Feb 4, 2021

Siemens Gamesa sets gender equality and inclusion targets

SiemensGamesa
Wind
Renewables
genderequality
Dominic Ellis
2 min
Siemens Gamesa aims to improve gender equality, increase female representation and creates Global Head of Diversity role
Siemens Gamesa aims to improve gender equality, increase female representation and creates Global Head of Diversity role...

Siemens Gamesa is setting new gender equality targets after admitting the company and wind industry have "lagged" on diversity and inclusion issues. 

The renewable wind power company, which has installed more than 107GW across 75 countries, aims to raise female representation in the workforce (19% in FY20) and executive management (12% in FY20) to 25% by 2025.

With the global renewable energy industry growing faster than ever, the company's action plan, which builds on a number of policies and guidelines developed during the last three years, is built on three pillars: Diversity, Inclusion and Belonging, and Equal Opportunities. Marta Jimeno has been appointed to a new Global Head of Diversity role.

“To be truly successful, we must harness the unique skills, experiences and cultural assets of all our employees," she said. "They must feel valued and included for who they are and what they contribute to our business. That is why diversity and inclusion values must be at the heart of our decision-making and team-building and it we will put more processes and systems in place to embrace these values."

The company will seek to extend parental leave possibilities and promote LGBTI diversity, among other initiatives.

Siemens Gamesa was one of 380 companies included in the Bloomberg Gender-Equality Index (GEI) 2021, for the second year running.

Read the Top 10 Women in Energy in the March issue of Energy Digital.

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Jul 22, 2021

Octopus Renewables buys Eclipse Power

OctopusRenewables
Renewables
Acquisitions
UK
Dominic Ellis
3 min
The deal, completed with funds managed by Octopus, furthers Octopus’ involvement in the electricity distribution sector

Octopus Renewables has strengthened its electricity distribution profile by fully acquiring Eclipse Power for an undisclosed sum.

The deal, which was completed with funds managed by Octopus, furthers Octopus’ involvement in the electricity distribution sector, having worked with Eclipse since 2018. It will allow Eclipse to continue the expansion of its team, while also investing in its systems, technology, and pipeline, with the ambition of making it one of UK’s leading IDNOs.

Eclipse has secured a portfolio of more than 10,000 connections across residential, industrial, commercial, battery storage and electric vehicle charging customers. Given the focus on electrification of heat, transport and industry in the UK, Eclipse is expected to play an important role in facilitating the UK’s energy transition.

Octopus Renewables is the largest investor of utility scale solar power in Europe, as well as a leading investor in onshore wind and biomass, managing a global portfolio valued at more than £3.5 billion. Institutional investor Nest partnered with the company in March.

Peter Dias, Investment Director, Octopus Renewables, said: “Having worked with Eclipse since 2018 and seeing their exciting growth, we’re thrilled to be able to make this acquisition and support the team to maintain this momentum.

“The acquisition of Eclipse is part of our strategy to identify and back great management teams that are supporting the energy transition. With ongoing support and investment, our investee businesses will have access to the expertise, business networks and financing to be able to scale faster and help contribute towards the UK’s net-zero goals.

“High-quality management of the distribution networks is going to be critical for the UK, and we are very pleased to be directly supporting the decarbonisation of heat, transport, and industry through this acquisition of Eclipse.”

Gary Gay, Managing Director, Eclipse, added Octopus shares a clear understanding of the important role that electricity distribution networks will play in the UK’s drive towards net-zero, and importance of a customer-focussed approach for building future smart distribution networks.

“With that, we are excited to now be part of the Octopus Group, with this investment helping us to reach the next stage of our growth journey and contribute to a greener, more efficient electricity network in the UK.”

Global renewables updates

ReNew Power recently won a 200MW/ac Interstate Transmission System (ISTS) solar generation project in an auction conducted by the Maharashtra State Electricity Distribution Company. ReNew Power expects to sign a 25-Year Power Purchase Agreement with the utility by the third fiscal quarter of 2022 to supply clean energy to Maharashtra at a tariff of Rs 2.43/ kWh (~US$0.033).

Natel Energy, a supplier of sustainable hydropower solutions, has announced a $20M funding round led by Breakthrough Energy Ventures and supported by Chevron Technology Ventures.
The company will use the funding to deploy its Restoration Hydro Turbine (RHT), which enables cost-effective production of distributed reliable renewable energy.

Duke Energy Florida plans to invest an estimated $1 billion in 10 new solar power plants across Florida, including the construction of four new sites, which will begin in early 2022 and will take approximately 9 to 12 months to complete. Construction of all 10 sites is projected to be finished by late 2024.

LG Electronics has made public its commitment to transition completely to renewable energy by 2050 as a key component of its sustainability strategy. 

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