According to DTE Energy, about 260,000 customers are affected, and the power company was still assessing damage around 7:30 p.m. No restoration estimates are available on DTE Energy’s outage map. The Detroit Free Press reported that the Oakland County International Airport in Waterford recorded a gust of 58 mph, and Detroit Metro Airport clocked a 61 mph gust. Reported by Farmington Voice Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)last_img read more

PNG bounces back to register 5-0 win over Vanuatu

first_imgSoccer Kumul Petroleum Papua New Guinea celebrated a 5-0 victory over Vanuatu in their second Group A match of the OFC U-16 championships yesterday at the Lawson Tama Stadium in Honiara, Solomon Islands. The PNG were overwhelmingly more organised than in their opener with Akaya Wadunah playing a more controlling role from the centre of defence which helped keep the side in formation and on track. After a nervous start, PNG coach Anthony Pakakota’s side soon found the swing of things and started applying pressure in the Vanuatu half. It took just six minutes for PNG to find the crack in the Vanuatu defence as Siegfried Beschel latched onto a long ball over the backline and fired it past an approaching Brendon Tankon to open the scoring. Just over 10 minutes later and PNG added a second as Renagi Ila got the final touch to put the ball over the line from a corner. Vanuatu came out of the sheds much stronger than they’d appeared in the first half, playing some decent football and stringing together some good passages of play, however they were unable to really threaten Baniau and his goal. The third goal came from just three passes after PNG won possession, played a pass through midfield before popping it on to Morris Devi who took a couple of touches before firing past Tankon. Wadunah added the fourth with a powerful shot from just outside the box into the top right corner, before Beschel made it five with a scooped shot into the top of the net. Pakakota said he didn’t make any changes to his starting lineup from Match day 1 as he tried to build his side’s confidence back up after their crushing opening defeat. “For their age, their confidence was really dented from the first game and we had to work on getting their self-confidence back up,” he said. “We wanted to be doing more quick recovery while defending and then going forward at pace. “We came here to win this game, we fixed up all the errors that we had in the first game and wanted badly to win this to give us a fighting chance in our final game against New Zealand.”last_img read more

‘Peace can be threatened’ – Chelsea outgoing transfer could cause trouble…

first_imgAlvaro Morata to Sevilla is exciting for the Spanish sport media, and especially those who follow the club closely. The striker did well at Juventus, did well at Real Madrid and is currently under a cloud at Stamford Bridge.Sections of fans have turned against Morata and an exit is looking increasingly likely.Juanma Lopez, the player’s agent, this week visited Sevilla’s offices for talks and as far as the Spanish media are concerned, the player and club side is sorted out, all that’s left is for Chelsea to agree.However, there’s already insinuations it’s a deal which doesn’t make a great deal of sense, even on a loan basis.Marca run a headline on Wednesday saying ‘Three’s a crowd’, and explain Sevilla are doing relatively well just as it is upfront.Statistics would back that up to an extent. Sevilla are the second highest scorers in La Liga so far this season, but to counter that they’ve only scored more once in one of their last six league matches.Embed from Getty ImagesAndre Silva has eight goals from 17 games in the competition, and Ben Yedder has nine goals and five assists.In December, Silva told Marca: “He (Yedder) understands me well and when I hold the ball up, it goes to him. We look at each other a lot. We are very good and we hope to continue like this.”Sevilla are described as ‘determined’ to pay the €39m which would make Silva’s loan move from AC Milan permanent, and Marca say there’s also a meeting planned to improve Yedder’s contract and up his €30m release.Putting Morata into this equation is possibly going to leave someone unhappy. The player would only arrive from Chelsea with the intention to play, and whilst the Spanish newspaper feels it can be balanced due to the number of games, there’s a question of who would start for the really important matches.Marca end their article as they started it: ‘The Sevillista peace can be threatened. Three, sometimes, they are a crowd.’by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksTrending TodayForge of Empires – Free Online GameIf You Like to Play, this Game is a Must-HaveForge of Empires – Free Online GameUndoKeto减肥1個簡單的妙招一夜「融化」腹部贅肉(今晚試試)Keto减肥UndoRaid: Shadow Legends | Free DownloadEven Non-Gamers Are Obsessed With This RPG Game (It’s Worth Installing!)Raid: Shadow Legends | Free DownloadUndo聽多多 Hearmore.asia1969年前出生的香港居民現可免費試戴頂尖的歐洲助聽器聽多多 Hearmore.asiaUndoTheTopFiveVPNEnjoy Netflix Now Without Any RestrictionsTheTopFiveVPNUndoDating.comTop Successful Single Men in Tung ChungDating.comUndoPerfect-Dating.comReveal Tung Chung As The Best City to Date for Love & RomancePerfect-Dating.comUndoCoworking Space | Search AdsThe cost of shared office in Hong Kong might surprise youCoworking Space | Search AdsUndoCNBC InternationalHere’s How Big Businesses in Singapore Are Managing the Impact of COVID-19.CNBC InternationalUndolast_img read more