Mediterranean Power
Wärtsilä Oyj Abp (trading internationally as Wärtsilä Corporation), and Mediterranean infrastructure Holding have signed an exclusive partnership-agreement for the development of energy (RES) floating facilities in Greece and across the region, including ‘’the Peaker’’ LNG_Power Plant with start-up time (warm and standby) to 100% full load in less than 60 seconds.
The project has a distinctive title ‘’The Peaker’’ and it will be the first South Eastern European and Mediterranean Peaking LNG-Plant (the second in Europe). This demand and supply variation is due to the increase in renewable energy sources (wind and solar) connected to the electricity grid as part of Greece’s and regional effort to cut CO2 emissions. As such, these intermittent and unpredictable renewable sources of power pose a risk to increased fluctuations in energy supply.
Benefits of the first LNG/Gas-Hydrogen Peaking Plant: Maximize trading avenues; High efficiency / low switch-on price; Increased electrical output; Rapid start times, only seconds; Modular plug and play approach; Balance power fluctuations within the grid caused by intermittent renewable supply; Support the growth of renewable generation onto the network; Use LNG/NG and Hydrogen; Easy to relocate.
Why the ‘’Peaker’’ LNG/Gas-Hydrogen Plant needed in Greece and the Region?
The Peaker, Peak-lopping power plant, provides important balancing services where weather conditions prevent output either when the wind isn’t blowing, or the sun isn’t shining. Peaking plants address this imbalance and reduce stress on the electricity grid, providing power stability – to potentially avoid blackouts and maintain the security of electricity supply. Unlike base load power plants, reserve peak-lopping plants operate in standby mode when not in use and are called to operate by the electricity grid when there is a demand to supply electricity. Payments are made to either generate in periods of high electrical demand or reduce electrical load to balance the electricity grid.
The MOMBASA FSRU LNG to POWER & NG Transmission System Development
A proposal to the Kenyan Government by Mediterranean Infrastructure Holding.
About Wartsila:
Wärtsilä is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. Wärtsilä is the world leader in offshore Innovative Technologies and lifecycle solutions with 17.500 employees in 79 countries; 76 GW of installed engine power plant capacity; and more than 41.500 vessels with Wärtsilä equipment, including LNG, CNG, Hydrogen, Ammonia, etc. The core products of Wärtsilä include technologies for the energy sector, including gas, multi-fuel, liquid fuel and biofuel power plants and energy storage systems; and technologies for the marine sector, including cruise ships, ferries, merchant ships, navy ships, special vessels, tugs, yachts and offshore vessels.
About Mediterranean Infrastructure Holding (MIH):
MIH is a company established by Dr. Theodore E. Theodoropoulos, holding utility and commercial energy companies, with major purpose to build, develop, operate and manage in particular LNG-Hydrogen-RES Floating Energy Facilities for the support of power generation plants, industrial units, commercial activities, transportation, off grid infrastructures, islands, ports, bunkering for marine and shipping sectors. MIH targets energy security and diversification with the highest possible efficiency and lowest environmental impact.
The project will be under approval by the Regulatory Authority of Energy.