UK Energy Policy Concerns Sink RES Power Station Project

Law360, New York (March 7, 2014, 2:15 PM EST) -- RES has become the latest U.K. biomass power producer to drop plans for a power station after citing issues with uncertain U.K. energy policy, announcing Thursday that it has stopped work on a £300 million ($502 million) biomass power station project in northern England.

RES said it is abandoning the project located at Port of Blyth in Northumberland, citing the withdrawal of a “key project partner” late last year and “ongoing uncertainty in U.K. energy policy.” The company joins German utility giant E.ON, who in October...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.