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	<title>New Power</title>
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	<link>https://www.newpower.info</link>
	<description>Expert information for all those invested in the UK&#039;s energy future</description>
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		<title>Majority of e-bus drivers favour electrons over diesel</title>
		<link>https://www.newpower.info/2026/06/majority-of-e-bus-drivers-favour-electrons-over-diesel/</link>
		<comments>https://www.newpower.info/2026/06/majority-of-e-bus-drivers-favour-electrons-over-diesel/#comments</comments>
		<pubDate>Mon, 15 Jun 2026 16:32:16 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14458</guid>
		<description><![CDATA[Research conducted by commercial e-fleet solutions provider VEV has found that 78% of its drivers favour electric vs diesel, highlighting smoother journeys, quieter cabins and improved passenger experience. Reduced cabin noise emerged as the standout benefit for 87% of drivers,&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/majority-of-e-bus-drivers-favour-electrons-over-diesel/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Research conducted by commercial e-fleet solutions provider VEV has found that 78% of its drivers favour electric vs diesel, highlighting smoother journeys, quieter cabins and improved passenger experience.<br />
Reduced cabin noise emerged as the standout benefit for 87% of drivers, while 67% of drivers reported lower fatigue behind the wheel.<br />
Sam Hoyland, Commercial and Marketing Director at VEV, said: “The conversation around electrification often focuses on environmental targets and technology, but this research shows there is also a very human story. The people operating these vehicles every day are overwhelmingly positive about the experience, and that&#8217;s an important signal for the future of public transport.”<br />
VEV has over 2,000 electric buses and coaches under management.</p>
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		<title>Principality stadium claims record for solar panels</title>
		<link>https://www.newpower.info/2026/06/principality-stadium-claims-record-for-solar-panels/</link>
		<comments>https://www.newpower.info/2026/06/principality-stadium-claims-record-for-solar-panels/#comments</comments>
		<pubDate>Mon, 15 Jun 2026 16:28:51 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14456</guid>
		<description><![CDATA[Principality Stadium in Cardiff has been fitted with 3,250 solar panels by EvoEnergy, the UK’s leading renewable company, making it the largest such installation at any sports stadium in the UK. The panels are expected to generate 1.25GWh of electricity&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/principality-stadium-claims-record-for-solar-panels/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Principality Stadium in Cardiff has been fitted with 3,250 solar panels by EvoEnergy, the UK’s leading renewable company, making it the largest such installation at any sports stadium in the UK.<br />
The panels are expected to generate 1.25GWh of electricity each a year.<br />
The solar installation is part of a wider package of sustainability measures aimed at decarbonising Principality Stadium’s operations. The WRU is now developing a full-fledged sustainability strategy, which will draw on all of its current and future efforts to drive decarbonisation and broader societal change across the whole of Welsh rugby.<br />
Gavin Marshall, WRU Chief Financial and Operating Officer said …“We’re not only reducing our carbon footprint but also strengthening the financial sustainability of the Union through the money we will save, creating long-term value that can be reinvested into Welsh rugby at every level.”<br />
The solar installation sits alongside other measures, such as the introduction of a well water abstraction system for cleaning and watering, rain-water harvesting, and installation of LED lighting throughout the stadium. </p>
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		<title>Rolls Royce SMR celebrates contract award in Sweden</title>
		<link>https://www.newpower.info/2026/06/rolls-royce-smr-celebrates-contract-award-in-sweden/</link>
		<comments>https://www.newpower.info/2026/06/rolls-royce-smr-celebrates-contract-award-in-sweden/#comments</comments>
		<pubDate>Mon, 15 Jun 2026 16:25:55 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14454</guid>
