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IBM acquires Prescinto to enhance renewable energy asset management

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IBM has acquired Prescinto, a Bangalore-based provider of asset performance management (APM) software-as-a-service (SaaS) for renewable energy.  Prescinto leverages AI to streamline operations, manage clean energy and storage assets, and provide advanced monitoring and analytics. The acquisition is set to boost IBM’s Maximo Application Suite (MAS) by offering near real-time performance tracking for solar, wind, and energy storage assets, optimizing generation, and supporting clients’ sustainability and net-zero initiatives. Founded in 2016, Prescinto manages 16 GW…

Power Sector News Roundup for November 12, 2024

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Global: ACCA report warns of inadequate climate preparedness among businesses. EnBW to install a 100 MW battery storage system in Marbach, Germany. ScottishPower signs £1 billion deal with Siemens Gamesa for East Anglia 2 offshore wind farm. Entrion Wind secures US patent for FRP monopile technology. SPPC awards 7.2 GW power project contracts under Saudi Vision 2030. Energy Vault to build a 57 MW battery storage project in Texas. Nexans to sell AmerCable to Mattr…

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Origis Energy partners with TVA to expand solar + storage projects in Mississippi

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Origis Energy and the Tennessee Valley Authority (TVA) have signed a power purchase agreement to develop the Hope Solar + Storage project in Clay County, Mississippi. The project will feature a 200 MWac solar facility combined with 200 MW (800 MWh) of battery storage. The generated power will be sold to TVA to support the region’s growing population and economic development. The project is expected to become operational by the end of 2028, subject to…

Key Power Sector News Roundup for September 19, 2024

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Union Cabinet Approves Rs 91.97 Billion Bio-RIDE SchemeIndia’s Union Cabinet has greenlit the Bio-RIDE initiative to drive biotechnology and biomanufacturing innovation with a budget of Rs 91.97 billion. The scheme aims to boost India’s bioeconomy, particularly in healthcare, agriculture, and clean energy sectors. Inox Wind Secures 550 MW Wind ProjectInox Wind has won a 550 MW wind project from IGREL Renewables, expanding its order book to over 3.5 GW. The project will be developed across…

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India needs fivefold growth in wind and solar by 2030 to meet 1.5°C climate goals, analysis finds

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A new analysis by Climate Analytics and the NewClimate Institute reveals that India needs to grow its wind and solar power generation fivefold by 2030 to align with global climate goals under the 1.5°C target. This would require generating around 1,100 TWh of electricity from wind and solar by the end of the decade. To achieve this, India would need significant international climate finance to support its transition away from coal, which currently generates 75%…

Power Sector News Roundup for November 11, 2024

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Global: COP29: IEEFA urges banks to reorient lending for renewables; $400 billion annual funding shortfall identified Tongyeong Eco Power’s 1GW LNG plant begins operations in South Korea Oklo secures environmental permit for fission power plant in the United States India: Battery storage critical for India’s shift from coal; renewable capacity lags behind TERI unveils policy brief outlining India’s green hydrogen roadmap towards decarbonization India’s climate policies poised to cut 4 billion tonnes of CO₂ by…

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