Wind

African Renewable Energy Fund Reaches US$200 Million Financial Close

The African Renewable Energy Fund, a dedicated renewable energy fund focused on sub-Saharan Africa, has reached its final close with US$200 million of committed capital to support small- to medium-scale projects, with investment at the final close from European Investment Bank and the Global Energy Efficiency and Renewable Energy Fund, among other investors.

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Southern Power to Acquire 151-MW Wind Farm From Apex

Southern Power has signed an agreement to acquire the 151-megawatt Grant Wind facility in Oklahoma from Apex Clean Energy.
The wind farm is the second that the subsidiary of the Southern Company has in its portfolio. The acquisition is expected to close in March 2016 upon successful completion of project construction. In March, Southern Power announced an agreement to acquire its first wind project – the 299-MW Kay Wind facility in Oklahoma, also from Apex Clean Energy – which is expected to close in the fourth quarter of 2015.

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UK Renewables Suffer Blow From Proposed Cuts in Assistance

In a blow to the renewable energy sector, the UK government is planning to impose massive cuts to a financial assistance program for clean energy projects including wind and solar.
The Department of Energy and Climate Change plans to reduce the so-called feed-in tariffs for wind-energy projects with capacities of between 100 kilowatts and 500kW to 4.52p/ per kilowatt-hour from 10.85p/kWh.

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Mitsubishi Invests in US Airborne Wind Turbine Developer

Japan’s Mitsubishi Heavy Industries and Oman’s Suhail Bahwan Group have invested in Altaeros Energies, a Massachusetts-based technology company, to support the design and production of its airborne wind turbines. The investment amount was not disclosed. Last December, Japanese telco SoftBank Group Corp. said it planned to invest US$7 million in Altaeros.

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