6th March 2013

RWE curbs renewables investments

RWE has announced its 2012 financial results, with net profit down 28% to €1.3bn compared with €1.8bn the year before.

The German utility also revealed that its renewable energy unit, RWE Innogy, will invest just €1bn in 2013 and €500m during each of the following years, figures ‘much less than… originally planned’.

As a result, RWE Innogy will miss out on its 4.5GW capacity target for the end of 2014.

RWE Innogy will focus its investments on new onshore and offshore wind farms in Germany, the UK, Netherlands, Belgium and Poland.

Morgan Stanley-backed developer gets $164m Indian loan

Continuum Energy, backed by Morgan Stanley Infrastructure Partners, has been granted a $164m loan to build a wind farm in India.

According to Bloomberg, a group of lenders led by the State Bank of India has provided funding for 40 Vestas turbines.

The 175MW project will be located in Maharashtra, increasing Continuum’s wind portfolio in India from its existing 44MW of installed capacity.

UK developer expands to Sweden

John Laing has reached financial close on its self-funded 20MW Swedish onshore wind farm.

The Svartvallsberget project is the infrastructure developer’s first outside of the UK, and features ten 2MW turbines.

First power generation is expected in spring 2014.

Foundations being laid at Noordoostpolder

Siemens Nederland has selected Ballast Nedam and Mammoet to install the foundations and turbines for the near-shore Noordoostpolder project.

Ballast Nedam will engineer, supply and install the foundations for the 48-turbine wind farm by spring 2014.

Mammoet will then transport and erect the 3MW turbines in 2015.

Siemens 6MW turbines get GL go-ahead

Siemens Wind Power has received offshore prototype certification from GL Renewables Certification for testing its new 6MW offshore wind turbine at Dong Energy’s Gunfleet Sands III demonstration project in the UK.

This will be the first offshore test of the German manufacturer’s new offshore wind turbine.