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Renewables/Energy Transition

Orkney renewables firm receives £5.7million cash boost

18/12/2015

The Orkney firm behind plans for the world’s biggest tidal turbine said yesterday it had secured a further £5.7million for the project. Kirkwall-based Scotrenewables Tidal Power (STP) said the massive two megawatt floating device, which is about 250ft long, was nearing completion at Harland and Wolff (H&W) shipyard in Belfast. It is due to be launched early next year before being towed to the European Marine Energy Centre in Orkney for the start of grid-connected testing.

Renewables/Energy Transition

Government accused after solar panel subsidies slashed

17/12/2015

The Government has been accused of “huge, misguided cuts” to clean energy after it announced reductions of almost two-thirds to subsidies for solar panels on homes. The move, which ministers say is necessary to curb rising costs of green energy on consumer bills, comes just days after the UK backed the world’s first universal agreement to avoid dangerous climate change by bringing down greenhouse gas emissions. Reductions in payments under the “feed-in tariff” scheme for energy generated by new small-scale renewables are not as severe as originally proposed in the summer, when ministers floated an 87% cut for domestic solar electricity compared with current levels.

Renewables/Energy Transition

Small scale solar panel subsidies to be cut by 64%

17/12/2015

Subsidies for small scale solar panels on homes are to be cut by 64%, the Government has announced. Reductions in payments under the “feed in tariff” scheme for energy generated by new small scale renewables are not as severe as originally proposed in the summer, when ministers floated an 87% cut for domestic solar electricity.

Renewables/Energy Transition

Atlantis Resources strikes a deal to acquire two projects

17/12/2015

Atlantis Resources has struck a deal to acquire two projects from Scottish Power Renewables UK for its tidal development company. The deal for Tidal Power Scotland (TPSL) is estimated to be around £6.6million, or 3,859,703 shares, which equates to around 6% of the issued share capital. Atlantis said as part of the transaction, TPSL will acquire Scottish Power Renewables entire tidal portfolio, comprising the 10MW Sound of Islay site and the 100MW Ness of Dunscaby site.

Renewables/Energy Transition

Technology created by Aquamarine goes up for sale

16/12/2015

Technology developed by wave energy company Aquamarine Power has been put up for sale as its administrators try to recoup some of the £90 million invested in the business. Graham Newton and James Stephen from accountancy firm BDO were appointed as administrators of the Edinburgh-based company in October. They were asked by its directors to find a buyer or investors for the business, but a month later in November no offers were on the table and so the firm ceased trading, with the loss of 13 jobs in Edinburgh and one in Belfast.

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