Glennmont to buy 25% stake in Gode Wind 1 offshore windfarm

03/07/2019 09:45 Wind


London-based fund manager Glennmont Partners has entered an agreement to acquire a 25% stake in the Gode Wind 1 offshore windfarm in Germany from Global Infrastructure Partners II (GIP II).

Glennmont Partners said that the acquisition is the first offshore wind investment to be realised from the company’s €850m Clean Energy Fund III, which achieved final close in June.


Gode Wind 1 is a 330MW operating offshore windfarm in the German North Sea. It is currently held in a joint venture between GIP II and Ørsted, a Danish offshore windpower company. Ørsted has a 50% stake each in the Gode Wind 1 power plant.


In addition to Ørsted having a 50% stake in the windfarm, the joint venture company provides operations and maintenance services, as well as a route to market for power production.


Daily (09.08.2019): Oil prices rebounded by nearly 3% on Thursday, due to a firmer yuan and hopes for additional OPEC output cuts

09/08/2019 11:15:00

Oil prices strengthened on Thursday, rebounding from an earlier low, after Saudi Arabia showed readiness to discuss with other producers about the recent slump in crude prices. The prospect of additional output cuts from OPEC, coupled with a steadying yuan, supported prices. As a result, Brent crude rose by 2.1% to $57.38 a barrel. At the same time, WTI futures spiked by 2.8% to $52.54 a barrel, boosted by a fall in inventories at Cushing, Oklahoma, in the week to August 6.


Belarus and Russia authorize 3.7% increase in oil transportation tariff as from 1 September

09/08/2019 08:53:00

Belarus and Russia have come to an agreement on raising the tariff on transporting oil across the Belarusian territory by 3.7% as from 1 September, the press service of the Belarusian state petrochemical concern Belneftekhim told BelTa after negotiations on 6 August.


Iberdrola secures its first 149 MW of solar in Portugal

09/08/2019 08:50:00

Spanish power utility Iberdrola SA confirmed Thursday it had been awarded 149 MW of solar photovoltaic (PV) capacity in Portugal’s recently completed solar auction.