To further strengthen Cornwall’s position as a leading centre for marine energy, approximately £2m of Convergence European Regional Development Funding (ERDF) has been made available for marine renewables companies. The GBI (R&D) fund is available to those currently working on concept or prototype d
Trident Energy announces completion of a second close of its funding round to finance pier-based sea trials of the company’s enabling technology for the offshore renewable energy industry. The new investment takes the total equity raised by the company since October 2012 to £1mil. This second close
Following strong demand during the book-building process, Greencoat UK Wind has placed 260 million shares, conditional on Admission, at an issue price of 100 pence per Ordinary Share in an oversubscribed offer, raising gross proceeds of £260 million, the maximum fund raise. The proceeds will be used
The UK Green Investment Bank (GIB) confirmed its first direct equity investment in offshore wind through the acquisition of a 24.95% stake in Rhyl Flats Wind Farm Limited (Rhyl Flats) from companies owned by RWE AG (RWE) for a cash consideration of £57.5m. This landmark transaction represents a sign
The Board of Heerema Fabrication Group (HFG) has announced that Arend Drenthe, Chief Financial Officer, and HFG have jointly decided to end their relationship with immediate effect. Arend Drenthe will continue his career outside the Heerema Group. “We want to thank Arend Drenthe for his contribution
Liverpool City Region LEP yesterday released a response to Budget Statement. Executive Director of Strategic Economic Development from Liverpool City Region LEP Mike Palin said: “The Budget has given LEPs a clear cue. Our task now is to create a compelling case for allocations from the Single Local
In April 2012, the auditors of public accounts asked Rigsrevisionen – the Danish National Audit Office – to investigate DONG Energy’s electricity prices and some of the aspects affecting the electricity price. The auditors of public accounts published their report Wednesday afternoon. The report det
Lamprell, a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, announces that, with immediate effect, Frank Nelson has been appointed as Chief Financial Officer and has now been appointed an executive director o
This week, Electro-tech, a specialist source and supply company servicing the energy sector, is moving into the Great Yarmouth and Lowestoft Enterprise Zone, created by the New Anglia Local Enterprise Partnership. Electro-tech offers UK and global clients a simple and cost effective way to purchase
With a loan of EUR 74 million a consortium of banks led by KfW IPEX-Bank is supporting the construction of two ultra-modern special transporters to be built at the Flensburg-based FSG shipyard for the Dutch heavy lift shipping company RollDock. KfW IPEX-Bank contributes EUR 37 million to the financi
During the development phase of Atlantic Array, RWE npower renewables have been monitoring the UK contracts they have awarded. As of the end of February 2013, 11.5% of contracts for Atlantic Array have been placed in Devon, with a further 10.9% being placed with companies located in the South West.
GL Garrad Hassan has acted as technical adviser to Mitsubishi Corporation (MC) on their recent acquisition of a 49% stake in the BorWin1 and BorWin2 German offshore high-voltage, direct current (HVDC) links. The company acted as the sole technical advisor to MC providing due diligence assessment of
Scottish Enterprise and SSE are investors in a project to develop the Port of Hunterston, for the testing of the latest full scale offshore turbine technology. Scottish Enterprise is developing one of the three test berths and is seeking initial expressions of interest from manufacturers interested
A new national network aimed at boosting the number of experienced workers entering the renewable energy workforce in Scotland was launched in Edinburgh yesterday (Tuesday 19 March). The Transition Training Network (TTN) is a new project delivered through collaboration between the National Skills Ac
