Latest news with #SSE
The Herald Scotland
20 hours ago
- Business
- The Herald Scotland
Hopes of big green jobs boost for Highlands and Argyll fade
However, the projects have been cast into uncertainty after cost increases and concerns about issues such as planning consents weakened the commercial appeal of schemes that would entail hefty upfront investment. Perth based SSE has held out the prospect the Coire Glas development could store enough power for three million homes. It would work by harnessing the power generated by the flow of water between two reservoirs that SSE plans to develop by Loch Lochy. The company would use power generated by windfarms in times of low demand to pump water into the upper reservoir. When demand increases the water will be allowed to flow into the lower reservoir turning huge turbines in the process. Drax has developed a plan to double the capacity of the massive Cruachan Hollow Mountain facility in Argyll, which would involve hollowing out spaces in which it would install more turbines. READ MORE: SNP Government oil hypocrisy shocking amid Scottish jobs cull Israeli-owned firm takes control of UK's biggest gas field The companies have claimed the schemes could provide vital support for the renewables revolution by tackling the problem caused by the fact that the UK does not have enough capacity to store renewable energy or transport it to centres of high demand. But in its annual results SSE said it planned to reduce its investment budget by £3 billion, to £17.5bn, citing the challenges posed by the macro environment and planning issues. Chief executive Alistair Phillips-Davies said a range of projects including Coire Glas would be delayed as a result. Mr Phillips-Davies said the giant Berwick bank windfarm development off Scotland had also been delayed, as a long wait for the Scottish Government to provide planning consent drags on. He complained to reporters that the scheme has been on ministers' desks for about three years. The announcement by SSE came a fortnight after Drax announced that the Cruachan expansion project had been put on hold following a significant rise in costs. The statements leave huge uncertainty hanging over projects that were expected to provide a badly-needed boost to flagging hopes that Scotland will enjoy a green jobs boom. The number of jobs created has fallen well short of expectations, partly because windfarm developments require relatively few people to complete. Coire Glas and the Cruachan expansion scheme would be unusual in featuring large scale construction work. SSE has completed some preparatory work for the Coire Glas development by Loch Lochy (Image: SSE) Experts have highlighted the fact Scotland urgently needs to accelerate the pace of green job creation amid turmoil in the oil and gas sector. There are fears that firms could cut hundreds of jobs in response to the Labour Government's decision to increase the windfall tax rate in its first Budget. In a report issued today Robert Gordon University says the UK oil and gas energy workforce could shrink by approximately 400 jobs every two weeks for the next five years – the same number lost as a result of the closure of the Grangemouth refinery – unless governments take urgent action. It notes: 'Before 2027, there is likely to be limited capacity for the UK offshore renewables sector to host and accommodate the quantity of oil and gas workers becoming available on the job market.' Oil and gas industry leaders are mounting a last ditch bid to persuade chancellor Rachel Reeves to provide relief when she announces the results of her Comprehensive Spending Review on June 11. Offshore Energies UK said the Government should bring forward the date for the ending of the windfall tax to 2026 from 2030. The trade body claimed: 'Independent data from the Office of National Statistics confirms that the profits for those investing in the UK oil and gas sector have fallen to negative levels, but the tax remains - holding back vital investment across the UK's energy landscape.' READ MORE: North Sea giant eyes major expansion move as oil and gas job losses mount Just transition furore reignited as Scottish Government flounders OEUK chief executive David Whitehouse said the UK needed the output of the oil and gas industry and the support firms could provide for the development of green energy sources. 'The sector needs action now to secure jobs, boost energy security, and build for the future. That means a commitment from government to deliver a mechanism in 2026 that creates a predictable response to future price shocks,' declared Mr Whitehouse. 