Subscribe | Register | Log in | Advertise | Digital Issue   |   Search
  • CCUS
  • Cap & Trade Markets
  • Voluntary Markets & Offsets
  • Corporate & Finance
  • Net Zero Strategies
Search
Related Articles
Eni claims CCS regulation breakthrough with UK deal
Head of terms agreement for HyNet North West cluster paves way for world’s first asset-based regulated CCS business
UK licence awards set stage for CO₂ storage push
Shell, Eni and independent operator Enquest dominate list of new licences as UK ramps up offshore storage push
Wintershall breaks into UK CCS market
German independent oil and gas firm secures licence to develop storage in Camelot area of North Sea in breakthrough for its growing carbon management business
UK CCS strategy moves forward
But concerns over storage and the government’s long-term plans still need to be ad-dressed, say industry bodies
Eni and Stanlow study CO₂ import potential
Open access terminal in northwest England would receive CO₂ shipped in from multiple locations
Engineering the world’s largest post-combustion CCS plant
As part of the UK’s Humber Zero initiative, CCS plants will be retrofitted to a combined-cycle natural gas power plant adjacent to the Humber oil refinery
Developers eye rapid UK offshore CO₂ storage growth
Companies have near-term ambitions to bring online 37 storage sites by 2035, according to industry survey by Crown Estates
UK backs engineered carbon removal with ETS
Government set to include Dac and Beccs in national emissions trading scheme as part of package of reforms
UK’s Drax pivots Beccs expansion to US
Company plans £4bn investment in new plants in southern US, evaluates nine other sites and opens Houston Beccs headquarters
UK awards 20 offshore CO₂ storage licences
First licence round sees 12 developers secure rights to appraise storage sites with potential to hold 10pc of UK’s annual emissions
The price of offshore wind has fallen by 70pc since 2015
UK Subsidies Wind Solar Tidal
Polly Martin
7 July 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

UK awards subsidies to 11GW of renewables

Offshore wind beats onshore wind and solar projects as the cheapest source of power awarded

The UK government has awarded 93 renewable energy projects totalling 11GW in capacity with contracts for difference (CfDs). CfDs—the government's main mechanism for supporting low-carbon electricity generation—provide generators with guaranteed returns by paying the difference between market prices and a pre-agreed ‘strike’ price. “Thanks to today’s record renewable energy auction, we have secured almost 11GW of clean, homegrown electricity—which would provide as much power as around six gas-fired power stations,” says UK business and energy minister Kwasi Kwarteng, noting the projects all have planning permission already. Offshore costs fall Almost 7GW of offshore wind was awarded CfDs at a

Also in this section
China signals ETS expansion
29 November 2023
Preparations underway for inclusion of cement, aluminium and steel producers in world’s largest compliance market by 2030
EU sets sights on pan-European CCS network
28 November 2023
European Commission earmarks cross-border projects for funding and fast-tracks carbon management strategy as pressure grows to kickstart CCS sector
The need for ambition and more action on the energy transition in tougher times
Outlook 2024
27 November 2023
Progress in decarbonisation but significant challenges lie ahead
Yara and Northern Lights in major cross-border carbon deal
27 November 2023
Shipment of CO₂ from Dutch ammonia plant to Norwegian storage site will require bilateral agreement at government level

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
;

Search