Megawatt meaning

NSI Act 2021 On 28 August 2024, the Cabinet Office issued a final order granting conditional approval to KXP Immigration Limited’s acquisition of control of an 80 megawatt battery energy storage system, via the award of an Ofgem electricity generation licence—see further, Final Order. NOTE—For additional detail and background on the NSI Act and its journey through the parliamentary process, see further, National Security and Investment Act—progress tracker Subsidy control The Subsidy Advice Unit released its final report offering advice to Greater Manchester Combined Authority (GMCA) on its proposed GMCA Brownfield Housing Scheme—see further, report. NOTE—For all decisions referred to the Subsidy Advice Unit under the Subsidy Control Act 2022, see further, UK subsidy control—cases tracker Upcoming dates For dates of forthcoming UK competition developments, see further, UK Competition calendar...

Clifford Chance LLP, together with Irish practice Arthur Cox LLP, served as legal advisers to Partners Group on this transaction. Equitix received legal advice from Linklaters LLP and Ireland’s McCann Fitzgerald LLP. Greenlink is a subsea power interconnector linking Great Britain with Ireland. The 504 megawatt link, to supply roughly 380,000 households, extends for 190 kilometres in length beneath the Irish Sea...

Octopus Renewables Infrastructure Trust plc stated that the 32.6 megawatt Irishtown site will be the sixth asset the company holds within the Ballymacarney solar farm. The firm noted it is acquiring the site through a forward purchase agreement. This structure permits completion of the acquisition in full once the project has then successfully finished its operational testing...

What is the Renewables Obligation scheme? The renewables obligation (RO) was designed to stimulate investment in renewable generation. It came into force in Great Britain in 2002, and in Northern Ireland in 2005. Under the scheme, electricity suppliers serving customers had to procure an ever-rising share of their wholesale power from renewable sources. Subject to certain exceptions, RO accreditation ended on 31 March 2015 for new solar PV and onshore wind projects, and from 1 April 2017 for all other new types of electricity generation. For more on this, see: Closure of the RO to new generation and grace periods below. The Secretary of State (SoS) for Energy, Security and Net Zero, who leads the Department for Energy Security and Net Zero (DESNZ), determines the obligation in line with the Renewables Obligation Order 2015 (RO Order 2015) SI 2015/1974, arts 7–13B. These determinations set a number of megawatt hours (MWh) of renewable output that suppliers must buy for each MWh of electricity, from any source, delivered to customers...

Author: James Todd, with appreciation to David Cruickshank and Jamie Dunne Introduction and scope The purpose of this Practice Note is to: introduce the rise of ‘gas peaking’ projects that are becoming increasingly widespread across Great Britain’s (GB) electricity market, and set out the principal subsidy/support arrangements that make such projects attractive for developers and, where appropriately structured, suitable for project financing For more information on central project financing issues relating to gas peaking projects, see Practice Note: Gas peaking projects—key project issues relevant to project financing. This Practice Note considers gas peaking within the GB energy market and does not take account of the distinct position in Northern Ireland. For further practical guidance on the financing of energy, power and resources projects across a range of sectors, including those discussed in this Practice Note, see also textbook: Energy and Resources Financing: A Practical Handbook. What is ‘gas peaking’? In broad terms, peaking technology describes any form of technology...