Hydrogen ‘hard to beat’ but UK lacks incentives, says Mission Control boss
Chris Stark said at a Westminster committee hearing this month that the government will explore funding methods used for renewable power to support hydrogen storage.
Finance
East Suffolk MP warned “billions worthlessly invested” in Sizewell C
Campaigners have written to Member of Parliament for Suffolk Coastal, Jenny Riddell-Carpenter, about the billions spent on nuclear project Sizewell C, after costs were speculated to end up spiralling to £40 billion.
Solar harvesting market value could double to $548m by 2034
The solar energy harvesting market is expected to more than double in value within a decade, with one forecast suggesting sun power could account for at least half of all electricity in the UK by 2034.
Quinbrook invests £100m in UK hydrogen refuelling
Global investment manager Quinbrook Infrastructure Partners has invested £100 million of equity into Aegis Energy to fund a roll-out of hydrogen and multi-fuel refuelling infrastructure for fleets in the UK.
BlackRock low-carbon ‘transition’ fund turns up the heat on green steel
BlackRock has launched a new low-carbon “transition” fund that will invest in decarbonising materials such as steel.
Four more banks exit the Net-Zero Banking Alliance
Four more banks have left the Net-Zero Banking Alliance (NZBA), a fortnight after Mark Carney announced a shift in strategy at affiliate the Glasgow Financial Alliance for Net Zero (GFANZ).
Investors plough billions into net-zero transition
Bill Winters, CEO of Standard Chartered – one of the major banks left in the Net Zero Banking Alliance – stressed the urgent need to partner on climate action.
KCA Deutag chief to leave after H&P acquisition
US oilfield services Helmerich & Payne (H&P) has completed its acquisition of Aberdeen-headquartered KCA Deutag International Ltd.
Scotland injects £20m in XLCC cable maker in Ayrshire
The high-voltage direct current (HVDC) cable manufacturer is expected to create 900 jobs
Blame game as UK’s last synthetic ethanol plant shuts at Grangemouth
Billionaire industrialist Sir Jim Ratcliffe has blamed Britain's lack of industrial strategy and levies on carbon polluters for the closure of the UK's last plant producing synthetic ethanol.
Diversify or Atrophy: the energy transition finance dilemma
Does energy transition finance need recategorising so decarbonisation isn’t left behind?
UK battery storage industry ‘back on track’
UK battery storage investor Gresham House Energy Storage Fund (LON:GRID) has said the industry is "back on track" as trading conditions improved, particularly in December.
Serica snaps up Parkmead North Sea assets for £14m
The "great" deal for Serica marks the end of Parkmead's long North Sea run
Canada’s Connaught sells out of UK gas field to bullish Reabold
Reabold Resources (AIM:RBD) has bought out its partner in Rathlin Energy, the operator of an onshore gas development in East Yorkshire.
Durham clean power technology H2CHP raises over £2m
Investors alongside Scotland-based syndicate Tricapital Angels means the clean power technology will be developed in Durham, Edinburgh and Aberdeen.
‘Historic day’ as £4bn Teesside carbon capture project goes ahead
The UK’s first ever carbon storage permit has been awarded to BP, TotalEnergies and Equinor’s joint venture project, the Northern Endurance Partnership (NEP).
Star Capital backs Aberdeen-based STR in multi-million pound deal
Private equity firm Star Capital has taken a majority stake in Aberdeen-based Subsea Technology and Rentals (STR) in a multi-million pound deal.
Bank giant ING optimistic about investment ‘greeniums’ next year
Sustainable finance could deliver a premium as banks retrench from fossil fuels: ING expects greater clarity on energy transition finance next year.
‘Anger’ over Scottish budget plan to raid ScotWind windfall
Scotland's finance minister has been warned against raiding a windfall gained through sale of renewables licenses and has been urged to reinvest it in the energy transition.
Aberdeen’s OEG seeking up to £100m in acquisitions a year
Aberdeen's OEG Energy Group has bought up 14 businesses in the last four years and boss John Heiton aims to maintain the pace.
Clean power mission 2030 will take a ‘Herculean’ effort from supply chain
The UK government’s 2030 clean power targets will take a “Herculean” effort from the supply chain, according to Yselkla Farmer, chief executive of energy infrastructure trade association Beama.
Venterra secures £30m bond facility for international growth
Offshore wind services business Venterra Group has secured a £30 million bond facility from HSBC, backed by the UK government’s export credit agency UK Export Finance (UKEF).
Exclusive: Power Roll fundraising for 1 GW solar film factory in County Durham
The solar film developer is raising £30 million in funding to “revolutionise” the global solar industry through lightweight roll-to-roll technology that is not reliant on rare earth minerals.
Union Jack Oil remains bullish on Wressle despite court ruling over emissions
Union Jack Oil plc’s (AIM: UJO) executive chair David Bramhill has said controversially that the “most productive phase” of the Wressle oil field still lies ahead.
Hydrogen market will be £7bn a year opportunity for the UK
With UK government backing, the market for low-carbon hydrogen may be poised for take-off.