Deals & Finance

MHI Vestas Offshore Wind Wins Record Order for 450 MW Project In Germany

Deals & Finance, Europe/Middle East/Africa, Head Lines, Wind

DONG Energy has placed a milestone order with MHI Vestas Offshore Wind for the 450 MW Borkum Riffgrund 2 project in Germany. The record-breaking order is the largest ever for MHI Vestas, demonstrating the strong relationship with DONG Energy. It includes a five-year full-scope service contract with an availability guarantee, ensuring optimised performance of the wind power plant with maximum power output. When completed in early 2019, it will be one of the largest offshore wind power plants in Germany generating enough energy to cover the consumption of 460,000 households.

MHI Vestas Offshore Wind Wins Record Order for 450 MW Project In Germany Read More »

Europe Adds 1.5GW Of Offshore Wind, Up 40%, And Invests Record €18Bn In 2016

Deals & Finance, Energy, Europe/Middle East/Africa

The industry announced a record €18.2 billion of investments in new wind farms to be built in the coming years. This represents a further 4.9 GW of new capacity across five countries, half of it in the UK.

Europe Adds 1.5GW Of Offshore Wind, Up 40%, And Invests Record €18Bn In 2016 Read More »

BNEF – Overall Clean Energy Investment Slows, Yet Wind Surges To Record Levels

Deals & Finance, Head Lines, Region, Solar, Wind

New investment in clean energy worldwide fell 18% last year to $287.5bn, despite a record year for offshore wind, according to latest figures from Bloomberg New Energy Finance. Chinese slowdown and falling costs of solar power were two of the reasons. However, even though overall investment in clean energy was down in 2016, the total capacity installed was not. Estimates from BNEF’s analysis teams are that a record 70GW of solar were added last year, up from 56GW in 2015, plus 56.5GW of wind, down from 63GW but the second-highest figure ever.

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Tata Commissions Solar And Wind Projects, Strengthens Position In India

Deals & Finance, Head Lines, Hydro, Solar, Wind

Speaking on this, Rahul Shah, CEO & Executive Director, Tata Power Renewable Energy Limited, said, “With the commissioning of these 2 projects, TPREL continues to fortify its position of being the largest renewable energy company in the country. Our strategic approach is in line with Tata Power’s aim to expand its clean energy portfolio up to 35-40% by 2025. We are extremely proud of this development and we continue to seek to grow our portfolio in India and in select international markets through organic and inorganic opportunities.”

Tata Commissions Solar And Wind Projects, Strengthens Position In India Read More »

Emerging Uganda: Building Energy Achieves Financial Close For First Solar Plant

Deals & Finance, Europe/Middle East/Africa, Region, Solar

Uganda has one of the lowest electricity consumption per capita in the world, with an average electrification rate of 18.2%. The country’s power sector suffered from a shortage of generating capacity and a lack of reliable and affordable electricity is hindering more sustainable economic growth. In this scenario, the project will also contribute to the socio-economic development of the Tororo area in Eastern Uganda, where it is located. Additionally, it will play a role in terms of employment, thanks to the creation of 250 jobs during the construction phase, and 8 local jobs during the operational one. The solar plant will serve the equivalent of 36,200 people via generation and has an annual avoided GHG rate of 7,400 tCO2eq.USD 19.6 million for the construction of the 10 MW (14GWh/y) Tororo Solar North PV power project which will be ready in about 7 months.

Emerging Uganda: Building Energy Achieves Financial Close For First Solar Plant Read More »

First Belgian Win For Siemens. 309 MW Offshore Wind Project Powering 300K Homes

Deals & Finance, Europe/Middle East/Africa, Head Lines, Wind

Siemens has successfully entered the Belgian offshore wind market with a first order for the 309MW Rentel wind project. The customer is Rentel NV, part of the Otary partnership, a conglomerate of leading specialists from the Belgian renewable energy industry including investment and development companies. Siemens will supply, install, commission and service 42 wind turbines of the large direct drive platform. The output of the power plant will be sufficient to supply over 300,000 households in Belgium with clean power.

First Belgian Win For Siemens. 309 MW Offshore Wind Project Powering 300K Homes Read More »

Belgium’s Largest Offshore Wind Park Selects Wind Turbines From Vestas

Deals & Finance, Energy, Europe/Middle East/Africa, Head Lines, Wind

MHI Vestas Offshore Wind was awarded the firm & unconditional contract for the 370 MW Norther offshore wind power plant in Belgium. The project is owned by Norther N.V. a JV between Elicio and Boreas (Eneco & Mitsubishi Corporation). and will be developed with the three sponsors Elicio N.V. (50%), Eneco (25%) and Mitsubishi Corporation (25%). Norther is located off the coast of Zeebrugge and is able to produce clean energy for 400,000 Belgian households, contributing significantly to Belgium meeting its target of generating 13% of its energy from renewable sources by 2020.

Belgium’s Largest Offshore Wind Park Selects Wind Turbines From Vestas Read More »

DEWA Reaches Financial Closure For 2,400MW Hassyan Clean Coal Power Project

Carbon, Deals & Finance, Energy, Europe/Middle East/Africa, Policy

Dubai Electricity and Water Authority (DEWA) has reached financial closure for the 2,400MW Hassyan clean coal power project. Last June, DEWA signed the PPA, Shareholders Agreement (SHA), and other project agreements with the consortium led by ACWA Power. Total investment of the project is USD 3.4 billion through Hassyan Energy Company, which is a joint-venture between DEWA (51%) and a consortium comprising ACWA Power, Harbin Electric, and the Silk Road Fund (49%). The project consists of four 600MW net power units. They will be operational in March 2020, March 2021, March 2022, and March 2023 respectively.

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Kyocera, Mitsubishi, Tokyo Century And Yonden Complete 14.5 MW PV Plant In Japan

Asia Pacific, Deals & Finance, Energy, Head Lines

Takacho Yasudago Mega Solar Hatsuden LLC, an enterprise jointly established in October 2014 by Kyocera Corporation, Mitsubishi Research Institute, Inc., Tokyo Century Corporation and Yonden Engineering Company, has announced the completion of a 14.5 MW solar power plant in Hyogo Prefecture, Japan. The project has significant local community engagement as it seeks to revitalise it and the installation, which began operation on November 2, generates an estimated 16,060 MWh per year — enough to power 5,000 typical households.

Kyocera, Mitsubishi, Tokyo Century And Yonden Complete 14.5 MW PV Plant In Japan Read More »

Nigeria: Northern Governors, GE Sign MOU For 500 MW 5 Solar Power Plants Project

Carbon, Deals & Finance, Europe/Middle East/Africa

General Electric is to build five solar power plants in Nigeria; to be located in Borno, Kebbi, Nassarawa, Niger and Taraba States which each of the plants expected to generate 100 megawatts of electricity totaling 500 megawatts across the 5 States. The electricity is meant to stimulate economic activities and social services in the affected States through boosting agricultural food processing, small scale businesses in addition to supplying electricity to schools and hospitals.

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