O&G giant Shell has backed residential renewables platform GreenCom Network’s €12 million (£11 million) funding round through its investment arm, Shell Ventures.
EDF has invested in cleantech startup PowerUp in a bid to support its 10GW of storage by 2035 ambitions.
As governments turn their eyes to a green recovery, 80% of institutional investors are planning to increase their investment into renewable energy.
For the UK to reach its net zero target, £40 billion a year will be needed in infrastructure spending, double current levels.
Zenobe Energy is targeting an additional 500MWh of storage and 1,000 electric buses following a £150 million investment from Infrascapital, the infrastructure equity investment arm of M&G.
Business investment in UK utilities shrank by 56.8% in Q2 year on year, as the impact of the COVID-19 pandemic hit hard.
Pension funds expecting to increase renewable allocations with solar and onshore wind top of the list
Solar and onshore wind are predicted to remain the top renewable investments, with pension funds to increase their renewable allocations.
If the UK is to meet its new offshore wind target of 40GW by 2030, further funding and more frequency Contract for Difference (CfD) auctions will be needed.
BP has made its first stride into the offshore wind market in a deal to develop the renewable generation technology in the US with Equinor.