Wednesday 9th April 2014


April 9, 2014

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Senvion grows working capital to €850m

Senvion has secured €850m of working capital from a group of 14 financiers led by BayernLB, Commerzbank and Deutsche Bank.

The German manufacturer, which is a subsidiary of Indian firm Suzlon, agreed the three-year loan to refinance €750m of credit facilities due to expire this August. The €100m increase is a boost to Suzlon, which has struggled with debts over the last few years.

Suzlon is also understood to be considering floating Senvion, formerly known as Repower, on the London Stock Exchange.

Wind spend levels at $73.5bn in 2013

Total investment in wind power held steady at $73.5bn in 2013, according to research by Pew Charitable Trusts.

The US-based non-governmental body reported in its study 2013: Who’s Winning the Clean Energy Race? that 38% of total wind investment, or $27.9bn, was directed at the Chinese market.

The country deployed wind power totalling more than 10GW last year, with 12.1GW of solar power.

Tories admit 2020 onshore ban plan…

Conservative Party chairman Grant Shapps has given the party’s first public indication that it is planning a ban on new onshore wind farms from 2020.

He told a group of journalists on Monday that the party feels wind farms “blight” the countryside and are best located offshore. This is the clearest indication yet that the party is to pledge a ban on onshore wind farms in its 2015 general election manifesto.

However, the party is also expected to step up the development of offshore wind farms and grow the use of solar panels.

…as Germany approves energy reforms

German chancellor Angela Merkel yesterday approved a package of reforms to Germany’s renewable energy laws.

This confirms the government’s plan to reduce green subsidies; to slow the expansion of onshore wind power, at 2.5GW capacity growth per year; and limit total offshore wind to 6.5GW by 2020.

It has also committed to grow the share of energy from renewable sources from around one quarter now to 55%-60% by 2035.

Atkins picked for 580MW substation

Dong Energy has awarded Atkins the contract to design the substation for its 580MW Race Bank offshore wind farm.

The Danish developer bought the project from utility Centrica for £50m in December. Dong has already appointed Atkins to design substations at its Walney and Burbo Bank projects.

The developer is aiming to cut the cost of offshore wind by up to 40% by 2020, and it wants Atkins to help it implement this with standardised approaches to substation designs.

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