		<description><![CDATA[Swedish company Videberg Kraft has selected Rolls-Royce SMR as its partner to deliver three small modular reactors (SMRs) on the Värö peninsula, on Sweden’s west coast. Announcing the selection, Rolls-Royce SMR noted that it was also recently awarded contracts in&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/rolls-royce-smr-celebrates-contract-award-in-sweden/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Swedish company Videberg Kraft has selected Rolls-Royce SMR as its partner to deliver three small modular reactors (SMRs) on the Värö peninsula, on Sweden’s west coast.<br />
Announcing the selection, Rolls-Royce SMR noted that it was also recently awarded contracts in the UK and Czechis.<br />
The Videberg Project will add 1,500 MWe of capacity, supplying around 6% of Sweden’s annual power consumption.<br />
Chris Cholerton, Rolls-Royce SMR Chief Executive, said: “Following a rigorous selection process that began in 2022 and considered both large-scale and small modular reactor options, we are delighted to have been selected by Videberg Kraft as its partner to bring new nuclear power to Sweden. This is a strong endorsement of our transformational approach to delivery of a standardised fleet of SMRs.”<br />
The Rt Hon Peter Kyle MP, Secretary of State for Business and Trade and President of the Board of Trade, said “This is a major vote of confidence in British innovation and our nuclear industry &#8211; we are now at the heart of the European nuclear renaissance alongside our partners in Sweden. Good jobs and clean energy security is our Modern Industrial Strategy in action.”</p>
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		<title>Community solar farm to have battery installation</title>
		<link>https://www.newpower.info/2026/06/community-solar-farm-to-have-battery-installation/</link>
		<comments>https://www.newpower.info/2026/06/community-solar-farm-to-have-battery-installation/#comments</comments>
		<pubDate>Fri, 12 Jun 2026 15:23:18 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14452</guid>
		<description><![CDATA[Low Carbon Hub, a social enterprise which develops community-owned renewable energy projects in Oxfordshire, announced it has exceeded its initial target of £500,000 in community investment for a community-owned solar energy battery, a month ahead of the project deadline. It&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/community-solar-farm-to-have-battery-installation/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Low Carbon Hub, a social enterprise which develops community-owned renewable energy projects in Oxfordshire, announced it has exceeded its initial target of £500,000 in community investment for a community-owned solar energy battery, a month ahead of the project deadline.<br />
It said 270 people have invested over £640,000 in the project to install battery storage at largest community-owned solar energy farm Ray Valley Solar, set up by Low Carbon Hub in 2022.<br />
The is now ‘over-raising’ funds until 26 June. The total battery cost is £1.8 million, with anything not covered by community investment met through loans.<br />
Dr Barbara Hammond MBE, CEO, Low Carbon Hub says, &#8220;The interest shown in the project so far has proved that there is huge appetite for community energy projects in Oxfordshire and beyond. Thanks to almost 300  investors, we’re delighted to have reached our initial target, but we’re not stopping there”.<br />
Low Carbon Hub says all profits from its renewable energy projects are invested into other community sustainability initiatives such helping schools, homes and businesses become more energy efficient and reduce carbon emissions.<br />
Members of the public and organisations can buy community shares in the Community Energy Fund via the direct impact investing platform, Ethex. </p>
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		<title>Elgin begins construction on three solar+storage projects</title>
		<link>https://www.newpower.info/2026/06/elgin-begins-construction-on-three-solarstorage-projects/</link>
		<comments>https://www.newpower.info/2026/06/elgin-begins-construction-on-three-solarstorage-projects/#comments</comments>
		<pubDate>Fri, 12 Jun 2026 15:01:31 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14450</guid>
