Tidal

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Octopus Energy Group has added £3.4 billion worth of renewable energy projects to its portfolio with the acquisition of sister company Octopus Renewables. From June the large retailer will manage Octopus Renewables’ European portfolio of more than 300 green assets under new business arm Octopus Energy Generation. Chris Hulatt, co-founder of Octopus Group, the parent company of both businesses, said he hoped the move would unlock a “multitude of new investment opportunities”.
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Crown Estate Scotland has raised the maximum option fees for its ScotWind offshore wind leasing round by ten-fold to £100,000/km². The decision follows a review of the arrangements that was launched after the winners in the Crown Estate’s fourth offshore wind leasing round for England and Wales agreed to pay option fees initially worth £879 million per year for almost 8GW of capacity its first competitive bidding process.
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Latest in Tidal

The plans to be announced by the Liberal Democrats shadow chancellor Sir Ed Davey include a new £10 billion Renewable Power Fund, which would be designed to leverage in a further £100 billion or more of extra private climate investment.
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The renewable energy market is evolving, and investors and asset managers must adapt, says Alex Brierley, co-head of Octopus Renewables.
Opinion
Two sets of newly published research have reiterated public support to move forward the net-zero target as well as their faith in renewables. But, the details of these surveys show a more nuanced picture and shed more light on attitudes towards specific measures of decarbonisation, as well as willingness for individuals to make changes.
News
The Liberal Democrats want to spend £15 billion over the parliament to upgrade the energy efficiency of 26 million homes. The party has also set out its stance on developing tidal power.
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A collaborative project between groups in the UK and France will see tidal stream turbines installed across the Channel, could "herald a point of maturity for the sector". Work is expected to be completed by 2023 at the five turbine sites with the option to increase capacity to 8MW and the ultimate potential for several GW across the Channel.
News
A report by Carbon Brief found that electricity generated by renewable sources overtook fossil fuels in Q3 2019, the first time since the Industrial Revolution. Increased wind capacity was largely to thank for the increase.
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Simec Atlantis Energy has revealed plans to create a new data centre in Scotland powered by its MeyGen tidal turbine project in the Pentland Firth. The company said the project could boost renewable deployment in the local area by alleviating constraints on the power grid and providing a new source of revenue following the withdrawal of subsidies.
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Simec Atlantis Energy has launched a £7 million crowdfunding round on the peer-to-peer finance platform Abundance Investment. The proceeds will help fund the conversion of the former coal-fired power station at Uskmouth in South Wales to run on waste-derived fuel.
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