A consortium has pledged £500million worth of backing for a £2billion wind farm planned for the outer Forth Estuary, bringing the construction phase a step closer, the company behind the project said yesterday.
Mainstream Renewable Power is now in a stronger position to meet the March 26 deadline for achieving financial close, though a judicial review continues to cast doubt on the scheme.
The Neart na Gaoithe (NNG) wind farm would bring huge economic gains to Scotland. More than £540million will be spent in Scotland during the construction phase, with 500 jobs created.
Researchers are developing software to dramatically cut maintenance costs for offshore wind turbines.
With tough North Sea conditions, a large percentage of lifetime outgoings for offshore windfarms are associated with maintenance.
UK Green Investment Bank has joined Siemens Financial Services, Macquarie Capital and project developer RWE Innogy as 25% joint equity partners in the £1.5billion Galloper offshore windfarm.
Europe’s largest producer of renewable energy is pressing ahead with the development of an onshore wind project in Scotland.
Statkraft is working on the Andershaw windfarm in South Lanarkshire following the successful construction of the 36MW Berry Burn windfarm.
Construction of Andershaw is expected to begin later this month starting with work to construct the roads, turbines bases and substation.
Scotland is taking the lead in Britain as it forges ahead with deploying onshore wind, according to new findings by Renewable UK.
The report “Wind Energy in the UK” says although England is missing out on some of the economic benefits of onshore wind it is trailblazing ahead in the offshore wind sector.
More than 60% of UK onshore wind projects are now installed and operational in Scotland generating an annual turnover of £211million.
The overall turnover for the UK as a whole was £402million – with Scotland bringing in more than half of that revenue.
New research has shown for the first time that recent announcements from Whitehall are having a significant impact on investor confidence and their ability to lend to onshore wind farm developers.
Green-energy body Scottish Renewables (SR) is today publishing survey findings it says shows for the first time how UK Government policy is scaring off potential windfarm investors.
Renewable energy consultancy SgurrEnergy has been appointed by utility firm Huaneng Renewables Corp Ltd to assess the general site conditions of offshore wind projects in China.
Briggs Marine has won an eight year contract from DONG Energy for contingency and repair of export and array cables for offshore windfarms in the UK and Northern Europe.
The deal will cover nine sites in Britain, five in Denmark and four in Germany.
Briggs has formed a strong relationship with DONG Energy since last year when it provided interim repair capability for their UK windfarms.
Earlier in the week Amber Rudd gave a parliamentary speech on the controversial curtailment of onshore wind subsidies, but at the same time gave some positive signals on future prospects for UK offshore wind.
Full power output has been achieved at the Westermost Rough offshore windfarm, a major renewable energy project located off the UK's east coast.
Westermost Rough is capable of generating up to 210 megawatts (MW) of electricity – enough to meet the annual electricity demands of well over 150,000 UK homes.
It is the first offshore windfarm to make commercial use of the Siemens 6MW wind turbine, with each of the 35 turbines in use taller than the Humber suspension bridge, the towers of which are 156m in height.
In the week before the general election on May 8, a “weel kent” and highly respected financial newspaper reported that our friends in Norway have earned more in the last quarter from their “oil fund” than the Norwegian government had actually spent.
By any measure this is an astounding achievement and is testament to the Norwegian’s intelligent and strategic decision to set up the fund in the first place.
Interestingly though, this event wasn’t to my knowledge reported elsewhere in the media and it certainly didn’t make it on to the mainstream television news.
Perhaps though, that’s not surprising because, of course, although it may not be repeatable every quarter, it would have reflected very badly on all those unionist politicians who have worked so hard over the past few decades to deny Scotland the financial security that Norway has now so brilliantly achieved.
More than £460 million has been raised for the world’s first dedicated offshore wind fund to invest in wind farms off the UK’s coasts.
The UK Green Investment Bank said £463 million in capital had been committed by investors including UK pension funds and a sovereign wealth fund in the first stage of fundraising for a planned £1 billion fund to invest in offshore wind farms.
The Government-backed bank is also investing £200 million in the fund, which is managed by its subsidiary the UK Green Investment Bank Financial Services Ltd, and said that with fundraising continuing it expected to meet the £1 billion target.
It has transferred its investments in two existing offshore wind farms into the fund, which will give investors an immediate cash yield.
An offshore wind project which could support up to 900 jobs and millions of pounds of investment has been given the go-ahead.
The Dogger Bank Creyke Beck A and B wind project will include up to 400 wind turbines around 130 kilometre off the coast of the East Riding of Yorkshire.
With a maximum capacity of 2400MW it will generate enough electricity to power almost two million homes once built.
The Supreme Court will deliver its verdict on a controversial windfarm on Shetland on Monday.
Sustainable Shetland is fighting a decision by Scottish Ministers to approve the 103 turbine Viking windfarm.
The long-running legal wrangle began when Sustainable Shetland brought a judicial review against the Scottish government’s decision in April 2012 to grant consent for the windfarm, which is jointly-owned by Shetland Charitable Trust, Scottish Southern Energy and four local businessmen.
The coalition’s industrial strategy is little more than “economic tinkering“ that will fail to tackle the trade deficit, according to a report.
Vince Cable’s plans lack ambition and will not tackle the structural problems in Britain’s economy, think tank Civitas claimed.
It accused the Business Secretary of setting objectives that are too easy to achieve and failing to address the problems that need to be solved to make Britain’s recovery export-led.
New UK Energy Minister Michael Fallon said yesterday the government was determined to break away from the revolving-door policy that has given the north-east 14 energy ministers in 16 years.
Westhill-based subsea firm ROVOP said it had made a strong start to 2013 by picking up £3.5million of contracts in January and expanding its management team.
There has been a lot of good news from the North Sea oil and gas industry over the last few weeks, notably the announcement of over £5billion investments in the Mariner and Western Isles oilfields.
