Latvia's Gas Utility Sales Volumes Fall in 2014
Latvia's gas utility Latvijas Gaze sold 10.9 percent less natural gas imported from Russia in 2014 than a year before, the company said on Wednesday. Sales fell to 1.3 billion cubic metres (bcm) due to warmer weather and as more gas was switched for woodchips for heating, the company said when reporting its full-year results. Germany's E.ON wants to sell its 47.2 percent stake in the Latvian utility, which is 34 percent owned by Russia's Gazprom. The Russian firm is the sole supplier of gas to the Baltic country. Latvijas Gaze Chief Executive Adrians Davis confirmed on Wednesday that European infrastructure fund Marguerite was negotiating with E.ON. "There is a buyer - Marguerite. The buying and selling process is taking place at the moment ...
Siemens to Supply Eighty N. Sea Wind Turbines
Siemens contracted by Germany's wpd group to supply & install 80 wind turbines for the Butendiek offshore wind power plant. The agreement also covers a long-term maintenance contract for a period of ten years, the first of its kind for an offshore wind project. Siemens is to provide a new logistics concept that includes a service operation vessel specially developed for deployments to offshore wind facilities. The order volume including service is more than EUR 700-million. When the Butendiek offshore wind power plant off Germany's North Sea coast comes online in 2015…
Greenfield Fund Takes Stake in German Wind Farm
The Marguerite Fund has acquired a 22.5% stake in the German greenfield Butendiek offshore wind farm. The Butendiek project is a 288 MW greenfield offshore wind farm located in the North-Sea in the German exclusive economic zone, 32 km west of the German Island of Sylt, and consisting of 80 Siemens 3.6 MW wind turbines. The start of the offshore construction works is scheduled for Spring 2014 and installation of the wind turbines is planned to take place between Autumn 2014 and Summer 2015. When commissioned the wind farm will produce 1,290 GWh p.a., enough to supply the equivalent of some 370,000 households with electricity each year. The cost of the project is estimated to be €1.3bn.
