Tag: investment
$350B plus in microgrid, EV & clean energy incentives
Supporters of the $750 B Inflation Reduction Act strongly believe that it will reap huge dividends in the battle against climate risk.
China’s State Grid to construct $22 B UHV projects
China, Beijing: The State Grid Corporation of China has announced it will start constructing a new batch of UHV projects in the second half of 2022.
Xcel wants to spend $500 M on a new power line
USA, Minesota: Xcel Energy has kicked off plans to build a roughly $500 million, 225-km power line in Minnesota.
DEWA launches 11 substations worth $466 M
UAE, Dubai: During the first half of 2022, Dubai Electricity and Water Authority (DEWA) commissioned a new 400/132 kV substation and ten 132/11 kV substations.
Power projects worth $250 B upcoming in MENA region
UAE, Dubai: Governments in the MENA countries plan to implement $250 B worth of power projects including $93 B worth of committed projects.
Volkswagen and Siemens to invest $450 M in Electrify America
USA: The Volkswagen Group and Siemens support the growth plans of Electrify America, LLC.
Entergy (ETR) to invest $15 B into grid resiliency
USA, New Orleans: Entergy Corporation’s ETR operating company, Entergy New Orleans, has announced a grid hardening and resilience projects.
Apex Group wins Octopus Investments Australia mandate
Australia: Apex Group Ltd., a financial services provider, has been appointed by Octopus Investments Australia for services focused on renewables investment.
Hitachi Energy invests $10 M in transformer manufacturing facility
USA, North Carolina, Raleigh: Hitachi Energy has announced plans to invest over $10 M in its distribution transformer facility in Jefferson City, Missouri.
Dubai to invest $1.9bn on 2035 Smart Grid Strategy
UAE, Dubai: Dubai Electricity & Water Authority (Dewa) is to invest upwards of $1.9 B (AED 7 B) on implementing its updated Smart Grid Strategy for 2021-2035.
Nigeria’s energy sector requires $410 B
Nigeria: The Vice President of Nigeria, Yemi Osinbajo, recently stated that Nigeria needs an additional $410 B to upgrade its power infrastructure.
Terna to invest $11 B into energy transition
Italy: Italy-based transmission system operator Terna has announced a $11 B (€10 B) investment in Italy’s energy transition and decarbonisation.
Iberdrola to invest $10 B in Massachusetts offshore wind
USA, Massachusetts: Iberdrola will invest more than $10 B in the development of three offshore wind complexes.
Romania’s Delgaz Grid to invest $6.5 M 5 transformer stations upgrade
Romania, Bucharest: Delgaz Grid has disclosed that it will invest 28.5 M lei ($6.5 M) into an upgrade of three power transformer stations.
Solar powering Kenya clean energy profile thanks to $35 M investment
Kenya: The Emerging Africa Infrastructure Fund (EAIF) will lend $35 M to the Kesses solar generation plant in Kenya.
Ghana needs $1 B to upgrade obsolete power transmission lines
Ghana, Accra: It will cost over $1 B to upgrade the country’s aged power transmission infrastructure – a part of which account for a majority of power outages.
PGCIL board approves $90 M investment
India: The board of directors of Power Grid Corporation of India Ltd (PGCIL) has approved two investment proposals.
EU invests over €1 B in energy infrastructure
EU, Brussels: EU countries have agreed on a Commission proposal to invest $1.16 B (€1.037 B) in 5 cross-border infrastructure projects.
DTE Energy details $7 B investment in smarter grid
USA, Michigan: DTE Energy has announced its plans for a $7 B, five-year investment in southeast Michigan’s electric grid.
FEC approves $160 M contracts for power projects
Nigeria: The Federal Executive Council (FEC) has approved $160 M (N65.39 B) billion in foreign and local denominations to execute power projects in the country.
Siemens Energy invests over €60 M in Berlin site
Germany, Berlin: Siemens Energy is investing over €60 million in a new production facility in Berlin.
Germany to invest $134.5 M into SEFA
Africa: The African Development Bank’s (AfDB) Sustainable Energy Fund for Africa (SEFA) will receive a cash injection of $134.5 M from the German government.
SSEN completes £2 M investment in Surrey
Scottish and Southern Electricity Networks' (SSEN's) multimillion-pound project is to boost the resilience of Surrey's power supply.
Substation investment in Kenya pays off for growing customer base
Kenya, Nairobi: Kenya’s electricity distribution utility, Kenya Power, has added another substation to its growing network.
