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UK to acquire National Grid’s Electricity System Operator

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The UK Government has agreed to purchase the National Grid’s Electricity System Operator (ESO) for £630 million ($827.95 million). The deal, expected to close by 1 October, aims to enhance energy security, reduce bills, and accelerate the clean energy transition. Once completed, the new independent National Energy System Operator (NESO) will oversee electricity and gas distribution, working with Great British Energy to integrate renewable energy into the grid. The NESO will be chaired by former…

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South Africa wins €400m for solar and wind projects from EIB and FirstRand

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Several solar and wind projects in South Africa will receive €400 million through a joint initiative between the European Investment Bank (EIB) and South Africa’s FirstRand Bank. The investment, with each party contributing €200 million, aims to enhance private sector energy generation, boost energy security, and mitigate power cuts. The funding aligns with Europe’s Global Gateway strategy, which targets €100 billion in sustainable infrastructure investments by 2027. This initiative supports South Africa’s net-zero target for…

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Qatar considers increasing stake in Iberdrola beyond 10%

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Qatar Investment Authority (QIA), with assets valued at $475 billion, is looking to increase its stake in Spain’s leading utility company, Iberdrola, from 8.8% to over 10%, according to local Spanish media reports. This move would further solidify QIA’s position as Iberdrola’s largest shareholder, surpassing BlackRock (5.395%) and Norges (3.115%). QIA began its investment in Iberdrola in 2011 with a 6.16% stake, peaking at 9.7% in 2017. Any increase in shareholding would likely only impact…

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Renewable energy developers commit massive capacity investments at RE-Invest 2024

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At the RE-Invest event in Gandhinagar, Gujarat, several renewable energy developers have made significant capacity creation commitments as part of their “Shapath Patra” agreements with the government. Reliance Industries (RIL) has pledged to set up 100,000 MW of additional renewable capacity by 2030, alongside manufacturing 20,000 MW per year of integrated solar PV and equivalent glass capacity. Other major commitments include: NTPC Ltd: 41,300 MW ReNew: 40,000 MW Adani Green Energy: 38,300 MW Hero Future…

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India secures $386 bn investment commitments for renewable energy at RE-Invest 2024

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Ministry of Renewable Energy has received investment commitments totalling $386 billion from banks and financial institutions at the RE-Invest conference in Gandhinagar, Gujarat. These investments aim to help India double its clean electricity capacity by 2030, targeting 500 GW of non-fossil capacity. ReNew, a major renewable energy company pledged to expand its renewable capacity from 10 GW to 50 GW by 2030, with 10 GW dedicated to storage. The company also plans to produce 1…

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Transformers and Rectifiers secures Rs 1.14 billion order from RRVPNL

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Transformers and Rectifiers (India) Ltd (TRIL) has secured an order worth Rs 1.14 billion from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL) to supply 50 MVA, 132/33 kV power transformers. The delivery is expected by the next financial year. This follows a Rs 910 million order from SPIL last month. TRIL, known for high-voltage transformers, has achieved significant milestones, including the world’s first 420 kV ester fluid-filled shunt reactor. With three manufacturing units in Gujarat and…

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MSEDCL awards 5 GW solar power contract to Adani Power

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Maharashtra State Electricity Distribution Company (MSEDCL) has issued a letter of intent (LoI) to Adani Power (APL) for the supply of 5,000 MW of solar power to Maharashtra. This follows Adani Group’s successful bid to supply a total of 6,600 MW, including 5,000 MW of solar power and 1,600 MW of thermal power. Adani Green Energy (AGEL) will enter into a long-term power purchase agreement (PPA) with MSEDCL to provide solar energy from the world’s…

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JSW commissions 300 MW wind power plant in Tamil Nadu

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JSW Renew Energy Two, a subsidiary of JSW Energy, has commissioned the 300 MW wind power plant at Tuticorin, Tamil Nadu. The inter-state transmission system (ISTS) project, awarded by the Solar Energy Corporation of India (SECI) under Tranche-X, is the company’s first greenfield wind power plant for SECI. An additional 150 MW of wind capacity under SECI Tranche-X, located at Dharapuram, is also nearing completion, with 138 MW already operational. With this, JSW Energy’s total…