Japanese firm invests €100m in Irish renewable company

A Dublin-based energy company which plans to build a wind farm in Scotland has secured a €100 million (£86.5m) deal from a Japanese trading firm. Marubeni Corporation confirmed it would pay cash for a holding in Ireland’s Mainstream Renewable Power Ltd and take a 25% stake, becoming the second largest shareholder in the firm. The […]

Irish wind project to help ‘plug UK’s energy gap’

A wind project in Ireland will help “plug the energy gap in the UK”, according to the wind and solar company behind it. The ‘Energy Bridge’ wind park is expected to supply the UK with up to 5,000 MW of renewable energy from 2017. Mainstream Renewable Power claims the project will help create 54,000 jobs […]

Offshore wind could boost GDP by “huge” 0.6%

Economists say offshore wind could boost the UK’s gross domestic product (GDP) by a huge 0.6% and create nearly 175,000 jobs by 2030. In the short term offshore wind could boost GDP by 0.2% in the next three years. That’s according to a new report from the independent Centre for Economic & Business Research (CEBR) […]

DONG breeze into round three

Wind power experts DONG Energy has acquired a 33.3% stake in two offshore wind projects in the Hornsea zone. The £15 million purchase from the 50/50 joint venture between Mainstream Renewable Power and Siemen’s Financial Services could have a capacity of up to 1GW. Hornsea is one of nine zones being developed in the seas […]

Major firms welcome supergrid news

‘Friends of the Supergrid’, a group backing the framework to enable large-scale grid interconnection in Europe have welcomed a report from MPs supporting UK involvement. FOSG, who are likely to be involved with the design and building of the equipment, say a supergrid will be the transmission backbone of Europe’s decarbonised power sector and will […]

Supergrid appoints first chief executive

Friends of the Supergrid, an organisation formed this year by 10 global companies to push for a pan-European electricity network, has appointed its first chief executive. Ana Aguado joins the organisation from the European University Institute where she was a director. Before that she was secretary general of the Association of European Transmission System Operators. […]

Report says UK could cut carbon by 1.1bn tonnes

The first full economic valuation of the UK’s offshore renewable resources has made some startling conclusions. The Offshore Valuation states that using just one third of the UK’s wind, wave and tidal resources could unlock the electricity equivalent of 1bn barrels of oil a year, give CO2 reductions of 1.1bn tonnes by 2050 and create […]