Siemens and AES join forces on storage

Siemens and the AES Corporation have formed a new global energy storage technology and services company under the name Fluence.

Siemens and AES will have joint control of the company with each holding a 50 per cent stake. Fluence’s global headquarters will be located in the Washington DC with additional offices located in Erlangen, Germany and other cities worldwide.

The transaction is expected to close in the fourth quarter of calendar year 2017, subject to regulatory and other approvals.

> Read the announcement here

 

ScottishPower opens new headquarters

ScottishPower said it is investing £4m every day until 2020 as Scottish First Minister Nicola Sturgeon opened its new headquarters in Glasgow.

The company announced that daily investment has risen from £3.3m per day during 2013-15, up to £4m per day during the 2016-2020 investment period.

The Spanish-owned company said the investment programme will total around £8 billion until 2020 and will be focused on ‘future-proofing’ the UK’s electricity system.

>Read more here

 

EDF in Scottish wind farms acquisition

EDF Energy Renewables has bought 11 wind farm sites from Partnerships for Renewables, a development and asset management company. The sites in Scotland have a potential capacity of 600 MW.

Three sites with around 100MW of capacity already have planning consent, one site is in the planning system already and seven other sites are in development.

The majority of the projects are on land managed by Forest Enterprise Scotland.

> Read the announcement here

 

Reeves appointed chair of BEIS committee

Labour MP Rachel Reeves has been elected as the new chair of the Business, Energy and Industrial Strategy Select Committee.

Reeves, MP for Leeds West and a former economist at the Bank of England, was voted in ahead of several Labour colleagues.

Reeves said of the committee’s role:

"From ensuring we have the best possible industrial strategy for all of the United Kingdom, to securing a sustainable and cost-effective energy policy, boosting the UK's productivity, ensuring small businesses get the support they need, and looking at the future of work in an environment of new technology and ever growing competition - the BEIS Department is at the heart of many of the crucial issues facing the UK," she said.

> Find out more about the committee here

 

Welsh Water boosts onsite renewables plans

Welsh Water has signed a £250 million loan facility with the European Investment Bank to help plans to further develop renewable energy generation capacity at its sites.

The company already generates 20% of its own energy needs through wind, hydro, solar and advance anaerobic digestion – with the aim to increase this to 30% by 2019.

> Read full announcement