Wednesday 16th March 2016

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Richard Heap
March 16, 2016
This content is from our archive. Some formatting or links may be broken.
This content is from our archive. Some formatting or links may be broken.
Wednesday 16th March 2016

UK Budget: Offshore in CfD clarity plea

George Osborne must give clarity on offshore subsidies in today’s Budget as wind is on track to hit targets, RenewableUK has said.

This week, the UK renewables trade body published a report showing that offshore costs are on track to meet a 2020 target of a levelized cost of energy of £100/MWh or less. It said UK chancellor Osborne should give further details about three planned Contracts for Difference auctions to encourage offshore wind development.

Meanwhile, think tank Green Alliance said the UK government should abandon incentives for fossil fuels and use public funds to support renewables. Osborne could make announcements over renewable energy funding in his Budget today.

Greencoat and GLIL in £355m Clyde deal

Clean energy investor Greencoat and two UK pension funds have bought half of SSE’s 350MW Clyde wind farm for £355m.

Greencoat UK Wind now owns a 28.2% stake in the Scottish wind farm, and GMPF & LPFA Infrastructure LLP (GLIL) owns 21.7%. GMPF & LPFA is a joint venture between Greater Manchester Pension Fund and the London Pension Funds Authority.

However, if a planned 173MW extension completes, as it is due
to in June 2017, the equity stake owned by Greencoat and the pension funds would be diluted to 30%. SSE would then hold a 70% stake. This deal is a major part of Greencoat’s plan to expand the fund's portfolio that stood at 301MW at the end of last year.

Thai firm Wind Energy enters Australia…

Wind Energy Holdings has agreed to buy a 50% stake in CWP Renewables’s Australian arm, which is its first overseas deal.

WEH, which is majority-owned by Thai real estate giant KPN Group, has total installed wind capacity of 207MW in Thailand. Upon completion of the deal, WEH would own half of CWP’s 113MW Boco Rock Wind Farm and its 800MW Australian pipeline.

CWP Renewables, which is a joint venture between Continental Wind Partners and the Wind Prospect Group, entered the Australian market in 2007.

…as China’s SPIC makes $225m addition

A major Chinese corporation is set to take its Australian portfolio over 1GW by buying the 107MW Taralga wind farm for $225m.

China’s State Power Investment Corporation has agreed to pay A$300m ($225m) to Spanish bank Santander for the wind farm, located in New South Wales. The project would add to the 900MW wind and hydro portfolio SPIC acquired from Pacific Hydro in a A$3bn ($2.5bn) buyout at the end of January.

SPIC’s acquisition of the Taralga wind farm, which has a ten-year power purchase agreement with Energy Australia, is scheduled to complete in the next two months.

Vattenfall plans 1.8GW Norfolk Vanguard

Vattenfall is working up plans for its 1.8GW Norfolk Vanguard in UK waters as it seeks to submit a planning application next year.

The Swedish utility has agreed with the Crown Estate to take the project, with a target capacity of 1.8GW, into the planning process in 2017. It has also agreed with the Crown Estate to start planning the Norfolk Boreas project, also with a target capacity of 1.8GW, in 2017. Vattenfall is aiming for consent for Norfolk Vanguard in 2019.

Both projects are set to be located in a 7.2GW development zone off the coast of East Anglia. Last summer, Vattenfall and its partner in the zone, ScottishPower Renewables, agreed to split the site between them so that they could each develop separate projects.

Wind Watch

Wind Watch is published every Monday and Friday.

UK Budget: Offshore in CfD clarity plea

George Osborne must give clarity on offshore subsidies in today’s Budget as wind is on track to hit targets, RenewableUK has said.

This week, the UK renewables trade body published a report showing that offshore costs are on track to meet a 2020 target of a levelized cost of energy of £100/MWh or less. It said UK chancellor Osborne should give further details about three planned Contracts for Difference auctions to encourage offshore wind development.

Meanwhile, think tank Green Alliance said the UK government should abandon incentives for fossil fuels and use public funds to support renewables. Osborne could make announcements over renewable energy funding in his Budget today.

Greencoat and GLIL in £355m Clyde deal

Clean energy investor Greencoat and two UK pension funds have bought half of SSE’s 350MW Clyde wind farm for £355m.

