Business & Finance
REpower Secures Syndicated Loan of EUR 750 Million
REpower Systems SE yesterday signed an agreement with a consortium of banks headed by BayernLB, Commerzbank Aktiengesellschaft and Deutsche Bank AG for a syndicated loan of EUR 750.0 million. This move enables REpower to secure follow-on financing early for the credit facilities of EUR 600.0 million
Germany: Brancor, HYSSING Postpone First Payment for Gode Wind II
The wind farm project developer, PNE WIND AG, has not received the first payment from the sale of the “Gode Wind II” offshore wind farm project which was originally scheduled for the 29th February 2012. PNE WIND AG now expects this payment on 23rd March 2012 together with the second installment from
Idermar Appoints Narec to Advise Them on UK Market Entry
Leading UK Renewable Energy Finance and Insurance Company Narec Capital, has been appointed by Idermar, developer of Europe’s leading Offshore Wind Meteorology Platform technology, to advise on finance, insurance and UK market entry. Both partners announced their plans at the UKTI sponsored Offshore
UK: OPT Appoints New Managing Director
Ocean Power Technologies, Inc., a leading wave energy technology company, today announced the appointment of Timothy Stiven as Managing Director of Ocean Power Technologies Limited, the Company’s UK-based wholly-owned subsidiary, effective March 1, 2012. He succeeds Angus Norman, who is stepping dow
China: First Arbitration Hearing for AMSC
On Friday AMSC had its first arbitration hearing with the Beijing Arbitration Commission. AMSC is seeking $70 million for past product shipments and is seeking enforcement of its contracts with Sinovel Wind Group Co., Ltd (Sinovel), which are valued at approximately $700 million. In addition to arbi
USA: Cambridge International Attends Clean Energy Forum
Director of governmental affairs for Cambridge International, Dion Banks, represented the company at a State of the Union Roundtable hosted by the White House, the Department of the Interior and the Bureau of Ocean Energy Management (BOEM). The roundtable, conducted by BOEM Director Tommy Beaudreau,
USA: Northwest Energy Angels Invests in Columbia Power Technology
The Northwest Energy Angels, the Pacific Northwest’s only angel group focused exclusively on providing early-stage capital to cleantech entrepreneurs, continued its mission of building a vibrant cleantech community in 2011 by investing more than $880,000 in nine cleantech companies, one receiving a
Norway: Aibel Opens New Centre for Integrated Operations
Aibel has opened a centre for integrated operations at its Stavanger headquarters. Ten Aibel offices in Norway and internationally will from now on collaborate daily with the help of advanced technology. In the new centre, employees from all ten offices can gather for the same videoconference, as de
Scotland and England Strive to Create Hub for Offshore Wind Industry
Scotland and England are competing to create hub for $52 billion offshore wind industry. Leith, the port area of the Scottish capital, Edinburgh, and the northeast English coastal town of Hartlepool are striving for an investment worth 150 million-pound ($237 million) from a Spanish wind-turbine mak
Spain: Gamesa’s EBIT Up 10 pct
Gamesa fulfilled 2011 guidance in terms of volume, profitability and financial soundness. It also maintained profitable growth, supported by its globalisation strategy (which enables it to leverage growth in emerging markets and diversify market risks) and a rigorous efficiency programme, which led
Croatia Seeks Investors to Build Offshore Wind Farm
Croatia will probably build a 500MW offshore wind farm within the next wave of investments, reports Poslovni, citing Nenad Končar, head of Jadranska Ulaganja. Due to the crisis in the shipbuilding industry, shipyards have turned to the offshore wind energy. The Zagreb-based company is currently doin
Swire Pacific Acquires Seabed AS (Norway)
Swire Pacific Offshore Operations (Pte) Limited (SPO) today announced the acquisition of Seabed AS, based in Bergen, Norway. Seabed AS was founded in 2008 by Mr Hans Martin Gravdal, who has more than 30 years of experience within a wide range of subsea operations. Mr Gravdal and his experienced team
New Budget Proposal, Harwich to Become Wind Port? (UK)
A new budget proposal has increased a chance for Harwich to become a wind port. More than 100 MPs have written to the Prime Minister David Cameron calling for a dramatic cut to the £500 million a year subsidies for onshore wind farms and more influence for the local people to stop them being built.
Ministers Appoint Chair of HIE (UK)
Professor Lorne Crerar has been appointed by Ministers as Chair of Highlands and Islands Enterprise (HIE). Lorne is a founding partner and Chairman of Scottish commercial law firm Harper Macleod LLP, which has offices in Glasgow, Edinburgh and Inverness and has held the part-time Chair of Banking La