The Green Hydrogen for Scotland Consortium has won £9.4 million funding from the BEIS’s Energy Innovation Portfolio competition to develop a hydrogen production and storage facility. The facility will be sited at Whitelee wind farm, owned by ScottishPower, a member…
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Atrato’s £150M fund raising for rooftop solar to be deployed ‘within the year’
by New Power •
Atrato Onsite Energy has raised £150 million to invest in commercial rooftop solar in the UK. The new renewables investment trust said the initial public offering was oversubscribed ‘multiple times’, and the capital would be deployed within 12 months. Gurpreet…
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French interconnector restart in October and December 2022, says National Grid; Ventures business profit to jump despite outage
by New Power •
National Grid expects to return its IFA interconnector with France back in full service in two stages, it said in its half-year results statement. One of the interconnector’s two 1000MW links was shut down after a fire at the convertor…
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Kleenex, Andrex, Huggies production to be powered by wind, in PPA with new onshore project
by New Power •
Construction has started at the Cumberhead wind farm, a 50MW onshore project in South Lanarkshire, Scotland. It power will supply Kimberly Clark, whose companies provide household brands including Andrex, Kleenex and Huggies, under a power purchase agreement signed with wind…
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Invinity plans to offer global supply after £29M fundraising
by New Power •
Vanadium flow storage company Invinity has raised £29 million in a new share offering and said “the timing is right to make Invinity’s utility-grade energy storage available to the global market”. It said over 25MWh of the company’s Invinity VS3…
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Mitie plans to double energy projects business in 2023
by New Power •
Facilities management company Mitie expects its energy-focused projects business to double to £200 million in FY23, it said in a financial update. Mitie announced the acquisition of connections company Rock Power Connections on 1 November. Carlo Alloni, Managing Director, Technical…
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SSE sets out ‘Net Zero Acceleration Programme’ with major investment in networks and renewables
by New Power •
SSE has announced a £12.5 billion five-year strategic capital investment plan that includes delivery of over 25% of UK’s 2030 40GW offshore wind target – a 65% step-up in annual investment on its previous plan. It also plans to invest…
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Piclo provides single platform for Capacity Market secondary trading
by New Power •
Piclo has launched Piclo Exchange, a secondary trading marketplace for Capacity Market Providers. The Capacity Secondary Market has seen almost 300 trades in each of the previous two delivery years, worth between £15M and £35M, Piclo says. Now Capacity Market…
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US-based MassMutual joins with Low Carbon to invest in renewables in Europe
by New Power •
Massachusetts Mutual Life Insurance, a US life insurance giant, has joined forces with UK-based Low Carbon Limited to become a European independent power producer (IPP), which is targetting 20GW of renewable energy capacity by 2030. The partnership says it will…