Greencoat UK Wind now owns a 28.2% stake in the Scottish wind farm, and GMPF & LPFA Infrastructure LLP (GLIL) owns 21.7%. GMPF & LPFA is a joint venture between Greater Manchester Pension Fund and the London Pension Funds Authority.

However, if a planned 173MW extension completes, as it is due
to in June 2017, the equity stake owned by Greencoat and the pension funds would be diluted to 30%. SSE would then hold a 70% stake. This deal is a major part of Greencoat’s plan to expand the fund's portfolio that stood at 301MW at the end of last year.

Thai firm Wind Energy enters Australia…

Wind Energy Holdings has agreed to buy a 50% stake in CWP Renewables’s Australian arm, which is its first overseas deal.

WEH, which is majority-owned by Thai real estate giant KPN Group, has total installed wind capacity of 207MW in Thailand. Upon completion of the deal, WEH would own half of CWP’s 113MW Boco Rock Wind Farm and its 800MW Australian pipeline.

CWP Renewables, which is a joint venture between Continental Wind Partners and the Wind Prospect Group, entered the Australian market in 2007.

…as China’s SPIC makes $225m addition

A major Chinese corporation is set to take its Australian portfolio over 1GW by buying the 107MW Taralga wind farm for $225m.

China’s State Power Investment Corporation has agreed to pay A$300m ($225m) to Spanish bank Santander for the wind farm, located in New South Wales. The project would add to the 900MW wind and hydro portfolio SPIC acquired from Pacific Hydro in a A$3bn ($2.5bn) buyout at the end of January.

SPIC’s acquisition of the Taralga wind farm, which has a ten-year power purchase agreement with Energy Australia, is scheduled to complete in the next two months.

Vattenfall plans 1.8GW Norfolk Vanguard

Vattenfall is working up plans for its 1.8GW Norfolk Vanguard in UK waters as it seeks to submit a planning application next year.

The Swedish utility has agreed with the Crown Estate to take the project, with a target capacity of 1.8GW, into the planning process in 2017. It has also agreed with the Crown Estate to start planning the Norfolk Boreas project, also with a target capacity of 1.8GW, in 2017. Vattenfall is aiming for consent for Norfolk Vanguard in 2019.

Both projects are set to be located in a 7.2GW development zone off the coast of East Anglia. Last summer, Vattenfall and its partner in the zone, ScottishPower Renewables, agreed to split the site between them so that they could each develop separate projects.

Wind Watch

Wind Watch is published every Monday and Friday.

UK Budget: Offshore in CfD clarity plea

George Osborne must give clarity on offshore subsidies in today’s Budget as wind is on track to hit targets, RenewableUK has said.

This week, the UK renewables trade body published a report showing that offshore costs are on track to meet a 2020 target of a levelized cost of energy of £100/MWh or less. It said UK chancellor Osborne should give further details about three planned Contracts for Difference auctions to encourage offshore wind development.

Meanwhile, think tank Green Alliance said the UK government should abandon incentives for fossil fuels and use public funds to support renewables. Osborne could make announcements over renewable energy funding in his Budget today.

Greencoat and GLIL in £355m Clyde deal

Clean energy investor Greencoat and two UK pension funds have bought half of SSE’s 350MW Clyde wind farm for £355m.

Greencoat UK Wind now owns a 28.2% stake in the Scottish wind farm, and GMPF & LPFA Infrastructure LLP (GLIL) owns 21.7%. GMPF & LPFA is a joint venture between Greater Manchester Pension Fund and the London Pension Funds Authority.

However, if a planned 173MW extension completes, as it is due
to in June 2017, the equity stake owned by Greencoat and the pension funds would be diluted to 30%. SSE would then hold a 70% stake. This deal is a major part of Greencoat’s plan to expand the fund's portfolio that stood at 301MW at the end of last year.

Thai firm Wind Energy enters Australia…

Wind Energy Holdings has agreed to buy a 50% stake in CWP Renewables’s Australian arm, which is its first overseas deal.

