Business & Finance
UK: Offshore Renewables Business Powers Up with Investment Funding
Independent offshore renewables development business, Trident Energy, has secured an investment of £180,000 from the Low Carbon Innovation Fund (LCIF) as part of a total funding package worth more than half a million pounds. The LCIF is managed by green merchant bank Turquoise International and the
Denmark: Vestas Reaches Agreement on Credit Facilities Reached
In July 2012 (ref. company announcement No. 30/2012 of 31 July 2012), Vestas agreed with its lenders to defer the half-year testing of the financial covenants. Following this and during the autumn of 2012, Vestas has conducted a thorough review of the future funding requirements of the company’s new
Canada: Windstream Claims CAD 475 Million for Lost Profit
Windstream Energy LLC has filed a notice of intent to claim CAD 475 million of damages under North American Free Trade Agreement (NAFTA) for lost profit due to the Ontario’s moratorium on offshore wind farms, writes The Star. Last year the Canadian government posed moratorium on offshore wind projec
ScottishPower Renewables to Fund Wind Turbine Technician Training Course Development
ScottishPower Renewables is to help fund courses at Dumfries and Galloway College and Ayr College that will allow students to gain industry recognised qualifications and help them on their way to becoming wind turbine technicians. The company’s funding and support will aid the introduction of course
UK: ROVOP Invests in New Jobs and ROVs
Rapidly growing and award winning energy services firm ROVOP is to create around 60 jobs to accompany the purchase of five remotely operated vehicles (ROVs). The Aberdeen-based subsea specialist will invest around £15million over the next 18 months in the workclass hydraulic machines, supplied by FM
UK: Maritime Craft Services Takes Delivery of 2nd OWSV, Orders Three More
A well-established Scottish maritime company has taken delivery of a second Twin Axe Design offshore wind farm support vessel. MCS Pampero, sister vessel to MCS Sirocco which joined the fleet in June, was handed over to Maritime Craft Services in Singapore and will go straight to work in NW Europe f
Germany: SüdWestStrom Gives Up on BARD Offshore 1 Wind Farm
SüdWestStrom Windpark GmbH &Co. KG is not buying the 400 MW offshore wind farm BARD Offshore 1. Delays in the completion of the wind farm and the modified risk assessment of offshore wind farms have led to a decision that the holding company SüdWestStrom Windpark GmbH &Co. KG and the project company
Germany: Windreich Secures EUR 500 Million for North Sea Wind Farm MEG 1
After a one-year detailed consideration, a confirmation has been given for EUR 500 million to serve for financing Windreich AG’s MEG 1 project. The Deutsch Bank will team up with other banks to approve additional investments of over EUR 1 billion, therefore, just EUR 100 million will be needed for p
UK: Senergy Strengthens Its Management Teams with Two New Appointments
Global leading energy services company Senergy has strengthened its alternative energy and power engineering teams with two senior appointments. The company, which provides fully-integrated project and asset development services across the energy industry, has appointed Dick Hall to the position of
UAE: Lamprell Releases Interim Management Statement
Lamprell, a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, issues its latest Interim Management Statement in accordance with the EU Transparency Directive, which also provides a trading update in light of th
Denmark: Vestas Could Sell Shares to Payout Their Debt
The world’s largest wind turbine maker, Vestas, plans to sell shares to boost its finances. Daniel Patterson, an SEB analyst, said to Bloomberg: “The cash flow guidance is a mess.” Earlier this year, Vestas announced that they will reduce their workforce to about 16,000 from 22,721 as a measure of c
AREVA Signs MoU for Its Factory in Scotland
On the occasion of Mr. Alex Salmond, Scottish First Minister’s, visit to Paris, the AREVA group and Scottish Enterprise, signed a Memorandum of Understanding (MoU) on industrial site development for the manufacture of wind turbines in East Scotland. The MoU is a step towards establishing an AREVA fa
China: Ming Yang Announces Q3 Results
China Ming Yang Wind Power Group Limited (Ming Yang), a leading wind turbine manufacturer in China, has announced its unaudited financial results for the third quarter ended September 30, 2012. Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang commented: “Our financial performance in
UK: Fluor Receives Adverse Decision Regarding Greater Gabbard Offshore Wind Farm
Fluor announced that the company received an adverse decision from an arbitration panel regarding its claims for additional compensation related to the Greater Gabbard Offshore Wind Farm Project. Through its claims, the company sought to recover compensation for schedule and cost impacts arising fro