Greencoat ups Clyde wind farm stake

Greencoat UK Wind, the renewables investment firm listed on the London stock market, has increased its stake in the three Clyde wind farms south of Glasgow.

The company – alongside investment partner GLIL, an infrastructure vehicle owned by local council pension funds – has bought an additional 5% stake for £67.8 million.

Greencoat and GLIL have also signed a deal giving them an option over a further 14.9% stake for £202.2m.

> Read Greencoat's announcement


UK’s largest battery commissioned

Hazel Capital has commissioned what it believes is the largest stand-alone battery storage facility in the UK.

The 15MW Lockleaze project near Bristol holds a contract to supply frequency response services to National Grid.

Across all its projects, Hazel Capital wants to have 100MW of capacity by the end of the year.

> View Hazel Capital's announcement


DNOs win £5.5m funding

Ofgem has awarded £5.5 million to distribution network operators (DNOs) after they demonstrated the “exceptional performance” of their Low

Carbon Network Fund (LCNF) projects.

Scottish & Southern Electricity Networks has received £2m for a collection of ten projects, including a scheme on Shetland.

Electricity North West and Western Power Distribution will each receive £1.75m for their projects.

> Find out more about the fund


JP Morgan commits to 100% renewables

Investment bank JP Morgan Chase has pledged to source all of its electricity from renewable sources by 2020.

The New York bank has also unveiled a $200 billion fund to invest in clean energy projects.

It said the funding was the largest commitment made by a global financial institution.

> Read JP Morgan's announcement


Scotland invests further £1.5m in offshore wind project

The Scottish Government is investing £1.5 million into the Carbon Trust’s Offshore Wind Accelerator (OWA).

Ministers had previously invested £1.5m when the programme began in 2016.

The OWA project consists of nine of the largest offshore wind developers in Europe: DONG Energy; EnBW; E.ON; Iberdrola: Innogy; SSE; Statkraft; Statoil; and Vattenfall.

> See the Scottish Government's statement