Legal & General Capital and Systemiq have announced an investment in Upside Energy, a Manchester-based company that has developed a cloud platform that uses advanced algorithms and artificial intelligence to co-ordinate connected devices to deliver flexibility services to the energy system.…
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Shell to acquire First Utility
by New Power •
Shell is to buy 100% of First Utility, subject to regulatory and other approvals. The deal is expected to complete in early 2018. Shell said its energy supply, trading and marketing expertise, combined with First Utility’s experience, will enable First…
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Ofgem allows Ofto compensation after ‘exceptional’ cable outage at Walney 2
by Annabel Andrews •
Ofgem has granted a claim for compensation for cable failure in the subsea connection to the Walney 2 offshore wind farm. The regulator decided that the failure at Walney 2 from 14 December 2015 to 19 March 2016 was an ‘exceptional event’…
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Nord Pool seeks GB flex providers to help develop flexibility market platform
by New Power •
Power exchange Nord Pool has joined with Norwegian energy company Agder Energi to jointly develop a new marketplace capable of exploiting decentralised flexibility. Now Nord Pool says it has “ambitions to have a pilot in the GB as soon as…
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Greencoat buys Dromadda More wind farm, looks for more acquisitions
by New Power •
Greencoat Renewables has agreed to acquire the 36MW Dromadda More wind farm in County Kerry from Impax. The 11-turbine wind farm is currently being energised and is expected to be commissioned in March 2018, at which point the acquisition will…
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European utilities write-off €23b from assets, despite fall in impairments
by Annabel Andrews •
New EY research finds that 2016 saw a significant fall in asset impairments reported by European utilities. But according to the report, at €23b it was larger than might have been anticipated given a recovery in energy commodity prices, and…
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Solar fund acquires two new plants
by New Power •
Next Energy Solar Fund has acquired two operating solar plants with a total installed capacity of 8.6MWp. They are Gilley’s Dam (5.0MWp, Cornwall) and Pickhill Bridge (3.6MWp, Wrexham). Gilley’s Dam was connected to the grid during March 2016 and receives…
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BP and Lightsource to partner in £200 million deal to drive solar development worldwide
by New Power •
BP is to invest £200 million in solar developer Lightsource over there years. It will acquire 43% of the company over that time, the company will be renamed Lightsource BP and BP will have two seats on the board of…
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Design for new nuclear plant for Wylfa gets green light from regulator
by New Power •
The UK Advanced Boiling Water Reactor (UK ABWR), designed by Hitachi-GE, is suitable for construction in the UK, the Office for Nuclear Regulation has concluded. Horizon is planning to build and operate two of the ABWRs, which will together provide…