ERG acquires 224 MW of wind projects in Germany

28/06/2019 09:05 Wind


Italian energy company ERG SpA said today it has closed the acquisition of a 224-MW wind power pipeline from German firm Windwaerts Energie GmbH.

The enterprise value of the transaction amounts to EUR 4 million (USD 4.5m), comprising an upfront payment and deferred success fees related to the development of the pipeline. The vendor is a fully-owned subsidiary of MVV Energie AG.


Through its subsidiary ERG Power Generation SpA, the Italian company has bought a total of 13 wind projects at various stages of development, four of which are at a more advanced stage. Located in the northern states of Lower Saxony and Schleswig-Holstein, the wind farms are expected to be able to produce over 3,000 equivalent hours on average upon completion, ERG stated.


Daily (12.08.2019): European spot power prices plummeted by nearly 70% on Friday due to a surge in renewables output

12/08/2019 11:16:00

Oil prices continued to climb on Friday, in response to weaker Euroilstock data, which showed a decrease in the total crude and product inventories of 16 European countries in July. Prices also drew support from OPEC supply cuts and Saudi Arabia’s commitment to bring the oil market back to balance. Hence, Brent crude rose by 2% to $58.53 a barrel. Concurrently, WTI futures surged by 3.7% to $54.50 a barrel, on lower production growth forecasts after U.S. drillers slashed the active oil rig count for a sixth straight week.


Tullow makes first oil discovery on Orinduik license offshore Guyana

12/08/2019 09:03:00

Tullow Oil has made an oil discovery at its Jethro-1 exploration well, drilled on the Orinduik license offshore Guyana.


Akuo wins 370 MW in Portugal's PV tender with a record-low bid

12/08/2019 09:00:00

French renewable power producer Akuo Energy SAS confirmed on Thursday it had been awarded 370 MW of solar photovoltaic (PV) capacity in Portugal’s recently held tender.