Work on the island’s first private conventional power station, promising cheaper electricity, is in full swing as the gas turbines arrived, developers Cyfield Group announced.  In an announcement, Cyfield said the 3 SGT-800 gas turbines from pioneers in electricity generators Siemens had been received at the Power Energy Cyprus plant.  “The €48 mln turbines and their generators produced by Siemens have arrived in Cyprus and are in the process of being installed.  “Three air turbines will operate with modern combined cycle technology and consume natural gas.  As Cyfield noted, the project “aims to modernise and strengthen the energy sector of Cyprus, as it will bring about the de facto liberalisation of the electricity market”.  “Cyfield with the PEC project will offer the Cypriot consumer cheaper electricity and the possibility to choose between more than one electricity supplier.  “The station will produce 25-30% of Cyprus’ electricity needs and aims to address the country’s major energy crisis”.  With an efficiency of 58% and 260MW capacity, it is estimated to significantly reduce electricity costs and help industries, companies, and households. The €200 mln plant, to be built by the Cyfield group, was initially earmarked to go online this year in time for the arrival of Liquefied Natural Gas (LNG) for power generation but will go online in 2024.  PEC will mainly use LNG provided by the state Natural Gas Public Company (DEFA), operating a floating LNG import terminal located at Vasiliko Bay, near Limassol.  The facilities at Vasiliko are the island’s first LNG terminal, and construction is yet to be completed.  In case works at Vasiliko and the arrival of LNG takes longer than initially planned, PEC’s plant can temporarily produce energy using conventional Diesel fuel.  The plant being built in the Vasiliko energy hub will have the capacity to produce 260 megawatts of electricity — Cyprus has an average capacity of 1100 MW. (ICE BEIRUT)

Fonte notizia: Financial Mirror