Spending watchdog slams government’s Green Homes Scheme September 8, 2021 The National Audit Office (NAO) has criticised the government’s abandoned £1.5bn Green Homes scheme as “rushed,” saying it frustrated homeowners and failed to create jobs. The Green Homes grant scheme was introduced to help meet the Government meet its ambitious target of net-zero carbon emissions by 2050. Buildings account for 19 per cent of UK [...]
Low wind speeds deflate Orsted’s earnings August 13, 2021 The world’s leading offshore wind provider has warned that its profits for 2021 have been buffeted by low wind speeds The UK’s coastline is normally a prime location for wind speeds, particularly in the North Sea where Orsted has most of its wind turbines. However, in April, May and June wind speeds were the worst recorded [...]
Green economy Spac Spinnaker plots London stock market float July 26, 2021 A special purpose acquisition company (Spac) focused on sustainability and green energy is planning an initial public offering on the London Stock Exchange. Spinnaker Acquisitions — a blank-cheque firm that will target mergers in the green economy — will list in London this week. The company said it will target businesses valued at between £5m [...]
Ecotricity makes fourth takeover bid of Good Energy for £60m July 22, 2021 Ecotricity has made a new higher offer in its takeover pursuit of fellow green energy supplier Good Energy, after a series of rejected offers since June. The latest cash offer, announced this morning, is at 340 pence per share, valuing the Chippenham-based company at around £59.5m. It marks a rise on Ecotricity’s initial indicative offer [...]
Every UK job has the potential to be green, government-backed taskforce says July 14, 2021 Every job in the UK has the potential to be green, according to an independent report today, as long as the right investment is unlocked. The Green Jobs Taskforce, which wrote the report and is backed by the UK government, has been set up to build the workforce needed for prime minister Boris Johnson’s ‘green [...]
Payouts may be given to families to offset higher gas bills under new green government plan July 9, 2021 Families may be provided with cash payouts to offset the cost of higher gas bills under a new green government plan. Whitehall advisors have been discussing plans to compensate households for the more expensive gas bills which will arise from the government push to reduce carbon emissions. The proposals will be aimed at encouraging households [...]
Gas firms pushed UK minister to burn more gas in transition to clean energy July 7, 2021 Fossil fuel giants lobbied a UK government minister to use more natural gas in the transition to lower carbon energy production. As reported by Channel 4, a memo released under the Freedom of Information Act details how firms pushed the then-trade minister Connor Burns to accept a “greater recognition” of gas. The document, obtained by [...]
BP invests $220m in US solar development projects June 1, 2021 BP today boosted its investment in US renewables with a $220m purchase of solar projects from developer 7X Energy. The energy giant struck a deal for assets with a production capacity of 9GW, which will be developed through a joint venture with Lightsource, Europe’s largest solar developer. It marks BP’s first independent investment in solar [...]
Estonian fuel cell developer gears up for £200m AIM listing May 17, 2021 Estonian fuel cell developer Elcogen is preparing to list on London’s AIM market, in a move that could see it valued at as much as £200m. The Tallinn-based business wants to raise funds to increase its manufacturing capacity with a new factory in Estonia, in order to take advantage of the boom in interest in [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]