Centrica builds hydrogen-ready gas-fired peaking plant to expand its energy asset portfolio

Key Insights and Signals in Energy & Utilities

Centre Setup and Expansion
Spain’s Cepsa announces the largest second-generation biofuels plant in Europe to open in Andalucia
The plant will produce biofuels from forest residues and agricultural waste, reducing carbon emissions by up to 90% compared to traditional fuels. The plant will have an annual production capacity of 250,000 tonnes of biodiesel and biojet fuel, making a significant contribution to Spain’s goal of reaching net-zero carbon emissions by 2050. Read More>>
Gridserve opens two new EV hubs alongside Moto
The new locations bolster public charging facilities on one of the UK’s busiest motorways and bring the total number of high-power charging points to 142 across 18 of the retailer’s locations. All the firms’ Electric Hubs feature CCS and CHAdeMO connectors, accept contactless payment, and provide real-time status updates to many EV charging maps. Read More>>
Centrica builds a 20MW hydrogen-ready power plant in Redditch
The company is expanding its energy assets by constructing a 20MW hydrogen-ready gas-fired peaking plant in Worcestershire. The plant is expected to be operational later this year and will meet high or peak electricity demands or supplement low renewable energy generation. Read More>>
ACWA Power signs water purchase agreements for Rabigh 4 independent water plant in Saudi Arabia
The plant will have a production capacity of 600,000 cubic meters of water per day and will use reverse osmosis technology to desalinate seawater. The project is part of Saudi Arabia’s efforts to increase its water supply and reduce its dependence on oil. Read More>>
RWE and Northland Power choose Havfram Wind for four offshore wind projects
RWE and Northland Power have selected Havfram Wind to provide engineering and design services for four offshore wind projects in the United States. Havfram Wind will provide design and engineering services for the foundations and substructures of the wind turbines. Read More>>
Merger and Acquisition
Mexican Government to buy power plants from Spain’s Iberdrola
The purchase is part of the Mexican government’s efforts to increase its control over the country’s energy sector and reduce its dependence on foreign companies. The power plants have a combined capacity of 2.6 GW and are in Chihuahua, Nuevo Leon, and Tamaulipas. Read More>>
Masdar acquires Big Beau project stake from EDF Renewables North America
The project has a capacity of 416MW and will generate enough electricity to power 100,000 homes. The acquisition is part of Masdar’s strategy to expand its renewable energy portfolio in North America and support the transition to a low-carbon economy. Read More>>
CEB acquires 163 MW power plant from Sojitz Kelanitissa
The Ceylon Electricity Board has acquired a 163MW power plant from Sojitz Corporation in Sri Lanka. The Kelanitissa Power Plant is a combined cycle gas turbine plant that will provide electricity to the national grid. The acquisition is part of the CEB’s efforts to increase its capacity and improve the reliability of the country’s power supply. Read More>>
Bursa Malaysia and Petronas sign Memorandum of Collaboration
Bursa Malaysia, the Malaysian stock exchange, and PETRONAS, the state-owned oil and gas company, signed a Memorandum of Collaboration to develop and promote Malaysia’s capital market. The collaboration is expected to enhance the competitiveness of Malaysian businesses and contribute to the country’s economic growth. Read More>>
JERA and KOGAS strengthen LNG ties amid uncertain global energy supply
The companies plan to expand their cooperation to include joint procurement and investment in new LNG infrastructure projects. The collaboration is expected to enhance the energy security of both countries and contribute to developing a sustainable energy supply chain. Read More>>
Executive Movements
TotalEnergies names Bunmi Popoola-Mordi as the new director
Popoola-Mordi is a Nigerian national and a seasoned professional with over 20 years of experience in the energy sector. Popoola-Mordi’s appointment is expected to strengthen TotalEnergies’ presence in Nigeria, one of Africa’s key markets. Read More>>
Wayne Manuel joins the Avista executive team as VP Jim Kensok announces his retirement
Avista Corp. announced that Wayne Manuel, age 50, will join Avista as Vice President, Chief Information Officer, and Chief Security Officer on June 1, 2023. Beyond Information Technology, his responsibilities include Human Resources, Marketing, Clinical Operations, Process Improvement, Project Management, and Change Management. Read More>>
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Latest Industry Insights from Draup Braindesk

Renewable Energy Industry:
  • The drive for energy security and reduction of greenhouse gas emissions, coupled with reluctance towards traditional nuclear power and limited progress in its application, is expected to boost demand. 
  • Governments of various developing and developed countries have focused on promoting renewable energy sources due to increased output efficiency, less pollution, and low maintenance costs. 
  • All these factors collectively surge the demand for renewable energy. 
  • The industry is expected to grow at a CAGR of 8.4% over the next five years to reach a USD 1682.31 Bn market size.
Energy Management Industry:
  • Energy use across commercial, industrial, and public sector organizations has fueled the demand for energy management systems. 
  • The robust pace of digitization in the energy landscape and the paradigm shift witnessed in electrification have fostered the demand for energy management system software. 
  • With fluctuating production rates for renewable energy, the demand must be accurately forecasted, and energy production and distribution systems sustainably managed.

Key Funding Alert

Bharat Petroleum Corporation Limited to invest USD 6.7 Bn in Bina refinery
BPCL will increase the refinery’s capacity from 7.8 million tonnes per annum to 15 MTPA, making it one of the largest refineries in India. The expansion will also enhance the refinery’s capability to produce cleaner fuels and reduce its carbon footprint. Read more>>

Startup Spotlight

Company – Powervault
Total Funding  USD 10.03 Mn
About: Powervault aims to disrupt the energy storage market by supplying the first plug-and-play energy storage device, which will lower household electricity bills by up to 15%. It allows the householder to avoid purchasing unnecessary electricity from the grid. Read more>>

Latest Reports Published in Draup

Siemens Gamesa Account Intelligence Report
Siemens Gamesa is committed to efficient wind power delivery to the shore by optimizing its grid connection solution. It utilizes a converter on the high seas and a second converter on land. It uses big data to improve performance. Read More>>
Woodside Energy Account Intelligence Report
Woodside focuses on enhancing Heligen’s AI-enabled concentrated solar energy technology, which produces carbon-free heat, power, and hydrogen to help achieve sustainability goals. It plans to leverage BHP’s technical capabilities and infrastructure to scale its business operations. Read More>>
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