Ofgem is asking who should fund an SGN-led live trial of transporting hydrogen in the local gas transmission system (LTS), after recommissioning a currently mothballed pipeline. The trial will be used to produce a blueprint methodology for potentially repurposing and…
News
UPDATED: Companies face higher trading costs as credit-setting price rises – but further hike on 7 January now eased until 25 January
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UPDATE 5 January: The BSC Credit Committee has decided to cancel an expected increase in the Credit Assessment Price (CAP) that would have seen it rise to £380/MWh on 7 January. Instead, the committee has decided to retain the current…
UKETS Authority may take action to contain costs, decision due after markets close on 18 January
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For the second time the government is considering whether to take action to address rising carbon costs in the UK’s new carbon emissions trading scheme (UKETS). The UK ETS Authority will announce its decision after trading hours on 18 January.…
Rolls-Royce completes sale of gas engines business, new owner aims to expand microgrid business
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Rolls-Royce has completed the sale of its Bergen Engines business to Langley Holdings. The sale was initially announced on 3 August 2021. Bergen Engines joins Piller Power System and Marelli Motori groups in Langley’s £600 million power solutions business, which…
Octopus and Wind 2 to develop up to 570MW of onshore wind
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Octopus Renewables Infrastructure Trust (ORIT) and specialist UK onshore wind developer Wind 2 have announced plans to develop up to nine onshore wind farms in Scotland and Wales over the next 5-10 years, with a potential combined capacity of approximately…
GIG set to construct 40MW battery in Essex
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Macquarie’s Green Investment Group (GIG) has reached financial close on a 40MW battery storage project, located in Maldon, Essex. The project is one of seven strategically located in highly congested areas of the UK network, including Scotland and South-East England,…
NI consortium plans to bring forward geothermal power projects in 2022
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A new consortium will explore and develop deep geothermal energy projects in Northern Ireland and plans to bring forward its first projects in 2022. Geothermal NI is made up of MJM Renewables, Arup, Queen’s University Belfast and Geothermal Engineering Ltd.…
Good Energy seeks more working capital, warns a 30% tariff increase may not be the last
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Good Energy is in discussion with its financing partners to augment its working capital for the winter period. The company is exempt from the price cap and has already raised its standard variable tariff. It plans a second rise of…
Ontario local government pension fund sells SGN stake to Global Infrastructure Partners
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OMERS has announced the sale of its 25% stake in Scotia Gas Networks Limited to Global Infrastructure Partners (GIP). SGN is the second largest gas distribution network in the UK, which owns Scotland Gas Networks and Southern Gas Networks. It…
Schroders takes 75% stake in Greencoat Capital
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Global asset manager Schroders is to acquire a 75% share of renewable infrastructure manager Greencoat Capital, for an initial consideration of £358 million. The deal includes a potential earn out, payable three years after completion, which is subject to stretch…