26 C
Port Moresby
July 14, 2020
Business News

CEO of PNG Power sets priority on constant and renewable energy

 

One of the sessions on day two of the PNG Petroleum & Energy Summit, was dedicated to the domestic power needs in PNG.

Presentations looked at identifying how more value can be created in the power sector.

Acting CEO of PNG Power, Alex Oa, said the company was now looking at renewable energy sources to meet domestic electricity demands.

Much of session 5 today heard that access to power in PNG is among the worlds lowest even though PNG is now helping to power Asia through its LNG exports. Acting CEO for PNG Power, Alex Oa, said his priority is to address power availability.

He said the short term goal is to get the most out of existing renewable generation assets to save cost. The cost to install 1 MW of hydro energy is K21 million, compared to the K2 million to refurbish existing generation capacity.

Yesterday Prime Minister, Peter O’Neill, said working with ExxonMobil, PNG has been able to secure gas for electricity generation, and the opportunity to expand on this production.

Michael Uiari, General Manager Business Development, Oil Search Power, acknowledged that in PNG, power is a logistical challenge and costly exercise to implement supply infrastructure.

Currently under 20% of PNG households have access to power supply. To those that have the supply, they pay a very high price for the electricity supply. This is below world standards. PNG Power is aiming to have 100% power generation by renewable energy by 2030.

 

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