WEH, which is majority-owned by Thai real estate giant KPN Group, has total installed wind capacity of 207MW in Thailand. Upon completion of the deal, WEH would own half of CWP’s 113MW Boco Rock Wind Farm and its 800MW Australian pipeline.

CWP Renewables, which is a joint venture between Continental Wind Partners and the Wind Prospect Group, entered the Australian market in 2007.

…as China’s SPIC makes $225m addition

A major Chinese corporation is set to take its Australian portfolio over 1GW by buying the 107MW Taralga wind farm for $225m.

China’s State Power Investment Corporation has agreed to pay A$300m ($225m) to Spanish bank Santander for the wind farm, located in New South Wales. The project would add to the 900MW wind and hydro portfolio SPIC acquired from Pacific Hydro in a A$3bn ($2.5bn) buyout at the end of January.

SPIC’s acquisition of the Taralga wind farm, which has a ten-year power purchase agreement with Energy Australia, is scheduled to complete in the next two months.

Vattenfall plans 1.8GW Norfolk Vanguard

Vattenfall is working up plans for its 1.8GW Norfolk Vanguard in UK waters as it seeks to submit a planning application next year.

The Swedish utility has agreed with the Crown Estate to take the project, with a target capacity of 1.8GW, into the planning process in 2017. It has also agreed with the Crown Estate to start planning the Norfolk Boreas project, also with a target capacity of 1.8GW, in 2017. Vattenfall is aiming for consent for Norfolk Vanguard in 2019.

Both projects are set to be located in a 7.2GW development zone off the coast of East Anglia. Last summer, Vattenfall and its partner in the zone, ScottishPower Renewables, agreed to split the site between them so that they could each develop separate projects.

Wind Watch

Wind Watch is published every Monday and Friday.

UK Budget: Offshore in CfD clarity plea

George Osborne must give clarity on offshore subsidies in today’s Budget as wind is on track to hit targets, RenewableUK has said.

This week, the UK renewables trade body published a report showing that offshore costs are on track to meet a 2020 target of a levelized cost of energy of £100/MWh or less. It said UK chancellor Osborne should give further details about three planned Contracts for Difference auctions to encourage offshore wind development.

Meanwhile, think tank Green Alliance said the UK government should abandon incentives for fossil fuels and use public funds to support renewables. Osborne could make announcements over renewable energy funding in his Budget today.

Greencoat and GLIL in £355m Clyde deal

Clean energy investor Greencoat and two UK pension funds have bought half of SSE’s 350MW Clyde wind farm for £355m.

Greencoat UK Wind now owns a 28.2% stake in the Scottish wind farm, and GMPF & LPFA Infrastructure LLP (GLIL) owns 21.7%. GMPF & LPFA is a joint venture between Greater Manchester Pension Fund and the London Pension Funds Authority.

However, if a planned 173MW extension completes, as it is due
to in June 2017, the equity stake owned by Greencoat and the pension funds would be diluted to 30%. SSE would then hold a 70% stake. This deal is a major part of Greencoat’s plan to expand the fund's portfolio that stood at 301MW at the end of last year.

Thai firm Wind Energy enters Australia…

Wind Energy Holdings has agreed to buy a 50% stake in CWP Renewables’s Australian arm, which is its first overseas deal.

WEH, which is majority-owned by Thai real estate giant KPN Group, has total installed wind capacity of 207MW in Thailand. Upon completion of the deal, WEH would own half of CWP’s 113MW Boco Rock Wind Farm and its 800MW Australian pipeline.

CWP Renewables, which is a joint venture between Continental Wind Partners and the Wind Prospect Group, entered the Australian market in 2007.

…as China’s SPIC makes $225m addition

A major Chinese corporation is set to take its Australian portfolio over 1GW by buying the 107MW Taralga wind farm for $225m.

China’s State Power Investment Corporation has agreed to pay A$300m ($225m) to Spanish bank Santander for the wind farm, located in New South Wales. The project would add to the 900MW wind and hydro portfolio SPIC acquired from Pacific Hydro in a A$3bn ($2.5bn) buyout at the end of January.

SPIC’s acquisition of the Taralga wind farm, which has a ten-year power purchase agreement with Energy Australia, is scheduled to complete in the next two months.