		<description><![CDATA[Independent power producer (IPP) Elgin has begun construction on three UK solar and storage projects that it will hold into long-term operation. The three projects form part of its agreement with international industrial and energy company METLEN Energy &#038; Metals&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/elgin-begins-construction-on-three-solarstorage-projects/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Independent power producer (IPP) Elgin has begun construction on three UK solar and storage projects that it will hold into long-term operation. The three projects form part of its agreement with international industrial and energy company METLEN Energy &#038; Metals and are part of Elgin’s 1GW ready-to-build pipeline across the UK and Ireland.<br />
The three projects are Aston Flamville (26.2MW) in Leicestershire, Thorpe (61.9MW) in Staffordshire and Maes Mawr (24.5MW) in Glamorgan, which will be under construction throughout 2026 and 2027. The Independent Connection Provider (ICP) works will be delivered by G2 Energy, part of Mitie Power &#038; Grid.<br />
Elgin said it has secured 382MW of capacity spanning eight contracts in the UK’s Allocation Round 7 CfD auction, adding to the 164MW in AR6 and 130MW in AR5.<br />
Elgin secured up to £500 million of funding from BNP Paribas, Siemens Bank, Société Générale, Standard Chartered and NatWest this year to fund  the build-out of its UK pipeline. </p>
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		<title>South Wales to see the first of 12 wind farms from Bute Energy</title>
		<link>https://www.newpower.info/2026/06/south-wales-to-see-the-first-of-12-wind-farms-from-bute-energy/</link>
		<comments>https://www.newpower.info/2026/06/south-wales-to-see-the-first-of-12-wind-farms-from-bute-energy/#comments</comments>
		<pubDate>Wed, 10 Jun 2026 13:41:05 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14461</guid>
		<description><![CDATA[Onshore wind developer Bute Energy has secured a project finance agreement of £160 million with Lloyds and Rabobank to construct its first onshore wind development in Caerphilly, south Wales. Construction has begun on site. Twyn Hywel Energy Park is rated&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/south-wales-to-see-the-first-of-12-wind-farms-from-bute-energy/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Onshore wind developer Bute Energy has secured a project finance agreement of £160 million with Lloyds and Rabobank to construct its first onshore wind development in Caerphilly, south Wales. Construction has begun on site.<br />
Twyn Hywel Energy Park is rated at 93.8MW and Bute Energy says it is the first of 12 onshore wind projects across Wales, with a total generating capacity of +2GW.<br />
Sid Anverali, Project Director at Bute Energy said: &#8220;Securing the project financing for Twyn Hywel Energy Park is a landmark moment, not just for this project, but for Bute Energy as a business. This is our first project to move into construction, and that milestone reflects years of rigorous development work and the confidence our financing partners have placed in us.&#8221;<br />
Tony Hable, Managing Director &#038; Head of Infrastructure and Project Finance at Lloyds said: “Backing this large-scale South Wales wind project reinforces Lloyds’ leading role in infrastructure and project finance and our support for expanding the UK’s onshore wind capacity.”</p>
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		<title>ABP wins £300M investment from National Wealth Fund and banks for its ports</title>
		<link>https://www.newpower.info/2026/06/abp-wins-300m-investment-from-national-wealth-fund-and-banks-for-its-ports/</link>
		<comments>https://www.newpower.info/2026/06/abp-wins-300m-investment-from-national-wealth-fund-and-banks-for-its-ports/#comments</comments>
		<pubDate>Wed, 03 Jun 2026 13:50:15 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14447</guid>
		<description><![CDATA[The National Wealth Fund has announced a £200 million commitment to support Associated British Ports (ABP), alongside £100 million commercial funding jointly from Bank of America, Lloyds and NatWest, help accelerate capital deployment. Eligible projects in the programme include a&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/abp-wins-300m-investment-from-national-wealth-fund-and-banks-for-its-ports/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>The National Wealth Fund has announced a £200 million commitment to support Associated British Ports (ABP), alongside £100 million commercial funding jointly from Bank of America, Lloyds and NatWest, help accelerate capital deployment.<br />
Eligible projects in the programme include a further upgrade to the Port of Lowestoft to support more offshore wind operations and  infrastructure enhancement works at the Port of Ipswich to develop the local Sizewell C supply chain.<br />
