Investors offered chance to back onshore wind

Arena Capital Partners, a Dublin-based developer and investor in renewable energy, is refinancing its E2 Energy portfolio of eight wind turbines in the north of England using the Abundance Investment crowdfunding platform.

The company – which has more than 70 turbines spread across Great Britain, Northern Ireland and Italy – will use the cash to buy more turbines and develop further projects.

The 16-year investment is offering a return of 5%.

> Find out more


Largest offshore turbine launched by Vestas

MHI Vestas, a joint venture between the Danish firm and Japan’s Mitsubishi Heavy Industries, has unveiled the world’s largest offshore wind turbine.

The 10MW model, which will go into operation in 2021, has 80-metre long blades, each weighing 35 tonnes.

Philippe Kavafyan, Chief Executive at MHI Vestas, said: “What was unreachable before has become the new benchmark.”

> View Vestas's announcement


Scotrenewables secures funding round

Tidal power developer Scotrenewables has secured a “multi-million pound” investment to fund the construction of its next 2MW floating turbine at the European Marine Energy Centre on Orkney.

Investors include Matthias Haag, who was chief executive of the 600MW Gemini wind farm, and Matt McGrath, who sold healthcare device designer Aircraft Medical in 2015 for $110 million.

Sian George, former Chief Executive of trade body Ocean Energy Europe, will continue to chair the company.

> See Scotrenewables's statement


Octopus nets solar deal with Korean backers

Korea Investment & Securities (KIS) is investing £107 million in Octopus Investment’s latest renewable energy fund.

The fund will buy 15 solar farms.

The deal takes Octopus’s total assets under management for institutional investors to £2.3 billion.

> Find out more about KIS


SSE ups stake in Seagreen

Fluor has sold its 50% stake in the Seagreen offshore wind projects to partner SSE.

Seagreen is developing wind farms in the firths of Forth and Tay off the east coast of Scotland.

SSE aims to bid for contracts for difference for Seagreen phase one’s alpha and bravo projects next year.

> See SSE's statement