Trump urges Farage to fight UK wind
Incoming US president Donald Trump has reportedly urged Nigel Farage and other Brexit backers to campaign against UK wind.
The New York Times has reported an interview with Andy Wigmore, who worked for the Leave.EU campaign in the UK’s referendum on membership of the European Union in June. He said Trump urged Farage and other top Leave campaigners, including Aaron Banks, to campaign against UK wind at a meeting this month. Wigmore added that Trump had “spurred us on and we will be going for it”.
Trump is a prominent anti-wind campaigner and a long-standing objector to Vattenfall’s plan to build an 11-turbine offshore testing centre in Aberdeen Bay, off the coast of Scotland. Trump said the European Offshore Wind Deployment Centre would ruin views from his nearby golf resort, but lost a case in the UK’s Supreme Court in 2015. Trump pledged to take his fight to the European courts.
Vattenfall last week shortlisted projects for the offshore test centre.
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Enel plans €2bn share buyback…
Italian utility Enel has announced a €2bn share buyback and higher dividends for the next three years as it seeks to woo investors.
The firm announced the plans as it revealed its strategy for 2017 to 2019 yesterday. Enel’s dividend payments are set to rise to 65% of net ordinary income in 2017, up from a target of 60% in its previous strategic plan; and 70% in 2018 and 2019, up from 65%. Enel has spent two years restructuring, which has boosted its ability to make more ambitious promises, chief executive Francesco Starace said.
Enel also committed to develop 6.7GW of additional renewables over the next two years; and invest €4.7bn in digitising its schemes to make them more efficient.
…and converts GE tie-up into JV
Enel Green Power and GE Energy Financial Services are to convert their partnership in North America into a joint venture.
The companies launched the partnership, Enel Green Power North America, in 2015 as a way to actively manage Enel’s portfolio of 46 wind, solar, hydo and geothermal assets in North America. Enel Green Power currently owns 51% of EGP NA with GE holding the other 49%, but this deal will convert it into a 50:50 joint venture.
Francesco Venturini, chief executive at Enel Green Power, said that on completion of the transaction, Enel would deconsolidate debts of $500m. This would reduce Enel’s risk profile and enable it to increase investment in its pipeline of projects globally.
Explore the archive, including our profile of Francesco Venturini.
Senvion buys blade expert Euros
German manufacturer Senvion has bolstered its blade development operations by buying specialist manufacturer Euros.
The company has completed an all-cash transaction for Euros, which is based in Germany and Poland, for an undisclosed sum. As well as its head office in Berlin, Euros has a research centre in Żory-Warszowice and a factory in Ustron, both in Poland. Overall, Euros employs around 210 people.
The deal represents further consolidation in the manufacturing supply chain, and it follows General Electric’s €1.5bn acquisition of LM Wind Power last month.
Chile: Ibereolica and EDF close 115MW
Spanish energy company Ibereolica and France’s EDF havereached financial close on a 115MW wind project in Chile.
Reuters has reported that the partners have secured funding from France’s Crédit Agricole, Japan’s Sumitomo Mitsui Banking Corporation, and Norway’s DNB to build the planned Cabo Leones I project at the southern edge of Chile’s Atacama Desert.
The project is set to require total capital expenditure of $200m, of which around $140m is debt. None of the parties has commented.
The Inflation Reduction Act has sparked major optimism in the US renewables sector, but wind installations still fell 37% last year.