EMEA Utilities Industry Quarterly Update: January-March 2024

EMEA Utilities Industry Quarterly Update: January-March 2024

This IDC Market Perspective provides an overview of the utilities industry in 1Q24, covering M&As, agreements, reorganizations, and major business developments; new financing deals; major renewables infrastructure projects; major green hydrogen projects; smart metering and smart grid initiatives; microgrid agreements; energy-efficiency initiatives; major flexibility, EV, and battery energy storage projects; IT ecosystem major acquisitions and agreements; major IT and OT contract wins; IT product announcements; utilities; and GenAI."Unpredictability has become the name of the game among utilities, and the events of the past two years have been game-changers. 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 vivid reminders that climate is a non-linear process 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," said Gaia Gallotti, associate research director, IDC Energy Insights.

Please Note: Extended description available upon request.

Executive Snapshot
New Market Developments and Dynamics
Situation Overview
Energy Efficiency
Business Environment, 1Q24
Demand and Prices
Oil Prices
Electricity Prices
Indicators of Renewable Performances on Financial Markets
Listed Utilities Performance
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
Advice for Technology Suppliers and Service Providers
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