Utilities Asset Operations Quarterly Update: January–March 2024

Executive Snapshot

• Figure: Utilities Asset Operations Quarterly Update, January–March 2024

New Market Developments and Dynamics

• Situation Overview

• Hydrogen

• Business Environment, 1Q24

• Figure: Worldwide Real GDP Growth Forecasts by Region, 2024

• Demand and Prices

• Oil Prices

• Figure: Brent Oil Price and WTI Crude Oil Price Trends 12-Month Hindsight, April 2023–March 2024

• Indicators of Renewable Performances on Financial Markets

• Figure: NASDAQ Clean Edge Green Energy Total Return, April 2023-March 2024

• Listed Utilities Performance

• Figure: Dow Jones Indexes, April 2023–March 2024

• M&As, Agreements, Reorganizations, and Major Business Developments, 1Q24

• Vale Buys Remaining 45% Stake in Alianca Energia for $541M

• EDF Acquires Solar PV and Battery Installer

• Italy's Terna Unveils Investment Plan Guided by Twin Transition

• Italy's A2A Signs $1.3B Deal with Enel's e-distribuzione

• Depa Infrastructure Rebrands as Enaon in Greece

• Britain's National Grid ESO Announces Name of Future System Operator

• New Financing Deals, 1Q24

• Iberdrola Secures $325M to Wean Coal-Heavy Countries onto Renewables

• Enea Secures Distribution Modernization and Smart Metering EIB Loan

• Lithuania Gets Energy-Independence Boost with EIB Loan to Ignitis

• EIB Finances Northvolt's Battery Factory with Over $1B

• Major Renewables Infrastructure Projects, 1Q24

• Kazakhstan Signs Deals for 3GW of Wind Power

• Shanghai Electric Unit to Supply Turbines for 40MW Vietnam Wind Project

• Eni's Plenitude to Develop Offshore Wind Projects in Spain

• Corio Signs Offshore Wind MOU with Vietnamese Power Company

• Nordex Wins Large South African Wind Turbine Order

• WindEurope to Help Azerbaijan Advance Wind Build-Out

• Plenitude Completes Construction of Ravenna Ponticelle PV Plant

• Sunly Constructing 244MW Solar Park in the Baltics

• Solar Steel Wins Order for 21MW of Trackers for Spanish Solar Project

• India's SJVN Commissions 100 MW of Solar Power

• Eni Signs Strategic Agreements with Kazakh Companies

• Grid United, Hitachi Energy to Strengthen the U.S. Power Grid

• TransnetBW, Hitachi Energy Make German Grid Fit for Future

• RWE, Hitachi Energy to Accelerate the Energy Transition in Europe

• Major Green Hydrogen Projects, 1Q24

• Bloom Energy, SK ecoplant Collaborate on a Major Hydrogen Project

• CS Energy Chooses GE Vernova's Gas Turbines for Hydrogen Power Plant

• MAIRE Tecnimont Wins Contract for Green Hydrogen in Portugal

• JGC Wins FEED Contract for Green Hydrogen Project in Malaysia

• Egypt Inks Seven More Agreements for Green Hydrogen Projects

• Emerson to Provide Integrated Hydrogen Mobility Technologies to H2 Hauler

• Smart Meter and Smart Grid Initiatives, 1Q24

• Rhode Island Energy to Deploy 530,000 Smart Meters

• Xcel Energy Starts 200,000 Smart Meter Rollout in North and South Dakota

• ECG Replacing 450,000 Old Meters in Accra West Region

• Cyprus Set to Roll Out 400,000 Smart Meters

• Romania's 3 Retele Electrice DSOs Launch 300,000 Smart Meter Tender

• Alt HAN Smart Meter Rolling Out in Britain

• Italgas Rolls Out First 20,000 Nimbus H-Ready Smart Meters

• Severn Trent Creating a Smart Water Hub In Central England

• Spain's Aqualia to Smarten Water Meters with NB-IoT Connectivity

• GB's Essex & Suffolk Water Advances Smart Meter Rollout

• Microgrid Initiatives and Agreements, 1Q24

• SDG&E Unveils Innovative Microgrids in Grid Resilience Bid

• U.S. Co-op Consortium Selected for $45M in DOE Funding for Rural Microgrid

• South African City Power to Light Up 500 Households Through Microgrid

• BayWa r.e. Completes Unique PV, Wind, and Battery Storage System in Germany

• Major Flexibility, EV, and Battery Energy Storage Projects, 1Q24

• PG&E, Kaluza, Wallbox to Deliver EV Charging and V2X Program in California

• Portugal's REN to Pioneer Transmission Connected EV Charging

• Vattenfall Investing in EV Charging Infrastructure

• Vattenfall InCharge Collaborates to Create 35,000 New Public Charging Points

• E.ON Opens e-mobility Test and Innovation Centre in Germany

• Siemens Prepares One of Portugal's Tallest Buildings for the Future of eMobility

• EnergyHub, Toyota North America Partner on Grid Balancing Program

• Major IT Ecosystem, IT Contract, IT Product Announcements, 1Q24

• Engineering Chooses Microsoft Azure for the new Neta Open Suite

• Froliq, Oracle Energy and Water Launch Pioneering AR App

• GE Vernova Partners with Dragos for Cybersecurity Solutions

• SGS, Generac Grid Services Collaborate to Offer DERMS Solution

• Gentrack Invests to Enhance and Globally License Amber's Solutions

• Honeywell, NXP Semiconductors to Enhance Building Energy Management

• Itron Acquires Elpis Squared

• Kaluza, Jumptech Partner to Simplify Energy Hardware Installations

• Schneider Electric, NVIDIA to Collaborate on Designs for AI Datacenters

• NERC CIP Creates Opportunities for the Power Sector to Use Cloud Technology

• Bixia Expands Trading Operations with Hansen Technologies

• EPV Expands Utilization of Hansen's Trading Solution

• PSEG Long Island Expands Partnership with Bidgely to Build Energy Efficiency Program

• Siemens Launches Gridscale X

• Salesforce Launches Clean Energy Program Management

• CGI Launches Computer Vision Solution

• Utilities and GenAI, 1Q24

• Deloitte Acquires OpTeamizer

• Siemens Brings GenAI to Predictive Maintenance

• Capgemini Partners with Mistral AI

• EY, ServiceNow to Provide Solutions for GenAI Compliance, Governance, and Risk Management

• MIT LIDS Awarded Funding for GenAI for Smart Grid Modelling

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