Europe & UK

Europe & UK

EUR 7 billion EIB backing for communications, renewable energy and innovation

November 15, 2019 Anand Gupta

EUR 1.3 billion to improve internet and mobile telecommunication services EUR 1.7 billion for business and corporate innovation investment EUR 1.5 billion for renewable energy and energy transition The Board of the European Investment Bank (EIB) yesterday agreed to support EUR 6.9 billion of new financing. This includes backing new investment across Europe and around […]

Europe & UK

EU Bank launches ambitious new climate strategy and Energy Lending Policy

November 15, 2019 Anand Gupta

The EIB will end financing for fossil fuel energy projects from the end of 2021 Future financing will accelerate clean energy innovation, energy efficiency and renewables EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030 EIB Group will align all financing activities with the […]

Europe & UK

RWE hedges power prices up to 2022, CO2 costs into the mid-2020s

November 14, 2019 Anand Gupta

The company also covered much of its carbon emissions rights requirements through accompanying financial hedges to protect itself against generation margin risks FRANKFURT: German utility RWE, one of Europe’s biggest power generators, has sold much of its power output over the next few years, it said on Thursday. * The company also covered much of […]

Europe & UK

GCL-SI Supplies 150 MW Solar Modules for the Largest Solar Project in Europe

November 14, 2019 Anand Gupta

EXTREMADURA : GCLSI, a world-leading one-stop intelligent and integrated energy system provider, is scheduled to deliver 72 polycrystalline products with three varying grades of power to the Nuñez de Balboa project in December. Nuñez de Balboa is the first utility-scale solar station made by Iberdrola in Europe. The 1,000-hectare mega-facility with a capacity of 500MW […]

Europe & UK

Greece, China Sign 16 Deals in Sectors Including Energy

November 12, 2019 Anand Gupta

Greece and China in Athens Monday signed 16 agreements in sectors including energy, agriculture, tourism and ports. Chinese President Xi Jinping is on an official visit to Greece for follow-up meetings with Greek officials, after Premier Kyriakos Mitsotakis visited China last week. At that time, the leaders said they wanted to expand relations between two […]

Europe & UK

Italian aerospace group Leonardo invests in solar-powered drones

November 12, 2019 Anand Gupta

MILAN : Italian defense and aerospace group Leonardo (LDOF.MI) has invested in a company developing solar-powered drones potentially capable of unlimited flight with no refueling, it said. The drone, which is expected to begin autonomous flights next year and go into production in 2021, can operate from existing airbases around the world and remain airborne […]

Europe & UK

IsDB announces plans to launch first green bond

November 12, 2019 Anand Gupta

The IsDB has successfully finalised a Sustainable Finance Framework and become the first AAA-rated institution to issue a Green Sukuk. The IsDB has successfully finalised a Sustainable Finance Framework and become the first AAA-rated institution to issue a Green Sukuk. This is an innovation that affirms IsDB’s commitment to the SDGs while integrating climate considerations […]

Europe & UK

Germany’s EnBW posts nine-month profit rise on renewables jump

November 9, 2019 Anand Gupta

FRANKFURT : German utility EnBW on Friday posted a 7.4% increase in nine-month core profit, boosted by its renewable segment where recent acquisitions in Sweden and France led profits to rise by more than a third. On a group level, adjusted earnings before interest, tax, depreciation and amortisation came in at 1.69 billion euros ($1.87 […]

Europe & UK

European power prices set to jump 30% by 2025

November 9, 2019 Anand Gupta

S&P said the supply gap would likely be filled by the rise in renewable solar capacity in Europe which could increase to 43% of the electricity mix from 23% in 2018 PARIS : European wholesale electricity prices could soar by around 30 per cent by 2025 due to a recovery in gas and carbon emissions […]

Europe & UK

SSE wins government consent for extension to Scottish onshore wind farm

November 8, 2019 Anand Gupta

The 70 megawatt wind farm has 35 turbines and planning consent has been granted for an additional 11 turbines to be built LONDON: * SSE Renewables has been given consent by the Scottish government to extend its Gordonbush onshore wind farm in Sutherland, it said on Wednesday. * The 70 megawatt wind farm has 35 […]