Twenty20 Energy's Power Island Floating Storage Regasification & Power (FSRP) solution, built on the company's proprietary technology, provides an innovative energy solution to island nations and other remote, coastal areas. The first deployment of this technology will be under the PAWA PNG Powe Contact online >>
Twenty20 Energy''s Power Island Floating Storage Regasification & Power (FSRP) solution, built on the company''s proprietary technology, provides an innovative energy solution to island nations and other remote, coastal areas. The first deployment of this technology will be under the PAWA PNG Power Island Project, and will serve as proof-of-concept for similar coastal or island communities across the Asia Pacific region and around the world.
Twenty20 Energy''s Power Island FSRP consists of fuel barges, power barges and floating piers, and can be tailored to meet differing energy requirements. Twenty20''s intellectual property includes its plant and auxiliary configuration, which combines generation, fuel storage and bunkering, and transport. The floating, near shore design requires minimal land use and is ultimately mobile to accommodate near term and future expansion or redeployment needs.
The Power Island FSRP approach meets the needs of developing countries, which face increased demand for energy to support urbanization and industrialization. The solution also balances the need for affordable, scalable power generation with a desire for greener generation solutions, incorporating a proprietary combination of proven technologies which deliver fuel efficiency approaching 70%.
In Papua New Guinea and elsewhere, the Power Island FSRP will provide decades of cleaner, more reliable electricity and support national efforts of many countries to achieve energy security and independence.
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The project, owned and operated by AES Distributed Energy, consists of a 28 MW solar photovoltaic (PV) and a 100 MWh five-hour duration energy storage system. AES designed the unique DC-coupled solution, dubbed “the PV Peaker Plant,” to fully integrate PV and storage as a power plant.
Our scope of work entailed (i) conducting legal due diligence, including review and negotiation of material project documents, such as offtake agreements, EPC agreements, equipment supply agreements, O&M and service agreements, and (ii) drafting and negotiation of financing documents, including credit agreement, sponsor support agreement and security documents.
Author contributions: Conceptualization, I.M.; methodology, I.M. & G.X.; formal analysis and investigation, I.M.; writing – original draft preparation, I.M.; writing – review and editing, E.T. and G.X.; visualization, I.M. & G.X.; supervision, G.X. The authors have accepted responsibility for the entire content of this manuscript and approved its submission.
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