'This is what is needed to unlock investment in UK energy - oil, gas, renewables, hydrogen, and carbon capture.' But SSE and Drax made clear they will only proceed with big pumped hydro storage projects if tough conditions are met. SSE chief executive designate Martin Pibworth noted the company is in talks with Ofgem about the cap and floor mechanism the regulator has proposed to guarantee firms a minimum price for the output from pumped hydro storage schemes. Regarding Coire Glas, he said: 'We will only progress if we are convinced we have a solid remuneration contract with appropriate risk-adjusted returns.' Drax said: 'We will not be entering the forthcoming Cap & Floor application process while we evaluate the investment case for the [Cruachan expansion] project.' The bad news from SSE about Coire Glas and Berwick Bank will compound the disappointment caused by the company's decision to shelve plans for the Bhlaraidh windfarm extension in the Great Glen because bosses did not like the look of the 'risk-return profile'. But SSE will still spend heavily on growing its renewables generating capacity in the expectation that it will generate strong returns on investment in favoured projects. Mr Pibworth said: 'The vast majority of this growth will be delivered by the first two phases of Dogger Bank [off Yorkshire] and well-progressed onshore and battery projects.' He highlighted the value of the support the favoured projects will get under UK Government schemes such as the Contracts for Difference (CFD) programme - the costs of which are added to household energy bills. 'Crucially, these investments are underpinned by long-term government-backed contracts such as CfDs or the capacity mechanism, providing price certainty and inflation protection for the vast majority of volumes produced,' said Mr Pibworth. SSE said it championed a fair and just energy transition, as it posted a near £2bn operating for the latest year, The company said it supports 62,000 jobs in the UK and around 5,200 in Ireland. But householders who are grappling with high energy bills may wonder who will be the biggest beneficiaries of SSE's investment in renewables. The company expects to reward shareholders with inflation-busting increases in dividend payments of up to 10% for the next two years.
Associated Press
2 days ago
- Business
- Associated Press
CyberRatings.org Announces Test Results for Zscaler Zero Trust Exchange
Achieves 100% Overall Security Effectiveness for Security Service Edge (SSE) Threat Protection and 100% Effectiveness for Zero Trust Network Access (ZTNA). AUSTIN, Texas, June 2, 2025 /PRNewswire/ -- (CyberRatings), the non-profit organization dedicated to providing insight into the capabilities of cybersecurity products and services through independent testing, has released additional results from its Security Service Edge (SSE) and Zero Trust Network Access (ZTNA) testing. This latest test focused on another leading product: Zscaler Zero Trust Exchange (ZTE). Zscaler achieved a Security Effectiveness score of 100%, successfully blocking 100% of exploits, malware and evasions in the SSE test. The test report provides details on product performance across multiple threat categories, with scoring weighted by attack severity. The SSE evaluation covered: The ZTNA results confirmed that Zscaler demonstrated strong capabilities by effectively enforcing policies and managing access according to predefined rules, policies, and user roles, achieving 100% in all categories tested. The ZTNA test covered: Of the SSE test criteria, meeting the threshold of blocking evasions had the most impact on scores. Evasion techniques are used by attackers to disguise or obfuscate attacks so that they bypass detection. SSE products must not be tricked by evasions—failure exposes organizations to entire classes of undetected threats. Zscaler scored 100% in blocking all 1,154 evasion attempts. Security Service Edge is a complex multi-layered security technology built on top of complex, ever-changing cloud technologies. Customers have minimal visibility into their operation and architecture, and testing is challenging. This double-layered opacity limits an organization's ability to diagnose performance issues, fine-tune policy enforcement, or validate security outcomes. 