Posted on: 19/06/2018
Race Bank offshore wind farm opens
The Race Bank wind farm off the coast of Grimsby has been officially opened.
The wind farm’s 91 turbines have a combined capacity of 573MW.
Race Bank is owned by Ørsted, Macquarie European Infrastructure Fund 5, Sumitomo Corporation and funds advised by the Green Investment Group, Arjun Infrastructure Partners and Gravis Capital Management.
City of London in 100% renewables pledge
The City of London Corporation is to buy all its electricity from renewable sources from October.
The local authority, which is the governing body for the Square Mile, wants to generate electricity on sites it owns across London, invest in off-site renewable energy and buy renewable energy already available on the market.
The corporation already generates renewable electricity at a number of its sites, including the Parliament Hill Lido on Hampstead Heath and The Warren in Epping Forest.
UK Power Reserve in storage deal
Energy storage technology provider Fluence has been selected to provide batteries for the first phase of UK Power Reserve’s 120MW storage project.
Fluence will supply three 20MW units for use in the Midlands and the North West of England.
Fluence is owned by Siemens and AES.
Macquarie unveils £500m green loan fund
Australian infrastructure investor Macquarie Group has launched a £500 million green loan fund.
The lender, which bought the Green Investment Bank, said the money would initially be made available to renewable energy projects.
It added that the fund will be expanded in the future to cover energy efficiency, waste management, green buildings and clean transportation.
Textile turbine blade could increase output
A textile blade designed as part of the Offshore Renewable Energy Catapult's Innovation Challenge, could increase energy production from wind turbines by 9.7% and reduce their levelised cost of energy by 8.7%.
The component, made by ACT Blade in Edinburgh, could be up to 50% lighter and 30% stiffer than conventional fibreglass equivalents.
The company is a spin-off from racing yacht sail specialist AMAR Azure.