First green energy ISA passes £1m milestone

An individual savings account (ISA) that invests cash in renewable energy projects has received £1 million of deposits during its first week in operation.

Peer-to-peer lender Abundance Investment said the £1m figure was split between a renewables bond from Triodos Bank (£700,000) and a second solar bond from Swindon Borough Council.

Swindon raised £1.8m with its previous solar bond to fund its 5MW solar farm at Chapel Farm in Blunsdon.

> Find out more about the ISA

Aviva snaps up four wind farms

Four wind farms in England have been snapped up by the investment arm of insurance giant Aviva.

Aviva Investors has bought the 18MW Den Brook wind farm in Devon, the 15MW Jack’s Lane wind farm in Norfolk and the 10MW Woolley Hill wind farm in Cambridgeshire.

The fourth farm, with a capacity of 17.5MW, is under construction at Turncole in Essex.

> Learn more about Aviva Investors

New energy innovation board named

Sir Mark Walport, the UK Government’s Chief Scientific Advisor, has been named as Chair of the new Energy Innovation Board.

Senior civil servants from several UK Government departments will attend the board’s meetings, along with representatives from the devolved administrations.

The board replaces the Low Carbon Innovation Coordination Group.

> Read the UK Government's announcement

Liverpool City Council sets up energy firm

Robin Hood Energy, the company setup by Nottingham City Council to offer cheap electricity and gas to residents, has won a contract to supply similar services in Liverpool.

Liverpool City Council chose the firm to run its Liverpool Leccy brand, which aims to replace prepayment meters with smart meters.

Councillor Steve Munby said: “We want to give people the opportunity to have their gas and electricity supplied by a company where profit is not the main consideration and to provide an alternative to the ‘big six’ energy companies.”

> See Liverpool City Council's statement

EU backs Cornish wave project

Australian power developer Carnegie Wave Energy has been awarded £9.6 million from the European Regional Development Fund.

The cash will be used to support the first phase of its planned 15MW wave energy project at Wave Hub in Cornwall using its Ceto device.

Michael Ottaviano, Carnegie’s Managing Director, said: “Being able to deploy our commercial generation Ceto units at the purpose built, grid connected Wave Hub test site, that also offers project expansion capability, significantly de-risks and accelerates our path to commercialisation.”

> View Carnegie's announcement