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The pandemic has highlighted the need to turn power networks into smart grids, so renewable energy is not wasted and infrastructure can cope with rising demand, Smart Grid Solutions’ Graham Ault and Stuart McGhie explain.
Investing alongside OTPP, the duo have each acquired a 40% stake in Finnish electricity distribution provider Caruna from First Sentier and OMERS.
The regulator also said underspending was a factor in the high performance of electricity transmission and gas distribution companies.
Europe’s regulatory regimes are becoming more punitive and may have reached ‘an inflection point’.
The fund manager has set targets for its seven Australian assets, covering airports, ports, a railway station and an electricity distribution business - including a 100% reduction by 2030.
High voltage electricity pole
The new regime is slightly more lenient than earlier proposals, although the regulator says consumers would save £6bn over the five-year regulatory period.
The UK energy regulator believes the decision represents ‘a better balance of risk and return’, despite industry consternation.
China Southern Power Grid International will be the second-largest shareholder in Encevo after acquiring the French fund manager’s 25.5% stake.
The $202m acquisition of Origin Energy’s Acumen marks the Australian firm’s first investment through SAF, a vehicle it is currently raising, and the launch of a new JV with Landis+Gyr.

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