Vattenfall has decided to halt development of its huge Norfolk Boreas offshore wind farm, citing “challenging market conditions”. It said, “The offshore wind industry has seen cost increases up to 40% which in combination with increased cost of capital puts…
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UPDATED deadline ‘a few days’: Battery manufacturer AMTE Power on four week deadline to source new funding
by New Power •
AMTE Power says it “continues to be in discussions with existing and potential investors concerning raising further finance. However, given the further passage of time since the most recent announcement on 29 June 2023, the Company’s financial situation is becoming…
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Construction begins on 1.4GW NeuConnect link with Germany
by New Power •
Construction has started on the £2.4 billion NeuConnect interconnectpr between GB and Germany. Led by global investors Meridiam, Allianz Capital Partners, Kansai Electric Power and Tokyo Electroc Power (Tepco), the 725km of land and subsea cables will transport up to…
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New integrated supplier Fuse Energy acquires first PV farms
by New Power •
Bullous Park Ethical Power, Hive Energy and CH1 Investment Partners LLP have sold two solar farms, 5.1MW Netley North and 12.1MW Bullous Park solar farms, to Fuse Energy. The solar farms were owned by investment vehicle Hive Ethical UK Solar…
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Offshore solar PV panels to be launched in 12-month test
by New Power •
Specially designed floating PV panels that can be used at sea are to be towed offshore, anchored, and put into operation to gather data for at least a year starting in August. SeaVolt, a collaboration between Tractebel, DEME, and Jan…
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New nuclear body launches aiming for investment decision on SMRs by 2029
by New Power •
The government has launched Great British Nuclear (GBN), an arms-length body intended to boost the delivery of new nuclear. The body has been launched with interim chair Simon Bowen and chief executive Gwen Parry-Jones. Key among GBN’s activities will be…
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Energy costs pile pressure on South East Water
by New Power •
South East Water, which serves Kent, Sussex and the Hampshire, Berkshire and Surrey region, saw “significant increases in the cost of power, chemicals and other energy intensive products” in the year to 31 March 2023, according to the company’s annual…
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Swiss town to decommission gas grid for residential heat by 2040
by New Power •
A Swiss city is has announced it will decommission 80% of its 220km gas grid by 2040, Energy Cities reports. Citzens of Winterthur, near Zurich, voted in favour of the city reaching climate neutrality by 2040. In an interview with…
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ACT NOW: DESNZ wants feedback on setting up £170M of ‘market pull’ climate financing
by New Power •
The Department of Energy Security and Net Zero is asking for industry input on developing a so-called ‘Climate Innovation Pull Facility’. It says, “Through pull finance, this facility will support innovation, scale up and market building for climate change mitigation…