Banks Group, the firm behind plans for an open cast coal mine at Druridge Bay in Northumberland, has announced its intention to appeal the government’s decision to refuse planning permission for the project. Last month Communities Secretary Sajid Javid rejected the Druridge Bay application, citing concerns over landscape and climate impacts from the controversial development.
Business Green 18th April 2018 read more »
French oil major Total has followed the lead of Royal Dutch Shell by deepening its exposure to the household energy sector with a €1.4bn (£1.2bn) deal to buy a utility. Total said it plans to buy a three-quarter stake in Direct Energie at a 30pc premium to the energy supplier’s market price at last close in a “friendly deal”, before making a tender offer for the rest of the company at the same price of €42 a share. The deal would help establish its position as a “leading alternative supplier” of natural gas and electricity, according to Total, by adding Direct Energie’s 2.6 million clients to its existing 1.5 million customer base. The oil group’s growing interest in the power market follows Shell’s decision to enter electricity supply because it offers “the biggest growth in the energy market”. The deal to buy bi g six challenger brand First Utility was rumoured to be worth £200m. Elsewhere BP’s solar acquisition, Lightsource BP, won the chance to run a £240m India-focused renewable investment fund on behalf of the UK and Indian governments.
Telegraph 18th April 2018 read more »
French oil major Total has announced plans to buy French utility Direct Energie, in the latest shake-up of an energy sector rapidly shifting its focus towards electricity. The deal will make Total the latest major fossil fuel player to go after the utility market, following Shell’s surprise buy out of First Utility in December.
Business Green 19th April 2018 read more »