Weak demand sends electrical manufacturers’ confidence to pandemic-era low
Business confidence among UK electrical manufacturers fell from +12 to -28 in the first quarter, its lowest level since 2020. More than half of respondents identified demand as the main constraint on output, while average… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Fidra Energy reaches financial close for West Burton C battery project
Fidra Energy has secured a £231 million loan package for its 500 MW / 1.1 GWh West Burton C battery project. A ten-year Drax tolling contract and a 15-year capacity market award provide contracted revenue alongside merchant market exposure. The financing demonstrates growing lender appetite for batteries, although the approximately two-hour asset cannot address multi-day […]
British Steel nationalisation transfers the transition problem to the taxpayer
British Steel has entered public ownership, securing Scunthorpe’s blast furnaces and the UK’s remaining primary steel capability. Nationalisation averts an immediate industrial closure, but leaves the state responsible for operating losses and a costly transition… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Hormuz crisis must improve ‘within weeks’ for the sake of global energy security – IEA
IEA executive director Fatih Birol has warned that global energy security will deteriorate unless flows through the Strait of Hormuz recover within weeks. A record 400mn barrel emergency release has moderated the shock but cannot replace a shipping route that carried around 20 million barrels/day. The crisis strengthens the strategic case for electrification, efficiency and […]
Scotland approves Caledonia wind farms, but the commercial test comes next
Scotland has consented Ocean Winds’ 2 GW Caledonia North and South projects, comprising up to 140 turbines in the Moray Firth. The developer has committed to £1.7 billion of Scottish expenditure, subject to the projects reaching construction. Environmental conditions, a future Contract for Difference and high Scottish transmission charges remain between consent and final investment. […]
Clean Power Hydrogen raises £7.3 million after flagship test failure
Clean Power Hydrogen has raised approximately £7.3 million at 1.5p a share to fund its shift from electrolyser manufacturing to licensing. If all tranches complete, the fundraising shares will represent about 49.3% of the enlarged… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]