’s strategy in increasing streams of recurring income has kept it resilient during the pandemic.
Moving ahead, the group will continue to expand its green energy segments through acquisitions of solar farms with good feed-in tariff rates and build on its telecoms business.
This will contribute different streams of revenue from a multi-business portfolio, group managing director Sam Ooi Chin Khoon (pic) said in OCK’s newly released 2020 Annual Report.
He added that the group plans to participate in large scale tenders in the future.
OCK is involved in telecoms network services and products, green energy and power solutions and mechanical and engineering services.
The co-located battery at JLEN s Yorkshire Hydropower Limited asset in North Yorkshire. Image: JLEN.
JLEN is to fund battery storage and biogas investments with the proceeds of a new oversubscribed £56.9 million placement.
This funding is also to pay down amounts outstanding under the company’s revolving credit facility in order to create more funding headroom to meet existing commitments.
As it stands, JLEN has made four investments into battery storage to date, with two of these being co-located batteries it owns as part of its run-of-river hydro portfolio. The third, the 50MW West Gourdie project, it acquired in March 2021, with plans to invest up to £12.2 million over the following 12-15 months.
Gore Street s Drumkee battery, which has been operational since March. Image: Gore Street Energy Storage Fund.
Gore Street Energy Storage Fund has acquired an 80MW energy storage project from RES, having also entered into exclusivity with the renewable energy company for over 300MW of assets.
The 80MW project – located in Milton Keynes – is construction ready, with all land rights, grid connections and planning consents having already been secured.
Gore Street is expecting the total capex of the project to be c.£30 million spread over the next 12 – 15 months, with the asset scheduled to become operational in Q1 2023, although the company is exploring timeline optimisation to potentially bring this forward.
Published May 13, 2021 Catherine Morehouse, Utility Dive
The following is a contributed article by Jeremy Fisher, Senior Advisor for Strategic Research and Development, Environmental Law Program, The Sierra Club
Rural electric cooperatives hold a unique place in the U.S. electric sector. Authorized under the Rural Electrification Act (REA) of 1936, the formation of non-profit electric cooperatives is a lasting legacy of the last New Deal. Unfortunately, federal support of these cooperatives has not kept up with the times, and today rural utilities hold a disproportionate amount of uneconomic coal in the United States.
With that in mind, we ve put a proposal on the table to use federal dollars to ease the transition from fossil fuels to clean energy at cooperatives and coal communities by injecting $12.5 billion of clean energy dollars into rural economies, with an additional $2.5 billion for plant and coal mine communitie