New funding to accelerate offshore wind

The Offshore Renewable Energy Catapult and the Scottish Government are each investing £460,000 to expand the services available at the Levenmouth demonstration turbine in Fife.

The facility is already used to test technology for the next-generation 7MW offshore wind turbines.

The cash will allow more businesses to use the site and create a “virtual wind farm” for testing.

> Read OREC's announcement

 

District heating scheme takes shape

Developer Vital Energi has unveiled details of its £15 million district heating system in London.

The network is being developed for Energetik, the energy company owned by Enfield Council, and will link into the £6 billion Meridian Water development.

It will link to Energetik’s other networks at Arnos Grove and Ponders End.

> View Vital Energi's announcement

 

John Laing sees pipeline boost

John Laing, the infrastructure investor and developer listed on the London stock market, has increased the value of its renewable energy projects.

The schemes were worth a total of £502 million on 30 June, up 11% year-on-year.

Since then, the company has invested a further £47.6m to buy a 90% stake in the 100.5MW Buckthorn wind farm in Texas.

> See John Laing's statement

 

Greencoat buys Corriegarth project

Invenergy Renewables has sold the 69.5MW Corriegarth wind farm near Loch Ness to London-listed Greencoat Wind UK for £181 million.

Greencoat’s portfolio now provides enough electricity to power more than 550,000 homes.

The investor’s other recent purchases have included North Hoyle, Slieve Divena and a further 2.8% stake in Clyde.

> Read Greencoat's statement

 

Biomass plant in £150m funding deal

The 40MW Sleaford renewable energy plant in Lincolnshire has been refinanced by an unnamed European institutional investor in a £150 million deal.

The agreement was secured by Glennmont Partners – formerly BNP Paribas Clean Energy Partners – on behalf of one of its clean energy funds.

Some of the cash will be used to pay off loans linked to the site.

> See Glennmont's announcement