Centrica to abandon plans for a 2 billion pound wind farm

04/11/2013 11:24 Renewable


Centrica has announced it intends to abandon plans to build a 2 billion pound offshore wind farm as it said that subsidies offered by the government are too low. The UK based energy company added also that it will not build the Race Bank wind farm unless the government enhances the projected subsidies.

Centrica has considered investing up to 200 million pounds of the Race Bank project off the Norfolk coast, with the remaining financial support offered by its partners. The company has started talks with the government about terms of a subsidy deal in the first months of 2013. In the meanwhile, ministers will not validate final subsidy levels until next month, believing that Centrica is demanding too high returns for the Race Bank project. This will be the third big project that the energy company withdrawal. In February, Centrica said it will not contribute in the construction of up to four new European Pressurized Nuclear Reactors in the UK, while in September Centrica wrote off two gas storage projects, after the government declined to help building stockpiling sites.

20 Fossil Fuel Companies Generate One Third Of All Global Emissions

10/10/2019 16:26:00

New data compiled by the United States-based Climate Accountability Institute and revealed by the Guardian confirms what many already know: at the core of the climate crisis is the fossil fuel industry. The crucial finding from the analysis is that 20 oil, gas and coal companies can be directly linked to over one third of all energy industry greenhouse gases in modern history. Despite knowing the destruction and dangers their activities pose to our planet and people, fossil fuel companies have been driving climate change and hold the key to avoiding impending disaster. What this points to is the urgent need for divestment, in spite of skepticism amongst some leaders.


BP, Shell among bidders in $800 million Brazilian oil auction

10/10/2019 16:18:00

BP Plc, Chevron Corp and Royal Dutch Shell Plc are among the companies that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.


Poland plans to triple solar energy capacity this year

10/10/2019 13:03:00

Poland, which generates most of its electricity from coal, is planning to triple its solar energy capacity this year, Prime Minister Mateusz Morawiecki told Polish radio on Wednesday.