Ofgem appoints Green Star to take over Future Energy customers

Green Star has been appointed to take over the customers of collapsed power supplier Future Energy.

Ofgem’s decision to choose Green Star came after it received competitive tenders.

Rob Salter-Church, Ofgem’s Interim Senior Partner for Consumers and Competition, said: “Future Energy customers will continue paying the same price for their energy as they were before and their credit balances will be honoured.”

> Read Ofgem's announcement

 

Heat network industry unveils recommendations

Creating a regulatory framework for heat network developers would boost the market, reduce risks and decrease the cost of capital investment, according to the Heat Network Task Force.

In its report, the industry group called for a regulatory framework that would involve heat network developers committing to minimum standards for pricing and customer services.

Tim Rotheray, Director of the Association for Decentralised Energy, which led the task force, said: “Securing investment and protecting customers are two sides of the same coin.”

> Download the report

 

NextEnergy in solar deals

NextEnergy Solar Fund (NESF), the investment company listed on the London stock market, is buying four solar farms for £30.9 million.

The four sites – North Norfolk, Axe View in Devon, Low Bentham in Lancashire and Henley in Shropshire – have a combined peak capacity of 25.9MW.

The company said: “NESF continues to pursue further transactions from its pipeline of acquisition opportunities and expects to announce further investments in due course.”

> See NESF's statement

 

Atlantis launches renewable bond

Renewable energy developer Atlantis Resources has launched a second bond on the Abundance Investment peer-to-peer platform to raise up to £5 million.

The five-year bond is offering an interest rate of 8% and will be used to fund “the best opportunities in the Atlantis project pipeline, including the recently-announced Uskmouth power station conversion and the Wyre tidal gateway project, to repay some more expensive debt, and to provide general working capital for the group”.

> View Atlantis's announcement

 

Japanese firm invests in smart grid business

Smart grid developer Moxia has received a £5 million investment from Japanese company Itochu.

Under the deal, Itochu will also use Moxia’s Gridshare software in Japan to manage home energy storage systems.

Itochu also supplies chemicals for batteries and will promote Moxia’s products to its customers.

> Read Moxia's statement