RES to sell wind farm portfolio in Sweden to Prime Capital

UK-based renewable energy firm Renewable Energy Systems (RES) has agreed to sell its Lycksele project portfolio in Sweden to German investment firm Prime Capital.

The 290MW portfolio comprises the Fjällberg, Hornmyran and Vinliden wind energy projects. These projects are expected to come online in 2025 and will be sold for an undisclosed sum. 

In 2007, RES began development at the Lycksele portfolio in Västerbotten County. It will feature 45 wind turbines across the three projects. The portfolio is expected to supply nearly 1TWh of clean energy a year to both the region and the wider European market.

Through the development services agreement, RES will help Prime Capital make the portfolio ready for construction by next year. Once operational, RES will also provide asset management services for the portfolio.

Earlier in September, RES secured a permit to build its Spennymoor Energy Storage System in County Durham, UK.

Prime Capital official Dr Mathias Bimberg said: “Lycksele is already the third joint project with RES and a further acknowledgement of the good and trusted partnership between the parties."

Octopus Energy to buy 15.5% stake in Lincs offshore wind farm

British energy company Octopus Energy Generation has agreed to acquire an additional 15.5% stake in the Lincs offshore wind farm in the UK.

The company’s Sky fund acquired a 7.75% stake in the 270MW offshore project, while the Octopus Renewables Infrastructure Trust (ORIT) doubled its stake in the wind farm by purchasing a further 7.75%. Earlier this year, Octopus bought a 7.75% stake in the wind farm on behalf of ORIT.

With its latest acquisition, the company’s team has increased its stake in the wind farm to 23.25% on behalf of investors. The financial details of the deal have not been disclosed.

Covering a 35km² area, the Lincs offshore wind farm is located offshore from Skegness in the east of England.

The project features 75 wind turbines and has the capacity to power 240,000 UK homes while displacing more than 350,000 tonnes of carbon emissions a year. It is operated by Danish firm Ørsted and has been operational since 2013.

Octopus Energy Generation CEO Zoisa North-Bond said: “Harnessing the UK’s strong wind resources out at sea is an integral part of securing energy independence. Offshore wind farms like this help the UK wean itself off imported gas and importantly, lower energy bills.

Shell cancels offshore development deal with Simply Blue Group

Shell has decided to end its partnership with Irish renewable energy developer Simply Blue Group for the construction of the Western Star and Emerald offshore wind projects in Ireland.

In November 2021, the two companies signed an agreement under which Shell agreed to acquire a 51% stake in the Western Star venture, which aimed to develop a floating wind facility offshore from Ireland’s Clare coast. Under the agreement, both Simply Blue Group and Shell agreed to develop the 1.3GW floating wind project in two phases.

Simply Blue Group said that it will continue to focus on delivering the Emerald and Western Star projects as part of its 10GW global project pipeline. The two projects have a combined capacity of 2.65GW and will increase Ireland’s floating offshore wind power capacity.

In a statement, Shell said: “This is a portfolio decision for Shell, for whom offshore wind remains a key growth area and integral to the delivery of their Powering Progress strategy."

ENEC starts third unit of 5.6GW Barakah Nuclear Plant in UAE

The Emirates Nuclear Energy Corporation (ENEC), through its subsidiary the Nawah Energy Company, has started the third unit of the UAE’s 5.6GW Barakah Nuclear Energy Plant.

In the coming weeks, the 1.4GW unit will be connected to the UAE’s national grid ahead of its beginning commercial operations. Earlier this year, Nawah secured a 60-year operating licence from the UAE’s independent nuclear regulator for unit three of the Barakah plant.

Located in Abu Dhabi’s Al Dhafra region, the Barakah power plant will have a total of four units, each with a capacity of 1.4GW.

Nawah Energy said it had carried out a ‘comprehensive’ testing programme before starting the Barakah plant’s third reactor.

ENEC managing director and CEO Mohamed Ibrahim Al Hammadi said: “We have reached another major milestone in the delivery of the UAE Peaceful Nuclear Energy Programme today, as we move forwards with the provision of strategically significant clean energy for the UAE."

