Wednesday 20th January 2016


January 20, 2016

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Abu Dhabi bank makes $10bn RE pledge

The National Bank of Abu Dhabi has pledged to invest $10bn in clean energy projects over the next ten years.

The bank is set to invest in projects worth over $100m in the West-East corridor, which is a region stretching from Africa, through the Middle East, to Asia. The pledge is in response to the ‘Financing the Future of Energy’ report, which the bank published last year.

The report claimed that $48trn of investment was required over the next 20 years to meet global energy demand, half of which should be in clean energy projects.

Japan’s NEDO backs 270MW offshore

Japanese government-backed firm NEDO has announced plans to support 270MW of offshore projects in northern Japan.

The New Energy and Industrial Technology Development Organisation, which is an industrial R&D firm, plans to subsidise project costs for two wind farms: a 170MW project off the port of Noshiro in northern Akita, which Marubeni and Obayashi are developing; and a 100MW project off the northern island of Hokkaido, which Green Power Investment has undertaken.

NEDO is also set to help assess project costs, evaluate wind resources and conduct environment impact assessments for the projects in an effort “to accelerate the commercialisation of offshore wind power” in Japan.

CWEA: China installed 30.5GW in 2015

The Chinese Wind Energy Association has released preliminary statistics showing China installed 30.5GW of wind farms in 2015.

This annual figure is up 31.5% from the 23.2GW added in 2014. It is based on installation numbers provided by turbine manufacturers operating in China, and does not include offshore data.

Developers in China were under pressure to install turbines before the feed-in tariff rate was reduced on January 1 2016, and China’s installed capacity, if figures are correct, is now around 145GW.

RWE freezes £800m UK investment

RWE Innogy has put 12 UK projects on hold as it waits to hear whether they will be able to secure subsidies for them.

RWE Innogy, the renewables arm of German utility RWE, scrapped nine UK projects in October, after the government announced plans to reduce subsidies and restrict planning permission for wind projects. Twelve projects in Wales and Scotland, representing a total of 400MW and £800m of investment, are now on hold too.

Hans Bünting, chief executive of RWE Innogy, said it had “stopped all further investment” into the UK and frozen its development pipeline in the country as it awaits an announcement from the Department of Energy & Climate Change.

BNDES to end Alstom suspension

Brazil’s National Development Bank has announced that Alstom will regain its local content accreditation status in March.

BNDES suspended French firm Alstom from its list of turbine makers eligible for financing from the bank in October, because one of its turbines failed to meet local content requirements.

GE, which took over Alstom’s operations after a €12.4bn deal in November, is one of four manufacturers including Vestas, Enercon and Alstom seeking to acquire local content accreditation status from BNDES. Vestas officially opened its hub and nacelle plant at Aquiráz in the Brazilian state of Ceará on Monday.

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