Scottish Power Renewables has closed Europe’s largest wind turbine contract for a single project in a major deal with Siemens for a 102 turbine offshore wind project. The East Anglia One project will consist of 102 turbines of 7MW capacity each. The project will be delivered at a price of £119/MWh – a 20 per cent cost reduction compared to other offshore wind farms in the UK. Iberdrola currently has around 5,000MW under construction in onshore and offshore wind farms and generation power plants with long-term contracts.
Utility Week 27th April 2016 read more »
Booming profits from British windfarms have more than made up for declining oil and gas revenues at Dong Energy, a state-owned Danish utility which says it is transforming itself from a high to low-carbon power producer. Dong, the biggest single investor in UK offshore wind projects, including the huge London Array windfarm off Kent, reported first-quarter profits of Kr 8bn (£836m), a sum that was up 35% on the same period last year. Henrik Poulsen, Dong’s chief executive, said the move from fossil fuels to renewable energy was gathering speed with no more spending planned for new oil projects not already begun. “The world will cont inue to need fossil fuels for a quite a time yet but the bigger trend is towards renewables and this is probably accelerating,” he said. “We see ourselves as a leader in offshore wind and bioenergy.” Dong’s profits from renewables were Kr3bn, with Kr2bn from oil and gas, plus Kr1bn from the electricity grid system it operates in Denmark, the company reported. Earnings from renewables, mainly offshore wind, had risen by more than 50% but the group profits were also bolstered by almost Kr2bn of disposals.
Guardian 27th April 2016 read more »
The Danish government-controlled utility is considering a potential flotation in the next couple of months. Dong Energy paved the way for what could be one of Europe’s biggest stock market listings this year as the company posted a big jump in profits. The Danish government-controlled utility is considering a potential flotation in the next couple of months. However, it could delay especially if there is market turmoil due to the UK’s referendum on EU membership, people familiar with the initial public offering process said.
FT 28th April 2016 read more »