Solar Markets & Finance

Stuart Elmes, CEO at Viridian Solar and director at the Solar Trade Association, gives his two cents on this week’s long-awaited announcements from the government and Ofgem.

The new BlackRock and Lightsource solar initiative will target both large and small portfolios on the UK secondary market as it opens its hefty cheque book.

UK solar jobs, turnover and operating companies all witnessed significant declines last year as a result of what the Renewable Energy Association has termed a Westminster policy ‘bonfire’.

CCL Components has launched a commercial project finance offering to help installers overcome limits on available capital in new projects, enabling them to grow in size and capability.

Lightsource and BlackRock Real Assets have combined to launch a £1 billion play to consolidate the UK’s secondary solar market.

Yesterday’s development from Ofgem and the Department for Business, Energy and Industrial Strategy have garnered a significant response from the industry, the majority of which has been overwhelmingly positive.

Yesterday the government and Ofgem published its strategy for a modernised, smart and flexible power system, the result of its eagerly anticipated response to last year’s Smart Power Call for Evidence. Solar Power Portal picks through the document to assess how the domestic solar and storage industries may benefit.

Foresight Group has made its second acquisition of a battery storage project, taking on the 10MW Nevendon battery from Gridserve and Aura Power.

Regulations implemented earlier this year retroactively cutting tariffs under the Northern Ireland Renewable Heat Incentive (RHI) could create a legal precedent to reduce agreed support in schemes across the wider renewables sector.

Leading asset management group BlackRock has taken its Renewable Income UK fund up to £1.1 billion, making it one of the largest single investments in renewable energy.