Offshore Wind holds the Key for Competitive, Zero Carbon, and Large-Scale Power Generation

Posted by MarketsandMarkets on Jul 1, 2019 6:22:19 PM

Power generation using wind energy has been on the rise for the past few years, particularly in offshore locations of North America, Europe, and Asia Pacific. The rise of offshore wind energy generation is attributed to the better yields due to the high offshore wind speed. A turbine in 15-mph wind speed can generate double as much energy as a turbine in 12-mph wind speed can. Offshore wind speeds are steadier than on land wind speeds because of the large open spaces at sea.

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Topics: Energy and Power, submarine cable system market, offshore support vessel market, offshore wind market

Combined Cycle Power Plant – Efficient way for future Clean Power Generation

Posted by MarketsandMarkets on May 28, 2019 3:11:26 PM

In a major development GE has secured USD 1.0 Billion of project financing for the first independent combined cycle power plant in Sharjah, UAE. GE is working with co developers GE Energy Financial Services (GE EFS), Sumitomo Corporation of Japan, Sharjah Asset Management (SAM), the investment arm of the Government of Sharjah, and Shikoku Electric Power Company for development of power plant project. The secured financing is from leading private financial institutions of Japan, with the Japan Bank for International Cooperation (JBIC), and Japan’s export credit agency (ECA) under the insurance cover provided by government of Japan.

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Topics: Energy and Power, Gas Turbines Market

Power-to-Gas an effective way for Renewable Energy Integration

Posted by MarketsandMarkets on May 20, 2019 1:16:33 PM

The role of renewable energy is becoming more eminent in the global energy mix. The power generated by renewable energy in 2018 accounts for more than 25% globally with total installed capacity of 2,350 GW. As integration of renewable energy keeps on increasing at an average of at least 8% year on year (International Renewable Energy Agency (IRENA)), there is a lookout for newer ways to conserve and store power generated by the renewables.

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Topics: Energy and Power, battery energy storage systems, renewable energy, power-to-gas

Eaton’s acquisition of Ulusoy Elektrik in Turkey is likely to gain it more business access in the Middle East and Africa region

Posted by MarketsandMarkets on Apr 26, 2019 5:39:17 PM

Eaton completed the acquisition of a controlling interest in Ulusoy Elektrik, a medium voltage product manufacturing company in Turkey, in April 2019. This transaction happened with the purchase of shares of nearly $214 million on a cash and debt free basis. With this acquisition, Eaton is likely to gain more access to electrical products market in countries within the Middle East and Africa region.

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Topics: Energy and Power, distribution transformer market, recloser market, recloser control market

In a landmark deal, Centrica and TEPCO collaborate to augment demand response services for the Japanese power grid

Posted by MarketsandMarkets on Apr 2, 2019 7:47:21 PM

Tokyo Electric Power Company (TEPCO) and Centrica recently collaborated on demand response services with Centrica (a UK-based organization) likely to assist TEPCO with FlexPond, an electricity demand response platform, to ensure that TEPCO provides stable electricity distribution services in the Kyushu region. FlexPond will be delivered under an innovative commercial “software-as-a-service” (SaaS) model, which will allow utilities, like TEPCO, to use the application platform to build its own virtual power plants (VPPs) and deliver the demand side response capability through a variety of flexible generation and demand facilities.

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Topics: Energy and Power, virtual power plant market, TEPCO, flexpond

Electrification and renewables buoyancy across Europe will mandate huge grid resilience

Posted by MarketsandMarkets on Mar 25, 2019 6:37:49 PM

The European power system is set to change radically in the future owing to the drive to reduce carbon emissions. At the same time electrification of transportation and heating sector will create a perennial demand on the grid infrastructure.

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Topics: Energy and Power, utility asset management

Siemens acquires solar string inverter business strengthening its decentralized energy systems portfolio

Posted by MarketsandMarkets on Mar 15, 2019 9:37:53 AM

German conglomerate Siemens acquired the solar string inverter business of KACO new energy GmbH, which specializes in the field of independent and decentralized energy supply. This acquisition will strengthen the decentralized energy systems portfolio of Siemens, which will get a fresh lease of life, through this acquisition.

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Topics: Energy and Power, micro-inverter market, String Inverter Market

Total Eren Strengthens Its Renewable Energy Foothold In South Europe

Posted by MarketsandMarkets on Mar 1, 2019 6:37:02 PM

French renewable energy company Total Eren has agreed to buy Novenergia Holding Company, a Renewable power producer, in a deal worth more than 1 billion euros. Considering Total Eren’s presence in France, Greece, and Italy, it is evident that with this deal they are gifted with a massive opportunity of expanding their presence in almost the entire Southern Europe.

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Topics: Energy and Power, renewable energy

NSW Labor pledges state-owned renewable energy company to power three million homes and to cut down the state’s carbon emissions

Posted by MarketsandMarkets on Feb 21, 2019 4:00:22 PM

The New South Wales Labor party leader Michael Daley has announced that an NSW Labor government, if elected, would help supply half a million new solar systems on NSW roofs,  establish a new state-owned power company to deliver a further one gigawatt of renewable energy and storage, and deliver seven gigawatts of extra renewable energy by 2030. This will help power about three million households and cut down the state’s carbon emissions by 12%.

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Topics: Energy and Power, smart solar market, smart solar solutions

A renaissance in the clean energy space

Posted by MarketsandMarkets on Feb 12, 2019 3:22:00 PM

The power generation sector is one of the important industrial sectors which contribute to the increasing carbon foot print. When it comes to power generation, the trend is shifting from non-renewable sources of energy such as coal and crude oil toward more clean and renewable sources such as wind and solar power and many others that are at nascent stage, but likely to gravitate towards commercialization. Recent developments including a major utility holding company in the U.S., viz. Xcel Energy, to phase out all its power generation assets that use non-renewable sources and committment to becoming a 100% clean energy producer has raised eyebrows. Apart from aiming toward 100% clean generation,  there is also an increasing focus toward the use of energy efficient technologies, such as battery storage (using non-lithium ion batteries), distributed generation, electric grid modernization and advanced nuclear reactors along with hydrogen, sunlight to fuels, smart cities, biological sequestration and advanced manufacturing technologies, being the top priority clean energy innovation areas, ushering in a new era of clean energy 2.0.

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Topics: Energy and Power, battery energy storage systems, advanced energy storage systems market

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