Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the company has delivered a mobile 30kW hydrogen fuel cell system, which volume per unit power output is reduced to 1/3 compared to the stationary fuel cell systems, to a fuel cell ship.The fuel cell ship, which passed the Temporary Navigation Permit Inspection of Japan Craft Inspection Organization on October 30…
Toshiba Completes Sale of U.S. LNG Biz
The Japanese multinational Toshiba Corp said that it has completed the sale of its liquefied natural gas (LNG) operation in the United States to French oil giant Total SA, letting go of an asset it deems risky as it continues to restructure. Toshiba, which announced the deal in June, sold Toshiba America LNG Corp. (TAL) for $15 million Friday after judging that the plan to procure…
Total Takes Over Toshiba's U.S. LNG Biz
French energy giant Total takes over the liquefied natural gas business of Japanese outfit Toshiba's Freeport LNG train tolling agreement and gains $800 million.The French oil and gas company will is paying $15 million for the shares in the Texan assets, the firms said. Toshiba will also pay Total $815 million to take over all the contracts linked to the business, Total added."It…
Senvion, Toshiba Energy Systems Form Wind Energy Alliance
Toshiba Energy Systems & Solutions Corporation and German wind turbine equipment manufacturer Senvion GmbH announced that they signed a mutually non-exclusive strategic cooperation agreement for the distribution of onshore and offshore wind power generation systems.Through this collaboration, Toshiba ESS will sell Senvion's wind power generation system in Japan, using the commercial…
Freeport LNG Delays Start of Texas Export Terminal
Freeport LNG, a privately held U.S. liquefied natural gas company, said on Thursday it pushed back the projected start date for its $13 billion export terminal under construction in Texas by about nine months to around Sept. 1, 2019.Freeport LNG now expects the first liquefaction train to enter service around Sept. 1, 2019, with the second and third trains seen in service around Jan.
Brookfield Business Partners to Buy Westinghouse for $4.6 bln
An affiliate of Canada's Brookfield Asset Management said on Thursday it would acquire Westinghouse Electric Co LLC, the bankrupt nuclear services company owned by Toshiba Corp, for $4.6 billion. Brookfield Business Partners LP and institutional partners will buy the Pittsburgh-based business using $1 billion of equity and $3 billion of long-term debt financing, according to a statement. The deal is expected to close in the third quarter.
EDF Wants to Take Part in Saudi Nuclear Plans - CEO
French state-controlled utility EDF wants to take part in Saudi Arabia's plans to build nuclear power reactors, its chief executive told Reuters on Monday. Saudi Arabia, which wants to reduce oil consumption at home, is considering building 17.6 gigawatts of nuclear-powered electricity generating capacity by 2032 and has sent a request for information to international suppliers to build two reactors.
Engie Stake Sale Deepens Doubts Over UK Nuclear Project
Toshiba has been forced to buy out French utility Engie from a project to build three nuclear reactors in Moorside, northwest England, adding to strains on the Japanese company's finances and to uncertainty over the project. Engie said on Tuesday it was exercising its right to sell its 40 percent stake in the NuGen venture to Toshiba following the bankruptcy of the Japanese firm's Westinghouse unit. Toshiba will pay 15.3 billion yen ($138.5 million) for the stake.
Toshiba's Westinghouse Files Chapter 11
Toshiba Corp's nuclear unit Westinghouse Electric Co filed for Chapter 11 bankruptcy protection in the Southern District of New York, a regulatory filing showed on Wednesday. The move comes as the firm faced billions in cost overruns and years-long delays at U.S. power projects. Reporting by Tim Kelly and Makiko Yamazaki
Toshiba chair ready to resign over Westinghouse writedowns
Toshiba Corp Chairman Shigenori Shiga is ready to step down to take responsibility for the huge writedowns looming over the Japanese group's U.S. nuclear power unit Westinghouse Electric Co LLC, the Nikkei business daily reported. Shiga was chairman of Westinghouse when the unit booked charges of $930 million in fiscal 2012 and $390 million in fiscal 2013, which Toshiba failed to flag at the time in violation of the Tokyo bourse's disclosure rules.
