SSE and Bord na Móna have formed a joint venture, splitting ownership equally, to deliver up to 800 MW of new renewable onshore wind energy in Ireland. Over €1 billion could be invested over the next ten years in developing multiple wind projects across the Midlands
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Korys has increased its ownership in Virya Energy to 70 per cent by acquiring an additional 30 per cent from the Colruyt Group, amounting to approximately €600 million in equity value. With this stake, Korys aims to support Virya Energy in advancing its growth plans
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RWE AG, a German energy group, has finalised the purchase of the 4.2 GW Norfolk offshore wind zone portfolio in the UK from Swedish utility Vattenfall AB. The three 1.4 GW fully consented projects in the Norfolk zone are Norfolk Vanguard West, Norfolk Vanguard East, and Norfolk Boreas, all of which are situated off the coast of Norfolk in East Anglia. All of Vattenfall’s team in Norfolk will also join RWE as part of the agreement, which was announced at the end of 2023.
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TerraWind Renewables is a joint venture between US infrastructure investor Stonepeak and Japanese renewable energy company Shizen Energy. Stonepeak will own 80 percent of the new onshore wind energy platform, while Shizen Energy will own the remaining 20 percent.
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Ventyr, a consortium consisting of Parkwind and Ingka Investments, the investment arm of Ingka Group has won the Norwegian auction for the development of the Sørlige Nordsjø II phase 1 area in the Southern Norwegian North Sea.
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Shell New Energies US LLC, a subsidiary of energy giant Shell PLC, has divested its 50% equity share in the SouthCoast Wind Energy LLC offshore wind joint venture to its partner Ocean Winds North America LLC. SouthCoast Wind is a 50-50 joint venture originally formed between Shell and Ocean Winds in 2018 to develop offshore wind projects off the coast of Massachusetts. With this deal, Ocean Winds now takes full ownership of the venture.
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Masdar, a renewable energy company based in the United Arab Emirates, has secured €488 million in funding for its 49 percent ownership in Germany’s Baltic Eagle offshore wind farm. It will be situated 30 km northeast of Rügen Island and will have the advantage of an initial 20 years
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Octopus Energy’s generation arm has purchased a 50 per cent share of the German renewable energy company Lintas Green Energy. Reportedly, the move broadens the company’s national reach and accelerates the expansion of the Oldenburg-based green energy provider.
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Grid investments across Europe must be stepped up and planning processes fully aligned with the new reality of the energy transition. Grids have recently skyrocketed onto the political agenda. As clean technology deployment surges forward, it is increasingly coming up against the bottleneck of insufficient grid capacity, leading to connection delays, curtailment and increased costs for consumers. The analysis, based on 35 national grid development plans from European Transmission System Operators (TSOs) of electricity, shows that planned network developments in a number of countries are out of step with the reality of the energy transition.
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Sempra Infrastructure has placed a 319 MW order for the Cimarron wind farm near Tecate, Baja California, Mexico. The Energia Sierra Juarez Wind Complex, which will have a 582 MW installed capacity overall, is currently in its third phase. The deal covers the delivery and deployment of 46 V163-4.5 MW turbines and 18 V162-6.2 MW turbines.
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Ørsted has struck a deal with Stonepeak to sell off a part of its ownership in a portfolio of four US onshore wind farms, with a total capacity of 957 MW. This is Ørsted’s second significant divestment of multiple assets in the US as part of its ongoing farm-down strategy. The transaction is valued at approximately $300 million.
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Energa Wytwarzanie, an Orlen Group affiliate, and Northland Power have launched Baltic Offshore Service Solution, a new firm that will deliver offshore wind services in Poland. The joint partnership will provide a range of services, including technical, operational, commercial, and contractual issues. It will also be responsible for operating the Orlen Group’s 24-hour wind farm management centre, which monitors, coordinates, and controls the company’s offshore assets.
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Petrovietnam (PVN) and Copenhagen Infrastructure Partners Group (CIP) of Denmark will cooperate in the renewable energy sector following a memorandum of understanding (MoU) inked between the two companies.
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Mainstream Renewable Power, the global pure-play renewable energy company, has signed two wind energy service contracts (WESCs) with the Department of Energy (DOE) in the Philippines for the development rights for two onshore wind farms with a combined capacity of 440 MW. As per the company’s statement, the contracts represent Mainstream’s first fully-owned WESCs in the Philippines and it is one of the first 100 per cent foreign-owned companies to secure the contracts.
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Vestas has confirmed a previous conditional agreement to provide turbines for Equinor’s 810 MW Empire Wind 1 project, which was successfully rebid in New York’s fourth offshore wind auction. Vestas stated in October 2021 that the project was a part of a larger preferred supplier agreement for the combined Empire Wind 1 and 2 projects.
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The Dutch Ministry of Economic Affairs and Climate, through Netherlands Enterprise Agency, has initiated a 4 GW offshore wind tender which aims to award two permits in early 2024, dividing them between plot Alpha (2 GW) and plot Beta (2 GW). Future plans involve adding another plot, eventually increasing the total capacity to 6 GW. These designated areas are part of the IJmuiden Ver wind farm zone in the North Sea. The deadline for bid submissions is March 28, 2024.
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Masdar has completed its acquisition of a 49 percent shareholding in RWE’s 3 GW Dogger Bank South project. This is part of a planned £11 billion investment in UK’s renewables sector. It builds on the £10 billion UAE-UK Sovereign Investment Partnership to invest in technology, infrastructure and the energy transition. RWE, which will have a 51 percent stake in the project will be in charge of development, construction and operation of the projects throughout its lifecycle.
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Eolus has submitted an application for the 1 GW Blekinge Offshore Wind Farm, located 11 km off the coast of Blekinge in southern Sweden. Up to 70 turbines at this site, which is part of the Karlshamn and Sölvesborg municipalities, can provide up to 4.3 TWh of renewable energy annually. The construction work is scheduled to start in 2027.
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Hexicon AB has signed a sales and purchase agreement (SPA) to take full ownership of MunmuBaram Co., Ltd. from its joint venture partner Shell Overseas Investments B.V. Under the agreement, Hexicon AB will increase its stake in the project from 20 per cent to 100 per cent, increasing the project portfolio by 900 MW.
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DTE Energy, a US utility, is seeking proposals for renewable energy projects totaling approximately 1.075 GW to support DTE Electric’s CleanVision Integrated Resource Plan (IRP); continued demand for the company’s MIGreenPower programme, and Michigan’s new renewable energy standard of 60 per cent by 2030.
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