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…
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Ofgem fires warning shot over Balancing Market costs
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Ofgem has warned energy generators that “We will not hesitate to take action if we find evidence of market manipulation” in an open letter to companies who participate in the so-called ‘Balancing Market’ (BM). General electricity trading applies in half-hourly…
Northern Ireland seeks to join Contract for Difference regime from 2023 to fund offshore wind
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Northern Ireland is working with Westminster’s Department for Business, Energy and Industrial Strategy (BEIS) to explore whether the Contracts for Difference scheme currently operating in GB can be extended to Northern Ireland. If so, the aim would be to include…
DNO’s sister company brokers hydrogen-ready fuel cell on-site power for Manchester data centre
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Cloud hosting and data centre provider Teledata and Conrad Energy have agreed to install an initial 1.2MW of solid oxide fuel cells (SOFCs) from Bloom Energy at Teledata’s data centre in Manchester. Conrad Energy will fully fund the installation of…
Qatar takes 10% stake as Rolls Royce says its ‘small nuclear’ business is fully funded
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Sovereign wealth fund Qatar Investment Authority (QIA) has agreed to invest £85 million in Rolls-Royce SMR Limited. It QIA will join Rolls-Royce Group, BNF Resources UK Ltd and Exelon Generation Ltd as shareholders in Rolls-Royce SMR, taking a 10% share…
Towards 2032: switching gas customers to 100% hydrogen. How might it be done?
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SGN owns and operates the low-pressure gas network in Scotland. That means that as of 2020/21, it operates more than 44,000 miles of pipework and delivers gas to 5.9 million homes and businesses. In response to a target from the…
UK Oil & Gas plans geothermal ‘hub’ at controversial Surrey oil site
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UK Oil & Gas (UKOG) and Ceraphi Energy are planning a joint venture to develop part of UKOG’s Horse Hill oil site in Surrey into a geothermal energy hub. Surrey County Council granted Horse Hill Development Ltd (HHDL) planning permission…
UPDATED: BEIS promises decision on action after close on 14 December as carbon price rises above cost-containment ‘trigger’
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UPDATE: The UK ETS Authority has decided not to intervene in the market although prices have risen to a level where action – a ‘cost containment mechanism (CCM) – is considered. The Authority said the decision is “based on the…
Two companies in default at BSC
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UPDATED: on 16 December BSC said Home Energy Trading’s default had been rectified Two further companies, Home Energy Trading and Delta Gas and Power, are in default of their obligations under the Balancing and Settlement Code (BSC) and are barred…
New battery on Teesside ‘would be Europe’s biggest’
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Sembcorp Energy UK has announced plans to build Europe’s largest battery at its site at Wilton International on Teesside. The company says that this site has available land and connections ready to enable swift instalment of the 360MW battery, which…