Silicon Ranch extends procurement of First Solar modules to strengthen the PV supply chain

Key Insights and Signals – Energy & Utilities

ACWA Power to develop 2.6GW of solar and storage in Uzbekistan 
ACWA Power signed power purchase agreements for the projects with the Uzbek National Electricity Grids to develop 1.4 GW of solar PV and 1.2 GW of energy storage projects in Uzbekistan. The agreements cover two solar projects and three energy storage projects. Read More>>
Enefit Green awards Nordex Group with an order for 80 MW in Lithuania 
Enefit received an order from Enefit Green, a renewable energy producer in the Baltic region, to supply 14 N163/5.X turbines for the 80 MW Kelme I wind farm in Lithuania. The order also includes a 32-year Premium Service agreement for the service and maintenance of the turbines. Read More>>
First Solar and Silicon Ranch add another 1.5GW to the module supply deal 
The total supply agreed between the companies now stands at 6.2GW. Silicon Ranch has publicly committed to using US-manufactured products in its solar farms, and the partnership with First Solar will help the IPP fulfill its project portfolio through 2026-27. Read More>>
GV Developments and TAQA Arabia to provide clean energy solutions for Tarboul City development 
The agreement is part of GV Developments’ strategy to establish strong partnerships and provide clean energy sources for Tarboul City’s first phase. It aims to equip Tarboul City with a modern infrastructure that supports sustainability and meets the Fourth Industrial Revolution requirements. Read More>>
Eni and Adnoc sign agreement on the emissions reduction 
Eni and Adnoc plan to collaborate on joint projects related to the energy transition, sustainability, and decarbonization, including exploring opportunities in renewable energy, blue and green hydrogen, carbon-dioxide capture and storage, and reducing greenhouse and methane gas emissions. Read More>>
Everfuel and Hy24 join hands for hydrogen infrastructure development 
Everfuel and Hy24 will increase the production and distribution of green hydrogen in the Nordics. It plans to invest in equity in green hydrogen infrastructure in Denmark, Norway, Sweden, and Finland and boost the development of electrolyzer capacity in the region. Read More>>
Centre setup and Expansion
Indian Oil Corp to set up green hydrogen plants at all refineries 
Indian Oil plans to set up green hydrogen plants at all its refineries. The move is part of its green transition plan, worth INR 2 lakh Cr (USD 24.4 Bn), aimed at achieving net-zero emissions from its operations by 2046. Read More>>
Mergers and Acquisitions 
Irving-Based Vistra Corp. to acquire Energy Harbor 
Vistra plans to acquire Energy Harbor Corp. for USD 3 Bn in cash and a 15% equity interest. The new entity will combine Vistra’s Vistra Zero renewables and storage projects and Energy Harbor’s nuclear and retail businesses. Read More>>
Executive Movement
Eskom appoints an interim CEO 
Eskom appointed Calib Cassim as interim group chief executive. The power utility appointed him its chief financial officer in November 2018. With over 20 years of service at Eskom, his qualifications and extensive experience have given Cassim a deep understanding of the Eskom business and the electricity industry. Read More>>
Michael Lewis to become the new Chief Executive Officer of Uniper 
Uniper appointed Michael Lewis as the new CEO of Uniper SE. He has almost 30 years of experience in the energy sector, particularly with a special focus on renewable energy. It’s impressive that Michael Lewis has held various positions at E. ON since 2007, including CEO for Climate & Renewables and CEO of E. ON UK since 2017. Read More>>
Entergy names two members to its board of directors 
Entergy elected Gina Adams and John Black as new members of its board of directors. Gina Adams brings almost 40 years of legal and government affairs experience to the board and currently serves as corporate vice president of government and regulatory affairs for FedEx Corporation. Read More>>
Financial and Market Report
Petrobras 4Q profit increased Vs. the year earlier on higher crude price 
Petrobras reported an increase in profit for the fourth quarter of 2022 compared to the same period in the prior year. The increase in profit was attributed to the higher oil price, with the average price of a barrel of benchmark Brent crude oil rising from USD 79.73 a year earlier to USD 88.71 in the fourth quarter of 2022. Read More>>
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Latest Industry Insights from Draup Braindesk

EV Charging Solution 

  • Etrel, a subsidiary of Landis+Gyr, is keen on improving the EV charging management solution to deploy and power electric vehicles with green energy sources. 
  • This solution is a scalable EV charge point and energy management platform that allows for the monitoring and managing of residential, commercial, and public charging locations from a single interface. 

Next-Gen Smart Meters 

  • Landis+Gyr is committed to advancing the next-generation smart metering solutions to unlock new capabilities in analytics, connectivity, and faster response in real-time data transmission 
  • This smart meter offers electricity, gas, heat, and water management for the house and enterprise portfolio. The internet of things (IoT) communication technology is used to digitalize the tools that enable energy distribution and customer management. 

Start-up Spotlight 

Company – N2 Applied
Total Funding – USD 50.22 Mn
N2 Applied helps farmers to produce their fertilizer using slurry, air, and electricity. It developed a technology that enables local fertilizer production from liquid organic substrates such as slurry or digestate with air and electricity. Read More>>

Fundraise and Investment

Essar announces USD 3.6 Bn investment in low-carbon projects in India and the UK 
Essar will invest in low-carbon energy transition projects in the UK and India, including producing green hydrogen and ammonia. The projects will include a 1-gigawatt blue hydrogen project pursued by Vertex Hydrogen in the UK. Read More>>
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