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 [...]
Ørsted enters European onshore market with purchase of €570m Brookfield April 16, 2021 Danish energy giant Ørsted has today made its first foray into the European onshore wind market with the acquisition of Brookfield Renewable Ireland (BRI). The Irish firm, which has a portfolio of 389 megawatts of capacity either fully developed or under construction, is valued at €571m (£497.5m). It also has a further 1 gigawatt of [...]
Crown Estate to launch new large-scale floating wind farm leasing round March 24, 2021 The Crown Estate has today announced that it is beginning work on a new leasing round for floating wind power projects in the Celtic Sea. Floating turbines are still an emerging technology, but if successful could enable wind farms to be built much further offshore. In December the UK announced that it would seek to [...]
Bulb calls on Treasury to scrap VAT on green products ahead of ‘tax day’ March 22, 2021 Challenger energy brand Bulb has today called on the Treasury to scrap VAT on green products in a bid to encourage more households to “go green”. According to the firm, which now supplies energy to 1.7m households, scrapping the duty on such items could save the average family £5,500. As a result of the UK’s [...]
Dale Vince interview: Forest Green Rovers chairman and green energy tycoon on climbing the football leagues while saving the planet March 19, 2021 With a large green Union Jack behind him and a casually dishevelled appearance, Dale Vince brings to mind the leader of some rebel republic when he appears on the Zoom call. Being cast as a revolutionary is nothing new to Vince. In business, the former New Age Traveller has turned once-leftfield ideas about green energy [...]
Apple spending from ‘green bonds’ hits $2.8bn March 17, 2021 Apple said this morning the tech giant allotted $2.8bn raised from ‘green bonds” funded 17 projects last year, which will generate 1.2 gigawatts of renewable energy. It said the projects will avoid an average of 921,000 metric tons of carbon emissions each year, which it said is equal to removing nearly 200,000 cars from the [...]
World must invest $131 trillion in clean energy to hit Paris targets March 16, 2021 The world must invest $131 trillion (£94 trillion) in clean energy resources over the next 30 years in order to hit the climate targets set out in 2015’s Paris accords. A new report from the International Renewable Energy Agency (IRENA) found that investment must increase $33 trillion from current plans over the coming decades if [...]