Utilities Asset Operations Quarterly Update: October-December 2023

PUBLISHED: February 22, 2024

PAGES: 19 Pages

DELIVERY TIME: 1-2 business days

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Description

This IDC Market Perspective provides an overview of utilities' asset operations in 4Q23. It covers M&As, agreements, reorganizations, and major business developments; new financial deals; major renewables infrastructure projects; major green hydrogen projects; smart meter and smart grid initiatives; microgrid initiatives and agreements; major flexibility, EV, and battery energy storage projects; IT ecosystem major acquisitions and agreements; major IT and OT contract wins; IT product announcements; and GenAI."Unpredictability has become the name of the game for utilities - and the events of the past two years have changed the game. While more immediate matters such as supply security, demand efficiency, and tariff impacts on energy consumers are drawing attention from long-term initiatives, contingent factors such as extreme drought and catastrophic weather events are a vivid reminder that climate is a nonlinear factor that must be addressed with extreme urgency. Utilities will continue to prioritize their net-zero journeys and sustainability efforts, with affordability being of paramount importance." - Associate Research Director Gaia Gallotti, IDC Energy Insights

Product Code: US51716124

Executive Snapshot

New Market Developments and Dynamics

Situation Overview
- Clean Energy and Sustainability
  - Hydrogen
  - Energy Efficiency
- Business Environment
- Demand and Prices
  - Oil Prices
- Indicators of Renewable Performances on Financial Markets
  - Listed Utilities Performance
Utilities and GenAI
M&As, Agreements, Reorganizations, and Major Business Developments
- U.K.'s Octopus Energy Launches Offshore Wind Fund with Tokyo Gas
- Galicia Launches Clean Power Utility
- Iberdrola's New York Utilities Win Approval for Reliable Energy Plan
- ENGIE Reach Deal on Extension of Tihange 3 And Doel 4 Nuclear Reactors
New Financing Deals
- Greece's HEDNO to Deploy 3.1 Million Smart Meters
- EU to Boost Gabreta Smart Grids Project with $107.6M
- EBRD Lends $87.5 million to Delgaz Grid in Romania
Major Renewables Infrastructure Projects
- South America's Floating Solar Farm Launched in Colombia
- Washington Utility PSE to Build 248MW Wind Farm in Montana
- Octopus Energy to Build Sierra Leone's First Wind Farm with Sherbro
- Ilmatar to Build 186MW Onshore Wind in Finland
- Suzlon Wins 100.8MW Wind Turbine Order in Gujarat in India
- Statkraft Starts Building 42.2MW Solar Farm in Southern Spain
- Neoen Starts Construction of Solar Farm in Australia
- Hitachi Energy Chosen for Brazil HVDC Transmission System
- Hitachi Energy's Technology Selected for Finland's Solar PV Power Plant
Major Green Hydrogen Projects
- Canadian Firm to Build $2.9 billion Green Hydrogen Project in Quebec
- ACWA Power Signs Deal for $1bn Green Hydrogen Project in Indonesia
- Australia Funds New Hydrogen Hub Project at Port Bonython
- EDF Renewables U.K. and Hynamics Get Fund for Green Hydrogen Project
Smart Meter and Smart Grid Initiatives
- Puerto Rico's 1.5 Million Smart Meter Replacement Gets Go Ahead
- Serbian DSO Selects Suppliers for 470,000 Smart Meters
- 373,000 Smart Meter Program Launched by Snohomish PUD in U.S.
- EMASESA to Deploy 77,300 Smart Water Meters in Seville
- New Jersey's TWW Launches Smart Water Meters Program
- Smart Water Metering Pilots in Western Australia
- German TSOs to Cooperate on 4 Grid Expansion Projects
- National Grid Refurbishes 170km of U.K. Transmission Network
- U.K. Power Networks Invest $7.6 Million in Substation Communications
- Enel Unveils Plan for Grid Investment
- Italgas and Tokyo Gas Agree to Develop Future Gas Distribution Networks
- Aspern Smart City Grid to Be Modeled with Digital Twin
Microgrid Initiatives and Agreements
- Canadian Government Invests in First Nation Microgrid Project
- Cuyahoga County to Launch Nation's First Microgrid Utility
- Reon Energy to Build Microgrid for Arabian Yemen Cement
Major Flexibility, EV, and Battery Energy Storage Projects
- Quebec City Chose Hitachi Energy for Centralized EV Bus Charging System
- Hitachi Energy to Deploy Ultrafast*Charging E-Mobility Solution in Italy
- Turkiye Chooses Siemens for 200 EV Fast Chargers and Digital Services
- Ford Buys EV Energy Company AMP for Charging and Battery Management
- Spain's Naturgy to Study Reusing Old EV Batteries for Stationary BESS
- Kaluza and Ovo Energy Tap Volvo for Vehicle to Everything Tech
- SDG&E and Toyota to Collaborate on Vehicle to Grid Technology
- GreenV Makes Electric Vehicle Chargers Smart with IoT Technology
- Honeywell to Provide U.S. Virgin Islands Battery Energy Storage System
Major IT Ecosystem, IT Contract, IT Product Announcements
- Cognizant Buying Thirdera in Move to Build ServiceNow Business
- Vector and AWS Extend Renewable Energy Data Platform Partnership
- Siemens Acquires BuntPlanet to Strengthen AI Portfolio in the Water Sector
- Siemens and ServiceNow Enable Cloud-Based Management of OT Assets
- Itron Joins the Green Button Alliance to Help Green Button Standard
- Goodwill Launches Major Green Jobs Program in Partnership with Accenture
- Subeca Launches Amazon Sidewalk-based Solution for Water Metering
- National Grid U.K. to Develop Digital Twin for Regional Energy Planning
- U.K. Power Networks' Smart Metering Data Moved to Azure Cloud Storage
- Varberg Energi Selects Hansen to Power Intraday Trading
- GE Vernova Awarded Service Agreement for New CCPP in Senegal
- Alectra to Deploy Itron's Distributed Intelligence Technology
- Italgas Monitors 8 Million Smart Meters with New Assurance Solution
- OpenADR 3.0 Launched for Distributed Energy Resource Management
Utilities and GenAI
- E.ON Launches GenAI 'Assistant'
- Microsoft Launches Security Copilot Early Access Program
- Microsoft Launches Two New Copilots for Service and Sales
- IBM Continues AI Push with $500M Enterprise AI Venture Fund
- Accenture Collaborates with SAP to Help Organizations Adopt GenAI
- Deloitte, ServiceNow Extend Partnership with GenAI Integration
- CGI and Google to Drive Innovation in the Responsible Use of GenAI
- Siemens and Microsoft Partner to Drive Cross-Industry AI Adoption
- Schneider Electric Drives GenAI by Integrating Microsoft Azure OpenAI
- C3 AI Expands Strategic Collaboration Agreement with AWS