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Innogy has distributed GBP 1.4 million in Wales in 2018 through community funding from its renewable energy projects.
The Japan-based Nippon Life Insurance has executed a GBP 200 million syndicated loan for the Race Bank offshore wind project in the UK.
The UK-based Aviva Investors has invested GBP 400 million to help fund the construction of Ørsted’s Hornsea Project One offshore wind farm.
The Port of Cromarty Firth has signed a contract with Moray Offshore Windfarm (East) Ltd, the developer of a 950MW offshore wind farm in the Outer Moray Firth, which will use the port as an intermediate one during the project construction.
The UK Department for Business, Energy and Industrial Strategy (BEIS) has issued a draft budget notice amounting to GBP 60 million for the third Contracts for Difference (CfD) round.
The global market for offshore wind array and export cables is forecast to be worth GBP 13.6 billion if all the projects in the international 10-year pipeline come to fruition, according to a report published by RenewableUK.
Ørsted has entered a three-year partnership with Royal National Lifeboat Institution (RNLI) and will make a contribution of more than GBP 200,000 to fund running costs of lifeboats at seven RNLI lifeboat stations across the UK.
Triton Knoll Offshore Wind Farm Ltd. has officially signed a GBP 100 million contract with J Murphy & Sons for onshore work at innogy’s 860MW offshore wind project in the UK.
Scottish government has awarded some GBP 2 million in funding to Carbon Trust’s Offshore Wind Accelerator (OWA), Offshore Renewable Energy (ORE) Catapult and, Energy Skills Partnership to support innovation across the offshore wind sector.
UK-based provider of subsea technology and services to the offshore wind and oil & gas industries, Tekmar Group, will start trading on the AIM market of the London Stock Exchange on 20 June and plans to use the placing proceeds to acquire Tekmar Limited, repay debt within the Group and provide some GBP 10 million to fund future expansion and acquisitions.
The 2017 Contracts for Difference (CfD) will cost UK consumers significantly more relative to the additional capacity secured due to the changes in the auction design which allowed small fuelled-technology projects to raise the strike price of larger projects, National Audit Office (NAO) has found.
Rovco has secured a GBP 1.2 million funding for the launch of its new live 3D subsea survey system, which is said to cut down the cost of underwater inspections and maintenance.
N-Sea informed had secured contracts worth GBP 40 million during Q4 of 2017 and in early Q1 2018 for the coming season.
Offshore renewable energy sector in Europe – including offshore wind, wave and tidal energy industries – could create up to GBP 72 billion of supply chain opportunities in anti-corrosion solutions and the development of new materials by 2050.
SSE informed that it expects its 2017/2018 capital and investment expenditure to be around GBP 1.6 billion, instead of previously anticipated GBP 1.7 billion. From 1 April to 31 December 2017, SSE’s capital spend totalled GBP 1.1 billion and has included, among other things, around GBP 355 million investment in on- and offshore wind.
The Port of Blyth is investing GBP 12 million in terminal infrastructure and the construction of new warehousing, as well as strengthening quays and installing new cranes.
UK’s Offshore Renewable Energy Catapult, China’s Tus-Wind and TusPark Newcastle have signed a collaboration agreement to work together to advance offshore wind technology co-operation between the two nations.
UK fund manager Equitix will buy Statkraft’s 40% stake in the 316.8MW Sheringham Shoal offshore wind farm for GBP 558 million, with the transaction expected to be completed by the end of December.
Ørsted has announced the winners of the first round of its new GBP 75,000 Skills Fund, a part of the company’s GBP 465,000 East Coast Community Fund.