How will 2020 Energy Systems acquire a stake in Papua New Guinea?

The company also plans to acquire a stake in the power plant by investing 20% of the required capital for the construction. Singapore-based Twenty20 Energy Systems is set to design and build a new gas-fired power plant in Hela province, Papua New Guinea (PNG), on behalf of Dirio Gas & Power Company.

Will 2022 build a gas-fired power plant in Papua New Guinea?

SINGAPORE, April 18, 2022 – Twenty20 Energy Systems today announced plans to design, build and maintain a 66MW, gas-fired power plant in Papua New Guinea’s Hela province on behalf of Dirio Gas & Power Company Ltd.

Why is Papua New Guinea partnering with 2020 Energy?

“Our successful partnership with Twenty20 Energy is a major milestone on the path to more and more affordable power for the residents and business interests of Papua New Guinea,” said John Tuaim, CEO of Dirio Gas & Power.

Who owns dirio power plant in Papua New Guinea?

The Dirio Gas-based 45MW power plant is 100 per cent owned by Papua New Guineans (landowners and provincial governments) from SHP, Hela, Gulf, Western and Central Provinces. Dirio power plant is West of Port Moresby, close to PNG LNG Project plant facility at Caution Bay.

What is 2020 Energy doing in PNG?

Twenty20 Energy CEO Geoff Lawrence said: “Working together with PNG government officials and local residents, we’ve been able to make great strides in transitioning regions of the country to cleaner, more reliable power supplies.

Why should Papua New Guinea continue to work with dirio?

“We will continue to work with the PNG government, Dirio, MRDC, the provincial governments, and landowners of Papua New Guinea to add much-needed power generation capacity to meet the electrification needs of the Nation in a commercially and environmentally responsible way.”