Statkraft in UK and Irish wind investment

Norwegian energy firm Statkraft has bought the UK and Irish wind farm development arms of Cork-based Element Power Group.

The portfolio includes 1.3GW of projects in Ireland and 250MW in the UK.

Statkraft, which is Europe’s largest producer of renewable energy, wants to grow its wind portfolio to 6GW by 2025.

> See Statkraft's statement


Gresham House plans £200m investment trust

Investment manager Gresham House has unveiled plans to launch a £200 million energy storage fund that will provide National Grid with utility-scale energy storage systems.

Gresham will initially have five sites with a combined capacity of 70MW, with exclusivity on projects with a further 132MW.

The company plans to float the fund on the London Stock Exchange’s main market.

> Find out more on the London Stock Exchange website


Floating wind costs could drop significantly

Trade body WindEurope is predicting that the cost of electricity generated by offshore wind farms could drop from €180-200/MWh at present to €40-60/MWh by 2030.

Publishing its blueprint for the floating wind farm industry, WindEurope said the sector needed dedicated policies from governments.

It said Europe was already leading three quarters of the world’s 50 floating wind farms projects.

> Download WindEurope's blueprint


Foresight looks to raise £34m to boost portfolio

The Foresight Solar Fund has unveiled plans to raise £34 million by issuing further shares on the London Stock Exchange.

Foresight will use the cash to buy 11 solar farms spread across two portfolios.

The sites’ combined 80.9MW would take the company’s capacity to 869MW.

> Read Foresight's announcement


GIG invests £1.6bn in green energy projects

Green Investment Group has pumped £1.6 billion into low-carbon projects, according to its first progress report since the Green Investment Bank was privatised.

The bank, which the UK Government sold to Australian infrastructure investor Macquarie, has completed ten transactions since August 2017.

Mark Dooley, Global Head of Green Investment Group, said: “We’ve expanded our global footprint, developed innovative investment solutions and continued to support the technologies which will remain a driving force behind the global energy transition.”

> Download GIG's progress report