'The only way to know if an SSE offering works properly is to test it,' said Vikram Phatak, CEO of 'Our test determined that Zscaler provides exceptional security effectiveness and strong coverage across a wide variety of threat categories.' CyberRatings is on track to test several other SSE vendors for Threat Protection along with a Comparative Report to be published this summer. In addition to in-house testing technologies, CyberRatings used Keysight's CyPerf tool to test performance and TLS/SSL functionality as well as TeraPackets Threat Replayer tool for exploit packet capture replay. The in-depth test reports are available at Additional Resources: SSE Threat Protection Methodology v2.1 Zero Trust Network Access Methodology v2.0 About is a 501(c)6 non-profit organization dedicated to providing insight into the capabilities of cybersecurity products and services through independent testing programs. We provide enterprises with independent, objective ratings of security product efficacy to make informed decisions. To become a member, visit and follow us on LinkedIn. View original content to download multimedia: SOURCE
Yahoo
2 days ago
- Business
- Yahoo
Ekinops completes the acquisition of Olfeo and becomes a network cybersecurity player
PARIS, June 2, 2025 /PRNewswire/ -- EKINOPS (Euronext Paris: FR0011466069) (Euronext Paris: EKI), leading supplier of telecommunications solutions for telecom operators and enterprises, announces the completion of the acquisition of 100% of the share capital of Olfeo, a French provider of SSE (Security Service Edge) cybersecurity software. The transaction, which was subject to customary closing conditions, was announced in a press release on May 15, 2025[1]. This combination creates a leading European player in the network cybersecurity market, in the fast-growing segments of SSE (Security Service Edge) and SASE (Secure Access Service Edge), bringing French expertise to the European and global stage. Final terms of the transaction On 30 May 2025, Ekinops acquired 100% of Olfeo's share capital through its holding company, Oscar SAS, from its founding shareholders, financial investors and employee shareholders. This acquisition was fully financed in cash, using Ekinops' own funds and the syndicated credit line dedicated to external growth, provided by its banking partners. Olfeo's management team is fully committed to this merger. In this context, Alexandre Souillé, founder and CEO of Olfeo, along with his team, will continue to develop the cybersecurity activity within Ekinops. Olfeo is consolidated in Ekinops' accounts from 1 June 2025. Olfeo, a French leader in SSE and enterprise web security Founded in 2003 and based in Paris, Olfeo is a cybersecurity software company that protects enterprise information systems from cyberattacks and risks related to employee Internet usage. Olfeo's web security gateway solutions are offered through a subscription model, either as SaaS (Software as a Service) or on-premises. Olfeo is one of the leading European players in SSE and offers a web security solution that combines multiple layers of security (SWG, CASB, DNS, DLP, etc.)[2] to protect enterprise information systems. With a team of 60 employees, half of whom are dedicated to R&D, Olfeo secures network and web access of over 500 customers and partners (businesses, local authorities, healthcare institutions, French governmental service and infrastructure operators, etc.). Olfeo generated €6.3m in recurring revenue (ARR - Annual Recurring Revenue) in 2024, with an EBITDA[3] margin of over 20%. Ekinops becomes a European market leader in Secure Access Service Edge (SASE) The convergence of network connectivity and cybersecurity challenges is at the heart of today's digital transformation for businesses. Operators are very much on the look for single-vendor network cybersecurity solutions that are sovereign, immediately available, and combining performance, security, ease of deployment and regulatory compliance. The SASE for networks cybersecurity market is estimated at over $9bn by 2025, with an average annual growth rate of +13% over the next few years[4]. By 2026, Ekinops aims to position itself in the "Unified SASE" segment, with a fully integrated solution specifically designed for mid-sized companies (SMB and SME). Ekinops intends to address this segment by leveraging its installed customer base with major telecom operators. The "Unified SASE" market is estimated to exceed $600m by 2025, with an average annual growth rate of over +27% over the next few years. Together, Ekinops and Olfeo will be able to meet the growing needs of public and private organizations for secure cloud access and agile network infrastructures, offering a high-performing and responsible