Business & Finance
EU Clears Germany’s Renewable Energy Auctions Scheme
The European Commission has found amendments to the German Law on support to the production of renewable electricity (EEG 2017), which stipulate that support will mainly be granted through competitive auctions and not through feed-in tariffs from 2017 onward, to be in line with EU state aid rules. T
Top News of the Week, 12 – 18 December 2016
Oil & Gas Giant to Build Dutch Borssele III & IV Offshore Wind Farms The Dutch government announced that a consortium of Shell, Van Oord, Eneco and Mitsubishi / DGE won the second Borssele tender. Following the announcement, the consortium revealed that the preferred supplier for the wind turbines i
E.ON Names New CFO
At its meeting today, the E.ON Supervisory Board appointed Marc Spieker member of the Board of Management and future Chief Financial Officer (CFO) of E.ON SE. He will join the Board on January 1, 2017 and take over the CFO position on April 1 from Michael Sen, who will then leave the company. Marc S
ITOCHU Buys PKA’s 22.5% Stake in Butendiek OWF for DKK 1 Billion
Danish pension fund administrator PKA has sold its stake in German Butendiek offshore wind farm to a consortium led by ITOCHU, the second-largest Japanese sogo shosha after Mitsubishi Corporation, for DKK 1 billion (approx. EUR 134.5 million). The sale is still subject to competition authority appro
Shell to Buy All Egmond aan Zee OWF Power
Shell Energy Europe has entered into an offtake agreement for 100% of the power generated from the Egmond aan Zee offshore wind farm, the Netherlands’ first large-scale offshore wind farm, in which Shell holds a 50% stake. The wind farm, which began operations in 2006, is operated by NoordzeeWind, a
New York Auction Resumes Today; 3 Bidders Still In After Price Climbs to USD 25.5M
After 10 hours of bidding, 27 rounds completed, and the lease price reaching USD 25.5 million, three currently undisclosed parties will continue competing to build an offshore wind farm off New York this afternoon, after BOEM called it a day at 18:30 EST/ 00:30 CET last night. So far, BOEM has award
GreenSpur’s Vision Spurred with GBP 50K from SCORE Fund
GreenSpur Renewables has been awarded GBP 50,000 from the GBP 6 million SCORE fund, to move towards putting its low cost direct drive permanent magnet generator (DD-PMG) to test at the 10MW+ level by the early 2020s. The company’s technology is using ferrites to create the magnetic field instead of
Trump Picks Former TX Gov. to Head Energy Department, Mixed Response from RE Sector
US President-elect Donald J. Trump yesterday announced his intent to name former Texas Governor Rick Perry as Secretary of the U.S. Department of Energy (DOE), which resulted in mixed response from the renewable energy sector. Some have voiced their concerns about Rick Perry heading the DOE and thus
Mitsubishi, Eneco Team Up to Build Belgian Norther OWF
Mitsubishi Corporation and Eneco have reached an agreement to establish a new fifty-fifty joint venture that will invest in Belgian Norther offshore wind farm. The news comes after the two companies won the Dutch Borssele III & IV tender as part of a consortium also comprising Van Oord and Shell. Th
Shell Takes Another Wind Energy Step, Invests in Kite Power Systems
Shell’s corporate venturing arm Shell Technology Ventures (STV), E.ON and Schlumberger have invested approx. EUR 6 million in Kite Power Systems (KPS), a UK start-up company developing high-altitude wind power generation technology. The investment will be used for technical and commercial developmen
Boskalis Further Cuts Stake in Fugro
After the last week’s announcement that Royal Boskalis Westminster reduced its holding in Fugro to 24.9%, the Dutch dredging, maritime and offshore company informed this morning that it further cut its stake in Fugro to 9.38%. Peter Berdowski, CEO Boskalis: “During the presentation of the half year
France Starts Competitive Dialogue on Dunkirk Offshore Wind
French Ministry of Environment, Energy and the Sea has started the so-called ”competitive dialogue” procedure to select potential developers and define an area best suited for development of offshore wind farms off Dunkirk. Dunkirk is part of France’s third round of tenders for the development of of
Dutch Plan Subsidy-Free Offshore Wind Farms from 2026 Onward
With continuous cost reduction, as well as stimulation of innovation and competition, the Dutch government aims at holding the first tender for an offshore wind farm that will not be subsidised in 2026. The information emerged as part of the Energy Agenda, issued by the Dutch Ministry of Economic Af
EWE, Trianel Reach Preliminary Investment Decision for TWB II
EWE AG and Trianel have made a preliminary investment decision and agreed to jointly bring the Trianel Wind Farm Borkum II (TWB II) offshore wind farm to realisation with each having a 37.5% stake in the project. For the remaining 25% of the project, talks are currently being held with interested th