ABB_id2059
in News Departments > Projects & Contracts
print the content item

The UK Green Investment Bank (GIB) has announced two equity investments totaling 461 million British pounds in the U.K. offshore wind sector.

Specifically, GIB is investing alongside Japan's Marubeni Corp. to jointly purchase a 50% stake in the 210 MW Westermost Rough offshore project from DONG Energy. GIB is committing about half of the funds to the approximately 500 million British pound transaction.

GIB has also agreed to acquire a 10% stake in the of 576 MW Gwynt y Mor offshore wind project from RWE Innogy. The purchase price is 220 million British pounds.

"The U.K. has ambitious plans to build on its position as a world leader in offshore wind. We have two roles to play in supporting those plans,” says Shaun Kingsbury, chief executive of GIB. “Firstly, to directly invest to help developers recycle their capital into the next wave of new renewable energy projects. Secondly, to invest on fully commercial terms to create a demonstration effect which others will follow."



IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015