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Iberdrola acquires 88% stake in Electricity North West

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Iberdrola has finalized the acquisition of an 88% stake in UK-based Electricity North West (ENW), valuing the entire company, including debt, at €5 billion ($5.4 billion). ENW serves approximately 5 million people across northwest England, including Manchester and the Lake District, managing 60,000 km of distribution networks. This acquisition is strategically significant for Iberdrola, as ENW is situated between the existing ScottishPower network regions in Scotland and areas in Merseyside and North Wales. The move…

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NKT secures contract to supply power cables for Dutch grid upgrade

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NKT has signed a significant framework agreement with Dutch distribution system operator Enexis Netbeheer to supply medium voltage (MV) power cables.   Starting in mid-2025, NKT will deliver 600km of MV power cables annually until 2033, with an option for a four-year extension. The cables will be produced primarily at NKT’s factory in Asnaes, Denmark, which is undergoing expansion to meet growing demand. Enexis, which manages over 150,000 km of electricity cables, aims to lay several…

Key Power Sector News Roundup for September 27, 2024

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Marsons Secures LoI for 150 MW Solar Plant in Rajasthan  Marsons has received an LoI from Nacof Oorja to develop a 150 MW solar PV plant in Rajasthan for Rajasthan Renewable Energy Corporation Limited under the KUSUM Scheme Megha Engineering to Invest Rs 210 Billion in Two Hydro Projects Megha Engineering & Infrastructures Ltd (MEIL) will invest Rs 210 billion in two pumped storage hydro projects in Maharashtra, totalling 4,000 MW. The Kamod and Ghosla…