Business & Finance
Italy: Prysmian Adjusted EBITDA Drops to EUR 282 Million
The Board of Directors of Prysmian S.p.A. has approved the Group’s consolidated results for the first half of 2013. “The Group’s half-year results show signs of improvement from the second quarter. In fact, in the second quarter 2013 both sales and profitability increased on the first quarter 2013,
Canada: Fundy Tidal Seeks to Raise CAD 3 Million from Local Community
Fundy Tidal Inc. (Fundy Tidal) seeks to issue a maximum of $3 million dollars in shares through the Province’s Community Economic Development Investment Fund (CEDIF) program. The investment is RRSP eligible and is only available to Nova Scotia residents who are 19 years of age or older. Fundy Tidal
Northland Secures Right to Acquire Majority Equity Stake in Gemini OWF
Northland Power Inc. (“Northland”) announced it has entered into agreements for the rights to acquire a majority equity stake in Gemini, a 600MW offshore wind project currently in advanced development. Gemini is located 85 kilometres off the coast of the Netherlands in the North Sea, which combines
UAE: Lamprell Releases Update on Debt Facilities
Lamprell, a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, announced that, further to its announcement on 19 July 2013, the Group has satisfied the conditions for utilisation on its new banking facilities an
The Netherlands: IK to Partner with Ampelmann
Funds managed by IK Investment Partners (“IK”) are to acquire a majority stake in Ampelmann, a Dutch-based leading supplier of Motion Compensated Gangway (MCG) systems to the offshore energy sector, from its founders. Financial details for the transaction were not disclosed. Headquartered in Delft,
ScottishPower to Decide on Three East Anglian Ports by Year’s End
ScottishPower said they will announce decision on how they will use three East Anglian ports for offshore wind development by the end of the year, reports EDP 24 news portal. The company is considering three ports Great Yarmouth, Lowestoft, and Harwich. It is yet to be decided if the company is goin
Switzerland: Renewables to Triple Insurance Spending by 2020
The renewable energy industry could be spending three times as much on insurance every year by 2020 to mitigate risks to projects, says a new report by Bloomberg New Energy Finance sponsored by Swiss Re. The report looked at six of the world’s leading markets for solar and wind, including Australia,
Carnegie Receives Payment from Australian Federal Government
Wave energy developer Carnegie Wave Energy Limited announced the receipt of $852,511 from the Australian Government for the completion of Milestone 2 of the Perth Wave Energy Project. Milestone 2 involved the completion of the detailed design and approvals for the Perth Wave Energy Project. This is
UK: SSE Publishes Interim Management Statement
SSE plc will today hold its Annual General Meeting in Perth. The Interim Management Statement summarises SSE’s performance since the start of the current financial year on 1 April 2013, and includes updates on operations and investments in SSE’s Networks, Retail and Wholesale businesses. As previous
EIB Reinforces Support for Renewable Energy Investment
The European Investment Bank has adopted new guidelines to reinforce support for investment in renewable energy, energy efficiency and energy grids. Over the last 10 months the EU Bank has undertaken a comprehensive review to ensure that its energy lending criteria reflect EU energy and climate poli
Spain: IBERDROLA Reports Stable EBITDA of EUR 4,051 Million
IBERDROLA recorded net earnings of €1,728 million in the first half of 2013, down 2% on the same period last year. Gross operating profit (Ebitda) held at levels similar to last year, standing at €4,051 million, a slight decline of 0.9%. Gross margin improved 5.8% to €6,676.4 million, with increases
Sweden: Vattenfall Splits into Two Units
Vattenfall splits up its organisation into a Nordic unit and a continental European unit. This is one of several measures taken in response to developments in the European energy market. Vattenfall is also writing down SEK 29.7 billion of the value of the company’s assets as a consequence of market
UK: Rhyl Harbour Benefits from Gwynt y Môr Offshore Wind Fund
RWE npower renewables’ has made a substantial funding award to the redevelopment of Rhyl Harbour, thanks to the Gwynt y Môr Offshore Wind Farm Tourism Fund. This is the third award announced so far from the specialist £690,000 fund, which was set up through the wind farm to support initiatives aimin
Iberdrola and Port of Sassnitz Sign Land Use Agreement for Wikinger OWF (Germany)
Iberdrola, represented by its subsidiary Iberdrola Renovables Offshore Deutschland GmbH in Berlin, and the Port of Sassnitz GmbH have signed an agreement on land use today. This agreement entails the utilization of the Offshore-Terminal South in Sassnitz-Mukran, which will be used for storage and pr