East Anglia One gets investment go-ahead

ScottishPower has decided to proceed with its investment in the £2.5 billion East Anglia One offshore wind farm.

The wind farm is expected to be fully operational by 2020 and is forecast to create 3,000 construction jobs, with 50% of its budget being spent in the UK.

East Anglia One was hailed as “the most cost efficient offshore windfarm ever to confirm construction”, with its £119/MWh contracted price sitting at 15% below other offshore wind projects in construction elsewhere in the UK.

> See ScottishPower's statement

Dutch firm in deal with marine energy centre

Dutch firm Tocardo has unveiled plans to test eight of its T2 turbines at the European Marine Energy Centre (EMEC) on Orkney.

The 20-year demonstration project will be installed in 2017.

Hans van Breugel, Chief Executive at Tocardo, said: “The EMEC project is a breakthrough for Tocardo’s careful roll out of our technology moving from near inshore towards offshore.”

> View EMEC's announcement

Demonstration wind turbine unveiled after acquisition

The Offshore Renewable Energy (ORE) Catapult has officially unveiled its 7MW demonstration offshore wind turbine in Levenmouth, Scotland following its acquisition from Samsung Heavy Industries.

The turbine is the world’s most advanced, open access, offshore wind turbine dedicated to research, and offers complementary opportunities for economic growth, training and development of skills vital for the future of the offshore wind industry.
 
Andrew Jamieson, Chief Executive of ORE Catapult, said: “The Levenmouth Demonstration Turbine will play a major part in the development of future technologies to lower the cost of offshore wind. It offers opportunities for UK supply chain and technology development and, sitting so prominently at the heart of the Levenmouth communities, it is vital that the turbine also plays a role in locally developing and supporting the next generation of Scottish engineers, who will ensure that Fife enjoys a bright future thanks to renewable energy.”

The output of the turbine is purchased by SmartestEnergy under a Power Purchase Agreement (PPA).

> Read more here

Wind fund Greencoat sees progress

High winds helped Greencoat UK Wind, the investment vehicle listed on the London stock market, to generate 800GWh of power during 2015, 8% higher than its target.

Commenting on the company’s full-year results, Chairman Tim Ingram said: “We are pleased to report the continued good performance of our portfolio, with cash generation in line with budget despite the more difficult market environment.

“During the year, we analysed many further investment opportunities, but have been very selective, only buying one new wind farm increasing our portfolio to 17 investments with just over 300MW of net generating capacity.”

> See Greencoat's statement

Swindon launches first council solar bond

Swindon Borough Council is becoming the first local authority to launch a solar bond.

The council is teamed up with Abundance Investment to build a 5MW solar park.

Community initiatives would receive 65% of the profits, with investors and the council sharing the remaining surplus.

> Find out more