The latest renewable energy news includes announcements from ScotWind Offshore Wind, Terragrit, Greenly, Normative, Covenergo, Delta Capacity, and others.
Scotland Faces Scrutiny Over £755 Million ScotWind Offshore Wind Revenues
Audit Scotland has called for greater transparency over the £755 million generated from the ScotWind offshore wind leasing round. The Scottish Government has drawn down £96 million so far, while Audit Scotland said it is unclear how that money supported the net-zero transition or how remaining funds will be used. Crown Estate Scotland has held the proceeds largely in 12-month deposits, providing government access to the money but limiting investment options. ScotWind initially awarded seabed options to 20 offshore wind projects. The Scottish Government said projects progressing to long-term leases could generate an estimated £80 million–£110 million annually over 60 years, while associated supply-chain commitments currently total £29.1 billion.
Terragrit Secures National Grid Partners Investment for AI Utility Operations Platform
Terragrit has secured a strategic investment from National Grid Partners, the venture investment and innovation arm of National Grid. The investment amount and valuation were not disclosed. Terragrit develops an AI platform that models physical operations and allows companies to simulate proposed operational changes before implementing them. The new investment will support expansion in the energy and utility sector, where the software can be applied to infrastructure and operational planning. National Grid Partners combines venture investment with technology deployment across National Grid’s businesses, providing portfolio companies with access to utility operating environments. Terragrit is headquartered in New York and is developing its platform around simulation-based operational decision-making for companies managing physical infrastructure.
Covenergo and Delta Capacity Start Construction of 125 MW / 300 MWh Finland BESS
Covenergo and Delta Capacity have started construction of a 125 MW/300 MWh standalone battery energy storage system in Lapinlahti, Finland. The project provides about 2.4 hours of storage at maximum rated output. Covenergo is providing renewable-energy services, while Swiss-based Delta Capacity is the storage developer. Construction start is the material new milestone, moving the project from development into execution. The battery will participate in Finland’s electricity market and provide flexibility as additional variable renewable generation enters the Nordic grid. The 300 MWh system will be capable of storing electricity during lower-demand periods and supplying it when demand and market prices increase.
Greenly and Normative Merge Their Carbon Accounting Platforms
Greenly and Normative have agreed to merge, combining two carbon-accounting software businesses serving corporate customers managing greenhouse-gas emissions data. The companies provide software used to calculate, monitor and report corporate emissions across operational and supply-chain activities. The transaction combines their technology, customer bases and carbon-accounting operations under a larger platform.
