Perth-based power generator and network operator, SSE, has revealed a near doubling of annual profits, driven by surging energy prices which fuelled a boom for its gas-fired power plants.
Engineering firm, Brimmond, is celebrating a record financial year, having realised a turnover of £6.5 million, marking a 10% increase from the prior year.
Offshore engineers Blackfish have today launched a Scottish arm to support the fast-expanding offshore wind sector – with the goal of helping operators accelerate innovation and drive down cost.
In a significant boost to Scotland’s green energy sector, Sumitomo Electric Industries, a Japanese multinational corporation, has announced a £200 million investment in a new high-voltage subsea cable manufacturing plant.
Supported by Thorntons, Dumfries and Galloway-based Carbon Capture Scotland has secured a seven-figure sum investment from Steyn Group to facilitate further growth.
Apollo Global Management has withdrawn its fifth proposal to acquire Aberdeen-based energy services company Wood Group, causing the company’s share price to drop to 135p on Monday morning, which equated to a loss of over £500 million in the company’s stock market value.
Canary Wharf Group (CWG) has entered into a 15-year power purchase agreement (PPA) with global asset manager and renewable energy provider Brookfield to buy clean energy and support the construction of a new wind farm in Scotland.
International investment firm TowerBrook Capital Partners has invested an undisclosed amount in Envevo, an EV charging points design and installation firm catering to B2B clients.
Clean energy company Verlume has secured £7.2 million in funding, with £6.6m provided by the Scottish National Investment Bank, to support its expansion plans.
Ardersier Port, situated near Inverness, has received an initial £300 million investment commitment from Quantum, a US investment firm that provides private capital to the global energy industry, to fuel the port’s redevelopment into a major energy transition facility.
Aberdeen-headquartered Wood Group’s board has confirmed it is considering Apollo Global Management’s fifth acquisition proposal for 240p per share, which was put forward earlier in the month.
AMTE Power, a UK-based battery manufacturer, is considering relocating its planned gigafactory from Dundee to the United States due to the Inflation Reduction Act’s subsidies.
UK oil and gas companies are expected to be offered windfall tax relief by Prime Minister Rishi Sunak as part of efforts to boost investment and improve energy security.
Crown Estate Scotland has secured £262 million in applicant fees from the first leasing round designed to enable offshore wind energy to directly supply offshore oil and gas platforms.