Looking Ahead to 2026

Intelligent power management company Eaton (NYSE:ETN) announced that David Foster has been named executive vice president and chief financial officer, effective March 2, 2026. He succeeds Olivier Leonetti who will be leaving Eaton on March 13, 2026, as part of a planned transition.

Foster re-joins Eaton after a 29-year career with the organization. “Dave brings a wealth of experience to Eaton – with a deep understanding of our operations and a unique understanding of our markets and customers at a critical time of unprecedented demand and growth,” said Eaton CEO Paulo Ruiz. “With proven experience of finance excellence, portfolio management and the ability to build organizational capability and discipline at scale, I am pleased to welcome him back to our team.”

Before retiring from Eaton in 2022, Foster held roles of increasing responsibility across the company’s finance organization, providing critical business and finance partnerships in assignments across Asia Pacific and the United States. He held roles within FP&A, Controllership, Corporate Development and Treasury, and Mergers, Acquisitions and Divestitures. In his last role with Eaton, he was senior vice president, Finance and Planning, Industrial Sector.

In commenting on his new role, Foster said, “I am looking forward to coming back to Eaton, a place I called home for nearly three decades. Eaton is at a pivotal point in its journey to become the world’s premier power management company and I am excited to be part of this next phase of growth and opportunity.”

“On behalf of the company, I want to thank Olivier for his service and wish him the best for the future,” said Ruiz.

Foster holds a bachelor’s degree from the University of Michigan and a master’s degree in Manufacturing Management from Kettering University.

Eaton | www.eaton.com

Australia is strengthening its position as one of the strategic markets for the Basque technology company Ingeteam, which has had a subsidiary in the country for more than a decade and currently holds a ~25% market share.

On this occasion, Ingeteam collaborated with ACCIONA Energía to commission ahead of schedule the Aldoga Solar Farm, a photovoltaic plant located in the state of Queensland, which generates clean electricity equivalent to the annual consumption of approximately 185,000 homes and avoid the emission of around 934,000 tonnes of CO₂ per year. 

Thanks to its extensive experience in Australia, Ingeteam actively participated in the development of simulation models, ensuring compliance with all the technical requirements for the project's grid connection. In addition, the company supplied 81 power stations, equipped with 157 central photovoltaic inverters from the INGECON SUN 3Power C Series family. Each power station was delivered as a turnkey solution, including all the low and medium voltage equipment. The PPC (Power Plant Controller) system, essential for correct grid connection, also played a key role in Ingeteam's contribution.

Jesús Echarte, Commercial Director of Ingeteam's Solar PV and BESS businesses, stated: “We are very satisfied with our role as a technological partner in this project, working alongside highly professional and well-coordinated teams. And also for having been selected to contribute our experience in simulation models, as well as our expertise in power and control electronics, to one of the most significant solar projects in the country.”

Ingeteam | www.ingeteam.com

GS Power Partners (GS Power), a leading IPP backed by CVC DIF and dedicated to building America's clean power future, announces the appointment of Raj Narayanan as Chief Financial Officer. Raj joins at a pivotal moment as GS Power continues to scale its operating portfolio, strengthen financial operations, and advance toward its long-term growth objectives. 

GS Power currently owns and operates over 400 megawatts (MW) of distributed generation (DG) solar projects across the US. As GS Power continues to grow its portfolio, Raj will lead the finance organization, focusing on building scalable processes, disciplined cost management, and financial infrastructure to support this expansion. 

Raj joins GS Power from energy storage company Convergent Energy + Power, where he served as Senior Vice President of Finance and Capital Markets. He has also held renewable energy finance roles at a range of firms, including Citi, GE Capital, and BofA Merrill Lynch.

“Raj brings the right mix of strategic finance leadership, operational rigor, and capital markets experience to support our continued growth,” said Jason Kuflik, CEO and founder of GS Power Partners. “As we continue to scale, his expertise will be critical to ensuring we grow efficiently, thoughtfully, and with long-term portfolio ROI in mind.”

Raj has deep experience working with private equity–backed energy and infrastructure businesses, helping organizations scale while maintaining discipline. His background spans capital markets, financial planning and analysis, liquidity management, risk management and platform-building for companies preparing for long-term strategic outcomes.

“The opportunity to help build upon the company’s scalable, disciplined financial platform – and ensure it can support the business as it expands – was incredibly attractive to me,” said Raj Narayanan, Chief Financial Officer of GS Power Partners. “The company already has a strong foundation, with significant scale for the DG sector.  To advance that further, my focus is on enhancing processes, controls, and efficiencies that will allow us to grow aggressively and strategically, while minimizing any increase in risk, complexity or cost.”

In addition to supporting GS Power’s expanding solar portfolio, Raj’s prior experience in energy storage positions the company well as it evaluates future opportunities in solar-plus-storage solutions as part of its longer-term strategy.

