Which company will invest in the Port Moresby energy storage project

4 FAQs about [Which company will invest in the Port Moresby energy storage project ]

How much does Port Moresby power station cost?

The Project is designed to be capable of staged expansion to approximately 175 MW with the cost for the initial 58 MW plant being ~US$100 million. This investment is underpinned by a long term Power Purchase Agreement (PPA) with PNG Power Limited. The Port Moresby Power Station during construction in October 2018.

How much does a fuel storage facility cost in Papua New Guinea?

PORT MORESBY – In a significant boost to Papua New Guinea’s (PNG) infrastructure, the United States has awarded a contract valued at approximately US$400 million (around K1.6 billion) for the development of a major fuel storage facility in Port Moresby.

Why did the US invest in a fuel storage facility in PNG?

US Ambassador Ann Marie Yastishock announced that the investment was initiated in response to a formal request from the PNG Government. She highlighted that the facility would not only meet the country''s fuel storage demands but also enhance the diversity of fuel options available in the market.

Why is png building a fuel storage facility?

“This project reflects the strength of our bilateral relationship and is the result of ongoing dialogue and collaboration with PNG,” Yastishock said. The facility is designed to hold more than 1.6 million barrels—or about 264 million litres—of fuel, significantly boosting PNG’s energy security.

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