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Ofgem proposes £5-8 billion fund to accelerate UK energy transmission projects

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Ofgem has launched a consultation on a proposed Advanced Procurement Mechanism (APM) that aims to invest between £5 billion and £8 billion to help Britain’s energy transmission owners reduce delays, control costs, and attract global investment in the transition to net zero. The consultation runs until December 18, 2024. The APM will allow transmission owners to procure essential equipment such as switchgear, cables, and steel years in advance, often before project finalization. This approach aims…

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Bekevar Wind Farm opens, providing 200 MW of RE in Saskatchewan

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Innagreen and Cowessess First Nation have inaugurated the Bekevar Wind Farm, a 200MW renewable energy project in Saskatchewan. Supplying enough zero-emission power to meet the needs of 100,000 homes annually, the project highlights the collaboration between commercial energy companies and Indigenous communities in Canada’s clean energy transition. Bekevar, located across Hazlewood, Kingsley, and Cowessess First Nation reserve lands, is jointly owned by Innagreen (83%) and Cowessess First Nation (17%). Featuring 36 Nordex N155/5.X turbines, the…

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UltraTech Cement expands electric truck fleet for sustainable logistics

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UltraTech Cement Limited is expanding its use of electric trucks, contracting 100 EV trucks to transport 75,000 tonnes of clinker monthly over a 400-km roundtrip between its Dhar Cement Works in Madhya Pradesh and Dhule Cement Works in Maharashtra. This initiative is projected to cut carbon emissions by 17,000 tonnes annually. The move builds on a pilot project launched in January 2024 with five EV trucks. UltraTech plans to deploy 500 EV trucks by June…

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UK’s Energy Transition: Milestones, Innovations, and Future Pathways Towards Net-Zero

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The United Kingdom’s energy sector has undergone a significant transformation in recent years, reaching a notable milestone just a few weeks ago. As of October 2024, the UK has officially closed its last coal-fired power plant, marking the end of a 142-year era of coal power generation. This milestone reflects the UK’s commitment to transitioning towards cleaner energy sources, aiming to reach net-zero emissions by 2050. Institutional structureThe United Kingdom’s energy sector is governed by…

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Neart na Gaoithe offshore wind farm generates first power for UK grid

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The 450 MW Neart na Gaoithe (NnG) offshore wind farm, located 15.5km off the coast of Fife, Scotland, has delivered its first power to the UK national grid.  Once fully operational by summer 2025, NnG will provide clean energy to 375,000 homes, offsetting over 400,000 tons of CO₂ emissions annually. The project, owned by EDF Renewables UK and Irish electricity firm ESB, will feature 54 turbines and create approximately 50 jobs during its 25-year lifespan….

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India to drive global energy demand by 2035, says IEA

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India is set to become the global engine for energy demand growth through 2035, according to the International Energy Agency’s (IEA) World Energy Outlook 2024.  The report highlights India’s rapid expansion, with the country adding more than 12,000 cars daily, increasing built space equivalent to South Africa, and seeing its air-conditioners consume more electricity than Mexico’s total power consumption by 2035. As the world’s third-largest oil consumer, India will increase oil demand by nearly 2…

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PFC Infra Finance IFSC receives approval to operate in GIFT City

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PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has been approved by the International Financial Services Centres Authority (IFSCA) to commence business as a finance company in IFSC GIFT City, Gujarat.  PIFIL will be the first finance company in the IFSC dedicated to power and infrastructure lending, providing financing in foreign currency for both government and private entities in India and abroad. The company will focus on…

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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…

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Indian Oil and EverEnviro form JV for CBG production

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Indian Oil Corporation (IOCL) has partnered with EverEnviro Resource Management to establish a joint venture (JV) focused on converting organic waste into compressed biogas (CBG).  The two companies will share equal ownership in the JV, which will integrate advanced biogas technologies to promote biofuels and support the national deployment of CBG plants. This initiative aligns with IOCL’s long-term low-carbon strategy and its goal of achieving operational net-zero emissions by 2046. In addition to the CBG…

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UK launches investment support scheme for long-duration energy storage

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The UK government has introduced a new investment support scheme to bolster the country’s energy storage infrastructure, with a focus on long-duration energy storage (LDES) technologies. These projects, including pumped storage hydro, are essential for storing renewable energy and ensuring its availability when needed, acting as giant batteries for the grid. LDES technologies have faced investment challenges due to high upfront costs despite low operational expenses. The new scheme is designed to overcome these barriers,…