Posts tagged EDF Energy

Major industry Players back the Green Deal Finance Company as £244m funding package is ready to flow

Major industry Players back the Green Deal Finance Company as £244m funding package is ready to flow

The Green Deal Finance Company (GDFC) has confirmed a £244 million funding package to set-up Green Deal Plans that will enable providers across the country to begin work on the scheme.

The GDFC can also confirm the 16 organisations behind the stakeholder loan – all key players in the Green Deal. This package will provide very long-term and low-cost funding to enable householders across all parts of the country to finance energy efficiency improvements to their homes.

The 16 organisations behind the stakeholder loan are key players in the Green Deal, including energy suppliers, potential Green Deal installers and the Department of Energy and Climate Change. They are British Gas, Carillion, CertiNergy, CIGA, the Department for Energy & Climate Change, Domestic and General Insulation, EDF Energy, E.ON, Gentoo, InstaGroup, Kingfisher, Newcastle City Council, RWE npower, PricewaterhouseCoopers LLP, SSE, and ScottishPower.

The financing package consists of:

  • committed funding of £69 million from 16 members of the company and other stakeholders in the Green Deal in the form of Stakeholder Loans and Junior Capital
  • an additional Junior Capital Facility of £20 million and a Contingent Capital Facility of up to £30m provided by DECC
  • a senior debt facility of £125 million provided by the UK Green Investment Bank

Mark Bayley, Chief Executive of the Green Deal Finance Company, said: “I am delighted to confirm the completion of the £244m financing package with our principal stakeholders, DECC and the UK Green Investment Bank. We can now offer Green Deal Providers a one-stop-shop to set up, finance and administer Green Deal Plans.

“By ensuring that householders can only borrow what they can expect to save in energy bills, and by offering a fixed rate for 10 to 25 years, Green Deal Plans will be affordable and widely available to over 80% of the population. No other consumer credit product offers a fixed rate for up to 25 years and is this inclusive.”

“I am also delighted to be making this announcement after very strong growth in Green Deal assessments of energy-saving measures requested by householders during March, well in excess of the 1,800 or so assessments carried out in February. Many of these assessments can be expected to convert into Green Deal Plans as householders install the measures into their homes.”

Commenting on the publication of the latest Green Deal statistics, Energy and Climate Change Minister Greg Barker said: “It is clearly very early days but the latest figures on the Green Deal show that this new market is gathering real momentum. 9,268 Green Deal assessments taking place in just over two months is very encouraging and shows a genuine interest from consumers.

“The Green Deal gives people the opportunity to improve the efficiency of their homes, make them warmer and protect themselves from rising energy bills.

“The number of businesses getting on board continues to rise steadily, underlining that the Green Deal offers fantastic new commercial opportunities.

“48 firms are now authorised as providers, with a further 831 registered to carry out installations and over a thousand individuals registered to offer assessments. Overall this is a really promising start for the Green Deal.”

What is your reaction to the £244 million funding for the Green Deal initiative that will finance energy efficiency improvements to people’s homes and boost the trades? Share your thoughts by commenting here or raise your voice on our Facebook and Twitter pages.

Sizewell nuclear project to create 5,600 new jobs

EDF Energy has today started a public consultation for building a nuclear power station in Suffolk that will create 5,600 jobs in the trades.

Over the next eleven weeks EDF Energy will be consulting on the company’s initial proposals to build the Sizewell C nuclear station next to an existing plant at Leiston

The project is expected to take nine years to complete. EDF said that the scheme could create 25,000 ’employment opportunities’, with 5,600 workers on site at the peak of construction.

EDF also wants to create two park and ride sites, intended for construction staff that will be employed to deliver the multi-million project.

Local people can have their say on areas such as the overall proposals for Sizewell C, a rail, sea and road transport strategy including park and ride sites, accommodation for workers, and the socio-economic effects of the power station construction.

Richard Mayson Director of Planning and External Affairs, Nuclear New Build, EDF Energy, said:  “We are looking forward to talking to people in the local communities in Suffolk and with other stakeholders about our proposals.

“Sizewell C would generate enough electricity to supply one in five homes in Britain. It would make an important contribution to the UK’s future needs for low-carbon, secure and affordable energy. It would also create significant business, training and employment opportunities locally, regionally and throughout the UK.

“I urge you to play an active role in this consultation process. We are committed to giving your feedback serious consideration and will take it into account as we prepare detailed plans for Sizewell C.”

What is your reaction on building a new nuclear power station in Suffolk that will create new jobs and generate enough electricity to supply 5 million homes? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages. 

The UK’s First Nuclear Station in Somerset Will Create New Trades Jobs

 

Proposed plans for building the UK’s first nuclear power station in Somerset will be debated by planners and local authorities, the BBC reported today.

More than 5, 000 new jobs in the building construction industry could be created in the first phase of the project, if the planned nuclear power station near the Bristol Channel, in South West England, is given the green light by the government next year.

One of Britain’s largest energy suppliers, EDF Energy, announced last week the selection of the preferred bidder for carrying out civil works to build the proposed new nuclear power station at Hinkley Point C in Somerset.

The joint venture between Bouygues TP and Laing O’Rourke includes the construction of the main civil works for the nuclear island and building the supporting structures of the project.

This contract is the first relating to the main construction work which will see up to 25,000 jobs created on site over the course of the project, including an estimated 400 apprenticeships, Laing O’Rourke announced.

EDF’s Chief Executive, Vincent de Rivaz, said: “The civils contract will assist the UK’s economic recovery and boost economic prospects and prosperity locally. Our project will inject billions of pounds into the economy, revitalise entire sectors of industry and support tens of thousands of further jobs.”

Chairman and a Chief Executive of Laing O’Rourke, Ray O’Rourke, commented: “We are delighted, along with our partner Bouygues Construction, to be appointed by EDF Energy as preferred bidder to lead the development of the first new nuclear power station, which is vital to meet the UK’s future energy demands and support the wider economic recovery.”

Do you welcome the building of UK’s first nuclear power station in Somerset? What are the implications of this project for you/ your business? Share your thoughts by commenting here or raising your voice on our Facebook page.

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