BP sells its US Onshore Wind Business
BP announced Monday that it plans to sell the U.S. Onshore Wind Energy business. The assets did not align with its growth plan. BP has announced that it will soon begin the process of selling its wind assets. bp Wind Energy is a company with interests in ten operating onshore wind power assets spread across seven U.S. States. William Lin, BP’s executive vice-president for gas and low-carbon energy, said in a press release that he believed the business would be more valuable to another owner. In the last year, several offshore wind companies have canceled or attempted to renegotiate contracts for power projects planned in the U.S.…
Scatec secures power sale deal for Egypt's hybrid solar and battery project
Scatec, a Norwegian renewable energy developer, announced on Thursday that it had signed a power purchase agreement with Egyptian Electricity Transmission Company for 25 years. The project is Egypt's first hybrid power system combining solar and battery storage. Scatec announced that it had signed a 25-year PPA in U.S. dollars with EETC to build a solar power plant of 1 gigawatt and a battery storage system (BESS) of 100 megawatts. The company has not disclosed the value of the contract. In a press release, CEO Terje Pilskog stated that this project would be the first hybrid battery and solar energy project in Egypt.
Megaton Project: Denmark's GreenGo to Build 4 GW Green Fuel Plant
Danish renewable energy developer GreenGo Energy said on Tuesday that it's cooperating on 60 billion Danish crowns ($8.77 billion) project to develop a green energy park.The company is cooperating with a local municipality in western Denmark to develop 4 gigawatt (GW) of solar and wind energy for green fuel production, helping to cut emissions, it said. The "Megaton" project is based in the Ringkobing-Skjern municipality, it said in a statement. Megaton could be operational before 2030, and aims to produce 1 million tonnes of green fuel, such as hydrogen, by converting renewable energy through electrolysis.
Sustainable Marine Preps to Feed Tidal Energy into Nova Scotia Grid
Sustainable Marine is poised to push the button and feed zero emission electricity generated from the tidal flows in the Bay of Fundy into the Nova Scotia grid, an achievement that follows several months of intense activity in the Bay of Fundy by Sustainable Marine’s Canadian, British and German team, supported by an international network of supply chain partners.After laying a 1km underwater cable in late January, the firm subsequently connected its PLAT-I 6.4 tidal energy system to a purpose-built substation, located on the shores of Grand Passage.
Wave Energy Developer Plots Strong Growth Plan in '22, IPO in '23
South Korean wave energy developer INGINE revealed ambitious growth plans for 2022,its10th anniversary.Today the company is approaching a landmark fifth year of wave energy operation in North East Asia, via the Jeju Bukchon Wave Power Plant built in 2015. Additional international projects will see expansion across four continents throughout 2022 and beyond.This includes a Vietnamese and Korean initiative in Quang Ngai province - through a five-party MoU involving Quang Ngai People’s Committee, INGINE, SK Innovation…
RP Global to develop a 1GW solar PV and wind project pipeline in Poland
Renewable energy developer and investor RP Global is working on a pipeline of projects in Poland to deliver more than 1,000 MW in the next two to four years. The first projects to be commissioned from this pipeline by mid-2022 include five Solar PV parks totalling approximately 180 MW, located in different regions of Poland.RP Global has been present in Poland for over 15 years, having developed and built five wind farms in the country. The company owns and operates two wind farm summing 104 MW as part of a 50:50 joint venture with the Marguerite Fund…
Offshore Oil Firm Eco Atlantic Launches Renewables Division
Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar energy-focused company Eco Atlantic Renewables, citing, in part, a lack of oil and gas acquisition opportunities.Formed with Nepcoe Capital Partners Ltd. ("Nepcoe"), a renewable energy developer and investment company, the aim of Eco Atlantic Renewables is to source, acquire and develop an exclusive pipeline of potential high yield solar projects. Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic") owns 70% of Eco Atlantic Renewables and the remaining 30% is owned by Nepcoe."Investment into renewables…
Faroe Islands: Minesto Installs Foundation for Tidal Kite System
Tidal energy developer Minesto has completed the first offshore installation phase of its tidal energy project in the Faroe Islands, as the gravity-based foundation for the powerplant has been installed at the site in Vestmannasund.David Collier, COO at Minesto said: “We are very pleased to have the first sub-sea hardware in place. The operations team has managed to safely progress the offshore installation campaign, adapting the plan to overcome both unfavorable weather conditions and logistical challenges related to the ongoing pandemic”…
Minesto Gets OK for Tidal Kite Installation in Faroe Islands
Marine energy developer Minesto has said it been granted all necessary permits and consents for the installation of two grid-connected tidal kite systems in Vestmannasund, Faroe Islands.The granted permits and consents cover two DG100 tidal kite systems which will be installed in Vestmannasund in a collaboration between Minesto and the Faroese electric utility company SEV. Minesto has been granted public funding totaling approx. €3.5 million through the EU's EIC Accelerator and the Swedish Energy Agency for the…
Tidal Power Firm gets Funding from Scottish Gov't
Tidal energy developer MeyGen Ltd has been awarded a £1.545 million grant from the Scottish Government's Saltire Tidal Energy Challenge Fund.The proceeds will be used to develop a subsea tidal turbine connection hub for the next phase of development of the MeyGen tidal power array, the world's largest tidal stream power project, SIMEC Atlantis Energy, the parent company of MeyGen Ltd. said.The MeyGen Phase 1A, located off the northern tip of Scotland, formally entered the 25-year operations phase in April 2018.The…
Minesto Boosts Taiwanese Presence
Swedish marine energy developer Minesto AB has renewed the collaboration agreement with National Taiwan Ocean University (NTOU) to explore the potential for Minesto’s Deep Green technology in Taiwan.The renewed collaboration agreement with NTOU's Center for Ocean Energy System (COES) was signed at a ceremony in Taipei by Minesto’s CEO Dr Martin Edlund and Professor Chen-Chou Lin, Director of COES.The collaboration between Minesto and COES builds on a phase-staged approach to go from a joint demonstration project at a test site in Keelung to full-scale ocean deployment of Minesto’s Deep Green technology in Taiwan.
