Centrica to gradually exit wind power

05/02/2016 00:57 Renewable

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Centrica, largest household energy supplier in Great Britain, and its joint venture partner EIG Global Energy Partners have decided to sell three UK wind farms for a total of 423 million pounds ($616 million) to a consortium including the UK Green Investment Bank Offshore Wind Fund and other funds managed by BlackRock.

The transaction is in line with Centrica’s strategy to dispose of its interests in wind power generation, while continuing to purchase 100% of power and 50 % of the renewable obligation certificates (ROCs) from the three wind farms under existing power purchase agreements until 2024. It will also provide operations and maintenance assistance up to March 2017. After paying off debt, Centrica will get around £115m in net proceeds from the deal. The power plants are the Glens of Foudland onshore 26-MW wind farm located in Aberdeenshire, Scotland and the 194- megawatt Lynn and Inner Dowsing offshore wind farms are located off the coast of north-east Lincolnshire, England.

Daily (31.03.2020): Oil prices plummeted to 18-year lows on Monday as demand suffers an unprecedented decline

31/03/2020 10:51:00

Crude oil prices crashed to fresh 18-year lows on Monday as growing fears over the coronavirus pandemic eroded demand, while the Saudi Arabia-Russia price war threatened to overload the market. Brent crude collapsed by 8.7% to close at $22.76 a barrel, the lowest settlement since November 2002. Meanwhile, the U.S. WTI crude plunged by 6.6% to end at $20.09 a barrel.

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Vestas wins 109MW French fancy

31/03/2020 09:28:00

Vestas has secured a turbine order totalling 109MW from an undisclosed customer in France for an unnamed wind farm.

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Poland State Gas Distributor Says It Wins $1.5 Billion From Russia's Gazprom In Price Dispute

31/03/2020 09:23:00

Poland’s largest distributor of natural gas has announced it won a years-long energy-supply price dispute with Russia’s state-run Gazprom worth $1.5 billion at an international arbitration court in Sweden.

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