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Renewables Investment
SSE Investment Cuts Threaten UK’s 2030 Clean Energy Goals
- SSE has announced a £1.5 billion funding reduction for new renewable energy projects, and £1.5 billion cut to energy transmission projects.
- The company cited planning delays in its Berwick Bank offshore wind farm and Coire Glas pumped hydro storage projects, alongside policy uncertainty and changing economic conditions, as key reasons for the cut.
- While investment cuts may derail the SSE’s target of generating 50TWh of renewable energy annually, it also raises concerns about the UK’s ability to achieve 95% fossil fuel-free electricity by 2030.
Source: Blow to UK’s 2030 clean energy targets as SSE cuts spending on renewables
Field Secures £42M Loan for 125MW UK Battery Storage Projects
- Energy Storage developer, Field, has secured a £42 million loan to finance three battery energy storage systems (BESS) in the UK, totaling 125MW in capacity.
- The projects are located in Whitebirk (25MW),expected to begin operation later this year, in Holmston (50MW), and Drum Farm (50MW), with kick off dates in 2026 and 2027, respectively.
- Field’s initiative aim to address intermittency issues, enhance grid stability and support the UK’s renewable energy infrastructure and integration.
Source: Field nets £42m loan for 125MW UK BESS Projects
Penspen Secures Major Contract in HyNet CO2 Pipeline Development
- Penspen secured a multi-million-pound contract to provide detailed engineering for the HyNet CO₂ pipeline, which will transport captured emissions from Stanlow to the Point of Ayr CO₂ storage site under Liverpool Bay.
- The pipeline will span over 40 km and utilize both new and repurposed infrastructure to move CO₂ to depleted gas fields beneath the Irish Sea for long-term storage.
- The project is expected to cut up to 10 million tonnes of CO₂ annually by the 2030s—contributing significantly to UK net-zero goals.
Energy Industry Updates
Reform UK’s Opposition to Green Energy Projects in Lincolnshire
- Reform UK’s stance against green energy initiatives in Lincolnshire threatens nearly £1 billion in investment and over 12,200 local jobs, according to the Energy and Climate Intelligence Unit.
- The party’s deputy leader, Richard Tice, has pledged to obstruct renewable infrastructure such as solar farms and battery storage systems, potentially impacting the local economy.
- Critics argue that this opposition jeopardizes economic growth and environmental security, while the UK government indicates readiness to intervene in support of green energy investments in affected areas.
Source: Reform’s green energy assault in Lincolnshire ‘puts 12,200 jobs at risk’ | Reform UK | The Guardian
Octopus Launches Astris Fund to Expand Global Clean Energy Investments
- Octopus Energy has introduced the Astris fund, targeting institutional and private wealth investors to support renewable energy projects across 15 countries.
- Investments options provided by Astris comprise solar, wind, and energy storage assets, aligning with Octopus’s strategy to accelerate the global transition to net-zero. This initiative complements Octopus’s existing £5 billion renewable energy portfolio.
- The launch of Astris reflects Octopus’s commitment to expanding its international clean energy footprint by simplifying access for pension schemes and private investors seeking to back clean energy initiatives and mobilize capital towards sustainable infrastructure projects.
Source: Octopus launches pioneering new clean energy fund
Plans for ‘UK’s first’ synthetic fuel energy park
- Rivan Industries plans to build the UK’s first synthetic fuel energy park near Swindon, powered by 15 MW of solar energy and 10 containerized fuel synthesis units.
- The facility will combine direct air capture of CO₂ with hydrogen from electrolysis to create renewable methane for the UK gas grid.
- The project targets over 10% Biodiversity Net Gain and will support local development through a Community Benefit Fund.
Ørsted Halts Hornsea 4 Offshore Wind Farm
- Danish energy firm Ørsted has indefinitely paused its Hornsea 4 offshore wind project, which was planned to supply power to over a million UK homes.
- The 2.4 GW project faced rising supply chain costs and higher interest rates, challenging the UK’s goal to expand offshore wind capacity to 50 GW by 2030.
- The UK government expressed commitment to collaborating with Ørsted to potentially revive the project and emphasized its dedication to achieving clean power targets.
Source: Orsted halts major North Sea wind farm project in blow to Miliband
Grid Investment
UK’s National Wealth Fund Loans £600 Million for Grid Upgrades
- Britain’s National Wealth Fund has approved a £600 million loan to Iberdrola’s subsidiary, ScottishPower, to support upgrades to the UK’s power grid.
- The investment aims to accelerate progress toward Britain’s goal of largely decarbonizing its power sector by 2030.
- The funding will expedite seven key transmission grid upgrade projects, including the Eastern Green Link projects, enhancing the delivery of renewable energy from Scotland to England
Source: Britain’s National Wealth Fund to lend Iberdrola $800 mln for UK power grid upgrades | Reuters
Energy Transition
All new-build homes in England to be solar fitted by 2027
- Almost all new homes in England will be fitted with solar panels during construction within two years.
- The policy is estimated to add between £3,000 and £4,000 to building a home but homeowners would save more than £1,000 on their annual energy bills.
- Ministers are also preparing to offer government-funded loans and grants for the installation of solar panels on existing homes.
Source: https://www.theguardian.com/environment/2025/may/01/solar-panels-fitted-all-new-build-homes-england-by-2027 Guardian
Grid and supply chain gaps delays Europe’s energy transition
- Burdened by grid saturation, permitting delays, and industrial bottlenecks, Europe’s renewable energy sector faces a potential slowdown
- More than half of the 230 new energy projects added in 2024 are renewable, but the continent’s 2030 climate targets are coming under pressure as infrastructure struggles to keep pace.
- Shortages in heavy-lift cranes and fit-for-purpose port facilities were particularly acute, with the delay of the UK’s Sofia Offshore Wind Farm to 2026 as a prime example.
Source: https://www.agcc.co.uk/news-article/europes-energy-transition-faces-potential-delays-as-grid-and-supply-chain-gaps-persist-eic-report | AGCC
The choppy waters between North Sea oil and green energy revolution
- North Sea oil output has dropped 72% since 1999, increasing the imperative for the UK to accelerate its transition towards renewables.
- However, the UK 78% tax rate and drilling bans are prompting investors to pull back from the North Sea, slowing the green transition.
- Various companies are significantly affected, with Harbour Energy cutting 250 jobs in Aberdeen and redirecting investment to Egypt and Argentina due to UK tax pressures.
Source: https://www.bbc.co.uk/news/articles/cg414w9xx91o
Energyz Black is shaping a future where the energy sector reflects the richness of our global community through empowerment, collaboration, and a commitment for black professionals in the Industry
Our Market roundup is designed to help professionals to stay informed with the latest developments and reports on key areas of energy, including energy security, strategy, efficiency, infrastructure, as well as industry sectors like nuclear, renewables, and oil, coal and gas.
This roundup was compiled by the Energyz Black – Market Insight team made up of Amanda Balogun, Chiemeka Okeke, Iseoluwa Adejumo Amani Veronique Kouassi Tariro Munemo, Seun Alonge and team