Partners Group invests in Greenlink
Private markets investor Partners Group has provided equity financing for the 500-MW Greenlink interconnector, the subsea connection between Wales and Ireland in exchange for a stake in the scheme.To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain…
Magallanes Installs Turbine at EMEC
Spanish tidal energy developer Magallanes Renovables is testing its tidal technology on a test site at the European Marine Energy Centre (EMEC) in Orkney, Scotland.The successful installation of their second generation (2G) 2MW tidal platform ‘ATIR’ took place on 16th February and marks a major milestone in the Ocean_2G project, which aims to test, validate and pre-certify Magallanes’ device, said a release from EMEC.The ATIR was built and launched in Vigo, Spain in 2017, where it underwent a structured test programme to optimise the system…
Petronas Sets Up Team for Renewables Push
Malaysian state-owned oil and gas firm Petroliam Nasional Berhad, or Petronas, has set up a new business within the group to make a push into renewable energy, the head of the new venture said on Tuesday.Petronas has expressed interest over the last year to diversify into renewables amid low oil prices. In March, Chief Executive Wan Zulkiflee Wan Ariffin said Petronas will explore new business areas including new energy and that the company will assess opportunities in solar power.Jay Mariyappan told an industry…
Lightsource BP Expands US Portfolio
Lightsource BP, Europe's biggest solar energy developer, will expand its U.S. portfolio after signing a deal to build two solar projects, the UK-based company said on Wednesday.The 16 megawatt (MW) Wildflower Solar project will be built in California and has secured a 20 year plus power purchase agreement (PPA) with California’s Sacramento Municipal Utility District.Lightsource BP will also develop a 9 MW solar project in New Mexico which has a PPA with New Mexico's Continental Divide Electric Cooperative.No financial details were released.Both projects will be constructed and completed in 2019…
NRCAN Grant Triggers Major Investment in the Bay of Fundy
The next wave of tidal energy development at the FORCE facility in the Bay of Fundy Nova Scotia has been triggered by a substantial grant of $29,750,000 under the Emerging Renewable Power Program (ERPP) from Natural Resources Canada (NRCan).European based renewable energy developer DP Energy is managing two berths in the Bay of Fundy through its Canadian registered company, Halagonia Tidal Energy Limited. It intends to develop both berths together as a single project under the banner Uisce Tapa (pronounced Ish ka Ta Pa) which means fast running water in Gaelic.
Suzlon Energy Wins Approval to Build Wind Farm in Bosnia
The Bosnian unit of Indian renewable energy developer Suzlon Energy on Wednesday won the right to build a 25.2 megawatt (MW) wind farm in Bosnia to help it cut greenhouse gas emissions and meet the EU renewable energy standards.The concession was awarded for a period of 30 years with a possibility to extend it.The wind farm, consisting of 12 turbines with 2.1 MW capacity each, will be built in Hadzici, a suburb of the Bosnian capital Sarajevo.
Amarenco Acquires Renewable Energy Developer Groupe Carré
Amarenco, an independent power producer based in Ireland, has announced its acquisition of Groupe Carré, a renewable energy project developers active in France. This acquisition supports Amarenco’s strategic objectives and strengthens its position in France’s promising wind and solar energy markets. Operating under the brand name Amarenco France, the new entity has the depth of skills, experience and financial girth to quickly become one of the main vertically integrated IPPs active in the country. Over the last few years…
French Wind Power Sector to Consolidate Further -EDF
France's wind power generation sector will consolidate further, the head EDF's renewables unit Antoine Cahuzac said on Wednesday as the company moves to complete the takeover of wind energy developer Futuren . The renewables subsidiary of the French state-controlled utility has acquired 67.2 percent of Futuren, and will on Thursday launch a public offer for the remaining shares in a deal worth 320 million euros ($363 million). "The consolidation will not end here," Cahuzac, Chief Executive of EDF Energies Nouvelles, told reporters.
SunEdison Delays Filing Q2 Results
Bankrupt solar company SunEdison Inc on Friday joined its "yieldcos" in delaying earnings report for the second-quarter ended June 30. SunEdison is yet to file its 2015 annual repot, as well as its first-quarter report, after the company identified "material weaknesses" in its financial reporting, primarily related to problems with a newly implemented IT system. The company said the Chapter 11 bankruptcy filing also contributed to the delay. Once the fastest-growing U.S. renewable energy developer, SunEdison filed for bankruptcy in April.
