Electrification Industrials

Two-phase liquid cooling leader Accelsius closes $65mm of Series B funding at an unknown valuation, led by Johnson Controls ($35mm) and Legrand ($30mm). VRT ($172.39, SELL) – Liquid cooling entrant receives VC funding for Austin,…

Major Chinese solar producers are aggressively pushing for price increases across the entire value chain, citing rising costs for silver paste and raw materials. Despite these higher quotations, market transactions have largely stalled as downstream…

We understand that South Korea-based Doosan Enerbility, increasingly focused on winning a foothold in global large-scale gas turbines, has won an equipment order to provide the CCGT for a 2.4 GW power plant near Doha,…

Leading clean energy developer Matrix Renewables announced it would retain Tesla as E&C partner for its standalone 1GWh BESS in Eccles, Scotland. PRIM ($128.00, BUY) – Competitors receive full notice to proceed as E&C on…

Downstream value-chains pass on silver inflation in this week’s rally even as the upstream commodity takes a step back. Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures…

GE Vernova announced a major contract award to supply HVDC convertors for Adani Energy Solutions’ Gujarat, India renewable power transmission corridor. GEV ($661.81, BUY) – T&D India wins major India HVDC order (link)GE Vernova’s India…

Seoul, SK based Hyosung Heavy Industries announced plans to expand capacity by 50% at its 765 kV power transformer plant in Memphis, TN. GEV ($681.92, BUY) – SK-based OEM announces $157mm investment in Memphis HVDC…

Amazon has communicated to local municipalities that it will no longer be the end-user for Arizona data center Project Blue. VRT (SELL, $177.31) – Amazon exits AZ data center (link)Amazon (AMZN, not rated) will no…

While we have yet to confirm Primoris’ involvement on the project, Primoris client DESRI received a green light from local regulators to proceed with 200 MW solar + BESS project Coyote Creek in Sacramento County,…

Amazon announces an incremental $15bn investment in Northern Indiana, sponsoring another 3 GW of power generation capacity to support 2.4 GW of new data centers. GEV ($572.56, Buy) – AMZN to invest $15bn in Indiana…

GOOGL announces $40bn for 3 data centers in TX. Argan begins construction on Basin Ranch. SunZia takes delivery of GEV Onshore Wind turbines. AGX ($353.30, BUY) – Google commit $40bn to Texas (link) Google (GOOGL,…

FirstEnergy proposes a 1.2 GW CCGT & 70 MW of utility-scale solar in West Virginia. Blackstone commits $1.2bn to develop 600 MW greenfield CCGT in West Virginia. Schneider Electric brings new Energy Management capacity online…

Meta signed 3 solar PPAs totaling 1GW. Major utility signs a landmark MSA with Quanta to pursue $72bn capital plan heavy on HVDC transmission. PRIM ($126.58, BUY) – Meta inks 1GW solar PPAs (link +…

GE Vernova secured another 1.2GW of CCGT demand in Indiana. A key customer for Primoris cancels a $300mm BESS facility, possibly over NIMBY opposition. GEV ($575.14, BUY) – GEV inks 1.2GW CCGT in Indiana (link)GE…

We spoke with the head of business development at a leading gas power E&C. Pricing trends continue to inflate sequentially with even brownfield work seeing inflation. We also dissect exactly how staffing expansion happened at…