GS Power Partners | www.gspowerpartners.com

Sineng Electric has supported the commercial operation of a 300 MW / 1,200 MWh energy storage power station in Ordos City, China, after the successful completion of rigorous three-charge/three-discharge performance validation testing. Powered by Sineng’s 1250 kW central PCS featuring next-generation enhanced grid-forming technology, the project represents the world’s largest single-site grid-forming hybrid energy storage power plant, integrating multiple energy storage technologies and operating modes. 

As a key part of the region’s 3 GW / 12.8 GWh energy storage deployment, the facility employs a hybrid configuration combining Lithium Iron Phosphate (LFP) batteries with Vanadium Flow Batteries (VFBs), balancing fast power response with long-duration energy stability. Sineng’s next-generation central and string PCS solutions support grid-forming, grid-following, and off-grid operation modes, ensuring operational flexibility across complex and variable grid conditions.

Equipped with enhanced grid-forming technology, Sineng’s energy storage solution provides millisecond-level power support, virtual inertia and damping support, suppressing wide-frequency oscillations under both major and minor grid disturbances. In grid outage scenarios, the solution enables minute-level black-start functionality, allowing rapid power restoration and strengthening overall grid resilience.

Leveraging Sineng Electric’s grid-forming solution and AI-powered intelligent energy management system, the plant optimizes energy dispatch, maximizes system efficiency, lifecycle performance, and economic returns—creating sustained long-term value for customers.

Notably, Sineng Electric has successfully completed whole-station-level grid-forming testing, further validating the reliability and large-scale applicability of its advanced grid-forming technology. This achievement underscores Sineng Electric’s leadership in energy storage and its role in advancing a stable, resilient, and sustainable power system.

Sineng Electric | https://en.si-neng.com/

Willdan Group, Inc. (NASDAQ: WLDN) announced that it was selected by Mt. San Antonio College (Mt. SAC) in California to implement a $49 million energy services contract. The scope of work consists of the turnkey delivery of distributed energy resources (DERs) and infrastructure upgrades, including solar PV systems, a battery energy storage system, EV charging stations, and a comprehensive parking lot redesign. Construction is expected to be completed by the third quarter of 2027.

Willdan is listed as a qualified energy service company in the state of California and holds a Master Services Agreement with the Foundation for California Community Colleges to implement DERs at California Community Colleges – including Mt. SAC – as well as other public sector facilities.

“Sustainability is central to our mission and vision, guiding our students and staff while ensuring our campus can serve the community reliably for years to come,” said Dr. Robert Hidalgo, Mt. SAC President of the Board of Trustees. “This project reflects those values by reducing energy use, adding resiliency through local energy generation and storage, and providing the flexibility to support a future microgrid and campus electrification.”

Mt. San Antonio College | https://www.mtsac.edu/

Willdan | www.willdan.com

TurnOnGreen, Inc. (OTC: TOGI) ("TurnOnGreen" or the "Company"), announced the completion of an electric vehicle ("EV") charging infrastructure project for Foster City ("Foster City") in San Mateo County, California. The project includes multiple EVP1100 48-amp/11 kW high-powered, networked Level 2 EV charging stations capable of delivering approximately 35–40 miles of driving range per hour of charging. Foster City will utilize TurnOnGreen's cloud-based charging management software to remotely operate the chargers, monitor energy usage, generate activity reports, and track charging sessions.

This new EV charging infrastructure supports the sustainability initiatives outlined in the City's Climate Action Plan, which aims to reduce community-wide emissions to nearly 50% below 2005 levels by 2030. The chargers are available exclusively to residents of The Pilgrim, a workforce housing community located at 501 Pilgrim Drive in Foster City.

"We are excited to partner with Foster City to support its ambitious sustainability goals by delivering affordable, reliable, and customizable EV charging solutions," said Marcus Charuvastra, President of TurnOnGreen. "These chargers will help simplify the transition to electric mobility for Foster City residents."

TurnOnGreen provides scalable EV charging solutions for residential, commercial, and fleet applications across North America. The Company's EV charging hardware, management software, and network services enable municipalities, businesses, and property owners to monitor, manage, and monetize EV charging usage. TurnOnGreen's charging systems are ENERGY STAR® certified, meet rigorous industry standards, and are backed by internationally recognized safety and performance certifications.

"The installation of these EV chargers, including van-accessible spaces for vehicles displaying disability placards, provides residents of our workforce housing property with convenient and affordable charging options," said Sofia Mangalam, Community Development Director for Foster City. "We are also grateful to Peninsula Clean Energy for its incentive program and technical assistance in supporting this project."

According to the California Energy Commission, more than 1.01 million public and shared private chargers will be required to support a projected 7.1 million passenger plug-in EVs in California by 2030.

TurnOnGreen | www.turnongreen.com

Caribbean Transmission Development Company (CTDC) announced it has received the Presidential Permit from the U.S. Department of Energy for Project Hostos, a transformative 500MW high-voltage direct current (HVDC) submarine interconnection cable that will deliver firm, dispatchable power from the Dominican Republic to Puerto Rico beginning in 2031.

