Banks Renewables in funding deal

National Australia Bank and Santander are lending Banks Renewables £82 million to refinance seven of its wind farms.

The cash will allow the Durham-based property and energy group to fund further projects.

Banks currently has 224MW of capacity under construction or in operation, and a further 190MW in development.

> Read Banks' announcement

 

Construction on East Anglia ONE underway

ScottishPower has begun building a support hub in Lowestoft for its East Anglia One offshore wind farm.

The operations and maintenance building at Associated British Ports’ Hamilton Dock is part of a £25 million investment.

ScottishPower has also awarded Lowestoft-based 3Sun Group a £2.5m contract to provide personnel, training, waste management and equipment.

> See ScottishPower's statement

 

Smart energy project on Isle of Scilly

Work is underway on a £10.8 million smart energy project that aims to support the power grid on the Isles of Scilly.

Solar power, batteries, smart heating technologies and electric vehicles will all feature as part of the scheme, which battery firm Moixa says will “alleviate fuel poverty and reduce toxic carbon emissions”.

Nearly 44MW of batteries will be installed on the islands, which aim to generate 40% of their power from renewables by 2025.

> View Moixa's announcement

 

Business energy supplier ceases trading

National Gas & Power, which supplied energy to about 80 non-domestic customers, has ceased trading.

Energy regulator Ofgem has named Hudson Energy as the “supplier of last resort” for these customers to carry on supplying them with energy.

Hudson Energy has begun contacting customers affected by the move.

> See Ofgem's statement

 

Greencoat increases portfolio

Wind power investment group Greencoat UK saw its generating assets increase by 13% to 785MW in the first six months of 2018.

A total of £277m was invested in the period to acquire the 47.5MW Brockaghboy wind farm in Northern Ireland and increase its shareholding in the 522MW Clyde wind complex in Scotland.

> Read more here