Utilities Asset Operations Quarterly Update: January-March 2024

PUBLISHED: May 3, 2024

PAGES: 20 Pages

DELIVERY TIME: 1-2 business days

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Description

This IDC Market Perspective provides an overview of utilities' asset operations in 1Q24. It covers M&As, agreements, reorganizations, and major business developments; new financial deals; major renewables infrastructure projects; major green hydrogen projects; smart meter and smart grid initiatives; microgrid initiatives and agreements; major flexibility, EV, and battery energy storage projects; IT ecosystem major acquisitions and agreements; major IT and OT contract wins; IT product announcements; and generative AI (GenAI)."Unpredictability has become the name of the game for utilities - and the events of the past two years have changed the game. While more immediate matters such as supply security, demand efficiency, and tariff impacts on energy consumers are drawing attention from long-term initiatives, contingent factors such as extreme drought and catastrophic weather events are a vivid reminder that climate is a nonlinear factor that must be addressed with extreme urgency. Utilities will continue to prioritize their net-zero journeys and sustainability efforts, with affordability being of paramount importance," said Gaia Gallotti, associate research director, IDC Energy Insights

Product Code: US50661924

Executive Snapshot

New Market Developments and Dynamics

Situation Overview
- Hydrogen
- Business Environment, 1Q24
- Demand and Prices
  - Oil Prices
- Indicators of Renewable Performances on Financial Markets
  - Listed Utilities Performance
M&As, Agreements, Reorganizations, and Major Business Developments, 1Q24
- Vale Buys Remaining 45% Stake in Alianca Energia for $541M
- EDF Acquires Solar PV and Battery Installer
- Italy's Terna Unveils Investment Plan Guided by Twin Transition
- Italy's A2A Signs $1.3B Deal with Enel's e-distribuzione
- Depa Infrastructure Rebrands as Enaon in Greece
- Britain's National Grid ESO Announces Name of Future System Operator
New Financing Deals, 1Q24
- Iberdrola Secures $325M to Wean Coal-Heavy Countries onto Renewables
- Enea Secures Distribution Modernization and Smart Metering EIB Loan
- Lithuania Gets Energy-Independence Boost with EIB Loan to Ignitis
- EIB Finances Northvolt's Battery Factory with Over $1B
Major Renewables Infrastructure Projects, 1Q24
- Kazakhstan Signs Deals for 3GW of Wind Power
- Shanghai Electric Unit to Supply Turbines for 40MW Vietnam Wind Project
- Eni's Plenitude to Develop Offshore Wind Projects in Spain
- Corio Signs Offshore Wind MOU with Vietnamese Power Company
- Nordex Wins Large South African Wind Turbine Order
- WindEurope to Help Azerbaijan Advance Wind Build-Out
- Plenitude Completes Construction of Ravenna Ponticelle PV Plant
- Sunly Constructing 244MW Solar Park in the Baltics
- Solar Steel Wins Order for 21MW of Trackers for Spanish Solar Project
- India's SJVN Commissions 100 MW of Solar Power
- Eni Signs Strategic Agreements with Kazakh Companies
- Grid United, Hitachi Energy to Strengthen the U.S. Power Grid
- TransnetBW, Hitachi Energy Make German Grid Fit for Future
- RWE, Hitachi Energy to Accelerate the Energy Transition in Europe
Major Green Hydrogen Projects, 1Q24
- Bloom Energy, SK ecoplant Collaborate on a Major Hydrogen Project
- CS Energy Chooses GE Vernova's Gas Turbines for Hydrogen Power Plant
- MAIRE Tecnimont Wins Contract for Green Hydrogen in Portugal
- JGC Wins FEED Contract for Green Hydrogen Project in Malaysia
- Egypt Inks Seven More Agreements for Green Hydrogen Projects
- Emerson to Provide Integrated Hydrogen Mobility Technologies to H2 Hauler
Smart Meter and Smart Grid Initiatives, 1Q24
- Rhode Island Energy to Deploy 530,000 Smart Meters
- Xcel Energy Starts 200,000 Smart Meter Rollout in North and South Dakota
- ECG Replacing 450,000 Old Meters in Accra West Region
- Cyprus Set to Roll Out 400,000 Smart Meters
- Romania's 3 Retele Electrice DSOs Launch 300,000 Smart Meter Tender
- Alt HAN Smart Meter Rolling Out in Britain
- Italgas Rolls Out First 20,000 Nimbus H-Ready Smart Meters
- Severn Trent Creating a Smart Water Hub In Central England
- Spain's Aqualia to Smarten Water Meters with NB-IoT Connectivity
- GB's Essex & Suffolk Water Advances Smart Meter Rollout
Microgrid Initiatives and Agreements, 1Q24
- SDG&E Unveils Innovative Microgrids in Grid Resilience Bid
- U.S. Co-op Consortium Selected for $45M in DOE Funding for Rural Microgrid
- South African City Power to Light Up 500 Households Through Microgrid
- BayWa r.e. Completes Unique PV, Wind, and Battery Storage System in Germany
Major Flexibility, EV, and Battery Energy Storage Projects, 1Q24
- PG&E, Kaluza, Wallbox to Deliver EV Charging and V2X Program in California
- Portugal's REN to Pioneer Transmission Connected EV Charging
- Vattenfall Investing in EV Charging Infrastructure
- Vattenfall InCharge Collaborates to Create 35,000 New Public Charging Points
- E.ON Opens e-mobility Test and Innovation Centre in Germany
- Siemens Prepares One of Portugal's Tallest Buildings for the Future of eMobility
- EnergyHub, Toyota North America Partner on Grid Balancing Program
Major IT Ecosystem, IT Contract, IT Product Announcements, 1Q24
- Engineering Chooses Microsoft Azure for the new Neta Open Suite
- Froliq, Oracle Energy and Water Launch Pioneering AR App
- GE Vernova Partners with Dragos for Cybersecurity Solutions
- SGS, Generac Grid Services Collaborate to Offer DERMS Solution
- Gentrack Invests to Enhance and Globally License Amber's Solutions
- Honeywell, NXP Semiconductors to Enhance Building Energy Management
- Itron Acquires Elpis Squared
- Kaluza, Jumptech Partner to Simplify Energy Hardware Installations
- Schneider Electric, NVIDIA to Collaborate on Designs for AI Datacenters
- NERC CIP Creates Opportunities for the Power Sector to Use Cloud Technology
- Bixia Expands Trading Operations with Hansen Technologies
- EPV Expands Utilization of Hansen's Trading Solution
- PSEG Long Island Expands Partnership with Bidgely to Build Energy Efficiency Program
- Siemens Launches Gridscale X
- Salesforce Launches Clean Energy Program Management
- CGI Launches Computer Vision Solution
Utilities and GenAI, 1Q24
- Deloitte Acquires OpTeamizer
- Siemens Brings GenAI to Predictive Maintenance
- Capgemini Partners with Mistral AI
- EY, ServiceNow to Provide Solutions for GenAI Compliance, Governance, and Risk Management
- MIT LIDS Awarded Funding for GenAI for Smart Grid Modelling