Money Buzz! Europa

Tag: wind farm

  • MET Group acquires a second wind park in Bulgaria

    MET Group acquires a second wind park in Bulgaria

    Swiss-based energy company MET Group has acquired a 100% stake in a 60-megawatt wind park in Bulgaria, from Spanish Grupo Enhol.

    The closing of the transaction for the 60MW Suvorovo Wind Park in Western Bulgaria, along the Black Sea coastline, is expected to take place in Q3 2021.

    Suvorovo Wind Park, representing 8,5% of the total installed wind capacity in Bulgaria, consists of 30 units of Gamesa G90 wind turbines – 2 MW capacity each.

    The wind farm, operating since 2012, produces approximately 120 GWh of electricity per year, supplying power equivalent to the consumption of around 38.000 households.

    With this acquisition MET will expand its operating wind portfolio in Bulgaria to 102 MW.

  • PNE Group sold Hultema wind farm project in Sweden

    PNE Group sold Hultema wind farm project in Sweden

    Swedish wind farm Hultema with a planned nominal capacity of around 60 MW, which was developed by the PNE Group, has been sold to the Swiss infrastructure fund Reichmuth Infrastruktur II KmGK.

    Hultema wind farm is located in the southern part of Sweden and when completed will comprise of Siemens-Gamesa 6.0-155 wind turbines.

    The wind farm was developed by the Swedish WKN subsidiary VKS Vindkraft Sverige AB, which belongs to the PNE Group.

    Construction started in February 2021 and this will be managed by the PNE Group as a service provider on behalf of the buyer. Commissioning is planned for mid-2023.

  • Denmark to build an artificial island to house wind turbines

    Denmark to build an artificial island to house wind turbines

    The Danish government has secured broad political support for the largest construction project ever launched in Denmark, an artificial island that will house wind turbines, Bloomberg reports.

    In the first phase, the island will make enough electricity to supply three million households.

    The 210 billion kroner ($ 34 billion) artificial island with an area of ​​120,000 square meters will be built at about 80 kilometers from the west coast of Denmark.

    The project is projected to be completed by 2033 and will initially be able to supply 3 gigawatts of electricity. However, the plans aim to increase production capacity to 10 gigawatts.

    In 2018, about 41% of Denmark’s electricity needs were covered by wind turbines made energy, the highest percentage in Europe.

  • Met Group acquires a 42 MW wind park in Bulgaria

    Met Group acquires a 42 MW wind park in Bulgaria

    Swiss-based European energy company MET Group has completed the acquisition of a 100% stake in Enel Green Power Bulgaria EAD, which owns a 42-megawatt wind park in Bulgaria.

    The 42 MW wind park located in North-eastern Bulgaria is now wholly owned by MET Group, following the successful completion of a share and purchase transaction with Italian Enel Green Power as seller.

    The transaction was completed on 20 January 2021, and was cleared by the Bulgarian and Serbian competition authorities.

    The wind park, the 5th largest in Bulgaria, is located in the municipality of Shabla and Kavarna, with 14 units of Vestas-V90 wind turbines (3 MW capacity each).

    The wind farm, operating since 2010, supplies power equivalent to the consumption of around 30,000 households.

  • Eni will pay 405 million pounds for a 20% stake in the UK Dogger Bank project

    Eni will pay 405 million pounds for a 20% stake in the UK Dogger Bank project

    Eni enters the world’s largest offshore wind project with the acquisition of a 20% stake in the UK Dogger Bank (A and B) 2.4 GW project.

    The project involves the installation of 190 state-of-the-art turbines situated approximately 80 miles from the British coast.

    Each turbine has a capacity of 13 MW for a total capacity of 2.4 GW.

    At full capacity, Dogger Bank (3.6 GW) will be the world’s largest project of its kind, generating around 5% of UK demand for renewable electricity and supplying energy to approximately 6 million British families.

    The construction of the Dogger Bank (A and B) is expected to cost a total of £6 billion and will take place in two stages, with the first to be completed by 2023, and the second by 2024.

  • Polish government to restructure the utilities and mining sector

    Polish government to restructure the utilities and mining sector

    Polish government seeks to restructure the utilities and mining sector with a view to balancing environmental and social aspects, Moody’s latest report shows.

    The recent agreement between mining unions, the state and the largest miner, PolskaGrupaGornicza (PGG), heralds an end to domestic coal mining by 2049 as a precedent of state support is set.

    Solar power is growing strongly from a small base thanks to subsidies for households. Offshore wind is expected to start generating electricity from 2025 onwards.

    75% of Polish electricity was generated by coal and lignite in 2019

    Polish utility sector has a high reliance on coal and lignite, with around 75% of electricity generated from these fuels in 2019.

