Vineyard Wind and GE Vernova settle legal dispute over New England wind farms
Vineyard Wind, a wind?farm developer in New England, announced on Wednesday that it had'resolved' a legal dispute arising out of turbine supplier GE Vernova’s attempt to walk away from its $4.5 Billion project based on claims it owed it more than $300 M.
Iberdrola's profit for the first half of 2018 increased by 22% due to grid investments in Britain, US and Brazil
Iberdrola, the Spanish utility company, announced on Wednesday that its first-half net profit rose by a whopping?22%. Its increase was attributed to higher investments in electricity networks in Britain and the United States. The company reported that…
GE Vernova's bid to stop work at New England wind farm is rejected again
A Massachusetts judge refused to lift an injunction that 'forced' turbine supplier GE Vernova?to?continue working on the largest offshore wind farm -in New England, or to send their dispute with $4.5 billion project developer Vineyard Wind to arbitration.
Renewables magnate Riquelme launches Real Madrid presidency bid - source
According to a source with knowledge of this matter, Enrique 'Riquelme' informed Real Madrid's Board on Thursday that he intended to run for its presidency. This is the first challenge to Florentino Perez's 'vice-like' grip on the richest soccer team in the world after more than 20 years.
Iberdrola's adjusted first-quarter profits grow 11% thanks to network investments
Iberdrola is Europe's largest utility. It reported a?an increase of?11% in its adjusted net profits to 1.87 billion euro in the first three months due to investments in network, especially in the U.S. More than 300 projects are underway, and the company…
Vineyard Wind sues GE Vernova for preventing it from abandoning its wind farm
Vineyard Wind filed a suit to stop a GE Vernova unit that supplies wind turbines from cancelling agreements and abandoning the work on a $4.5billion offshore wind farm near Massachusetts. Vineyard Wind, a 'joint venture' between Spain's Iberdrola, and Denmark's Copenhagen Infrastructure Partners…
Sources say that Iberdrola has put a $1 billion sale of solar stakes on hold.
According to two people familiar with the matter, Iberdrola is putting on hold for now its attempt to sell a?minority stake in a Spanish solar energy portfolio of about 1 gigawatt. One source said that the Spanish company had decided to investigate the sale of its entire portfolio, known as Project Julieta.
Spanish wind industry warns EU Windfall Tax could harm investment
AEE, the Spanish wind industry association, warned on Monday that a proposed "windfall tax" on profits of energy companies could have a negative impact on investment in renewable energy at a time when Europe is trying to reduce its dependence on fossil fuels.
Iberdrola's earnings are higher after the network business boosts results for 2025
Iberdrola, Europe's largest utility, expects its business of building and updating?power?networks in Britain and America to boost earnings this year, after it drove a 10% increase in 2025 adjusted Net Profit. The Spanish company will benefit from its…
REE, the Spanish power grid operator, defends its planning in advance of a blackout
REE, the Spanish grid operator, defended its plans for a widespread blackout that occurred last year on Tuesday and called the testimony of energy executives before a Senate committee hearing "mere speculations". On April 28, last year, Europe's biggest…
Iberdrola denies grid operator's claim its solar plant caused blackout
Iberdrola's CEO in Spain,?on Thursday, rejected the 'claim' by the head of Spain's power grid operator that mismanagement at a'solar plant' owned by Iberdrola could have led to the massive blackout of April 28, last year. Mario Ruiz Tagle's testimony…
Norway Wealth Fund seeks investment in battery storage as the market matures
Norway's sovereign fund announced on Wednesday that it hopes to make its initial investments in battery storage systems. This reflects the increasing importance of batteries for stabilising increasingly intermittent electricity markets. Since 2021, the $2.2 trillion sovereign fund…
The UK National Wealth Fund has set its sights on carbon capture, batteries, and hydrogen as a way to boost growth
The National Wealth Fund of Britain announced on Wednesday that carbon capture, power grids and battery manufacturing will be among ten'sector' it will concentrate on in the next five-year period to help the relatively sluggish British economy recover.
Eneos, a Japanese company, warns of rising costs in developing offshore wind businesses
Eneos Holdings - Japan's largest oil refiner that has expanded into renewable energy - warned on Wednesday of the rising cost of developing their offshore wind project. Their CEO said returns were difficult. Eneos' Japan Renewable Energy unit won the…
Shell abandons two wind farms off the UK Coast after Strategic Review
Shell announced on Monday that it had abandoned the MarramWind project and the CampionWind project off the coasts of Scotland after a strategic review. Shell announced that it sold its 50% share in MarramWind, to ScottishPower Renewables, and returned the CampionWind Lease to Crown Estate Scotland.
Cox, a Spanish company, plans to invest $6.4 billion in Mexico through 2028.
Cox, a Spanish energy company, announced on Thursday that it will invest 5.5 billion euro ($6.4 billion) through 2028 in renewable energy and water. Almost half of the investment will be in Mexico. Moreno stated on Thursday that up to 80% will be funded by debt, and the remainder with equity.
Cinco Dias reports that Iberdrola is looking to sell 49 percent of the East Anglia Two offshore wind farm.
Cinco Dias, a newspaper in Spain, reported that Iberdrola, the Spanish utility, is looking to sell 49 percent of its East Anglia Two offshore wind farm, estimated at 5 billion euros. Reports said that the company hired Bank of America and BBVA to act as financial advisors in connection with the possible sale.
Iberdrola, Europe's largest utility, to invest $120 billion in grids by 2031
Iberdrola, a Spanish utility company, plans to invest more than 100 billion euro ($117 billion) through 2031. This is part of its move towards a more regulated power grid business in countries like Britain and the United States. The largest utility…
Mitsubishi abandons offshore wind farms in Japan
A senior official in the industry ministry said that Japan wants to re-auction as many offshore wind sites as possible as soon as they can, subject to local community consent. The trading house Mitsubishi Corp announced on Wednesday that it would no…
Mitsubishi is considering abandoning offshore wind energy projects in Japan
Mitsubishi Corp announced on Wednesday that it is considering withdrawing from 3 Japanese offshore wind projects. Three wind farms are owned by Mitsubishi-led consortiums in Japan's Chiba Prefecture and Akita Prefecture. The trading house announced…