News

Enel buys 25MW battery storage project in Tynemouth

Enel has bought the Tynemouth battery storage project from Element Power. The construction-ready project is supported by a four-year EFR contract to provide grid balancing services to National Grid, with a price of around £12/MWh. Enel bought 100% of the shares in Tynemouth Energy…

Cadent acquisition drops gas network credit quality

Ratings agency Moody’s regards the new parent company of Cadent, which has acquired National Grid’s gas distribution networks, as “weak investment grade”, it said, announcing a ratings downgrade from A3 to Baa1 for Cadent. Moody’s noted the very low business…