EMEA Utilities Industry Quarterly Update: January-March 2024

Executive Snapshot

• Figure: Executive Snapshot: Utilities Industry Quarterly Update, January–March 2024

New Market Developments and Dynamics

• Situation Overview

• Hydrogen

• Energy Efficiency

• 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

• Electricity Prices

• Figure: Electricity Prices in Major European Power Exchanges, April 2023–March 2024

• Figure: U.S. Average Actual Residential Electricity Prices, 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

New Market Developments and Dynamics

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

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

• EDF Acquires Solar PV, Battery Installer

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

• Italy's A2A Signs $1.3 Billion Deal With Enel's e-distribuzione

• Enaon: A New Name in Greece's Gas Distribution Market

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

• New Financing Deals, 1Q24

• Iberdrola Secures $325 Million 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 $1 Billion

• 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 Buildout

• Plenitude Completes Construction of Ravenna Ponticelle Photovoltaic 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 100MW of Solar Power

• Eni Signs Strategic Agreements With Kazakh Companies

• Grid United, Hitachi Energy to Strengthen 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 the Accra West Region

• Cyprus 400,000 Smart Meter Rollout Set to Go Ahead

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

• Alt HAN Smart Metering Rollout in Britain

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

• Severn Trent Creating Smart Water Hub in Central England

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

• 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 $45 Million 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, and 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 eMobility Test and Innovation Center in Germany

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

• EnergyHub, Toyota North America Partner on Grid Balancing Program

• Energy-Efficiency and Water Conservation Initiatives and Sustainability Projects (Including Smart Cities), 1Q24

• DEWA, ESA Partner on Space-Based Applications for Utilities

• Siemens's Enlighted, Zumtobel Group Partner to Advance Smart Building Solutions

• EDF Invests in Spotr to Accelerate Housing's Decarbonization

• Major IT Ecosystem Acquisitions and Agreements, 1Q24

• Engineering Chooses Microsoft Azure for the new Neta Open Suite

• Froliq, Oracle Energy & 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

• Kraken Technologies Acquires Berlin Tech Disruptor Kwest

• 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

• IT and OT Contract Wins, 1Q24

• 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

• Gasunie Drives Sustainability, Efficiency in the Dutch Energy Sector With Microsoft Intelligent Data Platform

• IT Product Announcement, 1Q24

• 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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