Vattenfall in major Scottish investment

Swedish power firm Vattenfall is to invest £264 million in a combined wind farm and technology development centre off the coast of Aberdeen.

The 11-turbine European Offshore Wind Deployment Centre will be used to test new technologies as well as generating 92.4MW of power.

Magnus Hall, Chief Executive and President of Vattenfall, said: “We aim to double our wind power capacity from 2GW to 4GW by 2020 and are focusing on reducing and streamlining our offshore wind power costs.”

> Read Vattenfall's announcement

Renewables firm raises £3m bond

Thrive Renewables, formerly known as Triodos Renewables, has raised £3 million through its first bond issue.

The cash will be used to increase Thrive’s renewable energy portfolio, which already includes 15 wind and hydro-electric projects.

Each of the 418 investors who subscribed to the five-year bond – which is secured against two wind farms in Aberdeenshire – invested at least £250 each in return for a 5.5% annual return.

> Find out more about the bond

Danish pension firm buys UK solar projects

Danish pension investor PFA has signed a deal to buy three solar farms in the UK from European Solar Farms.

The three farms have a combined capacity of 14.75MW and include the site that supplies Nissan’s car factory in Sunderland.


The deal includes an option to buy a further three farms with a combined capacity of 14.61MW.

> See PFA's statement (in Danish)

Good Energy reports strong trading

Renewable power supplier Green Energy has unveiled a 36% year-on-year rise in its customer numbers to 239,750 meter points.

The London-listed company’s trading update for the six months to 30 June highlighted its over-subscribed share offer, which raised £3.1 million.

Green Energy said it will make a profit of between £430,000 and £480,000 from the sale of a 5MW solar farm.

> View Good Energy's trading update

London Mayor progresses plan to power Tube with clean electricity

The Mayor of London, Sadiq Khan, said that  City Hall has taken an important step closer to securing a license which could be used to provide ‘clean electricity’ to power TfL’s underground stations and other facilities.

Ofgem, has confirmed that the Mayor can formally advertise his application for a new type of junior electricity supply licence called ‘licence lite’, with the aim of the licence being granted in September.

 When the licence is granted, City Hall will become the first local authority in the UK to hold a special ‘licence lite’ that will allow it to buy energy from small, low and zero carbon energy generators, and sell it directly to the public sector to help meet the sector’s electricity needs.

> Read more here