Henrik L. Pedersen, CEO of Associated British Ports, said: “Associated British Ports is delighted to be partnering with the National Wealth Fund on this ground-breaking commitment. The National Wealth Fund’s strategic ambitions, innovative thinking and ability to commit over the long term make it uniquely positioned to support ABP&#8217;s targeted major infrastructure investment programme. I would also like to thank Bank of America, Lloyds and NatWest for their involvement, a further expression of their ongoing support for ABP. The projects supported by today&#8217;s transaction reflect the full span of ABP&#8217;s twin missions &#8211; Keeping Britain Trading and Enabling the Energy Transition – unlocking growth and boosting jobs, prosperity and opportunity in coastal communities.” </p>
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		<title>ScottishPower offers half price electricity during Scotland and England World Cup group games</title>
		<link>https://www.newpower.info/2026/06/scottishpower-offers-half-price-electricity-during-scotland-and-england-world-cup-group-games/</link>
		<comments>https://www.newpower.info/2026/06/scottishpower-offers-half-price-electricity-during-scotland-and-england-world-cup-group-games/#comments</comments>
		<pubDate>Wed, 03 Jun 2026 13:41:38 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14445</guid>
		<description><![CDATA[ScottishPower is offering its customers half price electricity during the World Cup with two hours of cut rate power during all planned group matches for Scotland and England. ScottishPower said the limited-time offer will help customers make the most of&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/scottishpower-offers-half-price-electricity-during-scotland-and-england-world-cup-group-games/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>ScottishPower is offering its customers half price electricity during the World Cup with two hours of cut rate power during all planned group matches for Scotland and England.<br />
ScottishPower said the limited-time offer will help customers make the most of the event while keeping energy costs down. The bonus hours can be grabbed in addition to the existing Power Saver scheme which allows customers to choose eight hours of electricity at half price every week, at a time that suits their lifestyle best.<br />
ScottishPower said it expects the tournament to be the biggest overnight electricity demand event in its history, with opening fixtures forecast to create surge in  demand — during what is normally one of the quietest periods for the network.<br />
Existing ScottishPower customers will soon be able to opt into the Power Saver World Cup bonus hours initiative, and new customers joining the leading green energy company will be eligible to opt in too.</p>
<p>Key matches included in the offer are (UK kick-off times);<br />
Scotland group games;<br />
Scotland v Haiti – Sunday 14 June, 2:00am (discounted period 0200-0400)<br />
Scotland v Morocco – Friday 19 June, 11:00pm (discounted period 1100-0100)<br />
Scotland v Brazil – Wednesday 24 June, 11:00pm (discounted period 1100-0100)<br />
England group games:<br />
England v Croatia – Wednesday 17 June, 9:00pm (discounted period 2100-2300)<br />
England v Ghana – Tuesday 23 June, 9:00pm (discounted period 2100-2300)<br />
England v Panama – Saturday 27 June, 10:00pm (discounted period 2200-0000)</p>
<p>The World Cup deal adds an extra assist to ScottishPower’s existing line-up of customer perks, including Power Saver, which offers customers 8 hours of cheaper electricity at selected times throughout the week.<br />
To take advantage of the special Power Saver World Cup Bonus Offer, you need to be a ScottishPower electricity customer with a communicating smart meter and consent to half-hourly readings being automatically shared.<br />
Customers should download the SP app and switch on notifications to receive alerts ahead of the World Cup kicking off to opt in for their two hours 50% discount covering Scotland and England matches.<br />
Usage savings will appear as ‘Power Saver Credit’ on a customer’s bill or statement in line with normal billing process. Daily standing charge will be charged at normal rates. Eligibility criteria, exclusions, and T&#038;Cs apply.</p>
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		<title>Seventh Carbon Budget: the industry responds</title>