Vattenfall plans 1.8GW Norfolk Vanguard

Vattenfall is working up plans for its 1.8GW Norfolk Vanguard in UK waters as it seeks to submit a planning application next year.

The Swedish utility has agreed with the Crown Estate to take the project, with a target capacity of 1.8GW, into the planning process in 2017. It has also agreed with the Crown Estate to start planning the Norfolk Boreas project, also with a target capacity of 1.8GW, in 2017. Vattenfall is aiming for consent for Norfolk Vanguard in 2019.

Both projects are set to be located in a 7.2GW development zone off the coast of East Anglia. Last summer, Vattenfall and its partner in the zone, ScottishPower Renewables, agreed to split the site between them so that they could each develop separate projects.

Wind Watch

Wind Watch is published every Monday and Friday.

UK Budget: Offshore in CfD clarity plea

George Osborne must give clarity on offshore subsidies in today’s Budget as wind is on track to hit targets, RenewableUK has said.

This week, the UK renewables trade body published a report showing that offshore costs are on track to meet a 2020 target of a levelized cost of energy of £100/MWh or less. It said UK chancellor Osborne should give further details about three planned Contracts for Difference auctions to encourage offshore wind development.

Meanwhile, think tank Green Alliance said the UK government should abandon incentives for fossil fuels and use public funds to support renewables. Osborne could make announcements over renewable energy funding in his Budget today.

Greencoat and GLIL in £355m Clyde deal

Clean energy investor Greencoat and two UK pension funds have bought half of SSE’s 350MW Clyde wind farm for £355m.

Greencoat UK Wind now owns a 28.2% stake in the Scottish wind farm, and GMPF & LPFA Infrastructure LLP (GLIL) owns 21.7%. GMPF & LPFA is a joint venture between Greater Manchester Pension Fund and the London Pension Funds Authority.

However, if a planned 173MW extension completes, as it is due
to in June 2017, the equity stake owned by Greencoat and the pension funds would be diluted to 30%. SSE would then hold a 70% stake. This deal is a major part of Greencoat’s plan to expand the fund's portfolio that stood at 301MW at the end of last year.

Thai firm Wind Energy enters Australia…

Wind Energy Holdings has agreed to buy a 50% stake in CWP Renewables’s Australian arm, which is its first overseas deal.

WEH, which is majority-owned by Thai real estate giant KPN Group, has total installed wind capacity of 207MW in Thailand. Upon completion of the deal, WEH would own half of CWP’s 113MW Boco Rock Wind Farm and its 800MW Australian pipeline.

CWP Renewables, which is a joint venture between Continental Wind Partners and the Wind Prospect Group, entered the Australian market in 2007.

…as China’s SPIC makes $225m addition

A major Chinese corporation is set to take its Australian portfolio over 1GW by buying the 107MW Taralga wind farm for $225m.

China’s State Power Investment Corporation has agreed to pay A$300m ($225m) to Spanish bank Santander for the wind farm, located in New South Wales. The project would add to the 900MW wind and hydro portfolio SPIC acquired from Pacific Hydro in a A$3bn ($2.5bn) buyout at the end of January.

SPIC’s acquisition of the Taralga wind farm, which has a ten-year power purchase agreement with Energy Australia, is scheduled to complete in the next two months.

Vattenfall plans 1.8GW Norfolk Vanguard

Vattenfall is working up plans for its 1.8GW Norfolk Vanguard in UK waters as it seeks to submit a planning application next year.

The Swedish utility has agreed with the Crown Estate to take the project, with a target capacity of 1.8GW, into the planning process in 2017. It has also agreed with the Crown Estate to start planning the Norfolk Boreas project, also with a target capacity of 1.8GW, in 2017. Vattenfall is aiming for consent for Norfolk Vanguard in 2019.

Both projects are set to be located in a 7.2GW development zone off the coast of East Anglia. Last summer, Vattenfall and its partner in the zone, ScottishPower Renewables, agreed to split the site between them so that they could each develop separate projects.

Wind Watch

Wind Watch is published every Monday and Friday.

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Not a member yet?

Become a member of the 6,500-strong A Word About Wind community today, and gain access to our premium content, exclusive lead generation and investment opportunities.