South Hook CHP project put on hold

South Hook CHP said the final investment decision on the project has been deferred due to market conditions.

A spokesperson for South Hook CHP said, “I can confirm that the Board of Directors of South Hook CHP Limited determined that, in the light of current market conditions, the decision regarding proceeding with the construction of the proposed South Hook combined heat and power (CHP) plant near Milford Haven, Pembrokeshire will be deferred and the project placed on hold.”

According to the spokesperson, development work will be brought to minimum levels required to maintain the integrity of the work done to date and allow the timely and efficient restart of development if required.

Nasser Al Jaidah, Chief Executive Officer, Qatar Petroleum International, speaking on behalf of the shareholders said “The decision to place the project on hold and to defer the investment decision on the South Hook CHP Project was a difficult one for the shareholders to make and reflects the fact that in the light of today’s market conditions all discretionary major investments have to be rigorously appraised.”

The proposed combined heat and power plant near Milford Haven would supply around 500MW of electricity and would also supply heat to the neighbouring LNG plant.

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Image: South Hook CHP