Japan to Supply India with Nuclear Power Equipment, Technology
Japan and India signed a civilian nuclear accord on Friday, opening the door for Tokyo to supply New Delhi with fuel, equipment and technology for nuclear power production, as India looks to atomic energy to sustain its rapid economic growth. It was the first time Japan, the only country to have suffered a nuclear attack, had concluded such a pact with a country that is not a signatory to the Nuclear Non-proliferation Treaty (NPT). "Today's signing ...
NuGen Eyes 2025 Start for UK Nuclear Project, Could Overtake Hinkley
NuGen expects electricity generation to start at its new nuclear project in Cumbria, Britain in 2025, the company said on Wednesday. The time frame means NuGen's project could over-take EDF's Hinkley C as the first new nuclear plant operating in the country in a generation. "These projects are coming up together at roughly the same time," Robert Armour, Deputy chairman of NuGen said on the sidelines of a Platts nuclear conference.
Engie Looking for Partners in Nugen UK Nuclear Project
French gas and power group Engie is looking for other partners to invest in the Nugen project to build nuclear reactors in Britain, Engie director Philippe Pradel said. Japan's Toshiba Corp and Engie are in the 60-40 percent Nugen joint venture to build three AP1000 reactors - designed by Toshiba unit Westinghouse in Britain - for the Moorside project, near the Sellafield nuclear site in west Cumbria.
EU to Seek Coal Funding Phase-out at OECD
European Union negotiators will push hard at OECD-sponsored talks next week for a robust deal to phase out subsidies that allow rich nations to export coal plant technology, EU sources said. The talks may be a final chance to end OECD export credits for coal, the most polluting of fossil fuels, before United Nations climate talks on a global deal to curb climate change, which begin on Nov. 30 in Paris.
EU Coal Subsidies Row Drags On
Issue 'an embarrassment' ahead of U.N. climate summit. Rich nations are stubbornly divided ahead of talks in Paris on Thursday to seek a deal to phase out coal subsidies in a foretaste of the difficulty of agreeing on action to curb global warming at a U.N. summit later this year. France, host of the U.N. climate summit, has piled on the political pressure to restrict a type of subsidy that helps nations export technology for power generation from coal…
EU Eyes Compromise on Coal Debate
Further OECD talks in September, EU talks Wednesday; stronger EU position could have big role in advancing debate. EU bosses are pushing to resolve a clash between industry and environmental policy with a new strategy to phase out funding to export coal technology to developing nations, ahead of a meeting of leading economic powers on the issue. The European Commission, the EU executive…
Rich Nations in Stalemate over Coal Subsidy Phase-out
Further talks planned for September; no deal would be an embarrassment ahead of U.N. climate talks. Talks on phasing out a form of coal subsidies ended in stalemate as Japan, the biggest user of the aid, led calls for more time in defiance of this week's G7 pledge on fossil fuel subsidies, sources said. The Paris-based Organisation for Economic Cooperation and Development has…
OECD: Coal Export Subsidy Deal Elusive
OECD has sought deal to phase out subsidies for a year. Germany, Japan at forefront of opposition. The world's richest nations are unlikely to reach a deal to phase out subsidies for coal exports at talks in June, reducing the chances of a new global climate change agreement at a U.N. conference in Paris, officials and campaigners say. The export credits help developed nations supply coal-fired generation and mining technology to poor nations…
Talks Continue Over Building Nuclear Reactor in Bulgaria
Westinghouse, part of Toshiba Corp, said on Thursday it had agreed with Bulgarian authorities to continue talks over the construction of a new nuclear reactor after a deadline for confirming the deal to build the unit expired. "Westinghouse Electric Company announced that, despite the expiring of the agreement for Unit 7 at Kozloduy Nuclear Plant, discussions will continue for a new structure and timeline," the company said in a statement.
India, US Trying to Get Nuclear Deal Over Line
India and the United States were trying to narrow differences on nuclear trade on Thursday ahead of President Barack Obama's visit, but New Delhi ruled out a change in its liability law that has choked off U.S. investment. Nuclear commerce worth billions of dollars was meant to be the centrepiece of a new strategic relationship between the United States and India, allowing New Delhi access to nuclear technology and fuel without giving up its weapons programme.