Lancaster-based NanoSUN, which supplies mobile hydrogen storage and refuelling systems, has won £12 million in new funding. The biggest funder was a £9.05 million private equity injection from HydrogenOne Capital Growth plc, with other new investors including Germany’s Westfalen Group.…
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Remaining suppliers hit by £205M bill to cover Renewables Obligation gap
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Renewables Obligation (RO) payments have fallen short by £204,786,037.53 in England and Wales and by £13,514,114.20 in Scotland, Ofgem says. There was no shortfall in the Northern Ireland scheme. The shortfall has triggered ‘mutualisation’ and suppliers who met their RO…
Gas networks provide funding for Fuel Bank Foundation’s emergency energy support for consumers
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Four gas distribution networks – Cadent, Northern Gas Networks, SGN and Wales & West Utilities – are to jointly provide £500,000 fund to the Fuel Bank Foundation over over two years to support households affected by the fuel crisis. The…
Consent for Swansea Lagoon lapses as it fails to meet requirement to start work within five years
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The developer of the Swansea Bay Tidal Lagoon has failed to convince the High Court that it has ‘commenced development’ on the project, a judgement which means that the project’s development consent will lapse. Development consent requires the project to…
UK Infrastructure Bank’s first investment is £250M in unsubsidised solar PV
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A solar infrastructure fund with NextEnergy Capital is the first private sector transaction made by the UK Infrastructure Bank. At £500 million, the private 10-year solar infrastructure fund, NextPower UK ESG, will be the largest subsidy-free solar investment fund in…
NGET and SPT to return £158M to customers after Western Link delays
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£143 million will be returned to customers via reduced transmission network charges in their bills, and £15 milion will be paid into Ofgem’s redress fund, after network owners Scottish Power and National Grid accepted responsibility for late delivery of the…
Is energy networks’ innovation funding working? Ofgem asks for feedback as it develops new ‘strategic funding’ with bigger role for third parties
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Is Ofgem’s innovation framework working? The regulator’s Network Innovation Allowance (NIA), introduced in 2013 has provided funding to over 1000 small technical, commercial or operational projects directly related to the gas and electricity networks. Its Network Innovation Competition (NIC), also…
Scottish small hydro projects change hands
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Triple Point Energy Efficiency Infrastructure Company has acquired six hydropower assets in Scotland with a total installed capacity of 4.1MW, all of which have five years or more of operational performance history. The six plants, all feed in tariff accredited,…
Irish storage project capacity to increase from 30MW to 120MW
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A storage project under construction at Kilmannock, in the Republic of Ireland, will have four times the original planned capacity. Gore Street Energy Storage Fund said Kilmannock had secured an increase in its allocated grid connection capacity of 90MW, in…
Renewables investor says diverse portfolio helped balance record low wind speeds – as electricity price increases raise valuation
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Wind speeds at their lowest for 20 years in some areas resulted in wind generation 32% below budget in the six months to 30 September, according to a half-year update from environmental infrastructure investor JLEN Environmental Assets Group. However, some…