Grid and Transmission

Vattenfall Collaborates with Eramet Norway to Support the Norwegian Electricity Grid

Energy sources such as wind and solar power put new demands on the electricity system. As more weatherdependent energy increases, larger reserves are required. Nordic system operators have therefore agreed to trade in synthetic inertia or fast frequency reserve (FFR) to ensure electricity network stability. This solution means that substantial electricity consumers such as Eramet Norway can quickly reduce their electricity consumption and help to achieve stability in the power grid when there is an imbalance. Vattenfall’s goal is to enable fossil-free living within one generation. “It’s a win-win situation. The customer contributes to a fossil-free society and gets paid for it,” says Viktor Gårdö.

Statnett, the system operator of the Norwegian power system, has bought 119 MW to be used for frequency control (at a value of approx. NOK 22.5 million). Of these, Vattenfall as the single largest operator is responsible for 58 MW, together with technology supplier Sympower. The deal is worth approximately NOK 11.5 million. Eramet Norway, an electricity customer of Vattenfall, produces alloys for the world’s industrial industry. They have an FFR readiness of about 400 hours.

“This is a new, forward-looking technology that is at the same time challenging for a basic industry like ours,” says Baard Aasrum, Senior Specialist at Eramet Norway. The power system depends on a balance between production and consumption. When the system is in balance, the frequency is 50.00 Hz. If there are major disturbances in the frequency, it can cause faults in electronic equipment and power failure.

Power Grid Raises Rs 2736 Crore Through its PGInvIT

The Power Grid Corporation of India (PGCIL) has announced that it has received Rs 2,736.02 crore through the sale of 27.41 crore units in the PowerGrid Infrastructure Investment Trust (PGInvIT) offer for sale which was created to monetise its assets. The initial portfolio of assets in the InvIT comprises five special purpose vehicles (SPVs) — PowerGrid Vizag Transmission Ltd (PVTL), PowerGrid Kala Amb Transmission Ltd (PKATL), PowerGrid Parli Transmission Ltd (PPTL), PowerGrid Warora Transmission Ltd (PWTL) and PowerGrid Jabalpur Transmission Ltd (PJTL).

PGCIL, under the process of monetisation of assets through the InvIT, has transferred 74 percent of its shareholding to the PGInvIT, it said in a regulatory filing. In lieu of consideration of shareholding so transferred, units were allotted by PGInvIT to PGCIL. Out of the total 410,650,900 units allotted to PGCIL, 136,500,100 units (15 percent of total units of PGInvIT outstanding post issue, to be locked-in from the date of listing of units pursuant to InvIT Regulations) were retained by PGCIL. The remaining 27,41,50,800 units were sold by way of Offer for Sale (OFS). In April, we had reported that the Power Grid Infrastructure Investment Trust (InvIT) had fixed a price band of Rs 99-100 per unit for its Rs 7,735 crore initial share sale, which opened for public subscription on April 29, 2021. The issue will close on May 3, 2021, and the bidding for anchor investors opened on April 28, 2021.

The proceeds from the offer will be utilised for providing loans to the initial portfolio assets for repayment or prepayment of debt, including any accrued interest, and for general purposes.