		<link>https://www.newpower.info/2026/06/seventh-carbon-budget-the-industry-responds/</link>
		<comments>https://www.newpower.info/2026/06/seventh-carbon-budget-the-industry-responds/#comments</comments>
		<pubDate>Wed, 03 Jun 2026 05:00:01 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.newpower.info/?p=14441</guid>
		<description><![CDATA[Rachel Solomon Williams, Executive Director, Aldersgate Group: “Today’s publication of Carbon Budget 7 is a major step forward in the UK’s plans to meet its net zero commitments. It is good to see the government is setting a target that&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/seventh-carbon-budget-the-industry-responds/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p><strong>Rachel Solomon Williams,  Executive Director, Aldersgate Group: </strong><br />
“Today’s publication of Carbon Budget 7 is a major step forward in the UK’s plans to meet its net zero commitments. It is good to see the government is setting a target that should drive urgent action to drive down carbon emissions.<br />
“As today’s new report by the CBI and ECIU also shows, net zero is delivering benefits right across the UK economy. The sector encompasses 23,000 firms, of which over 96% are small or medium size; it also supports over 1 million jobs, with wages at 11% higher than average.<br />
“We look forward to the publication of a delivery plan to accompany this new carbon budget, providing the certainty businesses need and placing the UK’s net zero plans at the heart of our economic future. The plan must set out clearly what action will be taken across different sectors, especially on meeting growing demand for electricity across heating, transport and industry, as well as bringing costs down.”</p>
<p><strong>Toby Perkins MP, Chair, Environmental Audit Committee:</strong><br />
“I am pleased that the government has today set out its proposals for the Seventh Carbon Budget (CB7), getting on with the job of reducing the fossil fuel emissions and moving the UK ever closer to a net-zero carbon future.<br />
“My committee’s recent report made clear that warmer homes, cleaner air and cheaper running costs all await if ministers get the next steps right. But keeping public consent for these ambitious measures will be critical. I urge ministers to ensure that its plans for delivering this Carbon Budget have fairness at their heart.<br />
“We welcome the fact that CB7 will be properly scrutinised, both through our Committee&#8217;s inquiry and through the debate that will take place in Parliament.<br />
“My Committee will soon publish the government’s response to its report on the Seventh Carbon Budget, and we will scrutinise the Carbon Budget measures in detail to ensure that they meet the demands of a just transition.”</p>
<p><strong>Nimoy Kher, Managing Associate Sharpe Pritchard:</strong><br />
“An 87% emissions cut by 2040 will require a wholesale re-wiring of the economy &#8211; more clean power, more grid, more storage, more electrified transport and heat, and new models for industrial decarbonisation.<br />
“The Seventh Carbon Budget is a clear signal to market stakeholders that the UK’s decarbonisation pathway remains legally anchored, notwithstanding the political noise around net zero. But the market will not respond to targets alone. Our clients will need bankable revenue and financing models, greater cost predictability, faster consenting, and clearer grid access in a manner that supports investment.<br />
“The target confirms the scale of the opportunity &#8211; the challenge now is creating the conditions for capital to flow into deliverable projects.”</p>
<p><strong>Charlotte Lee, Chief Executive, Heat Pump Association UK:</strong><br />
“Today’s Government decision to adopt the CCC’s recommended targets for the Seventh Carbon Budget proves yet again that electrification remains firmly on the agenda. To meet this ambitious level of emissions reduction, we must decarbonise heat from homes and buildings. Moving at pace to do so will not only benefit the consumers, who will see increased comfort and reduced energy bills, but also stimulate economic growth and local jobs, reduce our reliance on volatile fossil fuels and provide healthier homes.<br />
Our latest analysis evidences this, with the heat pump sector contributing £1 billion to the UK economy in 2025, with the potential to grow to £15 billion by 2035. Heat pump related employment could also grow to over 110,000 jobs by 2035. The transition to electrified heat presents a significant economic and industrial opportunity, and today’s new targets emphasise this further, providing certainty for the sector and potential investors. The Seventh Carbon Budget must now be supported by a clear plan and delivery at pace.”</p>
