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UK Government confirms rise in oil and gas headline tax and investment in clean energy

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Rachel Reeves, the UK’s Chancellor of the Exchequer, delivered Labour’s first budget in over a decade, confirming a rise in the headline tax rate for the oil and gas industry to 78%, one of the highest globally.  This tax will also extend until 31 March 2030. The UK Offshore Energies Association (OEUK) warned in September that the tax would threaten jobs and disrupt progress toward net-zero targets, stressing the need for industry-government collaboration. The Labour…

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CCI acquires Dutch battery storage platform LCEGS

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S4 Energy, a subsidiary of Castleton Commodities International (CCI) specializing in grid-scale battery energy storage, has acquired Netherlands-based LC Energy’s battery storage platform, LCEGS.  This acquisition enhances the energy grid’s resilience by merging LCEGS’ development expertise with S4 Energy’s operational experience. Battery energy storage is crucial for Europe’s decarbonisation goals and grid stability. With increasing reliance on renewable energy and demand from sectors like data centres, battery storage is set to play a key role…

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ACWA Power grows renewable portfolio in Africa

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ACWA Power’s Redstone Concentrating Solar Power (CSP) plant in South Africa has synchronized 50 MW to the national grid, with full capacity expected to reach 100 MW shortly.  Developed in collaboration with Herlogas and SEPCOIII, the Redstone CSP is set to deliver clean energy to approximately 200,000 households, significantly curbing carbon emissions. Meanwhile, the Kom Ombo Photovoltaic (PV) plant in Egypt has achieved its full production capacity of 200 MW, supplying clean energy to over…

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KETRACO completes 133 kV Loitoktok substation in Kenya

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The Kenya Electricity Transmission Company Limited (KETRACO) has completed a new 132/33 kV substation in Loitoktok, Kajiado County, aimed at improving reliable power delivery to Merrueshi, Loitoktok, and surrounding areas.  Alongside this development, KETRACO plans to extend the existing 132/33 kV substation in Sultan Hamud, Makueni County, to further stabilize the regional grid. China Aerospace Construction Group Limited is overseeing the project, with funding provided by the EXIM Bank of China and the Government of…

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Moroccan government partners with Total Energies H2 for ‘Chbika’ green hydrogen project

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The Moroccan government, alongside Total Energies H2 and partners, has signed a Preliminary Contract for Land Reservation for the ‘Chbika’ project. Total Energies H2—a joint venture between TotalEnergies and EREN Group—and partners, including CIP’s Energy Transition Fund and A.P. Møller Capital’s Emerging Markets Infrastructure Fund, will now proceed with pre-FEED studies. The ‘Chbika’ project aims to develop 1 GW of onshore solar and wind capacity to produce green hydrogen through seawater electrolysis, transforming it into…

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Avangrid and Invenergy secure Gulf of Maine offshore wind leases

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Avangrid Renewables and Invenergy NE Offshore Wind have won two lease areas each in the Gulf of Maine through a US government-led offshore wind lease sale conducted by the Bureau of Ocean Energy Management (BOEM).  This sale marks the sixth offshore wind lease under the Biden-Harris administration and the first for commercial floating offshore wind on the Atlantic coast. Avangrid acquired leases OCS-564 (98,565 acres) for $4.9 million and OCS-568 (124,897 acres) for $6.2 million….

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ICG and ST International acquire stake in South Korea’s Revent Energy

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UK-based asset manager Intermediate Capital Group (ICG) has partnered with South Korean energy firm ST International (STI) to acquire a 50% stake in Revent Energy, with STI retaining the other half.  This collaboration aims to strengthen Revent Energy’s onshore wind development strategy in South Korea, targeting 500 MW of installed capacity by 2029 through project acquisition, construction, ownership, and operation. Revent Energy currently holds stakes in two wind farms, Yeongyang Wind Power and Youngduk Wind…

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Swedish court approves Hydro Energi’s PPA settlement with Markbygden

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Norwegian renewable company Hydro Energi has settled its long-term power purchase agreement (PPA) with Swedish wind farm operator Markbygden Ett.  Originally signed in 2017, the PPA was intended to supply 1.65 TWh annually from 2021 to 2039, backing the financing of Markbygden’s onshore wind park in northern Sweden, which had a projected output of 2.2 TWh per year. However, due to financial difficulties, Markbygden Ett halted power deliveries to Hydro Energi on February 6, 2023,…

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Mirion wins contracts for UK’s Sizewell C nuclear project

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Mirion Technologies has been awarded two contracts to provide advanced radiation safety solutions for the UK’s Sizewell C nuclear power station, a 3.2 GW project designed to supply electricity to six million homes.  The first contract, granted in October 2024, involves the provision of electrical penetration systems (EPS) for the reactor, ensuring secure cable passage through containment walls while maintaining reliable electrical circuits and reactor safety. Sizewell C, based on EDF’s European pressurised reactor (EPR)…

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US DOE allocates $474m for grid resilience for fiscal year 2024

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The US Department of Energy (DOE) has allocated $474 million in grid resilience funding for fiscal year 2024 (FY24) to enhance the power grid’s resilience across 49 states, five territories, 254 tribal nations, and the District of Columbia.  Supported by the Bipartisan Infrastructure Law, the funding aims to strengthen power grids against extreme weather events intensified by climate change, as part of the Biden-Harris Administration’s commitment to reliable, clean, and affordable electricity. This funding, administered…