25 May 2021
Plans to build 10GW worth of offshore wind in the North Atlantic and connect it with the United Kingdom by undersea cables have been unveiled, starting off with a 2GW offshore wind farm to be built off the coast of Iceland to begin operations in 2025.
Hecate Independent Power (HIP), the company behind the lofty plan, is a part of Hecate Holdings, a leading US-based renewable developer founded in 2012 which has developed a pipeline of 1.4GW renewable PPAs and boasts an “active” renewable development pipeline of over 12GW.
HIP is chaired by Sir Tony Baldry, a former British energy minister under prime ministers Margaret Thatcher and John Major. HIP has already lodged four connection applications with the UK’s national grid operator for an initial 4GW of grid connections to the UK’s 400kV electricity transmission system across four connection sites.
G7 nations agree 2030s net-zero targets for power sector edie.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from edie.net Daily Mail and Mail on Sunday newspapers.
UK National Grid sees underlying earnings drop
May 20, 2021 9:10:am
Summary
by: William Powell
Posted in:
UK National Grid sees underlying earnings drop
UK and North American energy transmission company National Grid reported a boost in statutory profit but a drop in underlying profit May 20. Statutory operating profit was up 4% at £2.9 ($4.1)bn and EBIT was £2.1bn (up 19%). Underlying operating profit was down 5% at £3.3bn and underlying EBIT down 3% at £2.4bn.
CEO John Pettigrew said despite COVID-19 the company had made over £5bn of capital investment and still achieved a solid underlying financial performance. This is testament to the strength and resilience of our business model and the unwavering commitment of our employees, he said.
Namibia Press Agency nampa.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nampa.org Daily Mail and Mail on Sunday newspapers.