Downing Renewables & Infrastructure Trust (DORE) has acquired a 13MW portfolio of operational solar PV assets located for £12.6 million. DORE said it has now deployed substantially all of its remaining cash and expects to draw on its £40 million…
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Drax pauses ‘biomass with CCS’ project, returns £150 million to shareholders
by New Power •
Drax Power has halted investment in a project to fit carbon capture and storage (CCS) to units burning biomass at its Yorkshire powersite and instead said in a trading update that it will return £150 million to shareholders. The decision…
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Green hydrogen starts to find use cases within new energy technologies
by New Power •
Two applications could see green hydrogen used to supply the raw materials for new energy industry technologies. The UK’s AMTE Power, which develops and manufactures of lithium-ion and sodium-ion battery cells has signed a memorandum of understanding with CalPac Resources,…
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EU opens joint gas buying scheme as fears are raised over supplies for coming winter
by New Power •
Meanwhile consultant McKinsey has warned that the EU has to reduce gas demand significantly if it is to manage the upcoming winter without Russian gas supplies. McKinsey says Europe needs to reduce its gas demand by 55bcm. In a new…
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‘Lionlink’ multi-purpose interconnector to link GB, Netherlands and offshore wind farms
by New Power •
National Grid Ventures and TenneT, the grid company serving the Netherlands and parts of Germany, have announced plans for a multi-purpose interconnector that will serve offshore wind farms while it connects the UK and the Netherlands. The Department for Business,…
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Thames Water to boost biogas production
by New Power •
Thames Water is planning to increase more than ten-fold the amount of biogas it produces. Typically water companies produce biogas from organic waste and use it to provide the heat needed during waste water treatment and other processes. Thames Water…
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Summer 2023: record low electricity demand expected and less gas required for transit and power generation
by New Power •
System Operator NGESO said this summer it does not expect to call on Optional Downward Flexibility Management (ODFM), a service used in 2020 and 2021 to manage periods of low demand, while technical problems with the French nuclear fleet may…
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Heavy goods vehicle operators call for government strategy and support to decarbonise
by New Power •
The heavy goods vehicle (HGV) sector says lack of infrastructure makes it impossible for operators to contemplate investments to decarbonise their fleets, putting critical CO2 emission savings of up to 21.1 Mt a year at risk. The industry has called…
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Majority of suppliers failing on smart meter installation, prepayment and Economy7 customers badly served
by New Power •
Ofgem said it would prepare enforcement action against 31 energy suppliers who failed to achieve rollout targets for electricity smart meters – a majority of the 49 suppliers required to provide smart meters – and 23 suppliers who failed to…