Engie Gets Green Light for Offshore Wind Projects in France
French energy group Engie said on Tuesday it has received clearance for its grounded 500 MW gigawatt capacity offshore Yeu and Noirmoutier wind projects.Engie said the 2 billion euro ($2.27 billion) projects, which it is developing with renewables company EDPR, and a unit of French public sector lender Caisse des Depots, will proceed with the calls to tender after it obtained the final authorization from the government on Monday.A spokesman said the wind farms are expected to be operational by 2021.The farms are in an 83 square kilometers zone, and
UBS, Caisse des Depots Sell Norway's Offshore Gas Pipeline Stake
The owners of Norwegian gas pipeline investor Njord Gas Infrastructure have sold all their shares in the company to Norway's CapeOmega Holding AS for an undisclosed sum, Njord said on Monday. Njord Gas Infrastructure holds an 8 percent stake in the Gassled venture, which owns most of the offshore gas pipeline system used to transport Norwegian gas to customers in Britain and continental Europe. The shares were sold by Swiss bank UBS and France's Caisse des Depots…
EDF secures Finance Ahead of Hinkley Point Decision
French utility EDF has secured a new government-backed multi billion-euro financing package ahead of making the final investment decision on its Hinkley Point nuclear power plant project in Britain. Without mentioning the 18 billion-pound (23 billion euros) British project, EDF said on Friday that following a review of long-term financing requirements, its board had decided to issue 4 billion euros worth of shares "by the closure of the 2016 accounts". In addition, it said it will offer to pay dividends on 2016 and 2017 profits in shares.
EDF Chief's Gambit Suggests Will Get Backing for Hinkley Point
An apparent ultimatum from the chief executive of EDF suggests he is confident that the French government will provide the additional financial support he wants for a plan to build nuclear reactors in Britain. In a letter to staff last Friday, Chief Executive Jean-Bernard Levy warned he would not go ahead with the 18 billion pound ($25 billion) Hinkley Point project in southwest England without more help from the state. His comments came just days after the shock resignation of his chief financial officer over the project…
Norway wins $1.8 bln Pipeline Row
Gassled partners have six weeks to decide on appeal. An Oslo court ruled on Friday in favour of Norway in a lawsuit involving a group of international investors who argued that Norway's decision to cut natural gas pipeline tariffs would cost them 15 billion crowns ($1.8 billion) in lost earnings by 2028. Challenging Norway's reputation as a predictable place to do business, four firms owned by funds including Allianz, UBS, the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board…
