investment

The cost of developing solar projects has increased in upwards of 50% as a result of the Electricity Generator Levy and inflation, Energy UK has said.

Zenobē Energy has started construction of a 300MW/600MWh battery energy storage project in Blackhillock, Scotland, following a £235 million long-term debt facility secured from five banks.

Zenobē secures £235 million to develop two battery energy storage projects in Scotland. The agreement also includes a £400 million accordion facility that will be used to debt finance expansions as well as future projects.

Solar could benefit from a new arrangement which has seen OVO Energy join Community Energy England as a principal supporter.

Power station closures in Fife and East Lothian, combined with rising interest in cheap, renewable energy has seen demand for solar PV soar in Scotland, property consultancy Galbraith has said.

Independent power producer Conrad Energy has secured planning permission for a 15MW battery energy storage system (BESS) in Somerset.

SSE Energy Solutions is to help fund PhD research into the performance of renewable technologies in the business sector at the University Of Glasgow.

Copenhagen Infrastructure Partners (CIP) and Amberside Energy have partnered to develop a 2GW portfolio consisting of solar and battery energy storage system (BESS) projects across the UK.

The UK’s newly introduced Electricity Generator Levy has seen Octopus Renewables’ net asset value (NAV) on its renewable portfolio decrease by £10.6 million as of 31 December 2023.

Strategic Power Projects’ (SPP) managing director Paul Carson has said that Ireland is “now beginning to move in the right direction” upon receiving planning approval for a 125MW solar and 285MW battery energy storage (BESS) co-located site in Movallet, Co.Louth.