TenneT

Petrofac Limited: Update on review of strategic and financial options

Retrieved on: 
Wednesday, March 13, 2024
TenneT, Growth, Sale, Security (finance)

Petrofac today provides an update with respect to its review of strategic and financial options, further to its announcements on 4 December 2023 and 20 December 2023.

Key Points: 
  • Petrofac today provides an update with respect to its review of strategic and financial options, further to its announcements on 4 December 2023 and 20 December 2023.
  • This review, which is ongoing, has the objective of materially strengthening the Company’s balance sheet, improving short-term liquidity and securing bank guarantees.
  • Furthermore, as announced on 4 December, Petrofac is making progress in exploring the sale of non-core assets.
  • To deliver on this opportunity and position Petrofac for the future, we are focused on plans to materially strengthen the financial position of the Group.

Hitachi Energy invests over 30 million euros to expand transformer operations in Germany

Retrieved on: 
Thursday, February 22, 2024
Acquisition, TenneT, Electronics, Small Business Saturday, Hitachi, Partnership, Renewable energy

Zurich, Switzerland, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Hitachi Energy today announced an investment of more than 30 million euros (approx.

Key Points: 
  • Zurich, Switzerland, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Hitachi Energy today announced an investment of more than 30 million euros (approx.
  • $32 million) in the expansion and modernization of its power transformer manufacturing facility in Bad Honnef, Germany.
  • Operational since 1906, the facility in Bad Honnef is one of Hitachi Energy’s key manufacturing locations in Europe.
  • The expansion of this factory reflects a wider scaling up of Hitachi Energy’s capacity in Europe.

Aspen Technology Helps Advance TenneT’s Energy Transition

Retrieved on: 
Wednesday, February 21, 2024
Other Energy, Utilities, Environment, Technology, Green Technology, Energy, Software, OSI, Aspen Technology, AI, Forecasting, Power management system, TenneT, PMS, Automation, Electricity, Heart, Machine learning, Partnership, Renewable energy

Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today announced a strategic technology milestone with TenneT, a leading transmission system operator in Europe providing electricity to 43 million homes and businesses.

Key Points: 
  • Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today announced a strategic technology milestone with TenneT, a leading transmission system operator in Europe providing electricity to 43 million homes and businesses.
  • TenneT recently completed implementation of its new Power Management System (PMS) which was developed using AspenTech OSI digital grid management solutions.
  • The new PMS is an important step in TenneT’s energy transition strategy to integrate more energy from renewable sources into its grid and is critical to its evolution to an intelligent power grid that can be monitored and controlled in real-time to provide reliable, sustainable, safe and secure service.
  • “The transition to a decarbonised energy economy is one of the great challenges of the modern age,” commented Mario Suykerbuyk, Chief Information Officer at TenneT.

Fluence Surpasses 20 GWh of Deployed and Contracted Battery-based Energy Storage Systems Globally

Retrieved on: 
Wednesday, January 17, 2024
Bloomberg L.P., Kilowatt-hour, Software, AGL Energy, TenneT, EnBW, Engineering, AGL, Growth, Renewable energy

ARLINGTON, Va., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimization software for renewables and storage, today announced the company has surpassed 20 GWh of deployed and contracted storage systems globally.

Key Points: 
  • ARLINGTON, Va., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimization software for renewables and storage, today announced the company has surpassed 20 GWh of deployed and contracted storage systems globally.
  • The global transition from traditional power to renewable resources is driving the need for cost-effective and flexible assets like energy storage.
  • “As we enter this new era of scale in battery energy storage, Fluence is well positioned to deliver for our customers globally.
  • Leading the industry in developing new applications for energy storage, Fluence is shaping how power networks operate and addressing challenges of the energy transition.

Enphase Energy Hosts Installer Event in the Netherlands to Accelerate Growth in the Dutch Energy Market

Retrieved on: 
Wednesday, January 10, 2024
ENPH, Electricity, Intelligence, Vandebron, Growth, RSVP, NEM, Climate change, EV, TenneT, ROI, Renewable energy

The event will include speakers from TenneT, a Dutch transmission system operator, Vandebron, an energy provider in the Netherlands, energy software experts, installers of Enphase products, and Enphase leadership.

Key Points: 
  • The event will include speakers from TenneT, a Dutch transmission system operator, Vandebron, an energy provider in the Netherlands, energy software experts, installers of Enphase products, and Enphase leadership.
  • Enphase has developed a comprehensive technology solution to meet the evolving needs of the Dutch energy market as highlighted in its white paper on the Enphase website .
  • “Our customers’ lives are constantly changing, and so are their energy usage patterns and needs,” said Bart Boelens, owner at SOLLO, an installer of Enphase products in the Netherlands.
  • The Enphase “Solar Next” event will be held at De Woonindustrie in Nieuwegein, Netherlands.

Petrofac Limited: PETROFAC AND HITACHI ENERGY ANNOUNCE SECOND PROJECT IN SUPPORT OF TENNET’S 2GW PROGRAMME

Retrieved on: 
Saturday, December 30, 2023
Framework agreement, AC, Philosophy, Hitachi, Wind, EPCI, HVDC, Element, TenneT, Engineering, Geertruidenberg, Renewable energy

The project is to be executed under a standalone contract, with Petrofac’s portion valued at around US$1.4 billion.

