Pensana Rare Earths has announced plans to build the UK’s first rare earth processing facility at Saltend Chemicals Park in the Humber Local Enterprise Partnership. The company has submitted a planning application for the $125M facility, the FT has reported.…
Author Archive for New Power
Eelpower finds Swiss infrastructure fund backer to build battery storage at scale, aims at 1GW
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Eelpower has sold 40MW of existing electricity storage assets to SUSI Infrastructure Partners and won funding from to construct and operate a pipeline of new build battery storage assets that could reach 1GW The first stage of the partnership will see…
Brexit TCA dashes hopes of £15M annual saving on electricity balancing costs – NGESO seeks feedback on the way forward
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The UK’s exit from the EU has shut the GB electricity market out of sharing arrangements for backup power that the UK’s system operator estimates would cut GB balancing costs by €17M (£15.4M) a year. Now NGESO is seeking industry…
OPINION: Heat networks can offer a flexible approach to decarbonisation – tell us your story
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In just five years time renewables are expected to overtake coal to become the largest source of electricity generation worldwide, supplying one third of the total. Andrew Cripps, director sustainability, buildings and places at AECOM, part of the Triple Point Heat…
Anesco and Gresham House join forces for £100M solar farm rollout
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Anesco and Gresham House are embarking on a £100M solar rollout that is expected to see 200MW of ground-mounted projects installed over the next three years. Asset manager Gresham House will fund the portfolio, which will comprise sites ranging in size…
INTERVIEW: Mark Futyan, Anesco
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Mark Futyan started work on transforming Anesco just before the lockdown started. But as he told New Power in this interview first published in August 2020, transforming a relatively small company like Anesco was a very different prospect than making…
Gulf steps into e-mobility space as it joins Clean Growth Fund with £6M stake in Indra smart EV charge company
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Gulf Oil International has moved into the e-mobility sector, investing alongside UK venture capital fund, the Clean Growth Fund, in smart EV company Indra. The two will inject £6million of investment into Worcestershire-based Indra, which manufactures a range of smart…
ACT NOW: recruitment starts for ten community energy ‘mentors’, to help kick start more projects
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CSE, Power to change and Cooperatives UK want to stop community energy groups ‘reinventing the wheel’ and are recruiting up to ten mentors to help groups. The aim is to speed up the learning process, create successful and replicable projects,…
Battery storage investor pool grows, signalling cheaper finance
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A wider range of investors are taking a stake in the battery storage industry, signalling a lower cost to finance, according to new figures from Mercom that also showed a hike in overall investments. Mercom found that total corporate funding…
A good idea a decade ago?
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Once again Kwasi Kwarteng MP talks up nuclear as “The only way we can get decarbonised firm power which isn’t intermittent …We will need a source of power that isn’t fluctuating, that isn’t dependent on the wind blowing and the…