Latest news with #powertransmission
CNA
11-07-2025
- Business
- CNA
Sovereign fund Danantara Indonesia, Japan's JBIC agree to jointly finance renewables, power projects
JAKARTA :Sovereign wealth fund Danantara Indonesia said on Friday it had signed a memorandum of understanding with the Japan Bank for International Cooperation to jointly finance renewable energy, water management, and power transmission projects in Indonesia.
Reuters
29-06-2025
- Business
- Reuters
Polish power grid to get $3 billion loan to build transmission lines
WARSAW, June 29 (Reuters) - Polish power grid operator PSE will on Monday sign a deal to get a loan exceeding 10.8 billion zloty ($2.99 billion) from state-owned bank BGK to build new power transmission lines, the government press office said. PSE had said in January its transmission network development plan for 2025-2034 assumes investment of over 64 billion zloty. A fund set up by BGK and the Polish climate ministry in 2024 has earmarked 70 billion zloty from the European Union recovery funds to build and upgrade the country's power transmission network. ($1 = 3.6117 zlotys)
Yahoo
28-06-2025
- Business
- Yahoo
Monongalia County Commission wants to sit down with NextEra
Jun. 27—MORGANTOWN — After being inundated in recent weeks with correspondence and public comment against a power transmission project eyeing a potential route through parts of Monongalia County, the Monongalia County Commission is seeking an audience with NextEra, the company building it. The Mid-Atlantic Resiliency Link, or MARL, is a 105-mile, 550-kilovolt "major highway " of overhead transmission lines stretching from Greene County, Pa. to Frederick County, Va. It's to be constructed by NextEra by the end of 2031. While the exact path from Point A to Point B has yet to be selected, Monongalia, Preston, Hampshire and Mineral counties are within the route selection study area in West Virginia. Maryland's Allegany and Garrett counties are also included, as is Fayette County in Pennsylvania. The project will require a 200-foot right of way along its entire length, and some residents in the potentially-impacted areas have started organizing and voicing concerns about the possibility of an "electricity superhighway " running through or near their properties. The possible impacts are made more disturbing, critics say, because rural parts of West Virginia will serve as no more than a pass-through in order to plug in a power hungry portion of northern Virginia that serves as the data center hub of the east coast. Monongalia County Commissioner Sean Sikora said representatives from NextEra initially indicated they would be in town, so the commission scheduled a work session following its June 25 meeting. "After providing that availability, we scheduled a meeting and they indicated that they weren't available, " Sikora said. "So, I relayed to them my displeasure that they didn't come to talk to us because we've been getting a lot of correspondence regarding this project, and we're not hearing from them. All we're hearing is from the public." In an emailed response, NextEra Senior Development Director Kaitlin McCormick assured the commission that no decisions have been made about the route of the project, and that the path chosen by the company will ultimately be subject to review by the public service commissions of the impacted states. Further, she reminded the commission that the company recently held eight open houses across the project study area to collect public input. Lastly, McCormick reiterated NextEra's belief that the project could generate anywhere from $150 million to $400 million in tax revenue for West Virginia and $50 million to $100 million for Monongalia depending on the route selected. McCormick and other NextEra representatives originally sat down with the commission in December to generally describe the project and let the body know Monongalia County is within its route study area. Many of the communications being received by the commission of late are highlighting the actions of its Preston County counterpart. On May 29, the Preston County Commission passed a resolution opposing the MARL project as currently proposed and urging state and federal regulators, as well as NextEra, to halt any development of the project through Preston County. Sikora has said the Mon Commission is looking into the matter. "The commission is doing its fact finding to understand all angles of the project. Just because we've been silent doesn't mean we're not getting educated on the issue, " he said. "It's the intent of this commission to generally research issues and make sure we have all the facts before we weigh in." It's expected that at least one member of the commission plans will attend a community-organized meeting planned for 1 p.m. Sunday at Rexroad Auction, located at 887 Rexroad Farm Road, in Bruceton Mills.
