Nova Innovation receives funds for tidal energy in North Wales

11/08/2017 11:36 Hydro


UK tidal energy generator Nova Innovation has been awarded £265,000 for the development of a tidal project at Bardsey Sound in north Wales.

The commercial manager at Nova Innovation said that it is a challenging opportunity for the company and for Wales to prove that they can substantially contribute to UK’s energy mix, since UK’s tidal stream energy has the potential to generate close to 20% of the country’s energy demands.


The financial aid will also enable Nova to invest in the local supply and help create new jobs, thus reviving the coastal settlements. 


The first stage of the project will be the appraisal of the project’s practicability, and together with the Environmental Impact assessment, the whole process will take around a year to complete. After that, Marine Resource Wales needs to receive a marine license application, which will extend the wait to another year, as the regulator will have to check the application and make a decision.

Russia aims strategic energy partnership with China

21/11/2017 16:13:00

Russian oil giant Rosneft has signed an agreement with Chinese company CEFC Energy, aiming crude oil supply. The accord is based on a long-term deal inked between parties earlier. The delivery will start next year.


The boost of low-cost renewables changes EU energy expectations for 2030

21/11/2017 13:54:00

The accelerated fall in wind and solar energy costs, and flexible demand technology could substitute more than 50% of coal and gas generated electricity in Europe by 2030, as indicated in a recent research published on Tuesday.


Bosnia inks a 60-million-euro loan agreement with KfW bank for Hrgud wind farm

21/11/2017 11:32:00

Bosnia's finance minister Vjekoslav Bevanda inked an agreement with German development bank KfW on Wednesday to financially back the construction of the Hrgud 48 MW wind farm. The loan is estimated at 60 million euros ($69.6 million). ​​​​​​​