A company developing a new nuclear power technology has launched an equity raising seeking up to €1 billion in funding. Launched in September 2021, the company has already raising a total of €400 million in two fund raises. NewCleo is…
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Ove Arup to explore energy system ‘digital spine’
by New Power •
Ove Arup & Partners has won a £186,000 contract to carry out a feasibility study assessing the feasibility of a ‘digital spine’ concept for the energy system. The ‘digital spine’ is defined by the Department for Business, Energy and Industrial…
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Contracts for Difference budget for upcoming auction set at £205 million
by New Power •
The UK has set the budget for the upcoming Contracts for Difference (CfD) auction for new renewables at £205 million. CfDs are already in place for 27GW of low carbon capacity. The fifth round includes £170 million for established technologies…
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Susgen sells solar and battery development company to RWE
by New Power •
Susgen has sold its UK-based solar and battery storage development company JBM Solar to RWE. Founded in 2012, JBM Solar currently has a pipeline of 6.1GW – 3.8GW of solar and 2.3GW of co-located battery projects. A number of these…
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Llŷr floating turbines take on Owners Engineer to prepare front end design for Celtic Wind demonstrator projects
by New Power •
Developer Floventis Energy has awarded the ‘owner’s engineer’ contract for the Llŷr 1 and 2 wind farms in the Celtic Seas to Kent, in partnership with Vekta Group. The Llŷr projects are demonstrating the potential of two floating offshore wind…
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Work under way on 180-charger EV charging facility at NEC
by New Power •
Construction has started at the National Exhibition Centre (NEC) site in the West Midlands on electric vehicle charging infrastructure that will eventually have 180 charging points, which NEC says will make it one of the largest charging hubs in Europe.…
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Pennon speeds up plans for PV deployment, looks across the UK
by New Power •
Water and waste water company Pennon says it is in “advanced discussions with a range of counterparties” offering large scale solar development opportunities at sites situated across the UK, ranging in capacity up to 60MW. In a trading update the…
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Gresham House storage fund celebrates 20% lift in earnings
by New Power •
Gresham House Energy Storage Fund plc saw earnings increase by over 20% in 2022, to £48 million, thanks to rising prices and increased market volatility. It expects its operational capacity to reach 1GW in 2023 and around 1.5GW in 2024.…
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First floating wind farm off Wales wins development consent
by New Power •
The Welsh Government has granted development consent for Wales’ first floating windfarm, Project Erebus, to be located 40km off the coast of Pembrokeshire. Blue Gem Wind, the joint venture between TotalEnergies and Simply Blue Group, says it is currently on…