BGR energy scraps power plant contract in Iraq
The Dollar Business Bureau BGR Energy Systems has canceled a $246-million order to set up a 500 MW gas turbine power plant in Iraq for Al Nasiriya. The company in its BSE filing said, “The company has now struck off a carryover contract value of $246 million from its order book." It has entered into an Engineering Procurement Construction (EPC) contract on October 13, 2013 which was valued at $246 million for the Al Nasiriya 500 MW Gas Turbine Power Plant project with the Ministry of Electricity, Iraq(MoE). According to the terms of the contract, the MoE has provided a Letter of Credit for 50 percent of the contract value in favor of BGR Energy. It has also issued a performance bond equal ...
9 revived gas-based plants to augment power capacity
The Dollar Business Bureau Augmenting the country’s existing power capacity, the Ministry of Power, GoI, on Sunday announced that it has revived 9 stranded gas-based power plants. “Government is delighted to announce the revival of 9 stranded gas based power generation plants with an installed capacity of 5942 MW, which were successfully bid through a transparent and competitive reverse e-auction process….” “These plants would generate 6.79 billion units of electricity which will be supplied at or below Rs 4.70 per unit to the purchaser Discoms during the period from 1st April 2016 to 30th September 2016,” the Ministry said in an official release. Plants termed as preferred bidders were allocated 7.62 MMSCMD e-bid Re-gasified LNG(RLNG). The auction that concluded on Sunday ...
