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Summary
- Energy major Royal Dutch Shell PLC announced a partnership with Scotland-based energy company ScottishPower to bid for offshore windfarm development in Scotland.
- Italy’s oil major Eni was among some of the other firms which were keen to be part of this leasing round.
UK-based energy major Royal Dutch Shell PLC (LON: RDSA) announced on Friday a partnership with Scotland-based energy company ScottishPower, to bid for the development of the first large scale floating windfarm located offshore in the northeast of Scotland.
The two companies had submitted multiple proposals to the seabed’s managing organisation Crown Estate Scotland for the auction round, the submissions for which closed today. ScottishPower is a part of the Spain-based electric utility firm Iberdrola SA.
Italy’s oil and gas major Eni was among some of the other companies who had expressed an interest to be part of the auction. The leasing round is for next generation windfarms located at 15 different seabed sites.
This is the latest in a recent flurry of activity surrounding the renewable energy sector in the UK. Here we will take a look at 3 FTSE listed renewable energy companies and how they have been performing in the stock market:
- ITM Power Plc (LON: ITM)
FTSE AIM UK 50 index listed ITM Power is a UK based hydro energy company. It recently announced that Japanese trading firm Sumitomo Corp and utilities company Tokyo Gas Co Ltd would be using its in house technology for a hydrogen demonstration experiment related to reducing carbon emission in Japan.
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ITM’s shares were trading at GBX 381.20, down by 2.56 per cent on 16 July at 08:33 AM GMT+1. At the same time the FTSE AIM UK 50 index stood at 6,393.42, up by 0.11 per cent.
ITM’s market cap stood at £2.154 billion, and it has given a return of 23.55 per cent in the last one year.
Also Read: Top 10 AIM Stocks with Dividend
- Ceres Power Holdings plc (LON:CWR)
Another FTSE AIM UK 50 index listed firm Ceres Power Holdings is a fuel cell technology company. It recently reported its final results for the 18 months ending on 31 December 2020, its revenue rose to £33.0 million from £16.4m in the 12 months ended 30 June 2019 led by significant progress on major contracts.
(Image Source: EODHD/Others)
Ceres’ shares were trading at GBX 924.50, up by 1.54 per cent on 16 July at 09:11 AM GMT+1. In contrast the energy sector index stood at 5,040.06, up by 0.78 per cent.
Ceres’ market cap stood at £1.733 billion, and it has given a return of 61.13 per cent in the last one year.
- Velocys PLC (LON:VLS)
FTSE AIM All-Share listed firm Velocys PLC is a sustainable fuels technology company. It recently announced a strategic framework agreement with Koch Project Solutions for the company’s Bayou Fuels biorefinery project in Mississippi.
(Image Source: EODHD/Others)
Velocys’ shares were trading at GBX 4.42, up by 3.88per cent on 16 July at 09:24 AM GMT+1. The company’s market cap stood at £45.29 million.
Meanwhile, the FTSE AIM All-Share index stood at 5,040.06, up by 0.78 per cent.
Also Read: Ofgem To Invest £300 Million In EV Charging Infra; Focus on ITM Power and Ceres Power
