Renewables

Irish tidal firm goes into liquidation

Irish tidal firm goes into liquidation

Irish tidal energy firm OpenHydro has been forced into liquidation after its French parent company Naval Energies ceased investment in the struggling company. Many companies within the European renewables community have described the situation as a significant setback for tidal technologies. OpenHydro was expected to make losses of over £114 […]

Proposal for America’s largest wind farm rejected

Proposal for America’s largest wind farm rejected

The Texas Public Utility Commission has dealt a crushing blow to American Electric Power Co’s Wind Catcher project by unanimously rejecting a proposal for the largest wind farm in the US, that was proposed to be built at a cost of $4.5 billion. The commission said the project does not […]

Goldman Sachs predicts major decline in solar demand

Goldman Sachs predicts major decline in solar demand

Banking giant Goldman Sachs has forecast a 24% decline in the global solar industry this year, which would be the first market contraction of its kind. Goldman is not alone in predicting a negative future for the world’s solar industry with Credit Suisse and Bloomberg NEF also anticipating declines across […]

SSE lose £80m in profits because of good weather

SSE lose £80m in profits because of good weather

Reduced output from renewable energy sources and higher gas prices have led to an £80 million hit on operating profits at SSE during the first quarter of this financial year. The Big Six firm has stated that its operating profits, for the three months to the end of June, have […]

Gas prices up on low wind output

Gas prices up on low wind output

Wholesale gas prices in the UK rose this week as demand from gas power plants rose following low wind output during the current heatwave. On Tuesday, within-day contract was up 1.00p for TRGBNBPWKD at 56.75p per therm, while day-ahead gas TRGBNBPD1 was also up 1.00p at 56.60p per therm. One […]

“No plans” for BP to invest in Scottish renewables

“No plans” for BP to invest in Scottish renewables

Nick Wayth, head of BP’s alternative energy division, has said that the global energy giant has “no plans” to invest in the Scottish renewable sector, while answering questions on the social media platform Linkedin. When asked during the session whether BP would be investing in North Sea renewables, he said: […]

Government reject Swansea tidal project

Government reject Swansea tidal project

The UK Government has rejected Swansea’s proposed tidal lagoon that was set to cost £1.3 billion due to the high costs associated with the renewable project that taxpayers would have had to subsidise for decades to come. The business secretary, Greg Clark, told parliament: “The inescapable conclusion of an extensive […]

New solar installations halve for second consecutive year

New solar installations halve for second consecutive year

New solar power installations in the UK have halved for the second consecutive year as a result of the government’s decision to cut green subsidies in a move to protect consumers from increasing energy bills. Europe’s solar trade body, SolarPowerEurope, said Britain had the slowest growth of the world’s top […]