Ofgem has acted to compel supplier Symbio Energy to make payments it owes to small renewable energy generators under the ‘feed in tariff’ scheme and to give the regulator information on its cash flow forecasts. Symbio Energy owes around £450,000…
News
Good Energy board hits back at Ecotricity, says successful bid would result in ‘outdated’ business model
by New Power •
Good Energy says that shareholders representing at least 15.30% of its share capital have given assurances that they will not accept a hostile offer made by Ecotricity. That includes six shareholders representing approximately 10.96% of the share capital and shares…
News
SSE takes on first battery storage project with 50MW Wiltshire site
by New Power •
SSE says it is looking at 500MW of battery opportunities and its distributed energy division has acquired the project development rights for its first 50MW battery storage asset. It plans to bring the project, on a consented site in Wiltshire,…
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Hydrogen strategy: the industry responds
by New Power •
Rt Hon Philip Dunne MP, chair, Environmental Audit Committee: “I welcome the eagerly awaited Hydrogen Strategy, which finally gives industry some clarity on the government’s intention for hydrogen in our low carbon energy mix. When our Committee undertook work on…
News
MED acquires two projects as it aims for 300MW reserve power portfolio
by New Power •
Mast Energy Developments (MED) has acquired Rochdale Power Limited, a 4.4MW (adjustable up to 7.5MW) gas engine project in Dig Gate Lane, Rochdale. It was acquired as a special purpose vehicle (SPV) from Balance Power Projects. Rochdale is a ‘shovel-ready’…
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Bluefield solar acquires wind farms, co-located solar/storage project
by New Power •
Bluefield Solar fund has made two acquisitions. The first is an operating portfolio of 109 small onshore wind turbines, for which it paid around £63 million (including working capital and transaction fees). The second is the grid connection and associated…
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Reactive Technologies plans international expansion of inertia measurement tech with $15M funding
by New Power •
Reactive Technologies has raised $15 million to expand its international activities and export its GridMetrix technology, which takes direct measurements of electricity grid ‘inertia’ (stability) and providing system operators with accurate real-time visibility over power network conditions. The funding round…
Longread
Gwynt y Mor OFTO reveals battle to insure offshore wind cables: 40% premium hike and scores of providers decline
by New Power •
Concern over outages in cables connecting the UK’s offshore wind farms to the onshore network have been laid bare by the company that owns the link to Gwynt y Môr wind farm, which argues that a series of repair outages…
News
CMA says GEMA got it right on cost of equity, wrong on clawing back outperformance
by New Power •
The Competition and Markets Authority (CMA) is set to uphold the decision of the Gas and Electricity Markets Authority (GEMA, through Ofgem) to sharply cut the returns network companies can make in the coming five years (the RIIO-2 period), but…