European technology. For more information, refer to the press release dated 15 May 2025:Ekinops announces the acquisition of Olfeo, a cybersecurity software provider for businesses EKINOPS ContactDidier Brédy, Chairman and CEOcontact@ Omnes, Investor relationTel.: +33 (0)1 53 67 36 92momnes@ Dugast, Press relationTel.: +33 (0)1 53 67 36 74adugast@ [1] Press release dated 15 May 2025: Ekinops announces the acquisition of Olfeo, a cybersecurity software provider for businesses[2] SWG: Secure Web GatewayCASB: Cloud Access Security BrokerDNS: Domain Name SystemDLP: Data Loss Prevention[3] EBITDA (Earnings before interest, taxes, depreciation, and amortization) corresponds to current operating income restated for (i) amortization, depreciation and provisions and (ii) income and expenses linked to share-based payments.[4] Source: Dell'Oro Group Photo: View original content to download multimedia: SOURCE Ekinops
RTÉ News
4 days ago
- Sport
- RTÉ News
Conor Keeley's late Drogheda equaliser denies Waterford victory
Conor Keeley rescued an unlikely share of the spoils for Drogheda United as Waterford FC's inability to defend set-pieces came back to haunt them deep into second-half injury-time in their SSE Airtricity Men's Premier Division clash at the RSC. After Blues skipper Padraig Amond thought that he had won the game with an 81st-minute finish, the visitors had the final laugh in added time when the central defender hammered home from close-range when he was left unmarked at the back post to meet a Darragh Markey corner-kick. The Waterford front three combined for the breakthrough goal on 19 minutes. Conan Noonan slipped the ball into the feet of Amond, who in turn played the perfectly weighted pass for Tommy Lonergan, who beat keeper Luke Dennison with a deflected effort off Elicha Ahui from 14 yards. Drogheda were level from a set-piece at the other end four minutes later. Shane Farrell sent in a left-wing corner-kick into the centre of the penalty area and Warren Davis powered a simple close-range header to the far corner past a helpless Stephen McMullan. Davis was twice denied in a bid to give his side the lead on 40 minutes when Shane Farrell whipped in another dangerous left-wing corner that saw Keeley send the ball back into the six-yard box for the striker, but after Rowan McDonald blocked his initial effort, he hooked the rebound just over. John Coleman's side got their noses in front on 81 minutes when Grant Horton sent over a right-wing cross that saw Ahui clear to Dean McMenamy, who saw his goal-bound effort touched home by Amond past Dennison. The leveller came three minutes into added time from another set piece. Darragh Markey swung over a right-wing corner-kick to the back post, where the unchallenge Keeley blasted high to the roof of the net from close-range before Ahui was sent off late on for a second yellow card. Waterford FC: McMullan; Horton, McDonald, Leahy, Burke; Olayinka (McMenamy 77), Glenfield (McCormack 85), White; Lonergan (Pouwels 88), Amond, Noonan.
Telegraph
27-05-2025
- Business
- Telegraph
Ed Miliband ‘poised to miss' 2030 offshore wind targets
Ed Miliband will likely miss his 2030 offshore wind targets by a large margin amid a lack of investor appetite, a report has warned. The Energy Secretary's ambition for British offshore windfarm capacity to hit 43 gigawatts (GW) by the end of the decade is looking out of reach, analysis by BloombergNEF found. Mr Miliband will fall 10GW short of his target, the energy research consultancy predicted. It comes after Ørsted recently pulled out of plans to double the size of the Hornsea project off the East Yorkshire coast. The Danish offshore wind developer, which is the world's largest, blamed its decision on rising costs. The expansion would have generated enough electricity to power 2.6m homes. Energy giant SSE is also slowing investment in a project to build the world's largest offshore wind farm on Scotland's east coast. The project was met with resistance from wildlife charities, which claimed it would kill and displace 31,000 seabirds. Efforts to expand offshore wind have been struggling in the face of high interest rates, difficulties in sourcing components and an expected decline in long-term electricity prices. This has rendered some government subsidy contracts, known as contracts for difference, unviable. A contract for difference guarantees developers a minimum price for their electricity once it is generated. However, ballooning costs mean some agreements struck in the past no longer make financial sense.