Forbes
19-06-2025
- Business
- Forbes
Siemens Energy's Demerged India Unit In Stock Exchange Debut, Falls 5%
The Siemens Energy logo on flags at a branch of the company in the Neuperlach district of Munich, ... More Germany (Photo: Matthias Balk) Siemens Energy's demerged Indian unit - Siemens Energy India Limited or 'SEIL' - made its stock exchange debut on Thursday, in a keenly watched emerging market move by the German vendor. The lucrative unit's demerger from its parent company saw it debut at a listing price of ₹2,840 ($32.85) per share on the National Stock Exchange of India, already up 14% on its stated discovery price of ₹2,478. Its demerger price was in the region of ₹2,350. At one point intraday, the stock rose as high as ₹2,982 given the company is expected to be India's largest listed pure-play power transmission and distribution equipment provider. However, at end of day's session the stock closed 5% lower at ₹2,735. SEIL has a firm foothold in India's lucrative and burgeoning, but extremely competitive, energy market. It supports the integration of renewable energy, modernization of the national grid, and decarbonization of key industries. As India pursues its officially stated goal of achieving net-zero emissions by 2070, SEIL said it would be part of the government's 'Make in India' initiative. The company is making what it describes as 'significant investments' in India in expanding its local manufacturing footprint, including an investment of ₹4.6 billion ($53.2 million) in its Kalwa Transformers facility. In addition, SEIL has launched a 'competency hub' to 'foster innovation in energy technologies and position India as a global innovation leader.' (Left to right) Tim Holt, member of the executive board and labour director, Siemens Energy, ... More Guilherme Mendonça, MD and CEO, Siemens Energy India Limited, and Harish Shekar, executive director & Chief Financial Officer, Siemens Energy India Limited ringing National Stock Exchange of India's ceremonial bell, joined by Ashish Chauhan, MD and CEO, National Stock Exchange of India, and Sunil Mathur, chairman of the board, Siemens Energy India Limited, during the listing of Siemens Energy India Limited on the National Stock Exchange on June 19, 2025/ Guilherme Mendonca, managing director and chief executive officer of SEIL, said: "With this listing we reaffirm our long-standing commitment to India's energy future. As India advances toward becoming a $7 trillion economy, a strong and resilient energy system will be essential. "Siemens Energy India Limited with its dedicated team is ready to support this important journey for India and its people.' Furthermore, the company which employs more than 4,000 professionals, has ten manufacturing sites and eleven regional offices, also serves neighboring countries in the South Asian subcontinent including Bhutan, Nepal, Sri Lanka and Maldives. SEIL's successful listing is also welcome news for Siemens itself and its Siemens Energy sub-unit from which the Indian unit demerged and listed on Thursday. Depending on the stock's performance, a substantial windfall may follow. As things stand, Siemens subsidiaries hold 69% in SEIL and the subsidiaries of Siemens Energy hold 6% in Siemens Energy India Limited, with the remainder in free float for retail and institutional investors alike. It is a marked contrast Siemens Energy's wind unit - Siemens Gamesa - which has been buffeted by operational headwinds and losses in the face of competition from Chinese rivals who often undercut it on prices, as acknowledged by CEO Christian Bruch last year. That unit posted another quarterly loss in April of €249 million ($285 million). Ironically, the figure included a loss from disposal of a majority stake of Siemens Gamesa's Indian (and Sri Lankan) wind business. That happened in March, when Siemens Gamesa divested 90% of the business to a TPG-led investor group, while retaining a 10% stake. The deal included transferring approximately 1,000 employees and two manufacturing plants in India to the new company. However, Siemens Energy, via Gamesa, will continue to support the new entity through a long-term technology licensing agreement.
Zawya
17-06-2025
- Business
- Zawya
Saudi: TADCO, SEC ink agreement for power transmission station
Riyadh - Tabuk Agricultural Development Company (TADCO) has signed an agreement with the National Electricity Transmission Company, a subsidiary of the Saudi Electricity Company. Under the agreement, which is valid until 31 December 2026 or until project completion, TADCO will establish a power transmission station for its farm in the Tabuk region, according to a bourse filing. The station, with a load capacity of 64 megavolt-amperes (MVA), will provide a stable electricity supply as part of the Kingdom's Liquid Fuel Displacement Program (LFDP). The initiative aligns with the objectives of the energy system as well as the environment, water, and agriculture systems to reduce reliance on liquid fuels in electricity generation. The project is expected to enhance operational efficiency, cut emissions, and improve network reliability without having a material financial impact on TADCO. In the previous year, TADCO named Majid Ahmed Ibrahim Al Suwaigh as Chairman of the board for a three-year term. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
