A subsidiary of Drax (Drax Bidco) has beat a recent bid by Foresight Group to acquire battery operator Harmony Energy Income Trust (HEIT). Drax Bidco has offered 88p per share, valuing the company at £199.9 million. Last week Foresight announced…

Read more →

Battery revenues have quadrupled since December 2024, according to recent analysis by Cornwall Insight, largely because of much higher revenues from grid stabilising reserve services. Such services were just 4% of revenues at the start of December 2024. But Cornwall…

Read more →

Ofgem has given the go-ahead for transmission network companies to procure equipment earlier to speed up network expansion. Huge investment is required in the electricity transmission network, but transmission owners face constraints in the supply of equipment and services also…

Read more →

A feasibility study has set out nine options for its future of the Grangemouth site following the recent decision by Petroineos to decommission the oil refinery . A ‘Grangemouth Investment Team’, comprising the Scottish Government, UK Government, the Office for…

Read more →

The Competition and Markets Authority (CMA) has cleared Scottish Power owner Iberdrola’s acquisition of an 88% shareholding Electricity North West. Iberdrola said it was part of its strategy to strengthen its networks business in countries with strong ratings, such as…

Read more →

Energy regulator Ofgem has given the go-ahead for transmission network owners to book supply chain capacity early, so that expansion of the high-voltage electricity grid can move forward faster. The new Advanced Procurement Mechanism allows GB’s three transmission owners (National…

Read more →

A report written by an independent commission for the Western Gateway local partnership has supported investigating tidal lagoons in the Severn Estuary. The Commission called for tidal range options to be supported in a Tidal Range Energy National Policy Statement…

Read more →

Kia Stockton dealership, in Stockton-On-Tees, will in future meet around 45% of its energy needs from solar panels on its roof. The 601kW solar roof, projected to generate 538,000kWh annually, was developed by Ortus Energy in partnership with SSE Energy…

Read more →

Foresight Group LLP has said it is considering an offer for Harmony Energy Income Trust plc. The possible cash offer of 84.0 pence per share values the ordinary share capital of HEIT at £190.8 million and represents a 29% premium…

Read more →

NORD/LB bank has announced a landmark £180 million financing package for a portfolio of nine batteries totalling 612MW/1,652MWh, to be built across England and Wales. The portfolio belongs to Constantine Energy Storage, a partnership of the Alberta Investment Management Corporation…

Read more →