Vattenfall, Sweden’s state-owned power company, has received permission from the Swedish government to build Kriegers Flak, a 640 MW offshore wind farm. The Kriegers Flak plant, located in the south of the Baltic Sea, will be equipped with 40 to 50 wind turbines and will generate around 2.6 TWh of green electricity per year. The offshore wind farm will generate enough clean energy to power more than 500,000 homes.
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Denmark is planning to set up two energy islands that can supply renewable energy produced by offshore sources to the domestic market of Denmark and other European countries. Denmark will build the first island in the North Sea to serve offshore wind turbines with a 3 GW initial serving facility. The second Denmark energy island will be built in the Baltic Sea’s Bornholm islands, with a serving capacity of 2 GW.
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Octopus Renewables Infrastructure Trust (ORIT), a UK-based renewable investment firm, has agreed to acquire a 7.75 per cent stake in the Lincs offshore wind farm. Lincs, with a capacity of 270MW, is located offshore from England’s east coast and has been operational since 2013. The offshore wind facility, which spans 35 km sq, is equipped with 75 wind turbines, each with a 3.6MW capacity.
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SSE Renewables and Brookfield Asset Management, a Canadian investment business, have joined forces to bid for the Hollandse Kust (west) offshore wind farm zone, which is currently under construction in the Netherlands. The Hollandse Kust (west) zones, which are about 53 km from the Dutch coast, are being auctioned for the development of two individual sites, each with a capacity of 700 MW.
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ITT Inc. has announced the construction of a photovoltaic lake at its largest factory in Barge, Italy. The lake will be about the size of four Olympic swimming pools and will be made up of approximately 3,000 solar panels. As per the company’s statement, $2.5 million investment is part of ITT’s long-term strategy to become more sustainable.
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Spanish companies Matrix Renewables and Rolwind have signed a partnership agreement to develop 1GW of renewable projects. The global renewable energy platform, Matrix Renewables, plans to initially invest in a portfolio of 150 MW which consists of three solar power projects located in Huelva, Spain.
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EDF Renewables and its partner, Windvision have announced that they have secured a 226MW project in France’s latest auction for onshore wind projects. The wind farm known as the ‘ Mont des Quatre Faux project’ will be located near Rethel, in the Ardennes department of France’s Grand Est region. It will be spread across seven municipalities and will be built at an estimated cost of Euro 250 million. Once running, the project will be equipped to fuel the power needs of around 250,000 people.
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bp and Energie Baden-Wuerttemberg AG (EnBW) of Germany have together emerged as the preferred bidder for two major leases in the UK Offshore Wind Round 4. Both these leases are located in the Irish Sea and together offer a total potential to generate 3 GW of offshore wind power. This is the first such UK leasing round since 2010 and offers a 60-year lease life.
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Iberdrola has signed an agreement with DP Energy acquiring a majority share in its offshore wind projects with a cumulative capacity of 3GW. This marks its entry into the offshore wind market in Ireland. The projects are situated across three groups in the eastern, western and southern coasts of Ireland.
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Spain has announced the allocation of about 3 GW of renewable energy capacity in its first renewable energy auction since 2017. The auction was conducted by the Ministry for the Ecological Transition and witness the awarding of 2 GW of solar capacity. Additionally, the Ministry also allotted about 1 GW of wind energy under the auction. The winning bidders must complete the solar projects by February 2023 and wind projects by February 2024.
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Lightsource BP has announced the acquisition of a portfolio consisting of 1.06 GW of solar projects in Spain from RIC Energy. Additionally, the sales agreement specifies a partnership with RIC Energy to develop solar projects in 14 sites across Madrid, Andalusia, and Castile and Leon. The first batch of projects is projected to reach ready-to-build status by the end of 2021 and be commissioned between 2022 and 2025.
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Norway-based Aker Horizons, a wholly owned subsidiary of Aker ASA, will invest in a 75 per cent equity stake in Mainstream Renewable Power, with a valuation of Euro 1 billion, which includes an earn-out of up to Euro 100 million in 2023 and is subject to customary adjustments
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Spain-based energy group Naturgy has acquired 100% of the economic interests in Hamel Renewables, a renewable energy company specialising in solar and energy storage. This transaction marks Naturgy’s entry into the United States renewable energy market as this is its first investment here.
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Total and Engie have mutually agreed to design, develop, build and operate a renewable hydrogen production unit called the Masshylia project. The project will be located at a site at Chteauneuf-les-Martigues in the Provence-Alpes-Cote d’Azur in the Southern region of France.
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Siemens has unveiled plans to merge its wind energy generation business with mechanical drive unit Flender. The decision is a part of a two-stage strategy to reorganise and revamp its units within its Portfolio Companies (POC).
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Canada-based energy company Enbridge Inc has agreed to offload 49 per cent of its 50 per cent interest in the developer of three offshore wind projects in France to the Canada Pension Plan Investment Board, which operates as CPP Investments.
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