Enel to increase spending on digital fibre optic networks
Enel, Europe’s largest utility, has plans to increase spending on digital networks, according to Reuters.
The networks will offer smart meters, remote home appliance controls, and car charging points.
Utilities are progressively using digital technology to allow them to more accurately manage power supply and consumption within homes, offices, and factories.
Through remotely controlling power consumption, they can effectively manage the highs and lows of demand and enable customers to cut the cost of their bills through the services they sell.
Due to the rise in renewables, companies are finding that demand dipping between highs and lows are more occurrent than ever, as well as affecting energy prices and business models.
Enel’s investment in technology in Italy will rival the company who has previously monopolised the industry in the country – Telecom Italia.
The company are also considering developing similar digital projects within Latin America.
“The unstoppable growth of renewables, digitisation of grids and regulatory change to tackle climate change are driving change from distributed generation to an energy cloud platform,” commented Head of Enel X, Francesco Venturini.
Enel has anticipated that by 2040 electricity will dominate 29% of total energy demand, rising from its current 18%.
This will be because of transportation transforming into electric, as well as heat production.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.