UK tops G20 for decarbonisation rate but it won’t be enough November 19, 2019 The UK has the fastest decarbonisation rate of the G20 countries since 2000, according to PwC’s low carbon economy index, which was released this morning. However, the UK’s annual rate of 3.7 per cent is well short of the 9.7 per cent that is required if the UK is to achieve its 2050 net zero [...]
Octopus launches new renewables investment trust November 17, 2019 The renewables investment arm of Octopus Group will list a new trust next month, which will buy and operate renewable energy infrastructure assets such as wind farms and solar panels. The Sunday Times reported that the Octopus Renewables Infrastructure Trust is seeking to raise about £250m in December’s float, and has forecast a three per [...]
Future looks bright for NextEnergy Solar Fund November 14, 2019 NextEnergy Solar Fund, the FTSE 250 investment company, announced another robust set of results this morning, as the company’s assets produced 5 per cent more energy than expected. Read more: Sun shines on NextEnergy as it plans global expansion The figures The London-listed company, which operates 89 solar assets across the UK and Italy with [...]
E.on and RWE Renewables agree clean power deal November 12, 2019 E.on and RWE Renewables have agreed a two and a half year deal that will see E.on purchase the power output of 20 of its fellow German company’s British wind farms. The deal will help E.on provide renewable power to 3.3m UK homes. Earlier this year the energy giant announced that it was switching all [...]
Just one in ten energy suppliers have made net-zero plans November 12, 2019 Only 10 per cent of the world’s biggest energy suppliers have made a dated commitment to reduce greenhouse gas emissions to net-zero. According to research published this morning, 13 out of the largest 132 coal, electricity, and oil and gas companies have set a date by which they have pledged to be carbon-neutral. Read more: [...]
Hero’s green energy arm relocates to London after $150m investment November 11, 2019 Hero Future Energies (HFE), the renewable energy subsidiary of India’s Hero MotoCorp, has today announced $150m (£116.5m) in investment to expand its project portfolio. The company also announced that they had relocated their global headquarters to London, citing its status as the leading centre for international finance and ambitions in renewables as the chief reasons. [...]
CNG Fuels to offer first carbon neutral fuels for HGVs November 7, 2019 This morning CNG Fuels, the UK’s leading supplier of renewable biomethane, announced plans to become the first supplier of carbon neutral fuels for heavy goods vehicles (HGVs). The supplier plans to use manure to produce carbon neutral biomethane which will undercut diesel prices up to 45 per cent by 2021. Read more: MPs demand parliament’s [...]
Labour to spend £60bn on household energy programme November 3, 2019 The Labour party this morning announced a £60bn programme of housing improvements designed to cut carbon emissions 10 per cent by 2030. The initiative, which is the largest upgrade of UK households since the post-war reconstruction, will create 450,000 jobs by installing energy saving measures in almost all of the UK’s 27m homes. Read more: [...]
Sajid Javid launches zero-carbon review as government bans fracking November 2, 2019 Sajid Javid will launch a new review this morning of how the UK can maximise economic growth as it transitions to a green economy. The net zero review, which is the first of its type, will determine how the UK goes about achieving its target of zero emissions by 2050. Read more: Energy industry questions [...]
Offshore windfall? Industry could be worth $1 trillion by 2040 October 25, 2019 Offshore wind could become a $1 trillion (£779bn) industry by 2040, according to a new report from the International Energy Agency (IEA). Although electricity generated through offshore wind farms currently accounts for 0.3 per cent of the world’s power, a combination of falling costs and supportive government policies will see capacity increase 15-fold over the [...]