Brazil cancels 25 green projects

Brazil has cancelled 25 renewable projects after developers requested to return construction licences. In total, 16 wind farms and nine solar parks were scrapped as financially struggling firms were allowed to step back from their plans by paying a combined total of $33.4 million (£26m) in fees. The move marks the country’s first ‘cancellation round’ for […]

Project seeks partners to cut the cost of nuclear energy

The Energy Technologies Institute (ETI) is looking for partners on a project to better understand the cost of nuclear energy. The Nuclear Cost Drivers Project aims to analyse historic, contemporary and future nuclear projects to identify how different areas of nuclear power plant design, construction and operation could deliver potential cost reductions. The ETI says […]

Government ‘must outline energy investment framework’

The UK Government needs to give businesses certainty by outlining an energy investment framework as soon as possible. That’s the view of Carolyn Fairbairn, Director-General at business group CBI, who says the government must create a pro-market, pro-enterprise partnership to unlock a “golden age of infrastructure development” across the country. Speaking at the National Infrastructure Forum, […]

Project financing in the energy industry remains robust

New project financing in the energy industry remains robust. That’s according to a new report from S&P Global Ratings, which suggests in the last two years, continental Europe has attracted strong renewable investment, including offshore and onshore wind portfolios and a range of transportation deals. In the UK, the government has continued to encourage renewable energy projects with the creation […]

Energy efficiency projects rise with UK growth

An increase in energy efficiency projects commissioned in the last quarter of 2016 reflects the UK’s strengthening economic growth. That’s according to a new report from EEVS Insight and Bloomberg New Energy Finance, whose survey of 68 UK-based energy efficiency professionals reveals 80% of them commissioned energy efficiency projects during that period compared to just […]

Decommissioning spending to rise 540% by 2040

Spending on decommissioning offshore oil and gas projects is expected to see a 540% increase by 2040. Annual costs are forecast to rise from $2.4 billion (£1.92bn) in 2015 to $13 billion per year (£10.41bn) during the same period, according to a new report from IHS Markit. More than 600 projects are expected to be removed within the next five years. A further 2,000 will […]

UK’s first green ISA hits the market

The UK’s first green energy ISA has officially been launched. Abundance Investment’s Innovative Finance ISA (IFISA) will allow ordinary people to invest their money directly in renewable energy projects across the country. This first project offered as part of the ISA is a 5MW solar farm in Swindon, owned by Swindon Borough Council. It will cost £5.4 million, with £3 million coming from the […]

£96m project for a greener Morocco

A £96m project will promote cleaner and more efficient energy in Morocco. The Clean and Efficient Energy Project will be co-financed by a US$125 million (£80m) World Bank loan and a US$23.95 million (£16m) loan from a global initiative, the Clean Technology Fund. It will support Morocco’s state-owned electricity and water company Office National de l’Electricité […]