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Glennmont to take 25% stake in German offshore wind project

July 2, 2019 Anand Gupta

LONDON: Fund manager Glennmont Partners will take a 25% stake in the Gode Wind 1 project off the coast of Germany, it said on Monday, marking its first investment in offshore wind. London-based Glennmont has 2 billion euros ($2.3 billion) of assets under management and already invests in renewable projects such as onshore wind and […]

Europe & UK

German network agency approves solar power projects

June 20, 2019 Anand Gupta

The majority of the approved capacity was for Mecklenburg-Vorpommern state in the northeast, at an average price of $0.0613 cents per kWh, down from 6.59 cents awarded in the previous round FRANKFURT: Germany’s federal network agency on Wednesday reported it had approved 14 bids for a solar power capacity of 205 megawatts (MW) in this […]

Europe & UK

Save coal, lose youth vote? Far-right German party faces climate policy revolt

May 30, 2019 Anand Gupta

A youth wing of Germany’s far-right Alternative for Germany (AfD) has called on the party to rethink its climate scepticism, which includes defending the coal industry, after a poor showing among young voters in last week’s European Parliament election. A youth wing of Germany’s far-right Alternative for Germany (AfD) has called on the party to […]

Batteries

Enel team fires German battery

May 18, 2019 Anand Gupta

Enel Green Power Germany, Enertrag and Leclanche have inaugurated the 22MW Cremzow energy storage system in the German state of Brandenburg. The €17m battery project in Cremzow will support the stability of the German grid by providing frequency regulation services to the country’s primary control reserve, Enel said. “When the grid’s frequency decreases due to […]

Europe & UK

Cracks appear in German government over planned climate law

May 14, 2019 Anand Gupta

Germany’s environment minister on Monday backed a European proposal to virtually eliminate man-made greenhouse gas emissions by mid-century, deepening divisions within the German government over how to tackle climate change. French President Emmanuel Macron and eight either EU countries pitched the plan at a summit of European leaders last week, but Germany was a notable […]

Activists protest against the carbon dioxide emissions trading in front of the World Congress Centre Bonn, the site of the COP23 U.N. Climate Change Conference, in Bonn

Europe & UK

German government warming toward carbon tax: paper

April 29, 2019 Anand Gupta

BERLIN: Germany looks set to introduce an economy-wide system of carbon emissions pricing after senior officials from both parties of Berlin’s governing coalition reached a consensus on the proposal, the Frankfurter Allgemeine reported on Sunday. According to the newspaper, Economy Minister Peter Altmaier, a conservative, had come round to the idea after initially opposing the […]

Europe & UK

French utility Engie to sell some German and Dutch coal power assets

April 27, 2019 Anand Gupta

Engie said it was selling those assets to investment firm Riverstone Holdings LLC and that the deal would cut Engie’s net consolidated debt by around $223 million PARIS: French utility Engie has agreed to sell some coal-fired power plants in the Netherlands and Germany, as Engie continues its strategy of disposing of non-core assets to […]

Middle East & Africa

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

April 13, 2019 Anand Gupta

The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing facility of up to $5 million. […]

The Welzow-Sued opencast lignite mine operated by Lausitz Energie Bergbau AG is pictured in Welzow, Germany

Europe & UK

As end looms for coal, German mining region shifts right

April 12, 2019 Anand Gupta

SPREMBERG, Germany: A German far-right party is using a simple message to attract voters in a mining region threatened by government plans to phase out coal: jobs are more important than the environment. Chancellor Angela Merkel’s aim to wean Europe’s biggest economy off fossil fuels is the main issue in a September election in the […]

Featured

German help for South Asia’s biggest floating solar power plant in West Bengal

April 1, 2019 Anand Gupta

KOLKATA: Bengal is set to get South Asia’s biggest floating solar power plant. The 500MW plant is likely to attract an investment of Rs 2,500 crore. Sources in power department indicated that Kangsabati river at Mukutmanipur could be the location for the project. If everything goes as per plans, it may also become the country’s […]

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