Scotland funds £3.4 million for tidal energy project

26/08/2019 10:03 Renewable


The Scottish government is supporting the construction of what is expected to be the world’s most powerful floating tidal turbine with funding of £3.4 million, the government announced on Monday.

The funding will be used to build the two-megawatts O2 floating tidal energy turbine project, capable of powering more than 1,700 homes per year.


Project owner Orbital Marine Power believes that, when launched in 2020, it will be the most powerful tidal generating platform in the world.


Funding is part of the government's larger £10 million Saltire Tidal Energy Challenge Fund, directed at tidal energy projects.


Orbital Marine Power is the first company to receive support from the government's funding package.


Exxon Mobil considers sale of Malaysian offshore assets for up to $3 bln

09/10/2019 14:54:00

U.S. energy giant Exxon Mobil Corp is considering a sale of its Malaysian upstream offshore assets for up to $3 billion, Bloomberg reported on Wednesday.


Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.