Europe & UK

Europe & UK

Ofgem considering further measure to make URE Energy pay renewables fine

February 14, 2019 Anand Gupta

The Renewables Obligation is a government scheme to support large-scale renewable electricity projects LONDON: British energy market regulator Ofgem has proposed issuing power supplier URE Energy with a final order to pay a fine issued for not paying into a fund when it did not source enough electricity from renewable energy, it said on Wednesday. […]

People walk past an IKEA kitchen showroom downtown Stockholm

Europe & UK

IKEA buys 25 percent of Germany’s second-biggest offshore wind farm

February 14, 2019 Anand Gupta

STOCKHOLM: Ingka Group, the owner of most IKEA stores, said on Wednesday it had bought a 25 percent stake in Germany’s second-biggest offshore wind farm as part of a strategy to reach its sustainability targets. The world’s biggest furniture retailer said in a statement it paid more than 200 million euros ($226 million) for a […]

Europe & UK

Balearic Islands chart green path with climate change law

February 13, 2019 Anand Gupta

BARCELONA: Spain’s Balearic Islands set a course for a greener future on Tuesday, approving a climate change law that commits the tourism hotspot to source all its energy from renewables by 2050. The law includes a phase-out of coal power produced at Es Murterar plant on the popular holiday island of Mallorca by 2025, starting […]

Europe & UK

Eleven EU states already met 2020 renewable energy target: Eurostat

February 13, 2019 Anand Gupta

BRUSSELS: The European Union produced 17.5 percent of its power needs from renewable sources in 2017, while 11 of the bloc’s 28 members had already achieved a 2020 goal of 20 percent or more, the latest data released by Eurostat showed. Renewables, such as wind, solar and hydro power, accounted for 17 percent of the […]

Europe & UK

Action against climate change: EIB and CaixaBank join forces to finance projects promoting climate action

February 12, 2019 Anand Gupta

CaixaBank is launching its first credit line to combat climate change via the EIB’s dedicated climate action financing programme. It is the first time that CaixaBank has allocated EIB funds to financing the projects of individuals. The European Investment Bank (EIB) and CaixaBank are taking another step forward to help finance climate action-focused projects together. […]

Europe & UK

Record EUR 3.3 billion EIB engagement across Africa supports private sector, clean energy, transport and water investment

February 12, 2019 Anand Gupta

Largest ever European Investment Bank engagement in Africa since 1965 Direct support for 59 private sector and sustainable development projects 20 African countries EIB President highlights strong pipeline of new projects at African Union summit In 2018 the European Investment Bank agreed EUR 3.3 billion (USD 3.74 billion) of new financing for private sector and […]

Europe & UK

German energy grids say plans ready for 100MW hydrogen plant

February 12, 2019 Anand Gupta

The 100 megawatt (MW) power-to-gas (ptg) plant to be called “hybridge” can start operations from 2023 at Lingen in Germany’s windy north-west, the firms said in statements presented at a Berlin news conference. New Delhi: German power and gas grid firms Amprion and Open Grid Europe (OGE) said on Monday they would shortly apply to […]

Europe & UK

#InnovFin: EUR 12 million loan from EU to Estonian clean tech company Elcogen

February 9, 2019 Anand Gupta

EUR 12 million quasi-equity facility for further research and development, supported by the European Commission under the InnovFin programme. Very first InnovFin support for a company in the Baltics provided by the EIB; financing will enable Elcogen to bring its highly efficient fuel cell technology to the market. The European Investment Bank (EIB) has signed […]

Europe & UK

Europe’s offshore wind capacity rose 18 pct last year: Industry group

February 8, 2019 Anand Gupta

Europe installed 2.6 gigawatts of new offshore wind energy in 2018, raising total capacity to 18.5 GW, WindEurope’s annual report on the industry shows LONDON: Europe’s offshore wind capacity grew by 18 percent in 2018 as new wind farms came online and it is expected to rise further this year, industry group WindEurope said. Europe […]

Europe & UK

French 2018 power output saw its strongest growth in a decade

February 8, 2019 Anand Gupta

PARIS: French electricity generation saw it biggest increase in ten years, up 3.7 percent at 549 terawatt hour (TWh) compared with 2017, thanks to a surge in power output from nuclear and renewables sources, French grid operator said on Thursday. The increased output from nuclear and renewables enabled France cut is carbon emissions from power […]