wind farms

Renewable/Other Energy

E.ON to sell Italian hydroelectric plants to ERG for $1bln

07/08/2015

Italian energy group ERG is to buy German utility E.ON's Italian hydroelectric power plants for about 950 million euros ($1 billion), expanding its renewable portfolio which mostly comprises windfarms. E.ON's Terni Hydroelectric Complex, which has 527 megawatts (MW) of generating capacity and produces about 1.4 terawatt hours of electricity a year, was put up for sale in late 2013 along with other assets in the country. ERG currently operates windfarms in Europe with a total capacity of 1.38 gigawatts, including 1.1 gigawatts in Italy, as well as a gas-fired thermal plant in Sicily with a capacity of 480 MW.

Renewable/Other Energy

Scrapping of climate change tax break to cost Infinis £7m

09/07/2015

Green-energy giant Infinis suffered a near 8% slide in the value of its shares after it confirmed the chancellor’s decision to scrap climate change tax breaks for renewables generators will cost it £7million by March. In Wednesday’s Budget, Chancellor George Osborne said the Climate Change Levy (CCL) exemption, which allows businesses not to pay the environmental tax levied on energy if it has come from renewable power, would be removed in August. The move continues the UK Government’s “crusade” to scale back financial support for renewables, which has not been perturbed by the approach of United Nations climate change talks in Paris later this year.

Oil & Gas

Statoil to decide on Scottish floating wind farm in September

07/07/2015

Norway's oil and gas firm Statoil plans to take the final investment decision in September on building a floating wind farm off the coast of Scotland, set to be the first of its kind in the world, a spokesman for the company said on Tuesday. Statoil, which has run a single floating offshore turbine for several years in Norway, is now planning to build five floating turbines, each with 6 megawatt capacity, off Aberdeen in an area where the water depth is around 100 metres. With development areas for foundation-fixed offshore turbines limited to shallow seas with depths up to 50 metres, and with some countries experiencing strong opposition against the visual impact of turbines on the land, floating offshore is seen as the next major growth area for the wind industry.

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