#investments

In the first six months of fiscal year 2024, TenneT increased its investments, spending €4.6 billion on growth.

ScottishPower has delivered a £1 billion boost for the energy supply chain and over £1.1 billion in investments in the first six months of 2024.

Total energy investment is expected to exceed $3 trillion for the first time.

The funds will “unlock economic growth and enable the increasingly digital, electrified and decarbonised economies of the future” and support 55000 more jobs.

Upgrades will include deploying modern grid technologies such as high-performance conductors and dynamic line ratings that enable existing transmission lines to carry more power.

The investments will gradually expand the company’s global transformer capacity by 2027.

The company wants to deliver a net zero electricity system by 2035, and is making the decisions to ensure its network is fit-for-purpose to enable the transition.

The $20 billion will be invested in projects such as home energy retrofitting programs and off-grid renewable energy in communities without access to green financing.

Around €21.5 billion will be invested into its network business, while will be invested €15.5 billion in renewables.

Terna announced plans to help the country integrate renewable energy sources into its economy and make the network digital and more flexible.

The company achieved a record high of €7.7 billion in grid investments coping with grid congestion and bottlenecks.

The investments are expected to be spread over 10 years.

The investments are necessary due to an economic boom and population increase.

Hydro One has completed upgrades to its transmission system in Ottawa, which it says will improve resiliency and reliability in the city.

Kenya, Nairobi: Kenya’s Energy Principal Secretary Alex Wachira has condemned the continued vandalism of transformers by copper thieves in the country.

Italy, San Lazzaro di Savena: Italian company Coveme has disclosed that it has made investments of $76.9 M (€70 M) in the last ten years.

Germany, Dortmund: German transmission system operator Amprion plans to invest around $24 B (€22 B) in the transmission grid over the next five years.

Ecuador: IDB energy expert José Ramón Gómez estimates the power interconnection between Ecuador and Peru will start operating in December 2026.

Peru, Lima: The Private Investment Promotion Agency (ProInversión) has announced it will award 10 power transmission projects worth $1.1 B in 2023.

Brazil, Brasilia: Brazil’s first power transmission auction in 2022 has attracted $2.9 B (15.3 B reals) in investments.