Dan McGrail, Chief Executive, RenewableUK: “The Prime Minister is right in saying the UK should embrace the huge economic opportunities in green industries like offshore wind and create well-paid jobs by making the UK the best place to invest in…
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Lazard Asset Management takes stake in rooftop solar company
by New Power •
Rooftop solar developer and owner Shawton Energy has seen a change in ownership. Iona Capital, the UK low carbon sustainable fund manager, has sold its interest in the company to a fund sponsored by Lazard Asset Management. As a result…
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Electron raises £4M to expand ElectronConnect platform
by New Power •
Electron, which provides the ElectronConnect software for flexibility and distributed electricity, has raised £4 million to expand in the UK, Europe, and North America. The investment round was led by East Innovate, with participation from Riverstone, Nesta, and One Planet…
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Government invites infrastructure investors with a history of delivery to take equity in Sizewell C
by New Power •
The government and Sizewell C Limited have opened a pre-qualification process for potential investors – the first stage of a planned equity raise process for the proposed new nuclear project adjacent to Sizewell B. It is hoping to find co-investors…
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Government seeks views on ‘temporary’ hydrogen blending but accepts it will be in shrinking gas distribution network
by New Power •
The government has begun a consultation on blending hydrogen into the existing gas distribution network. DESNZ described the option as ‘transitional’ because it relies on an extensive natural gas network being available, but the network “will reduce as we progress…
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Downing takes AI approach to boost performance at solar farms
by New Power •
Downing Renewables & Infrastructure Trust (Dore), which in April acquired a £12.6 million, 13.0 MWp portfolio of two ground-mounted PV sites and 1,600 commercial and residential PV installations, is working to improve returns and extend the expected lifetime of its…
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HS1 planning renewables CPPAs for its power needs
by New Power •
Train operator High Speed 1 is planning to use sleeved trades from renewables corporate power purchase agreements for the majority of its baseload power. The company is now procuring an electricity supply contract for the five years from 1 April…
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Cambridgeshire waste company plans ‘urgent’ solar/storage project for EV fleet to bypass grid limits
by New Power •
A waste company in Cambridgeshire aims to bypass a lack of electricity network capacity that could delay a switch to electric vehicles by developing on-site solar and battery facilities. It is seeking a developer to deliver the ‘urgent’ project by…
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Foresight to dispose of 200MW of solar PV portfolio
by New Power •
Foresight Solar has begun a divestment programme for around 200MWp of solar PV projects. Proceeds from the sale will be used to reduce debt and recycle capital into yield-accretive opportunities. Commenting on the company’s results, Alexander Ohlsson, Chairman of Foresight…