Electricity Generator Levy: New UK renewables projects to be exempt
Meanwhile capital allowances on investments — a form of tax relief designed to ease upfront costs — will remain in place, in a boon to renewables developers.
renewables
Scottish Government downgrades estimate of European offshore energy share
Ministers now say Scotland has around 10% of European Union offshore energy potential, down from previous claims of 25%
Decom Mission targeting greater project visibility amid sector challenges
The decommissioning sector is facing a myriad of challenges including inflationary pressures, skills shortages and a lack of project visibility according to Decom Mission, the Aberdeen-based trade body representing the industry.
Updated: Orsted plunges on abandoned US wind plans, $4 billion writedown
Orsted A/S (CPH: ORSTED) shares slumped to their lowest level in six years after the Danish utility dropped two US wind projects and recorded 28.4 billion kroner ($4 billion) in impairments as the crisis in the wind industry is only getting worse.
World’s top renewable firms reel even as installations surge
The biggest manufacturers of wind turbines and solar panels are facing their most serious financial challenges in years even as deployments of clean energy head for an annual record.
New 6.7MW Ecosse Solar Park opens in Forfar
A new 20-acre solar park has opened in Angus in the Northeast of Scotland, boosting green energy production in the local area.
Goldwind profits plunged even as wind power surges in China
Xinjiang Goldwind Science & Technology Co., the largest wind-turbine maker, said profit plunged as a price war continues to offset some of the benefits of China’s surge in clean energy investment.
New ‘state-of-the-art’ tidal turbine blade manufactured by FastBlade in Scotland
A new 'state-of-the-art' tidal turbine blade has been manufactured in Scotland for the first time, and engineers say it could reduce the levelised cost of tidal energy (LOCE).
New York awards contracts for three offshore wind projects
New York has selected three offshore wind farms to negotiate power contracts with the state as the industry faces increasing challenges from rising costs.
Scottish Renewables says action needed to maintain UK position as ‘world leader’
Scottish Renewables is calling on the UK government to take urgent action to maintain the country's position as a 'world leader' in renewables.
Aurora Energy acquires US wind turbine firm in first international takeover
Inverness-headquartered Aurora Energy Services has acquired US wind turbine blade repair and maintenance specialist Cotech Group in its first international takeover.
UK fund proposed to respond to US Inflation Reduction Act
The UK will fall further behind the US on green technologies without a national investment fund to help turn start-ups into the companies of tomorrow, a leading think-tank has warned.
Effective supply chains fundamental to just transition
Just a few weeks ago, the UK’s Energy Transitions Commission stated: “Rapidly scaling sustainable, diversified, and resilient clean energy supply chains is key to achieving net-zero targets on-time and at as low a cost as possible”.
Winser Report: UK can build new power lines in half the time, top adviser says
Electricity transmission line construction can be cut to 7 years from 14 years, says Nick Winser in his report delivered Friday.
Shell explores sale of stake in renewables unit
The deliberations come as CEO Wael Sawan focuses the company’s investments on fossil fuels.
Big Oil’s green retreat helps clear the way for everyone else in renewables
Big Oil won’t be missed by its renewable power competitors.
Shell demands profits from green energy unit, not just CO2 cuts
Shell (LON: SHEL) executives are telling their renewable power business that it needs to become more profitable, not just deliver lower carbon emissions, and pull back from the less successful elements of its clean-energy strategy.
Where we’re going with skills mix: a new paradigm for a sustainable energy future
The next few years for the renewable energy sector will look very different from the decade just passed! At a recent event dubbed ‘Green Energy Day’ or ‘Energy Security Day’, the UK Government unveiled its plans for ‘Powering-up-Britain’ by sharing its package of green energy policies aimed at fast-tracking the UK’s net zero target whilst also ensuring a balanced energy mix to ensure security of supply.
‘Who cares wins’: Could ESG investment woes hit the UK supply chain?
Deal-making in the energy industry is no longer a simple affair, regardless of whether it is fresh investment in new capital projects off- or onshore; assets trading; oil & gas/power generation company mergers and takeovers, or supply chain related.
UK green energy sector ‘in the balance’ with ‘multi-billion pound’ projects at risk
Westminster’s intervention in the electricity market risks “mothballing a series of multi-billion pound” green energy projects, a major investor has warned.
Petronas buys big Australian solar portfolio for top dollar
Petronas is the latest big oil company to move into Australian renewables, with the Malaysia state-backed energy company reportedly poised to acquire the local assets of German solar and storage developer Wirsol.
India can add oil and gas while it chases green goal, Modi says
India, the third-largest greenhouse gas emitter, is planning for an expansion of its oil and gas sectors even as it aims to hit net-zero by 2070.
India says its path to net zero must pass through fossil fuels
India defended its use of fossil fuels citing energy security priorities, even as the country vowed to remain committed to decarbonisation.
Bangladesh leans to coal power as renewables face challenges
Bangladesh is set to increase its coal-based power generation capacity to ensure supply security at a time when many other countries are focussing on cutting dependency on thermal coal power to achieve climate goals.
South Korea curbs plans for renewables in push for more nuclear
South Korea will boost nuclear power generation and downgrade its plans for renewable energy as the nation overhauls its electricity mix to meet emissions reduction targets.