Nexans to supply subsea cable for Revolution Wind Farm in US

French cable supplier Nexans has secured a contract from Ørsted and Eversource to deliver subsea cable for the Revolution Wind Farm in the US.

This is the second time Nexans has won the contract for the supply of its export cable system to the 704MW wind farm. In March 2022, the company received the first order for installing and protecting the export cable link for the wind facility.

Located more than 24km south of Rhode Island and around 51km east of the Connecticut coast, the project will link to the US’s onshore grid.

The wind farm will generate enough power to meet the needs of more than 350,000 homes and offset nearly one million tonnes of carbon pollution.

Nexans subsea and land systems executive vice-president Ragnhild Katteland said: “Establishing our footprint in the US and furthering our commitment to the US offshore wind industry is at the core of our business operations."

Eni subsidiary Plenitude acquires stake in Hergo Renewables

Italian energy company Plenitude, a subsidiary of Eni, has partnered with independent power producer Infrastrutture to build solar and wind facilities in Spain and Italy.

Plenitude has acquired a 65% stake in Infrastrutture’s subsidiary Hergo Renewables, which currently has a 1.5GW project portfolio in the two countries. Infrastrutture will retain the remaining 35% stake in Hergo Renewables.

Infrastrutture CEO Pier Francesco Rimbotti said: “The synergies with Plenitude will enhance our know-how, as well as the portfolio of projects that we have built up in Italy and Spain over our 30 years of experience in the sector, and which we plan to expand further."

EDS wins contract for Formosa II offshore wind farm in Taiwan

EDS HV Group (EDS) has secured a multi-million pound contract to offer high voltage support services at the Formosa II offshore wind farm in Taiwan.

EDS, a subsidiary of James Fisher Renewables (JF Renewables), will support the management of the HV network and the electrical safety during the construction as well as commissioning phase of the project.

It will also be responsible to provide transitional support to wind farm operations.

The company noted that the contract commenced in mid-2021 and will run for approximately a period of 16 months.

Additionally, JF Renewables will offer training to the local workforce, creating an overseas team to oversee the project’s high voltage network.

The Formosa II offshore wind farm is jointly developed JERA, Macquarie’s Green Investment Group (GIG) and Swancor Renewable Energy. For this project, GIG is supported by Corio Generation, its portfolio company.

Once operational, the project will have the capacity to power approximately 380,000 households and help Taiwan move closer to its target of achieving 20% renewables generation by 2025.

EDS projects commissioning business manager David Orr said: “It was a real privilege to play such a crucial role at the very start of Taiwan’s journey within offshore wind – this next phase represents an exciting opportunity for the region, and we are looking forward to once more sharing our knowledge and skills with the Taiwanese.” 

KKR to invest $450m in Indian company Hero Future Energies

US-based investment firm KKR has agreed to invest $450m in Indian energy company Hero Future Energies (HFE), the renewables arm of Hero Group, to expedite its growth.

HFE will use KKR’s investment to increase its renewable energy generation capacity across various technologies, including battery storage, green hydrogen, solar and wind. The investment will also be used to expand HFE’s operations into new markets.

In May this year, KKR announced plans to acquire British power generation company ContourGlobal for $1.98bn (£1.75bn).

Based in New York, KKR provides alternative asset management, capital markets and insurance solutions for energy and other industries.

Established in 2012, HFE is an independent power producer with a 1.6GW solar and wind project portfolio. The company operates across India, Bangladesh, Vietnam, Singapore, Ukraine and the UK.

HFE Global CEO Srivatsan Iyer said: “KKR’s investment will drive Hero Future Energies’ growth in the rapidly growing renewable energy markets domestically and globally, as well as in new technologies such as battery storage, solar-wind hybrid projects, round-the-clock power, and green hydrogen, among others.

"This partnership is also a validation of our core strengths and capabilities in design and engineering, development and project execution, while achieving excellence in health, safety and environment standards.”