Posted on: 27/10/2015
Infinis to go private
Renewable energy firm Infinis is to leave the stock market under a £555m deal.
Terra Firma has agreed to pay investors 185p a share for their holding in Infinis – a premium of about 40 per cent on the closing share price before the deal was announced.
Terra Firma chief executive Guy Hands said recent changes to the regulatory landscape had prompted the firm to “rethink our strategy” for the company, which operates landfill gas and onshore wind sites.
Hybrid renewable energy parks planned
Ecotricity has announced plans to build three new hybrid renewable energy parks.
Hybrid renewable energy parks combine wind and sun generation in the same project, in the same place, using the same grid connection – a more efficient, rounded approach to green energy generation in Britain.
Ecotricity plans to add sun parks to two existing wind parks in Devon and Lincolnshire, and add a third to a wind park currently being built in Leicestershire.
EMEC signs Chinese deal
The European Marine Energy Centre (EMEC) based in Orkney, Scotland, has strengthened its ties with China having signed a Memorandum of Understanding with organisations based in Qingdao to support the development of a marine energy test site in the area.
EMEC and the University of Edinburgh, signed the MoU alongside the Ocean University of China (OUC), Qingdao National Laboratory for Marine Science and Technology (QNLM), and Qingdao Songling Power Environmental Equipment Company (QSPEEC) at the UK-China Energy Dialogue – an annual forum for UK and Chinese government, business and academic leaders to meet and discuss the strategic challenges facing their respective energy sectors.
The MoU states intent to share knowledge and carry out fundamental research to establish a wave energy test site in Qingdao.
ScottishPower supply profits down
ScottishPower’s supply and generation business saw earnings before interest, taxes, depreciation, and amortisation fall to €250m in the first nine months of the year, down 17.8% on the equivalent month period in 2014.
It blamed the drop mainly on the “significant impact on gross margin of the carbon tax, increased cost of Renewable Obligations Certificates and feed in tariff costs. Generation from coal was also down 20.8%.
But the UK renewables business delivered EBITDA for the first nine months of €301m, which is twice the €150m achieved in the same period in 2014, reflecting increased production as well as appreciation of Sterling against the Euro.
Danish interconnector moves forward
National Grid Interconnector and Energinet.dk have started the process to appoint a marine contractor to carry out sea bed surveys between England and Denmark for the joint Viking Link interconnector project.
The appointment, which is expected to be early next year, marks a major step forward for the proposal to build a 1400 megawatt electricity interconnector between the two countries.
The successful tenderer will carry out geophysical surveys and sampling to pinpoint areas of environmental and archaeological interest and help identify the best route for the marine cables and suitable landing locations.