Aquila Energy Efficiency Trust has announced plans to raise £150M to invest in energy efficiency projects with corporates in the UK and Europe, via an initial public offering and listing on the London Stock Exchange. It plans to offer efficiency…
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Mott MacDonald Ventures joins with Clean Growth Fund in Piclo investment
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Mott MacDonald Ventures is to take a stake in Piclo, the energy flexibility trading platform that connects buyers and sellers of energy. It has made an equity investment as part of a Series A £4.7M funding round the Clean Growth Fund (which…
Symbio Energy hit by £100k penalty, Ofgem says saga showed ‘serious weaknesses’ in Symbio’s financial management
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Supplier Symbio Energy will be fined £100,000 for repeated late payments under the feed-in tariff and Renewables obligation schemes, Ofgem has announced. The proposed penalty has been the subject of correspondence between the company and the regulator, not least because…
ACT NOW: Environmental Audit Committee calls for evidence on building a UK supply chain for EVs and their batteries
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The Environmental Audit Committee (EAC) has opened an inquiry into the supply chain for battery electric vehicles and asked for evidence from stakeholders.. It says a supply chain focused on battery technology and the associated power electronics, machines and drives…
ITM Power spins off ITM Motive: hydrogen fuelling company plans more filling stations for vehicle fleets
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Hydrogen vehicle refuelling company ITM Motive has been spun off as a separate, wholly owned subsidiary of its parent ITM Power. All English refuelling assets have been transferred to ITM Motive, which was set up as a division in 2020…
Foresight Solar Fund takes first battery storage stake alongside JLEN
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Foresight Solar Fund has acquired a 50% equity stake in Sandridge Battery Storage, which is developing a 50MW lithium-ion battery energy storage system in Melksham to be energised in October 2022. JLEN Environmental Assets Group will also acquire a 50% equity…
Fires hit US biomass plant owned by major UK supplier
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For the second time within a month fire has broken out at a facility in North Carolina, US, processing wood pellets for Enviva, a major supplier of biomass to UK power plants. Campaigners in the southern USA say this is the…
Ørsted warns of £350M bill to repair array cables in its offshore wind farms
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Ørsted has warned that it expects to pay out an estimated DKK3 billion (£350 million) between now and 2023 to take remedial action on damaged cables within up to 10 of its wind farms offshore of the UK and Europe. The so-called…
Scottish farm slurry to provide heat and hot water for London’s King’s Cross
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The 67 acre King’s Cross estate is to switch to green gas, in a deal agreed with Iona Capital, to provide its heat and hot water for its 2,000 homes, 5 million square ft of offices, retail and dining space.…
Government spending watchdog says HM Treasury is failing on environmental taxes: poor strategy, tracking and leadership
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Treasury and tax departments have little understanding of whether the four taxes classified as ‘environmental taxes’ have achieved their aims, or of how the tax system as a whole can support environment goals, according to new findings by the Public…