World leaders at COP29 agree ‘international carbon market standards’
Commitments at this year’s UN climate talks are ramping up fast, though the conference in oil-producing Azerbaijan has been mired in controversy.
Renewables
Union demands nationalisation of National Grid as profits rise
National Grid (LON:NG) reaped a 14% hike in underlying profit in the first half of 2024, prompting calls from the UK’s major union Unite for it to be nationalised.
Centrica boss Chris O’Shea says government must avoid ‘perverse incentives’
Centrica's chief executive Chris O’Shea has warned that the UK government must avoid “perverse incentives” that encourage grid operators to leave power capacity unused.
National grid operator says clean power mission is ‘achievable’
The National Energy System Operator (NESO) has today concluded that the UK government’s mission to decarbonise the electricity grid by 2030 is “achievable”.
Fears precious Highlands Flow Country ‘could be set ablaze’ by battery storage site
Highland councillors approved the latest renewable development despite concerns over its proximity to the Unesco world heritage site.
Kwarteng questions if windfall tax will end
Former Chancellor Kwasi Kwarteng has raised doubts following Wednesday’s Autumn Budget as to whether the windfall tax on oil and gas profits will ever end.
Ørsted sells £1.7 billion stake in UK wind farms to Brookfield
Danish energy giant Ørsted (CPH: ORSTED) has sold a stake in four of its UK wind farms to US energy investor Brookfield (NYSE: BEP) in a deal worth £1.745 billion.
Energy transition requires extra $1.75tn a year – report
Global investment in the energy transition must double to $3.5 trillion a year to keep global warming below catastrophic levels, according to a new report by analytics and consultancy firm Wood Mackenzie.
Inyanga launches crowdfunding round for tidal energy technology
Inyanga Marine Energy Group said on October 24 that it was launching a crowdfunding round in order to raise funds for its HydroWing tidal energy technology.
BP reportedly considers selling stake in offshore wind business
BP (LON:BP) is reportedly considering the sale of a minority stake in its offshore wind business as it looks to reduce the scale of its investment in the sector.
BP profit warning a bellwether for change
BP PLC has warned that it expects profit margins to slump this quarter due to a fall in oil trading and is instead relying on an unlikely source of growth, electric vehicles, to steady the ship this year.
UK National Wealth Fund to ‘turbocharge’ green technology
The new National Wealth Fund will boost UK investment in green technology, according to business and trade secretary Jonathan Reynolds.
PM vows to replicate success of East Anglia Two offshore wind farm
Ministers said while speaking at the International Investment Summit today that the new government will turbocharge investment in green energy technologies and rip up red tape.
How can energy help achieve ‘national security’?
Energy secretary Ed Miliband told industry at the EnergyUK conference in September that reaching net zero, which the government wants to achieve by 2030, will be a matter of “national security”.
Aberdeen’s Ventex snaps up ‘hidden gem’ nuclear ROV specialist
Climate tech venture studio Ventex has grabbed hold of a remote survey firm that specialises in the nuclear industry.
AquaTerra hits £3m renewables milestone
Aberdeenshire-headquartered AquaTerra Group has hailed reaching a milestone £3 million in revenue from renewable energy contracts.