Germany just set a new record in renewable energy, with solar, wind, biomass and hydro accounting for 78pc of the country’s energy consumption July 31, 2015 Germany set a new record in renewable energy, with over three-quarters of the country’s consumption coming from green energy. A few sunny hours last Saturday were enough for a new high in renewables, as green energy accounted for 78 per cent of Germany’s energy consumption. Solar and wind alone accounted for 40.65 gigawatts of the [...]
Drax Group share price powering up as firm swings back into profit July 28, 2015 Shares in power station firm Drax Group leapt up by almost 10 per cent yesterday, after the company swung back to a profit in the six months to 30 June. Drax posted pre-tax profit of £53m, up from a loss of £11m in the same period last year, and increased its dividend to 5.1p per [...]
Government to stop funding Green Deal due to low take up rates and concerns over taxpayer money July 23, 2015 After not enough people took up the government on its offer, it quietly announced today that funding for the Green Deal, its household energy efficiency programme, has been cut. Read more: Green Deal faces criticism with uptake of only 1,612 last year Under the scheme, households could use cheap long-term loans to make their homes more energy efficient [...]
World’s first solar-powered plane Solar Impulse 2 grounded; halts its record-breaking round-the-world flight until 2016 July 15, 2015 The world's completely solar-powered plane, Solar Impulse 2, has had to halt its round-the-world journey in Hawaii after overheating its batteries in a record-breaking flight. Pilots of the experimental plane, the first of its kind, were attempting to circle the globe powered only by the sun’s rays. But today its website was updated: Breaking news: [...]
Oil giant Petroleum Development Oman plans huge solar farm to extract oil July 14, 2015 It sounds like the opening line of a gag: an oil giant is set to built the world’s largest solar project. An unexpected alliance will have Petroleum Development Oman, the country's state oil company, teaming up with Californian solar power startup Glasspoint to build a solar plant with capacity for more than a gigawatt of [...]
Bluefield Partners plans solar fund IPO to raise £142m July 13, 2015 Bluefield Partners yesterday said it is planning to float a second solar energy fund on the London Stock Exchange, which it hopes will raise at least €200m (£142m). Unlike its first listed fund, which invests in UK solar energy assets, the Bluefield European Solar Fund will look for opportunities in Eurozone countries – excluding [...]
UK renewables on the rise – but we’re far behind other EU countries July 9, 2015 The UK’s renewable energy consumption is on the rise – but we’re still lagging far behind other EU countries. Renewable and waste sources account for 5.6 per cent of the UK’s total energy in 2013, according to new figures released by the ONS today, suggesting that the UK’s economy is getting greener. This means renewables [...]
July Budget 2015: Shares dive for green energy firms as Osborne scraps tax exemption July 8, 2015 In today's Budget, chancellor George Osborne announced that the government is scrapping a green tax exemption enjoyed by renewable energy companies since 2001. Read more: George Osborne cuts corporation tax and bank levy as he tells firms "Britain is open for business" Currently, tax is not paid on renewable electricity supplied to businesses under renewable [...]
Green Investment Bank moves into profit ahead of government sale June 25, 2015 The government's Green Investment Bank (GIB) moved into profit in the past six months, it was revealed today – coinciding with the government’s decision to sell off its £1.4bn stake in the enterprise. At a London review, attended by chancellor George Osborne and business secretary Sajid Javid, the Edinburgh-based institution said it made a profit [...]
Wind energy subsidies will end next April June 18, 2015 The government has moved forward the end date for onshore wind energy subsidies, it revealed yesterday. The Department of Energy and Climate Change will close the renewables obligation to new onshore wind generating stations from 1 April 2016. The Conservatives had pledged to stop the subsidies in their manifesto ahead of the General Election, however [...]