Dudgeon Offshore Wind Bags $1.77B Refinancing
One of the world’s largest offshore wind projects, the 402-megawatt (MW) Dudgeon offshore wind farm in the U.K., announced the signing and pricing of privately placed notes for the refinancing of the project’s existing non-recourse project debt, with financial close expected next week. The original financing for Dudgeon was successfully closed in May 2016.The refinanced debt consists of approximately GBP1.27 billion ($1.77 billion) in fully-amortizing senior-term loans, comprising around GBP561 million in commercial debt and a GBP706 million private placement of senior secured notes…
Ofgem Grants Offshore Wind Licence to Dudgeon OFTO
The government regulator for gas and electricity markets in Great Britain Office of Gas and Electricity Markets (Ofgem) has granted TC Dudgeon OFTO plc a licence for the link to the Dudgeon offshore wind farm.The licence allows Dudgeon to own and operate the GBP297.9 million (USD 391 mln) high-voltage transmission link to the Dudgeon offshore wind farm for the next 20 years.Transmission Capital Partners, a consortium comprising International Public Partnerships Limited, Amber Infrastructure Group and Transmission Investment…
Top Five Trends in Offshore Wind
As technologies mature and dramatic cost-cutting continues, the future is looking bright for offshore wind. Below are five trends to keep an eye on.Follow the LeaderOffshore wind’s established leader, Europe, will continue to show the way forward and build capacity. At the end of 2016, nearly 88 percent of the world’s offshore wind installations were located in European waters. In 2017, Europe saw a record 3,148 MW of net additional offshore wind capacity installed, with 560 new offshore wind turbines across 17 wind farms, according to WindEurope.
World’s First Floating Wind Farm Starts Production
The world's first offshore floating wind farm has started to deliver electricity to the Scottish grid, providing power to approximately 20,000 households. The 30MW Hywind Scotland wind farm, operated by Statoil in partnership with Masdar 25 kilometers offshore Peterhead in Aberdeenshire, Scotland, was officially opened today by First Minister of Scotland, Nicola Sturgeon. “This marks an exciting development for renewable energy in Scotland,” First Minister Sturgeon said. “The learnings from Hywind Scotland will pave the way for new global market opportunities for floating offshore wind energy.
IFC Plans $2 bln Investment in Egyptian Infrastructure, Power
The World Bank's development arm plans to invest between $1.2 billion and $2 billion in Egypt over the next four years, including around the Suez Canal, its regional director told Reuters. The International Finance Corporation is looking at ports and logistics projects, Mouayed Makhlouf, the IFC's director of Middle East and North Africa, said in an interview. The government is building a second waterway to accelerate trade flows through the canal, already one of Egypt's major sources of foreign currency. Besides infrastructure and energy projects, IFC is working with United Arab Emirates' renewable energy company Masdar and Saudi Arabia-based power and water project developer ACWA Power…
MIT Launches Consortium to Improve Infrastructure Cybersecurity
The MIT Sloan School of Management launched the Interdisciplinary Consortium for Improving Critical Infrastructure Cybersecurity, also known as (IC)3, yesterday. Using an interdisciplinary research approach, (IC)3 focuses on the strategic, managerial, and operational issues related to cybersecurity, and invites businesses to join the consortium. “The cybersecurity of our critical infrastructure is a serious national security challenge," said MIT Sloan Dean David Schmittlein. (IC)3…
UK Throttle Back on Two Offshore Wind Projects
Forewind, in agreement with The Crown Estate has revised the current development potential for the total capacity of the wind energy projects in the Dogger Bank Zone from 9 gigawatts (GW) to 7.2 GW. At the same time, the consortium behind London Array has announced it will not proceed with the development of Phase 2 of the offshore wind farm. The revision has been made following more than four years of offshore and onshore surveys and assessments, which have concluded that the…
London Array Offshore Windfarm Asset Disposal
DONG Energy A/S London Array, a joint venture owned by DONG Energy (50%), E.ON (30%) and Masdar (20%), have announced an agreement for the sale of transmission assets at the world’s largest offshore wind farm to Blue Transmission London Array Limited. London Array Wind Farm is located around 20 km off the coasts of Kent and Essex on a 100km2 site. Its 175 Siemens 3.6MW turbines have a combined capacity of 630MW and are expected to produce enough electricity to power over half a million UK homes each year. The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime. Following a competitive tender, Blue Transmission London Array Limited was in September 2012 selected by Ofgem as preferred bidder for the London Array offshore transmission licence.
London Array Offshore Windfarm Inaugurated
The world's largest offshore wind farm (OWF) London Array has 175 Siemens wind turbines installed. Together with Dong Energy, Siemens will also be responsible for the service of the wind turbines through a long-term agreement. The wind power plant owned, developed and built by a consortium consisting of Dong Energy, E.ON and Masdar has a total capacity of 630 megawatts (MW) and will generate enough power to supply 500,000 British households with clean electricity. This offshore wind farm will reduce annual CO2 emissions by approximately 900…
Masdar CEO Receives UN Eco Award
The award recognises Masdar's work in deploying renewable energy projects including Shams One, a 100MW concentrated solar power plant in Abu Dhabi; London Array, a 1GW offshore wind farm, and Gemasolar, a 20MW concentrating solar thermal plant. Abu Dhabi’s renewable energy company, Masdar, invests in clean technologies, deploys renewable energy projects and is building a city that adheres to the most rigorous sustainability standards. Masdar also invests in intellectual and human capital through the Masdar Institute of Science and Technology. Organised by United Nations Environment Programme (UNEP), the award seeks to honour individuals whose actions and leadership have made a far-reaching positive impact on the environment. “I am honoured to be a recipient of this prestigious award.
Sener New Office in Abu Dhabi
Sener Ingeniería y Sistemas, S.A. has opened a new office in Abu Dhabi, in the United Arab Emirates. This new office is located in the Gulf Business Centre district of downtown Abu Dhabi and will be Sener’s local headquarters to develop projects in the power and process sector, the civil engineering and architecture sector, as well as the aerospace sector. Sener began to take an interest in the business opportunities available in the emirate of Abu Dhabi in 2007, when the company made its first contacts there. This led to the creation of Torresol Energy in March 2008.