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Thursday, January 31, 2008
Agreement signed for Gas-Powered power generating facility in Port Elizabeth, Eastern Province, South Africa
Reported by Jaycee Kruger in South Africa
An agreement between independent power producer IPSA was signed with the South African government’s Central Energy Fund (CEF who acts as the holding company for State-owned oil company PetroSA, and iGas) to install a 521-MW open-cycle gas turbine plant outside Port Elizabeth, as well as investigating the construction of a further four plants with the same capacity and technology at a later stage, as part of the integrated energy project being developed at the Coega Industrial Development Zone (IDZ), in the Eastern Cape Province of South Africa.
In addition, the company will also proceed with its proposed 1 600-MW Coega fast-track combined-cycle gas turbine project in close collaboration with PetroSA and iGas and so achieve rapid installation of new privately financed and much needed power generation capacity in South Africa. IPSA stated that this would be in tandem with the South African government's plans for Coega to be at the "heart of a new energy centre" providing liquid fuels and liquefied natural gas (LNG) to the industrial tenants of the IDZ, it stated.
Also under the agreement, a joint working group, including PetroSA, iGas and the Department of Minerals and Energy (DME), will be established to coordinate the different parts of what will be a substantial energy development, linking fuel importation with power generation and energy distribution.
CEO Peter Earl is reported to have said: "We are pleased to have taken these first steps towards making Coega South Africa's first integrated LNG-to-power project. This is an important diversification away from the dependence on the country's Northern coal reserves" and added: "We aim to install our turbines as fast as possible to ensure uninterrupted supply of electricity in the Eastern Cape".
IPSA Group PLC ("IPSA" or "the Company") is a company incorporated in England and Wales which has been established to develop, own and manage power generation plants in southern Africa. The Company acquired the southern African power business of Independent Power Corporation ("IPC") through its acquisition of Blazeway Engineering Limited ("Blazeway") http://www.ipsagroup.co.uk.
An agreement between independent power producer IPSA was signed with the South African government’s Central Energy Fund (CEF who acts as the holding company for State-owned oil company PetroSA, and iGas) to install a 521-MW open-cycle gas turbine plant outside Port Elizabeth, as well as investigating the construction of a further four plants with the same capacity and technology at a later stage, as part of the integrated energy project being developed at the Coega Industrial Development Zone (IDZ), in the Eastern Cape Province of South Africa.
Also under the agreement, a joint working group, including PetroSA, iGas and the Department of Minerals and Energy (DME), will be established to coordinate the different parts of what will be a substantial energy development, linking fuel importation with power generation and energy distribution.
CEO Peter Earl is reported to have said: "We are pleased to have taken these first steps towards making Coega South Africa's first integrated LNG-to-power project. This is an important diversification away from the dependence on the country's Northern coal reserves" and added: "We aim to install our turbines as fast as possible to ensure uninterrupted supply of electricity in the Eastern Cape".
IPSA Group PLC ("IPSA" or "the Company") is a company incorporated in England and Wales which has been established to develop, own and manage power generation plants in southern Africa. The Company acquired the southern African power business of Independent Power Corporation ("IPC") through its acquisition of Blazeway Engineering Limited ("Blazeway") http://www.ipsagroup.co.uk.
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