Wind farm investor Greencoat raises £340m

Greencoat UK Wind, the stock market-listed renewable energy investor, has raised £340 million.

The company said its share issue was oversubscribed.

Chairman Tim Ingram said: “The proceeds will be used to pay down the company’s acquisition facility and, in turn, enable UK Wind to continue to take advantage of an attractive pipeline of opportunities.”

> Read Greencoat's announcement


Marine renewables developers win support

Six marine renewable energy developers have been awarded cash by the European Union’s Foresea’s project.

Three of them – Blackfish, Bombora and Scotrenewables – will test their technology at the European Marine Energy Centre (EMEC) on Orkney.

The funding will allow the developers to test their devices at sea.

> View EMEC's announcement


Biomass plans in refinance deal

Copenhagen Infrastructure Partners (CIP) has refinanced its two biomass projects in the UK.

Royal Bank of Scotland, Investec, Aviva Investors, and one other unnamed “major institutional investor” refinanced the £250 million package.

Sarah Wall, Senior Portfolio Manager for Alternative Income Solutions at Aviva Investors, said: “We were very pleased to work with CIP on this investment, which provides a good match for the strong demand we see from pension funds for assets that deliver reliable, long-dated cash flows with appropriate risk-adjusted returns.”

> See CIP's statement


Gondola hydro scheme completed

A hydro-electric scheme that powers a mountain gondola near Fort William has been officially opened.

The hydro project – which sits on the Allt choille Rais, a stream known to skiers and snowboarders as the “Braveheart Burn” in the “Back Corrie” of the Aonach Mor mountain – uses two 550kW turbines.

The £4 million scheme is expected to generate 3.7GWh of power each year.

> Read Nevis Range's news


Digitalisation opportunity for solar highlighted

A new report from SolarPower Europe has highlighted how digital technology could boost the solar industry.

Professor Bernd Engel, SolarPower Europe’s Digitalisation Task Force Leader, said: “Digitalisation is a major opportunity for solar, not least because it is a means of integrating more photo-voltaics into the grid, gaining system-wide benefits and new revenues for solar installations.”

Topics considered by the report include “smart solar homes”, peer-to-peer electricity trading and digitalised manufacturing.

> Download the report