This month energy and climate change secretary Ed Davey said he expected to see investment start to flow into the energy industry in the next 12-18 months. The New Power project monitor index, focusing this month on CCGTs, shows how urgent that investment is when progress is assessed in comparison to the last time this selection was published, nearly two years ago.
Two plants – West Burton and Pembroke – which both were near completion last time we took this snapshot, have come into operation. Elsewhere, however, there has been little progress and some of the largest and most developed projects have been halted.
SSE’s Great Island project – acquired by the company since our last Index was published – stands third in the list. This is a major investment for SSE, but it is in Ireland and it operates outside the GB market. A comparison with SSE’s UK projects in the development pipeline is instructive. Keadby and Abernedd are among the most developed of our listed projects and they have been described as “shovel-ready”, but SSE has announced it will halt further development until details of the new Capacity Mechanism are finalised…
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CCGT project monitor highlights stalled development pipeline