Repsol to implement Gen AI to implement digital use cases and reach net zero emissions

Key Insights and Signals in Energy & Utilities

NHPC inks pact for developing 7,350 MW pumped storage hydropower projects in Maharashtra
The partnership aims to achieve the national objective of energy transition and includes developing other renewable energy source projects in the state. The projects will require an investment of INR 44,000 Cr (US$ 5.3 Mn). Read More>>
Kraken contracts with Tenaska, its first U.S. licensing deal
Kraken signed its first deal in the U.S. with Tenaska Power Services to manage battery sites in Texas. The collaboration aims to enhance grid stability and optimize revenue streams. Kraken manages over 6 GW across 45,000 green energy assets and plans to expand further. Read More>>
Princeton Digital Group partners with Tata Power Renewable for a 25-year renewable energy pact
The agreement is to power its 48MW Mumbai Data Centre with renewable energy. The captive solar project, a joint investment between Princeton Digital and TPREL, will provide renewable power for the data center’s first phase. The agreement aligns with Princeton Digital’s sustainability goals and supports digital decarbonization efforts. Read More>>
Ameresco and Atura to build a 250MW battery storage system in Canada
The IESO has selected Ameresco and Atura Power to construct a 250MW/1,000 MWh battery energy storage system in Ontario, Canada. The joint venture, Napanee BESS, will be near Atura Power’s Napanee and Ontario Power Generations’ Lennox generating stations. Ameresco will provide engineering, construction, and battery installation services. Read More>>
Centre Setup and Expansion
Eneco to build a 50 MW battery storage plant in Belgium using Tesla batteries
The project will utilize Tesla battery packs, marking Eneco’s largest storage project. This project marks Eneco’s largest battery storage endeavor and highlights the growing significance of storage in accommodating renewable energy generation. Read More>>
Repsol is building the first Generative Artificial Intelligence competence center in the European energy sector
The center is to strengthen its leadership in AI applications. It will explore new possibilities and utilize disruptive AI technologies, such as large language models and image/video generation, to accelerate the energy transition. Repsol views this initiative as a vital step in its digitization journey towards achieving its zero net emissions goal by 2050. Read More>>
Executive Movements
National Grid appoints U.S. Head of Corporate Affairs
National Grid appointed Jim McGaugh as U.S. Head of Corporate Affairs, overseeing strategic priorities in Massachusetts, New York, and at the federal level. McGaugh brings extensive government and policy experience from his previous roles at GE and Citi and managing government relations for an Eversource Energy subsidiary. Read More>>
FirstEnergy names Abigail Phillips, Vice President, and Chief Risk Officer
With a background in managing risk for electric utilities, Abigail Phillips previously held roles at PSEG, Southern California Edison, Duquesne Light, and FirstEnergy. She brings expertise in enterprise risk management and regulatory work. Phillips holds a Juris Doctorate and MBA from Case Western Reserve University. Read More>>
Product Launch
Enphase Energy launched a new home energy management solution in Germany and Austria
It enables the integration of select third-party electric vehicle (EV) chargers and heat pumps into Enphase solar and battery systems. The devices maximize self-consumption through AI-based forecasting and optimization, giving homeowners more control over their energy systems. Read More>>
Financial and Market Activity
Axpo posts exceptional half-year revenues of US$ 7.2 Billion
Axpo reported total revenue of CHF 6.5 billion (US$ 7.2 billion) in the first half of the 2022/23 financial year, up from CHF 6 Billion (US$ 6.6 Bn) in the previous year. Earnings before interest and tax increased significantly from CHF 1 Billion (US$ 1.1 Bn) to CHF 3.9 Billion (US$ 4.3 Bn), while profits after tax reached CHF 3.2 Billion (US$ 3.5 Bn). Read More>>
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Latest Industry Insights from Draup Braindesk

Hydrogen Production Expansion
  • Centrica aims to stay competitive in hydrogen production and provide advanced low-carbon solutions to drive forward the clean energy transition through large-scale offshore green hydrogen production. 
  • Centrica intends to create a rich portfolio of battery and solar assets by 2026 with the production of 900MW, to accelerate green hydrogen as part of the energy transition in the UK.  
  • The company collaborates with leading companies for end-to-end hydrogen production, storage, and distribution systems to deliver improved energy efficiency and meet its net zero greenhouse gas emissions target.
Energy Storage Management
  • Centrica focuses on building a low-carbon, reliable energy system, including power-generating renewables, flexible peaking generation, and energy storage through batteries and geological storage. 
  • The company is keen on developing new energy storage and establishing new power plants to maximize grid connection, which will help secure the energy supply in the future and drive along the path to net zero.  
  • Established a next-gen virtual power plant that combines large-scale energy storage with home and SME batteries to meet the future energy demand.
Digitalized Energy Management Solutions
  • Centrica is strengthening its digital capabilities to modernize its customer service operations; smart meters and digitalized energy management systems help to create a greener and more intelligent grid alongside increasingly connected demand in customers’ homes and businesses and optimize its energy efficiency. 
  • Deploying various technologies helps manage energy procurement and risk, enabling a more flexible energy system to build the future grid. 
  • Service providers with rich expertise in delivering next-gen digital solutions across its Energy management services would find a well-built opportunity to serve Centrica.

Key Funding Alert

Xcel Energy begins construction for the massive Colorados Power Pathway project
The US$ 1.7 Billion investment includes a 550-mile transmission line and the construction of substations. The initiative supports Xcel Energy’s Clean Energy Plan and its goal of achieving an 80% reduction in carbon emissions by 2030. Read more>>

Startup Spotlight

Company – Sunvigo
Total Funding  USD 41.20 Mn
About: Sunvigo provides cheap solar power from consumers’ roofs and real green power from the grid. They pay for what they use. The company provides a free solar system. Hence there is no high acquisition cost and no high monthly payments. Read more>>

Latest Reports Published in Draup

Apache Corporation Account Intelligence Report
Apache intends to increase clean cooking fuel production that is sustainable and affordable, which improves health, reduce climatic impacts, and provides energy solution. The company is committed to maintaining safe, steady, and efficient oil and natural gas production activity levels. Read More>>
Here’s what’s new on our Sales Intelligence Platform
Introducing Outsourced Workloads and Tech Stack Developer filters in Universe
  • Effortlessly filter companies based on their outsourcing engagements using the new Outsourced Workloads filter in Universe.
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