Avoiding grid fees and environmental levies is key to reducing the cost of producing ‘green’ hydrogen via electrolysis of water, according to a new report from Aurora Energy Research, as well as having a good green energy resource. But in…
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Flexion Energy aims to build 1GW of battery storage in five years, funded by £150M from GLIL Infrastructure Fund
by New Power •
GLIL Infrastructure Fund and ion Ventures have set up a new joint venture, Flexion Energy Holdings UK Ltd, to develop 300MW of grid-scale battery projects in the UK within two years. They aim to grow the new company’s portfolio to…
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Conrad Energy to provide reactive power services for SPEN Distribution
by New Power •
SP Energy Networks (SPEN) has contracted power producer Conrad Energy to provide a reactive power service, the first time this has been done at a distribution level. The voltage on the electrical system is a core component of maintaining its…
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UPDATED: Octopus REIT confirms plans to raise £100M for new renewables investment across Europe – issue raised to £150M
by New Power •
Octopus Renewables Infrastructure Trust has exceeded its target in a new share offering and decided to increase the size of the Issue to approximately £150 million (from approximately £100 million). Chris Gaydon, Investment Director at Octopus Renewables, commented:”The team is…
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Managing the grid balancing imperative in the energy transition
by New Power •
Simon Courie, partner at UK law firm TLT, explores the new options available to helpmanage a grid that includes more renewables When the leaders of Canada, France, Germany, Italy, Japan, the UK and the US gathered for the G7 summit…
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Partnership to develop hydrogen supplies to replace diesel on railways
by New Power •
Plans to replace diesel with hydrogen fuel on the railway have moved closer, as railway rolling stock owner Eversholt Rail has entered into an agreement to develop hydrogen supply options with H2 Green, the hydrogen network operator. They want the…
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European truckmakers join forces on electric charging network
by New Power •
In a knock for the assumption that heavy duty trucks and other vehicles will require hydrogen fuel in future, three major commercial vehicle manufacturers – Volvo Group, Daimler Truck and the Traton Group – have announced plans for an electric…
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HydrogenOne plans £250M fundraising for ‘clean hydrogen’ fund, INEOS to be major investor
by New Power •
HydrogenOne Capital Growth Fund has announced plans to raise £250 million and list on the London Stock Exchange by the end of July. It plans to qualify for LSE’s Green Economy Mark at admission, which recognises companies that derive 50%…
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Tilbury biomass power plant changes hands
by New Power •
Fund manager Equitix and Greenvolt have taken ownership of Tilbury Green Power, an operational 41.6MW biomass power plant located in the Port of Tilbury, Essex. Greenvolt, which will own 51% of the plant, is owned by ALTRI, SGPS. Equitix funds…