Orsted completes sale of Hornsea stake

Global Infrastructure Partners has completed its purchase of 50% of the Hornsea 1 wind farm project from Orsted.

When it’s completed in 2020, Hornsea 1 will be the world’s largest offshore wind farm. The development will have a 1.2GW capacity supplied by 174 turbines.

As part of the deal Ørsted will construct the wind farm under a full-scope EPC contract will also provide long-term operations and maintenance services to the project from its O&M base in Grimsby.

> See Orsted's statement

 

Engie buys shares in KiWi

The founders of distributed energy resource aggregator KiWi Power have sold shares in their distributed energy resource aggregator to French utility giant Engie.

This investment follows Engie’s previous investment in KiWi Power three years ago the two firms entered into a strategic relationship to deploy demand response services and develop energy storage projects.

> Read Kiwi's announcement

 

Project finance secured for Moray East project

EDP, Engie and Diamond Generating Europe have secured finance to build their 950MW Moray East wind farm off the coast of Scotland.

A syndicate of 16 banks are financing the deal, along with Denmark’s export credit agency and the Japan Bank for International Cooperation.

Santander arranged the finance for the project, which was awarded a Contract for Difference in 2017 at a strike price of £57.50/MWh.

> View EDP's announcement

 

BT close to 100% renewables

Telecoms giant BT has revealed that it is just four percentage points away from hitting its 100% renewable energy target.

BT’s two latest supply deals have taken the figure up from 81% as the 2020 deadline for its target approaches.

The company has already pledged to become a net-zero carbon dioxide emitter by 2045 and reduce its emissions by 87% by 2030.

> See BT's statement

 

OVO Energy appointed to take on Spark Energy customers

Ofgem has selected OVO Energy to take on the customers previously supplied by the collapsed Spark Energy.

OVO won the contract to take on the 290,000 domestic customers following a competitive tender.

In a separate deal, OVO has also bought the Spark Energy brand and its operating company.

> Read Ofgem's announcement