This Weekâs Top 5 Stories in Energy
Iberdrola has agreed to sell 100% of its UK smart metering business for €1.06bn (US$1.18bn) to Macquarie, a global financial services group headquartered in Australia.
The transaction is expected to complete in the third quarter of 2025 subject to approval by the UK competition authority.
SP Smart Meters Asset Limited (SPSMAL) currently manages 2.7 million meters, taking Macquarie’s UK portfolio to more than 13 million meters.
Julian Liddy, Senior Managing Director at Macquarie Specialised and Asset Finance, says: “Having played an active role in the roll out of more than 7.5 million smart meters to British households and businesses, this transaction provides an opportunity for us to add further scale and continue to drive progress towards UK government targets and bring benefits to British electricity and gas consumers.
“We are pleased to be taking ownership of a business with a track record of strong performance under the management of Scottish Power and look forward to supporting its further growth.”
13 May
The UK Government has announced a £1bn (US$1.3bn) funding deal to establish an AESC battery gigafactory in Sunderland, UK.
The National Wealth Fund and UK Export Finance will provide financial guarantees unlocking £680m (US$898m) in financing from banks including HSBC, Standard Chartered and SMBC Group.
In addition to this funding, the UK Government’s Automotive Transformation Fund is investing £150m (US$198m) in grant funding.
This follows a trade deal agreement between the US and UK that cut tariffs on cars, including EVs, from 17.5% to 10% on a quota of 100,000 UK cars.
Shoichi Matsumoto, CEO of AESC, said: “This investment marks a key milestone in AESC’s ongoing efforts to support the UK’s path towards decarbonisation and the expansion of its EV market.
“Through close collaboration with strategic partners, we strive to accelerate this transition while creating high-quality local jobs and building a resilient, sustainable supply chain.
“We are honoured to contribute to the development of low-carbon economy with our advanced battery technologies.”
Chancellor of the Exchequer, Rachel Reeves, said: “This investment in Sunderland will not only further innovation and accelerate our move to more sustainable transport, but it will also deliver much-needed high quality, well-paid jobs to the North East, putting more money in people’s pockets.”
13 May
Aggreko has been named the Official Temporary Power Solutions Provider for European Formula 1 races in a seven-year partnership.
Its solutions were used for three races in the 2024 season, including at the Austrian Grand Prix, where associated carbon emissions were reduced by more than 90% compared to 2022.
Solar PV hybrid systems using battery energy storage systems (BESS) and Stage V generators fuelled by hydrotreated vegetable oil (HVO) will be used across facilities at Grands Prix.
Aggreko’s low-carbon power solutions support not just the paddock, but also F1’s International Broadcast Compound in efforts to bring the sport to net zero by 2030.
Ellen Jones, Head of ESG at Formula 1, said: “The delivery of our Net Zero by 2030 commitment is driven by new technologies and new ways of working.
“With Aggreko's support, Formula 1 is taking another step to reduce emissions across the Paddock.
“The low carbon power solutions will be in action across our European events this year and will further support our drive to be Net Zero by 2030."
14 May
The world's first large-scale e-methanol commercial facility has commenced operations in southern Denmark.
Situated in Aabenraa, the Kassø e-methanol facility is set to produce 42,000 tonnes of e-methanol annually, aiding industry leaders in their decarbonisation efforts.
This project is a collaboration between European Energy A/S, holding a 51% stake, and Japanese trading giant Mitsui & Co, owning the remaining 49%.
The plant aims to transform how renewable electricity is utilised, particularly in sectors that have proven difficult to electrify directly.
Shipping company A.P. Moller - Maersk will use this e-methanol to power the Laura Mærsk, the world's first container vessel capable of using methanol.
15 May
The establishment of Great British Energy is now official, after a bill was passed through the House of Commons this morning on 15 May 2025.
This publicly owned venture is set to enhance Britain's clean energy transition, driven by a ÂŁ8.3bn ($10.4bn) financial commitment from the government.
This initiative was unveiled following the Labour governmentâs election in July 2024, with a prime focus on boosting the nation's sustainable energy efforts.
Great British Energy aims to channel a considerable portion of these funds into clean energy projects nationwide.
This legislation garnered unanimous agreement from Scotland, Wales and Northern Ireland, a first for this parliament.
"Great British Energy comes from a simple idea: British people should own and benefit from our own natural resources," said Energy Secretary Ed Miliband, during a visit to a Hull hospital powered by solar energy.
"We are giving people a stake in clean energy and delivering profits for the British people.â
Explore the latest edition of Energy Digital Magazine and be part of the conversation at our global conference series, Sustainability LIVE.
Discover all our upcoming events and secure your tickets today.
Energy Digital is a BizClik brand
