Europe & UK

Europe & UK

Oil Exit No-Brainer for Norway Wealth Fund, Amundi’s Samama Says

March 4, 2019 Anand Gupta

Norway will soon decide whether to let its $1 trillion sovereign wealth fund dump oil and gas stocks in order to reduce the nation’s overall exposure to crude prices. To Frederic Samama, a French banker who’s taken a particular interest in sovereign funds and who co-heads institutional clients coverage at Amundi SA, Europe’s biggest asset […]

Europe & UK

German utility EnBW to expand trading, solar business: CFO

March 4, 2019 Anand Gupta

FRANKFURT: German utility EnBW plans to expand further in energy trading and solar power to replace falling profit contributions from conventional energy sources, its chief financial officer Thomas Kusterer said in an interview published on Saturday. “The cost of solar modules has fallen drastically over the last few years,” he told the Boersenzeitung in an […]

Europe & UK

Breakthrough Energy Ventures collaborates with Climeon to accelerate deployment of geothermal heat power

March 4, 2019 Anand Gupta

Breakthrough Energy Ventures, an investor-led venture fund backed by some of the world’s top business executives, has invested in Baseload Capital, the private investment company which Climeon owns part of, to speed up the global deployment of low temperature geothermal heat power. – Working together with Breakthrough Energy Ventures and Baseload Capital we can now […]

Europe & UK

Statkraft seeks to reduce stakes in its Swedish wind energy farms

March 1, 2019 Anand Gupta

Selling some of its ownership in the wind farms, whose production capacity totals about 500 MW, will help finance new investments OSLO: Norway’s Statkraft, a major European producer of renewable energy, is seeking to reduce its stakes in four fully-owned Swedish wind farms to 51 percent and would invest in new projects in the country, […]

Europe & UK

ScottishPower announces £2bn UK investment in 2019

February 28, 2019 Anand Gupta

ScottishPower announced a record £2 billion investment for this year. This is the Glasgow-based company’s largest ever investment in the UK in a single year. ScottishPower, a subsidiary of Spanish utility company Iberdrola, wants to transition to 100% renewable energy. ScottishPower is the distribution network operator for southern and central Scotland, North Wales, Merseyside, and […]

Europe & UK

Private equity firm Ardian invests 300 mn euros in Swedish wind project

February 28, 2019 Anand Gupta

The firm, which has around $90 billion of assets under management, said the wind farm will be operational in 2021 and is expected to produce in excess of 800 GWh per year STOCKHOLM: Private equity firm Ardian said on Thursday it would invest 300 million euros ($341.52 million) in a project to develop a wind […]

Europe & UK

France added 1.5 GW of wind power capacity in 2018

February 28, 2019 Anand Gupta

Electricity production from renewable wind sources was at 26.1 terawatt hour (TWh) in 2018, compared with 22.6 TWh a year ago, and accounted for 5.5 percent of French electricity consumption during the year PARIS: France added 1.5 gigawatts (GW) of wind power capacity in 2018, taking its total installed power generation from wind turbines to […]

Europe & UK

Siemens Gamesa signs $78.4 mln wind turbine deal with Bosnia’s EPBiH

February 28, 2019 Anand Gupta

Under the contract the company will supply 15 turbines and build the wind park on the Podvelezje plateau near the southern town of Mostar. The deadline to complete the project is 21 months, said EPBiH. New Delhi: Wind turbine maker Siemens Gamesa signed a 69 million euro ($78.4 million) contract on Tuesday to supply Bosnia’s […]

Europe & UK

Engie 2018 RESULTS

February 28, 2019 Anand Gupta

Solid results Confirming growth momentum 2018 results in line with targets: net recurring income Group share at EUR 2.5 trillion, Net debt / EBITDA ratio at 2.3x. Stable EBITDA Demonstrates Engie’s robust business model, with positive momentum in Underlying growth segments offsetting the unfavorable impact of unscheduled Maintenance at Belgian nuclear plants, negative foreign exchange effects and dilution from […]

Europe & UK

Makes sense to rethink ‘renewable-only’ future: Austrian foreign minister

February 28, 2019 Anand Gupta

“It makes sense to rethink the ‘renewable-only’ energy future, if I may put it like that.I hope I won’t be completely misunderstood but this is a little bit of thought-provoking approach,” Kneissl said here. New Delhi: It “makes sense” to rethink the “renewable-only” energy future because in the process of aiming too high, the countries […]