Institutional investor EIG has announced the launch of Fidra Energy, headquartered in Edinburgh, which aims to establish a 10GW platform of batteries across the UK and other European markets by 2030. The company is developing three of the largest battery…
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Interview: chief executive Peter Stanley on Elexon’s new role
by New Power •
Elexon chief executive Peter Stanley admits that his company was far from being the favourite when Ofgem invited bids to take on a new role, that of local electricity market facilitator. I meet him to ask about that new role…
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Canadian pension fund takes stake in UK pumped storage
by New Power •
Canadian pension fund CDPQ has announced it will acquire Brookfield Asset Management’s 25% stake in pumped storage plant operator First Hydro Company for a reported £500 million. Engie is the majority shareholder who owns the remaining 75% of the company.…
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ScottishPower Renewables expands footprint in Lowestoft
by New Power •
ScottishPower Renewables has acquired a new site in Lowestoft’s PowerPark and confirmed it as the long-term home for its UK offshore wind operations. The company is investing around £8 million to acquire and develop the site on Trinity Road –…
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Polling finds support far outweighs opposition for new wind farms
by New Power •
Fred. Olsen Renewables has claimed a high level of support for accelerated progress on wind power to meet national clean energy targets, based on opinion polling evidence. However, the polling found that government and industry have still to convince the…
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Root-Power’s Coryton battery set for new year startup
by New Power •
Root-Power has begun construction of an 11MW battery at Coryton Energy Park, in Corringham, Essex. The site will go live in Q1 2025 and has been designed with a 2-hour storage duration. Development work on the project, located in London…
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Swedish heat pump company opens Scotland facility
by New Power •
Swedish heat pump company Aira has opened a new facility at the Springkerse Industrial Estate in Stirling, central Scotland, to serve Scottish customers. In 2025, the company plans to open an Academy at the site to provide training for the…
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Shift from markets towards central planning set to speed up clean power delivery
by New Power •
A shift from markets towards central planning will help deliver the UK’s target of a clean electricity system by 2030, speakers at the BIEE’s biennial Policy Conference suggested. Rebecca Sedler, managing director, interconnectors, at National Grid Ventures, said that the…
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EU Skills: changing energy industry needs to recruit nearly 25k new skilled workers per year over the next six years
by New Power •
The power industry has to recruit over 22,400 people over the next six years to achieve its Net Zero while the gas industry will require over 2000 people annually to launch a hydrogen industry, according to new figures from Energy…