The use of hydrogen for heating buildings will remain “negligible” by 2030, with current policies, according to the International Energy Agency (IEA). In its annual Global Hydrogen Review 2023, the IEA said there had been “no significant development in 2022”…
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Naked Energy seeks £30M funding to grow its solar business
by New Power •
Naked Energy has opened a new funding round with the aim of raising £30 million. It wants to scale up production of its solar thermal and combined solar thermal and PV products, sold under the brand name ‘Virtu’. It now…
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E.On UK to partner Coventry city council to deliver a Net Zero city
by New Power •
E.On UK is to help Coventry city council decarbonise energy in the city, in a partnership that could last up to 25 years and rise to £2 billion in value. The council said it “recognises the role it must play…
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PM speech on green targets: the industry responds
by New Power •
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…