The Presidential Permit, required for all cross-border energy transmission facilities under Executive Order 10485, represents a critical federal validation that unlocks the path for significant private capital deployment for Caribbean energy infrastructure. The permit authorizes CTDC to construct, operate, and maintain transmission facilities crossing the international maritime boundary in the Mona Passage, following a comprehensive interagency review process coordinated by the U.S. Department of Energy.

Investment Structure and Benefits

Project Hostos is structured as a 100% privately financed initiative. The total project cost of $2.5 billion is allocated across key components:

• 500MW combined-cycle power plant
• 90 km of overhead 345kv AC transmission line
• 150 km of subsea 320kv HVDC transmission line
• 6 km cable stretching from the port of Mayagüez in western Puerto Rico, underground, rising to interconnect with the electric grid at the Mayagüez Substation
• AC-to-DC Converter Stations

"Atabey Capital's early commitment to Project Hostos reflects our conviction that private capital must lead Puerto Rico's energy transformation," said Rafael Vélez, founder and President of Atabey Capital, the Puerto Rico-based investment firm that serves as CTDC's founding investor and principal partner. "As a Puerto Rican company, we understood that our island's energy crisis requires bold, market-driven solutions that don't depend on scarce federal funding or the constraints of public-sector development. Our initial investment enabled the feasibility study and conceptual design, among other studies that were performed. We acknowledge the compelling fundamentals for the project: essential infrastructure, proven technology, and a regulatory framework that supports private development. This Presidential Permit validates the work performed to date and allows us to work on the next phases that will bring this project to commercial operation."

A Reliable Energy Future For Puerto Rico

The project centers on a state-of-the-art 500 MW combined-cycle power plant to be constructed in San Pedro de Macorís, Dominican Republic, utilizing the latest gas and steam turbine technology. The facility will transmit power through three cable segments.

"This is the first major milestone that we have achieved. Meanwhile, we continue to advance on other milestones for the rapid execution of the Project," said Tirso Selman, Project Director. "Our development timeline and cost structure benefit significantly from building in the Dominican Republic, where permitting processes are more streamlined and construction costs are 25-30% lower than comparable Puerto Rico-based projects."

For Puerto Rico, the project addresses critical vulnerabilities exposed by recent hurricanes while positioning the island to retire inefficient legacy energy generation. The geographic diversification inherent in the cross-border design provides unprecedented resilience. For example, when storms threaten Puerto Rico, power continues flowing from the Dominican facility. If the Dominican Republic faces challenges, the interconnection cable is bi-directional, capable of providing power back to the Dominican Republic. In addition, the continuous LNG supply to the Dominican plant eliminates the vessel swap interruptions that periodically disrupt Puerto Rico's current floating storage units, another critical resilience consideration.

"Project Hostos will provide the firm, flexible, and dispatchable baseload capacity Puerto Rico desperately needs to replace aging thermal plants, reduce blackouts, and enable the integration of more renewable energy," Vélez added. "By connecting the two islands through proven subsea cable technology used successfully across North America, Europe, and Asia, we're not just building energy infrastructure; we're building resilience, reliability, and a bridge to Puerto Rico's clean energy future."

Key Partners Powering The Cross-Border Energy Solution

CTDC is currently engaged in a strategic partnership with Siemens Energy, which will supply the 500MW combined cycle power plant and both AC-to-DC converter stations in the Dominican Republic and Puerto Rico.

Environmental stewardship has been central to the project's design. Working for the past three years with Jacobs, the international engineering firm, CTDC has optimized the cable routing through various comprehensive marine and environmental surveys and horizontal directional drilling for nearshore installation, key matters for the U.S. Presidential Permit.

The advanced combined-cycle technology provides approximately double the efficiency of Puerto Rico's aging steam units. This translates to annual operational savings of up to $300 million while reducing emissions by 3.8 million tons of CO2 annually compared to current generation sources. The plant's fast-ramping capability provides the flexibility to balance renewable intermittency while mitigating curtailment of clean energy.

The project will create more than 1,500 construction jobs and generate over $150 million in economic impact during the build phase. Once operational, Project Hostos will provide reliable power to the equivalent of more than 600,000 Puerto Rican homes while establishing the foundation for expanded Caribbean energy cooperation.

"The Hostos name itself—honoring the 19th-century philosopher Eugenio María de Hostos, who championed Caribbean confederation and shared prosperity—reflects our vision for this project," said Antonio Almonte, Minister of Energy and Mines of the Dominican Republic. "This Presidential Permit allows an interconnection that will transform the Caribbean energy landscape by demonstrating that our islands are stronger together. As we advance toward regional integration, Project Hostos establishes the technical and commercial framework for a true Caribbean energy market, where resources, expertise, and infrastructure serve the prosperity of all our peoples."

Caribbean Transmission Development Company | www.caribbeantransmission.com