Key Points: 
  • The project is to be executed under a standalone contract, with Petrofac’s portion valued at around US$1.4 billion.
  • In an initial announcement earlier this year, Petrofac and Hitachi Energy reported the award of the six-project Framework Agreement.
  • Additional projects within the TenneT’s 2GW Programme are expected to be awarded at approximately six-month intervals.
  • Commenting on the award, John Pearson, Chief Operating Officer, Energy Transition Projects, Petrofac, said: “We have been collaborating with our partner Hitachi Energy, and client TenneT, on the first project, Ijmuiden Ver Alpha.

Petrofac Limited: Trading Update

Retrieved on: 
Wednesday, December 20, 2023
EBITDA, EBIT, IES, Framework agreement, TenneT, E&C, Risk, Framework, Growth, Pharmaceutical industry, Bank, Insurance, Oil, Airline, Fine chemical, Cryptocurrency, Rare-earth element

Petrofac issues the following pre-close trading update for the year ending 31 December 2023.

Key Points: 
  • Petrofac issues the following pre-close trading update for the year ending 31 December 2023.
  • Asset Solutions and IES underlying performance in line with guidance, before a one-off bad debt provision in Asset Solutions of approximately US$12 million.
  • Good progress in reaching contractual settlements in the second half, with approximately US$180 million collected year-to-date.
  • A project and commercial update will be provided with the publication of the Group’s full year results in 2024.

Petrofac Limited: Results for the six months ended 30 June 2023

Retrieved on: 
Thursday, August 10, 2023
Uncertainty, FPSO, Partnership, CNRI, Bank statement, EPC, E&C, EBIT, ADNOC, Movement, EBITDA, Work, Growth, TenneT, HVDC, Renewable energy, Airline, Construction, Cryptocurrency

This high-quality backlog, a growing talented team and a diverse pipeline of future opportunities provides Petrofac with a strong base from which to move forward.

Key Points: 
  • This high-quality backlog, a growing talented team and a diverse pipeline of future opportunities provides Petrofac with a strong base from which to move forward.
  • “After four months as CEO, I am encouraged by the energy and drive in the business.
  • The execution
    plan remains in line with the update provided with the 2022 year-end results and operational and commercials discussions with the client are ongoing.
  • Liquidity(8) was US$253 million at 30 June 2023 (31 December 2022: US$506 million).

Nexans wins record-breaking contract for the EuroAsia Interconnector

Retrieved on: 
Wednesday, July 19, 2023
Aurora, Celtic, Electricity, Transmission system, European Network of Transmission System Operators for Electricity, History, PCI, Projects of Common Interest, TenneT, HVDC, CO2, KV, Renewable energy, Tunnel, EU, Nexans, European, EuroAsia Interconnector

Subsea HVDC Mass Impregnated cables will be manufactured in Nexans’ facilities in Halden (Norway) and Futtsu (Japan) and will be installed by the state-of-the-art cable laying vessels Nexans Aurora and Nexans Skagerrak.

Key Points: 
  • Subsea HVDC Mass Impregnated cables will be manufactured in Nexans’ facilities in Halden (Norway) and Futtsu (Japan) and will be installed by the state-of-the-art cable laying vessels Nexans Aurora and Nexans Skagerrak.
  • “This record-breaking project demonstrates our capacity to innovate and push the limits of electrical transmission and distribution to meet an ever growing global need.
  • Nexans’ global electrification strategy is playing a key role in the world’s journey to a net zero future and we are excited that we have been selected to bring the development of the EuroAsia Interconnector to life”, stated Christopher Guérin, CEO of Nexans.
  • The EuroAsia Interconnector Israel-Cyprus-Greece electricity interconnector is a leading European project of common interest PCI 3.10 that ends the energy isolation of Cyprus and Israel, creates security of supply, significantly reduces the CO2 emissions, and serves the “Green Deal” of the European Commission”, said Nasos Ktorides, CEO of EuroAsia Interconnector.

TenneT and Fluence will enhance transmission capacity of the German grid with two Grid Boosters

Retrieved on: 
Tuesday, July 11, 2023
Electricity, Research, Jacob Audorf, Orangi Pilot Project, TenneT, Renewable energy, Electric power, Radiant exposure, Ottenhofen

The Grid Boosters will deploy Fluence Ultrastack, an advanced energy storage product that’s designed to meet the high asset availability requirements of critical infrastructure.

Key Points: 
  • The Grid Boosters will deploy Fluence Ultrastack, an advanced energy storage product that’s designed to meet the high asset availability requirements of critical infrastructure.
  • TenneT is integrating the two Grid Boosters into the transmission grid at two strategically located grid nodes: Audorf Süd in Schleswig-Holstein and Ottenhofen in Bavaria.
  • This allows TenneT to integrate more electricity from renewable generation, as the existing grid can be operated with a higher transmission load.
  • The integration of electricity from renewables into the transmission grid will also depend to a large extent on operating resources, with which we can flexibly control the transmission grid.