    Carbon intensity of Poland’s GDP has fallen 40% over the past decade, but is still higher than other EU countries.

    The National Energy and Climate Plan to 2030, submitted to the EU Commission, foresees a gradual reduction of coal and lignite fuels.

    The latest draft of the Polish Energy Plan 2040 foresees the share of coal in electricity generation at 37%-56% in 2030 and 11%-28% in 2040. Solar installations and offshore wind will be the main replacements.

    In the first eight months of 2020, electricity consumption in Poland declined by 4.4% from a year earlier, whereas generation fell by 7.2%.

    The decrease in power generation was disproportionately borne by coal and lignite plants, where output fell by 12.9% and 11.5%, respectively.

    Poland’s interconnection capacities with its neighbours have increased since 2015, resulting in cheaper wind and hydropower from Germany, Sweden (directly and via Lithuania) as well as nuclear power from the Czech Republic competing in the Polish market.

    More capacity will be added through the Baltic Synchronisation project, which will synchronise the Baltic countries’ grids with Western Europe, with Poland serving as an important gateway.

    No offshore wind before 2025 at the earliest

    Initial Polish offshore wind capacity is planned to come online from 2025.

    The government has therefore sped up its efforts to pass a legislative framework for offshore wind installations, which we expect to come into force by early 2021.

    Large utilities have started to team up with experienced European developers, such as EquinorNew Energy(Baa1 negative), Iberdrola(Baa1 stable) and Orsted (Baa1 stable).

  • MET Group acquires a 42 MW wind park in Bulgaria

    MET Group acquires a 42 MW wind park in Bulgaria

    Swiss-based energy company MET Group has acquired a 100% stake in a 42-megawatt wind park in Bulgaria, after signing a share purchase agreement with Italian Enel Green Power.

    The wind park is located close to Kavarna, in North-eastern Bulgaria. The closing of the transaction is expected to take place before the end of December 2020.

    The wind park, the fifth largest in Bulgaria, consists of two sites in the municipality of Shabla and Kamen Bryag, with 14 units of Vestas-V90 wind turbines – 3 MW capacity each.

    The wind farm, operating since 2010, supplies power equivalent to the consumption of around 30.000 households.

  • PGE Group launched two new wind farms, Starza/Rybice and Karnice II

    PGE Group launched two new wind farms, Starza/Rybice and Karnice II

    The investment project in the north-western part of the West Pomeranian Voivodeship, Poland, comprises 43 turbines with a total installed capacity of nearly 100 MW.

    The project has increased the total installed capacity of PGE’s wind farms by 20 percent to near 647 MW and strengthened the group’s position as the Poland’s largest manufacturer of green energy.

    Within the framework of the project implemented in the area of Kamień Pomorski and Gryfice Poviats, 33 wind turbines with a nominal capacity of 2 MW and 10 wind turbines with a capacity of 2.2 MW were built together with the accompanying infrastructure and a grid connection in the form of two substations.

    For the foundations of all the wind turbines, 16,340 m³ of concrete (more than 1,800 courses of concrete trucks) and 2,120 tons of reinforcing steel (more than 8 Boeing 787 Dreamliner passenger aircraft) were used.

    The turbines, each weighing about 260 tons, were mounted on 110 and 125 meter towers respectively. Their blades made of laminate (glass fibre/resin mixture) are 100 or 110 metres long in diameter.

  • Enel Green Power starts construction of wind farm expansion in U.S.

    Enel Green Power starts construction of wind farm expansion in U.S.

    Enel Green Power started construction on the 199 MW expansion of the Cimarron Bend wind farm in Clark County, Kansas.

    The expansion, consisting of 74 turbines, will increase the wind farm’s capacity to 599 MW from the current 400 MW, making it the largest wind farm in Enel’s North American portfolio.

    Construction, which will involve an investment of over 281 million US dollars, is expected to be completed by the end of 2020.

    Cimarron Bend’s first two phases entered into service in 2016 and 2017, involving an overall investment of over 891 million US dollars

    Upon completion of the 199 MW addition, Cimarron Bend will generate a total of more than 2.7 TWh per year, equivalent to avoiding 1.8 million tons of CO2 emissions.

    The electricity from a 150 MW portion of the expansion is being sold under a 15-year bundled power purchase agreement (PPA) with electric services company Evergy.

    In January, Evergy committed to reducing carbon emissions 80% below 2005 levels by 2050.

    Across the US and Canada, Enel Green Power is constructing nearly 1 GW of new wind and solar capacity in 2020. Other Enel Green Power construction projects include the 245 MW second phase of the Roadrunner solar project in Texas, the 236.5 MW White Cloud wind project in Missouri and the 299 MW Aurora wind project in North Dakota.