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Posts on ‘February 17th, 2020’

Shell to Buy Power From U.K.’s Largest Battery Storage Plant

Shell Energy Europe Ltd. has agreed to trade power from what will be the U.K.’s largest battery storage project.

The Royal Dutch Shell Plc unit agreed to a multi-year deal to “optimize the use of renewable power” in the China-backed project, which is expected to come online by the end of this year. Batteries, Shell says, will play a key role in the energy transition as these will be able to store excess energy and feed it back to the grid when demand calls for it.

China Huaneng Group and China’s state-backed CNIC fund are backing the Minety power storage project, which consists of two 50-megawatt batteries in southwest England. “Projects like this will be vital for balancing the U.K.’s electricity demand and supply as wind and solar power play bigger roles in powering our lives,” according to David Wells, vice president of SEEL. read more

Just Energy took €5.2m loss before its Irish exit last year

Just Energy took €5.2m loss before its Irish exit last year

February 17, 2020

The defunct Irish unit of US-Canadian firm Just Energy racked up a €5.2m loss in the year before it pulled the plug, newly filed accounts show.

Just Energy’s Irish operation had about 10,000 customers when the parent firm announced its exit from the Irish market last May.

It planned to sell non-core assets and focus on “higher margin North American operations”, the firm said then.

In October, it sold its UK unit to Shell Energy Retail.

The following month, Flogas agreed to acquire Just Energy’s customer accounts in Ireland for just €675,000. read more

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