Europe & UK

EU investment bank halts loans to scandal-tainted Volkswagen

Europe & UK

Just Transition Mechanism: the EIB and the European Commission join forces in a proposed new public loan facility to finance green investments in the EU

May 29, 2020 Anand Gupta

Today, the European Commission presents its proposal for a public sector loan facility under the Just Transition Mechanism. The facility will be implemented with the involvement of the European Investment Bank and will encourage investments that support the transition towards a climate-neutral economy by public sector authorities to the benefit of coal- and carbon-intensive regions. […]

Europe & UK

Siemens to give shareholders 55% of Energy business spin-off

May 27, 2020 Anand Gupta

ZURICH: Siemens will give 55% of its power business to shareholders when it spins it off in September, the German engineering group said on Tuesday, the latest stage in its shift away from a sprawling conglomerate. The trains to industrial software maker then wants to “significantly” reduce its remaining 45% position within 12 to 18 […]

Europe & UK

Mexico to reply this week to Canada, EU worries over new electricity rules: minister

May 19, 2020 Anand Gupta

MEXICO CITY: Mexico will this week respond to Canadian and European Union concerns about its new electricity regulations, Energy Minister Rocio Nahle said on Monday, adding that the rule changes were designed to guarantee system reliability. Nahle was speaking on Mexican radio. The European Union and Canada on Friday both wrote letters to the […]

Europe & UK

RE associations sent letter to EC urging action to solve permitting bottlenecks

May 15, 2020 Anand Gupta

EU renewables industry to European Commission: getting permitting right is key to unlocking new investments Today, renewable energy associations – WindEurope, Bioenergy Europe, EGEC, EREF, ESTELA, Ocean Energy Europe, ESTIF and SolarPower Europe – sent a letter to the European Commission urging concrete action to solve permitting bottlenecks for renewables. The letter delivers a clear message from […]

Europe & UK

Northwester 2 wind farm is now fully operational, producing 9.5 MW from 23 wind turbines

May 15, 2020 Anand Gupta

Just under ten months from the start of the offshore works, the 219 MW Northwester 2 wind farm is now supplying the Belgian grid with green energy from all of its 23 fully operational wind turbines, producing 9.5 MW each. This wind farm is the first to use the deploy MHI Vestas’ highest rated V164-9.5 […]

Europe & UK

Siemens sees strongest coronavirus impact in next quarter as second-quarter profit plunges

May 8, 2020 Anand Gupta

The trains to industrial software maker said it now expected a “moderate decline” in comparable full year revenue. Siemens had previously predicted moderate growth ZURICH: Siemens expects “even stronger impacts” from the coronavirus pandemic in the weeks ahead, it said on Friday as it ditched its 2020 guidance and posted an 18% drop in industrial […]

Europe & UK

Shell has bid in Dutch wind tender, eyes Rotterdam hydrogen plant

May 8, 2020 Anand Gupta

The Dutch subsidiary of Royal Dutch Shell said it had entered a bid in the Hollandse Kust Noord tender, together with a subsidiary of Japan’s Mitsubishi AMSTERDAM: Shell Netherlands said on Thursday it bid in a tender last week to build a 760 MW wind farm off the Dutch coast, and it hopes to couple […]

Europe & UK

Scatec Solar starts commercial operation of 54 MW in Ukraine

May 7, 2020 Anand Gupta

Oslo: Scatec Solar and partners have grid connected and started commercial operations of the 54 MW Boguslav project in the Kyiv region, Ukraine. “We are pleased to complete our second project in Ukraine less than ten months after closing the financing. The Boguslav solar plant will lead to the abatement of more than 55,000 tonnes […]

Europe & UK

French power producer Neoen to build Australia’s biggest solar farm

May 6, 2020 Anand Gupta

“As our economy emerges from the worst impact of COVID-19, we need projects ready to go that will create jobs and stimulate spending, especially in regional Queensland,” the state’s treasurer, Jacki Trad, said in a statement MELBOURNE: French power producer Neoen SA said on Wednesday it will build Australia’s largest solar farm for A$570 million […]

Europe & UK

Iberdrola bets on cash pile, investments to defy coronavirus

May 1, 2020 Anand Gupta

Powering more than 30 million homes and businesses in Spain, the United States, Brazil and Britain brought in net profit of 1.26 billion euros ($1.37 billion) in the first quarter versus a Refinitiv SmartEstimate of 1.20 billion MADRID: Ready cash, multi billion-euro investments, price hedging, regulated networks business and capital gains should help global wind […]