- Recently launched Cyber Energia warns that UK renewables firms are at risk from up to 1,000 attempted cyber attacks per day
- Scale of cyber risks estimated to be as many as 880 million across UK renewables sector
- Increasing legislation for non-compliance resulting in significant punitive damages
- Unique Cyber Energia portal provides real-time visualisation of attempted cyber attacks
London, UK, March 12, 2024 – Against a background of increasing concern around cyber security threats within the energy sector, Cyber Energia launches a world-first solution to protect renewable companies and their assets.
Born out of CFP Energy, a leading energy transition company, recently incorporated Cyber Energia has called upon its deep energy sector knowledge to develop a unique cyber security portal providing a full 360-degree visibility into renewables operations.
Grid technology and advanced operating procedures have revolutionised how renewable energy firms deliver cleaner, sustainable electric power. At the same time, this has exposed firms to greater potential security breaches.
Cyber Energia’s unique system and portal continuously collects security information across all topologies including all devices and systems on the network; how they communicate with each other; as well as identifying gaps in safeguarding.
Most importantly, the portal provides real-time visualisation of attacks as they are happening, the threat level, revenue at risk, number and type of breaches prevented and remedial recommendations. Additionally, Cyber Energia can provide guidance as to how employees and processes can help address governance, management succession and product development in relation to cyber security.
“To provide an indication of the serious exposure UK renewable firms are facing to cyber threats, our analysis shows that in the wind sector alone, only 1% out of around 11,000 sites has some sort of cyber solution”, said Jonathan Navon, partner, CFP Energy. “With both sustainable and national energy security at the top of many governments’ agenda, this security issue needs to be addressed with some urgency”.
In 2020, renewables comprised 29% of global electricity generation and by 2028, with a further 3,700 GW of new renewable capacity due to come online, it will account for over 42% of the world’s electric power[1]. With almost half of the world’s electricity source susceptible to cyber attack from hostile actors, defence against system violations have never been so mission critical. Cyber Energia’s analysis indicates that there are as many as 880 million cyber risks across the renewables sector, with over 300 attempted security breaches at any one moment and up to 1,000 attacks per day.
“As domain experts in renewable energy operations, we have built our renewables ‘security by design’ cyber protection approach to seamlessly integrate with both new and legacy operations,” said Rafael Narezzi, Chief Technology Officer, Cyber Energia. “Despite being such a young company, we already have over 400 sites in our UK sales pipeline, which is testament to the need for renewables-specific security.”
Consequences of shut-downs caused by cyber attack can range from significant inconvenience to devastating operational impact. Such attacks can result in loss of production and revenue; damage to assets and infrastructure; leakage of sensitive commercial information; health and safety risks, as well as reputational damage.
In the immediate term, however, renewable energy firms which are not sufficiently protected against cyber breaches are increasingly at risk of financial penalties from legislation.
In the UK, operators come under both the NIS Regulations 2018 and the National Security and Investment Act 2021, which not only has powers of inspection, but with monetary penalties up to £17 million for those contravening regulations.
Organisations providing essential services in the European Union (EU) will also soon face considerably tougher cyber security regulation (NIS2.0) for failure for non-compliance, with punitive actions including higher fines, bans on management positions and even a withdrawal of the company’s license to operate.
About Cyber Energia
Cyber Energia was incorporated with a mandate to develop an advanced cyber security system for the renewable energy sector. Cyber Energia’s world-first, cloud-based portal leverages its deep renewables sector knowledge to provide real-time visualisation of cyber security threats, enabling defense against cyber attacks.
For more information, visit www.cyberenergia.com
About CFP Energy
CFP Energy is an award-winning energy transition platform active in environmental markets and energy. Founded in 2006, the firm employs over 230+ people in offices across Europe and the UK. Since inception, the Company has been an active participant both in the European and UK Emissions Trading Schemes, as well as global voluntary carbon markets. CFP Energy provides risk management solutions in the carbon, power, gas and biofuel markets, and is contracted to supply around 13 TWh of energy through Brook Green Supply, its UK energy supply business. The Group focuses on large, energy intensive industrial companies that are seeking to address the challenges and opportunities facing the energy transition.
For more information, visit www.cfp.energy
Media contacts:
Susan Brownlow
CFPEnergy@manifest.group
Tel: + 44 (0) 7739 456292
