Renewables fund invests in French solar

The Renewables Infrastructure Group (TRIG) has bought a 51% stake in a 12MW ground-mounted solar plant in the South of France.

TRIG bought the stake from investment funds managed by 123Venture for €10.6 million (£8.8m).

The site, which was commissioned in 2012 and built by Akuo Energy Group, has a power-purchase contract in place with EDF until 2032.

> Read TRIG's announcement

EDF to enter Chinese solar market

French power firm EDF has bought an 80% stake in Chinese wind farm developer UPC Asia Wind Management.

Global Environment Fund, an investment fund based in the United States, will retain a 20% shareholding.

Jean-Bernard Lévy, Chairman and Chief Executive of EDF Group, said: “In the framework of EDF’s strategy CAP 2030, our goal is to accelerate our low-carbon generation, with a diversified energy mix where nuclear and renewable energy balance each other.

“Our development in high potential markets, such as China, is a full part of this dynamic process.”

> See EDF's statement

Scottish low carbon demonstration fund launched

The Scottish Government has launched a low carbon demonstration fund to deliver “large-scale transformational low-carbon infrastructure projects”.

Up to £20 million is available for each project, as long as the total capital cost of the project exceeds £40m.

Economy Secretary Keith Brown said: “This fund is another example of the benefits of Scotland remaining in the European Union and the single market as The Low Carbon Infrastructure Transition Programme (LCITP) is supported by the 2014-2020 European Regional Development Fund (ERDF).”

> See the Scottish Government's statement

Carbon Trust joins forces with wind developers to cut costs

Nine wind farm developers have joined the Carbon Trust’s Offshore Wind Accelerator (OWA), collaborative research, development and demonstration (RD&D) programme designed to lower the cost of wind farms.

DONG Energy, EnBW, E.ON, Iberdrola, RWE, SSE, Statkraft, Statoil and Vattenfall will together invest at least £6.4 million over the next four years, with the Scottish Government contributing a further £1.5m.

They aim to lower the cost of generating electricity from wind power to below £100/MWh by 2020.

> View the Carbon Trust's statement

EU launches marine energy project

The European Union (EU) has unveiled Funding Ocean Renewable Energy through Strategic European Action (Forsea), an €11 million (£9.2m) demonstrate tidal, wave and offshore wind energy technologies in real-sea conditions.

The project will be led by the European Marine Energy Centre (EMEC) on Orkney and will also include SmartBay at Galway in Ireland, SEM-REV at Nantes in France and the Tidal Testing Centre at Den Oever in the Netherlands.

Karmenu Vella, European Commissioner for the Environment, Maritime Affairs & Fisheries said: “If we are to help ocean energy on a path towards commercialisation, countries as well as companies will have to work together to overcome joint challenges.”

> Read EMEC's announcement