| World news
enhancing renewable energy capacity and ensuring energy independence.
Sweden Koncar secures contracts for Swedish hydropower plants Croatian electrical equipment manufacturer Koncar Elektroindustrija has announced agreements with Swedish power company Sydkraft Hydropower and the Swedish subsidiary of Finland’s Fortum. These deals involve significant upgrades at the Balforsen and Hummelforsen hydropower plants. Koncar Generators and Motors will provide a new 46 MVA, 9.2 kV, 115.4 rpm generator for the Balforsen power plant, according to the company’s newsletter. The financial details of these contracts, signed last month, remain undisclosed. The Balforsen plant, located on the Uma River near Lycksele in northern Sweden, currently operates with two generators. Following a comprehensive feasibility study, Sydkraft Hydropower decided to expand the plant by adding a third generator. The new generator, powered by a Kaplan turbine like the existing ones, is scheduled for completion by mid-2027. Construction has already begun. In addition, Koncar will upgrade the Hummelforsen hydropower plant on the Vasterdalalven River near Vansbro. This plant, operational since 1955, will receive a new stator, cooling system, re-insulated poles, and an overhaul of other components. The project is expected to be finished by November 2026. Koncar has a history of projects with Fortum in Sweden and Finland and is currently working on revitalizing two generators at the Hermansboda hydropower plant in Sweden, with further negotiations underway for additional projects.
Kazakhstan ADB and Kazakhstan partner to boost hydropower development The Asian Development Bank (ADB) has entered into a transaction advisory services agreement with the Government of Kazakhstan for its Hydropower Development Program. ADB will work with the government to conduct pre- feasibility studies, prepare auction documents, create a template power purchasing agreement, and attract competitive bids to draw in investors. The initiative aims to prepare and auction
hydropower projects with private sector involvement for a potential total capacity of around 600MW across the Alaqol, Balkash, and Irtysh/Zaysan basins in southeastern Kazakhstan. The agreement was signed by Kazakhstan’s Minister of Energy Almassadam Satkaliyev and ADB’s Head of the Office of Markets Development and Public–Private Partnerships Cleo Kawawaki. “ADB’s support for Kazakhstan in the development of renewable energy sources,
including through increased private sector participation, is a priority within our ongoing country partnership strategy for 2023–2027,” said Kawawaki. “ADB’s focus is to assist the country’s efforts to address the impacts of climate change, promote decarbonization, and facilitate sustainable economic growth. This will help Kazakhstan achieve its goal of increasing its renewable energy capacity, reduce carbon emissions, and enhance energy security.”
Spain Elawan Energy to buy ACCIONA Energía’s Spanish hydro plants ACCIONA Energía has agreed to sell its Spanish hydroelectric portfolio to Elawan Energy, a subsidiary of ORIX Corporation, for €287 million. The deal is expected to close by the end of the year, pending approval. The portfolio, owned by Acciona Saltos de Agua, S.L. (ASA), includes 23 hydroelectric plants with a combined capacity of 175MW. These plants are located in Aragón, Cantabria, and Cataluña and have an average remaining concession life of 23 years. This sale will result in a capital gain of
approximately €170 million for ACCIONA Energía. The hydro portfolio, which accounts for 20% of ACCIONA Energía’s hydro capacity, produces about 500GWh annually. It comprises both reservoir (77%) and run-of-river (23%) plants, varying from small to medium-scale hydropower assets. Crédit Agricole served as the financial advisor to ACCIONA Energía for this transaction
Australia
SMEC awarded detailed design for Seqwater’s North Pine Dam staged strengthening project Seqwater has appointed SMEC to provide detailed design services for the North Pine Dam Staged Strengthening project. This project is crucial for ensuring the safety and water security of one of South East Queensland’s key water supply dams.
Tim McConnell, SMEC’s Queensland Manager for Water, Dams and Hydropower, stated: “We are looking forward to working collaboratively with Seqwater as the detailed design on the project gets underway. We have assembled a highly experienced team, including global specialists who can address any challenges and realise opportunities for innovation and value-based solutions.” “Seqwater is delighted to welcome SMEC
to collaborate on the North Pine Dam Staged Strengthening project, as part of its Dam Improvement Program,” added Seqwater’s Interim CEO, Will Harpham. “SMEC’s appointment brings valuable expertise to the project, and Seqwater look forward to a productive and successful partnership.” SMEC will provide specialists with expertise in concrete dam strengthening, independent
verification, engineering geology, and construction management. The company will also use a digitally enabled approach to enhance collaboration, visualize construction sequencing, and support the long-term management of the asset. Supported by Robert Bird Group for construction sequencing, temporary works design, and BIM management, and with Lombardi as the ‘Challenge Team’ to interrogate design assumptions and introduce innovations, SMEC aims to deliver a comprehensive solution.
Design work has begun, and SMEC will continue to support Seqwater during the construction phase, expected to start in 2025.
Africa Scatec sells African hydropower assets to TotalEnergies Scatec ASA has signed an agreement to sell its 51% stake in an African hydropower joint venture to TotalEnergies, aligning with its strategy to focus on core markets of solar, wind, and battery energy storage. The sale includes Scatec’s interest in the 255MW Bujagali hydropower plant in Uganda, and development projects such as the 361MW Mpatamanga in Malawi and the 206MW Ruzizi III near Rwanda, DRC, and Burundi. The joint venture was formed in 2021 with Norfund, and British International Investment (BII) joined in 2022. “Our decision to sell our African hydropower assets is in line with our strategy to focus the largest share of our investments in our core markets and on solar, wind and battery energy storage, while divesting assets in non- focus markets. We are pleased to announce today’s transaction, as we believe TotalEnergies will be a strong asset owner going forward, with the ability to further develop the projects and contribute to the energy transition in Africa,” said Terje Pilskog, Scatec CEO. “We would like to thank the entire hydropower team for their hard work and dedication over the years, you have made a significant impact. In addition, our gratitude goes to our joint venture partners, host governments, and lenders for the support.” Patrick Pouyanné, TotalEnergies Chairman and CEO, added: “This acquisition of renewable hydroelectric assets and projects in Africa reflects our desire to contribute to the continent’s energy transition by bringing electricity to the people of African countries. In particular, we are delighted to be able to become a player in hydro power in Uganda, a country where we are also developing a major oil project. This is another example of TotalEnergies’ ability to implement its multi- energy strategy in oil-producing countries to support them in their energy transition.” The transaction is subject to approval from
stakeholders, including lenders and joint venture partners, and is expected to close in the first half of 2025. Financial details of the transaction will be disclosed upon closing.
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