Specialist clean energy investor Octopus Renewables Infrastructure Trust (ORIT) has invested £6.4 million in Simply Blue Holdings, giving it a 12% stake in Simply Blue Group, which develops marine projects focused on floating offshore wind. SBG said it has developed…
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Scottish Government funds tidal turbine scale-up with £2M
by New Power •
The Scottish Government has awarded a £2 million grant to tidal energy developer Nova Innovation to step up production of tidal turbines. The funding, delivered through Scottish Enterprise, is directed at Nova’s ‘Volume Manufacturing and Logistics for Tidal Energy’ project.…
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Gresham House acquires 50MW Skegness solar farm project from Anesco
by New Power •
Gresham House has acquired Low Farm, a 50MW solar farm in Lincolnshire, from Anesco, as part of a three-year development and construction partnership valued in excess of £100 million. Located near Skegness, it covers 60Ha. Construction is expected to begin…
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Seagreen offshore wind farm offers five-year corporate PPAs to give buyers flexibility
by New Power •
Seagreen Wind Energy has launched a corporate purchase power agreement (cPPA) for its offshore wind farm with half the duration of past contracts, aiming to give corporates flexibility. CPPA contracts are typically 10 years or more in duration, but Seagreen…
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SSE disposes of SGN stake for £1.225 billion
by New Power •
SSE has agreed to sell its remaining 33.3% stake in gas distribution operator Scotia Gas Networks Ltd (SGN) for £1.225 billion to a consortium of the Ontario Teachers’ Pension Plan Board (which is already a shareholder in SGN) and Brookfield…
Longread
INTERVIEW: Monika Paplaczyk, investment director, Thrive Renewables
by New Power •
Janet Wood talked to Thrive Renewables investment director Monika Paplaczyk about the barriers and opportunities in investing behind the meter in storage and generation and the company’s move into battery storage Thrive Renewables’s aim is to help individuals and businesses…
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Ofgem flags local solutions to heat decarbonisation, as gas networks are told to plan ‘village trial’ with up to 2000 hydrogen users
by New Power •
Decarbonising heat is among four options for which energy networks can apply for funding in the first round of Ofgem’s new innovation funding mechanism. But major trials for converting the gas network to hydrogen flagged in the government’s ‘ten point…
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SGN, Vital join over heat networks as Kensa proposes new model
by New Power •
As low-carbon heat provision comes under the spotlight two new options for heat networks have been announced. Gas distribution company SGN has joined with renewable energy provider Vital Energi to develop, own and operate low and zero-carbon heat networks. The…
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North of Scotland transmission network value set to pass £6 billion by 2026
by New Power •
SSEN Transmission could see its regulated asset value (RAV) increasing to over £6 billion by 2026, the end of the current price review period (RIIO2), it said in a trading update. The company, which owns and operates the transmission system…