<p><strong>Tara Singh, Chief Executive,  RenewableUK:</strong><br />
&#8220;Setting clear goals helps us to attract billions in private investment in the UK&#8217;s world-class clean tech industries, creating well-paid jobs throughout the country in wind, solar, energy storage and green hydrogen &#8211; our new powerhouses of economic growth.<br />
“The clean power we generate cuts bills by pushing the most expensive gas generators off the system. Low-cost electricity from renewables protects billpayers from price shocks on volatile global fossil fuel markets which we can&#8217;t control, strengthening the UK&#8217;s energy security as we move closer towards energy independence&#8221;.</p>
<p><strong>Alice Williams, VP Digital Energy UK&#038;I, Schneider Electric:</strong><br />
“Government backing for the CCC’s proposal to cut emissions by 87% by 2042 is a clear commitment to decarbonise the UK economy while strengthening energy resilience. To deliver it, we must electrify at pace – cutting reliance on volatile fossil fuels, reducing exposure to price shocks and lowering costs for households and industry.<br />
“But energy security also depends on a grid fit for the future. The UK’s networks are ageing and increasingly stretched. Policy must prioritise investment to modernise and expand infrastructure, connecting renewables faster and keeping the lights on for buildings, services and industry up and down the country.<br />
“Modern infrastructure must also be intelligent infrastructure. Electrification alone is not enough; organisations need greater visibility and control over how energy is produced, distributed and consumed. Digital technologies can turn energy data into actionable insights, helping make efficiency gains, renewable integration and carbon reduction measurable and scalable.<br />
“Alongside this, incentives to accelerate clean technologies such as solar and heat pumps, alongside stronger energy efficiency measures, are essential. Targeted support for green investment, digital infrastructure and skills will help accelerate the transition.”</p>
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		<title>Drax Group to acquire Bluefield renewables projects and pipeline</title>
		<link>https://www.newpower.info/2026/06/drax-group-to-acquire-bluefield-renewables-projects-and-pipeline/</link>
		<comments>https://www.newpower.info/2026/06/drax-group-to-acquire-bluefield-renewables-projects-and-pipeline/#comments</comments>
		<pubDate>Tue, 02 Jun 2026 14:03:50 +0000</pubDate>
		<dc:creator>New Power</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[Drax Group has announced an agreed acquisition of Bluefield Solar Income Fund saying it is an attractive opportunity to grow its UK renewable generation business whilst being highly complementary to the Wider Drax Group’s existing operations and FlexGen portfolio. Drax&#8230;<p class="more-link-p"><a class="more-link" href="https://www.newpower.info/2026/06/drax-group-to-acquire-bluefield-renewables-projects-and-pipeline/">Read more &#8594;</a></p>]]></description>
				<content:encoded><![CDATA[<p>Drax Group has announced an agreed acquisition of Bluefield Solar Income Fund saying it is an attractive opportunity to grow its UK renewable generation business whilst being highly complementary to the Wider Drax Group’s existing operations and FlexGen portfolio.<br />
Drax will gain a 0.9GW portfolio of solar and wind assets operating and under construction, plus a 2.9GW gross capacity development pipeline to be constructed across the next decade.<br />
Drax said these would complement the Drax group’s existing portfolio of 2.2GW of FlexGen assets and developments and 2.6GW of biomass, creating a broader base of UK generation assets and associated earnings.<br />
For the financial year ended 30 June 2025, BSIF generated underlying earnings of c.£95 million, EBITDA of c.£130 million and operating free cash flow of c.£118 million. BSIF will provide an opportunity to grow Drax’s EBITDA from renewables, offering greater predictability and visibility of cash flows from a large operational portfolio,  reducing the group’s earnings risk from grid connection delays.<br />
In March, Drax completed the acquisition of Flexitricity Limited, a UK-based optimiser of flexible energy assets. </p>
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