Business & Finance
North East England Companies Invest GBP 400 Million to Become Offshore Renewables Hub (UK)
A group of 19* of North East England’s leading energy sector companies, including TAG Energy Solutions, have invested almost £400million to help realise the region’s ambition to become a global hub for offshore renewable energy solutions. The companies have now formed Energi Coast, North East Englan
REpower Publishes Preliminary Results for First Half of Fiscal Year 2011/12 (Germany)
According to initial calculations, REpower Systems SE generated revenues of EUR 626.1 million in the first half of fis-cal year 2011/12 (1 April 2011 – 30 September 2011) – compared to EUR 499.0 million in the same period of the previous year. This corresponds to an increase of more than 25 percent.
Global Energy Group Acquires Nigg Yard (UK)
The purchase, completed in recent days, marks a major step forward for the group’s ambitious plans to develop the 238-acre site, on the Cromarty Firth in the Scottish Highlands, as a modern, multi-user facility serving a range of energy sectors, including oil and gas and renewables. Global, which ha
EUR 9 Billion Fund to Reduce EU Dependency on Offshore Wind Power
Total spending on the plan from 2014 and 2020 would amount to just 0.4 percent of EU annual GDP, but the European Commission said it expected the funds to attract extra public and private money by lowering the risk profile of key infrastructure projects. “Today we are making a down payment for Europ
Statnett Secures EUR 165 Million Loan for Subsea Cable Between Norway and Denmark
The Nordic Investment Bank (NIB) and the Norwegian grid operator Statnett have signed a loan totalling NOK 1,300 million (EUR 165 million) for the partial financing of the new subsea cable between Norway and Denmark and the upgrade of Statnett’s existing cable across the Oslofjord. The 16-year-matur
Round 3 Masterplanner Could Reduce Supply Chain Costs (UK)
Davis Langdon director Peter Sell said yesterday that the UK Round 3 offshore wind programme could achieve significant cost savings… By Declan Lynch (nce) [mappress] Source: nce, October 19, 2011
Germany Reserves USD 130 Billion for Renewable Energy
TGerman Chancellor Angela Merkel announced on 30 May that Germany, the world’s fourth-largest economy and Europe’s biggest, would shutter… by John Daly (oilprice) [mappress] Source: oilprice, October 19, 2011
SeaPower Gen Aims to Raise USD 39 Million for Sea Trails (UK)
SeaPower Gen Ltd., a U.K. maker of tidal current turbines, is talking to industrial partners and wealthy investors about raising 25 million… By Louise Downing (businessweek) [mappress] Source: businessweek, October 18, 2011
Reef Subsea Provides Installation and Trenching Services to Offshore Industries (UK)
Reef Subsea AS announced that its new UK subsidiary, Reef Subsea Power & Umbilical Ltd. – based in North East England – is able to provide subsea installation and trenching services to its clients in both the Offshore Oil & Gas and Renewables markets. The company has just announced an order for a ne
AMSC Introduces New Corporate Identity (USA)
American Superconductor Corporation today announced that it is now doing business as AMSC and introduced a new corporate identity in order to foster strong, sustainable growth. AMSC’s wind and grid offerings are now branded as Windtec Solutions and Gridtec Solutions to better reflect the company’s e
Renewable Energy Generation Limited Announces Preliminary Results (UK)
Renewable Energy Generation Limited, the renewable energy group, today announces its preliminary results for the year ended 30 June 2011. Financial Year Highlights Revenue of £9.8 million (2010: £6.2 million) EBITDA¹ neutral (2010: Loss £0.9 million) Loss after tax and exceptional items from continu
Could Renewable Energy Bankrupt England?
“When people on average earnings start to fall into ‘fuel poverty,’ it is clear that Britain is in the grip of a living standards crisis,”… By Dennis Avery (canadafreepress) [mappress] Source: canadafreepress, October 17, 2011
Iberdrola Issues EUR 600 Million Worth Eurobonds (Spain)
IBERDROLA today placed a €600 million issue of 4-year eurobonds maturing in January 2016, thereby reopening the Spanish market for private debt as conditions improve following the summer volatility. The operation, placed among 300 investors from 15 countries, was well oversubscribed with demand tota
Community in Flintshire to Benefit from Offshore Gwynt y Mor Wind Farm (UK)
COMMUNITY projects in Flintshire will benefit from more than £19m in funding from the offshore Gwynt y Môr wind farm project, based in… by Francesca Elliott (flintshirechronicle) [mappress] Source: flintshirechronicle, October 13, 2011