Wednesday 5th November 2014

TRIG plans 250million share issue

London investor The Renewables Infrastructure Group (TRIG) has announced plans to issue up to 250million of new shares to support its investment plans.

The company is planning to use a share issue to raise funds to invest in onshore wind and solar. The plan depends on TRIG winning support at an extraordinary general meeting, which is due on 24 November.

TRIG said it is currently evaluating schemes with an estimated value of more than £200m. TRIG was launched in 2013 and has since invested in 27 wind and solar projects with a total capacity of 398MW.

Transmission Capital wins £308m OFTO

Ofgem has given Transmission Capital the right to own and operate the £308m offshore transmission link to the 270MW Lincs project.

The energy regulator yesterday gave TC Lincs OFTO Ltd the licence to run the link to the offshore wind farm, which is eight kilometres off Skegness on the east coast of England.

TC Lincs OFTO Ltd is owned by Transmission Capital Partners, which is a consortium of Transmission Capital Partners LP and International Public Partnerships. Lincs is the fifth OFTO licence awarded to Transmission Capital Partners.

Sinovel: De-listing likely in early 2015

Sinovel has said its stock is likely to be delisted from the Shanghai stock exchange as it is set to record a third straight annual loss.

The Chinese manufacturer last week reported that its third quarter loss had halved year-on-year to 150m yuan ($25m) because of stronger sales. However, in a statement to the Shanghai Stock Exchange, it said that it still expected to make an annual loss in its full-year results due in early 2015.

The company has been dogged by problems with debt, low sales and project delays. It is also involved in legal disputes with US firm AMSC and China’s Huaneng Renewables.

Work starts on Lake Turkana grid link

Work has started on the transmission link for the 310MW Lake Turkana scheme in Kenya, which is Africa’s largest wind project.

The Kenya Electricity Transmission Company has started work on the 426km transmission line to connect the planned €625m wind farm to the grid. The 400kV transmission line is set to connect the project to the grid as Suswa, which is 80km northwest of Nairobi.

Construction on the 365-turbine wind farm is due to start next year, and is scheduled to complete in early 2017. It is set to provide around 15% of Kenya’s total power.

Ambienta closes €323.5m green fund

Private equity firm Ambienta has closed its Ambienta II fund after raising €323.5m, which has exceeded its target of €300m.

The investor plans to use the funds to back European firms in sectors including renewable energy. Its investee companies include FoundOcean, which provides construction services to offshore wind farms including Gwynt y Mor and West of Duddon Sands.

The investment firm has raised the funds from backers including the European Investment Fund, Generali, HarbourVest, Hermes, Pantheon, RobecoSAM, Stafford Capital Partners, Unigestion and Zurich Insurance Group.

TRIG plans 250million share issue

London investor The Renewables Infrastructure Group (TRIG) has announced plans to issue up to 250million of new shares to support its investment plans.

The company is planning to use a share issue to raise funds to invest in onshore wind and solar. The plan depends on TRIG winning support at an extraordinary general meeting, which is due on 24 November.

TRIG said it is currently evaluating schemes with an estimated value of more than £200m. TRIG was launched in 2013 and has since invested in 27 wind and solar projects with a total capacity of 398MW.

Transmission Capital wins £308m OFTO

Ofgem has given Transmission Capital the right to own and operate the £308m offshore transmission link to the 270MW Lincs project.

The energy regulator yesterday gave TC Lincs OFTO Ltd the licence to run the link to the offshore wind farm, which is eight kilometres off Skegness on the east coast of England.

TC Lincs OFTO Ltd is owned by Transmission Capital Partners, which is a consortium of Transmission Capital Partners LP and International Public Partnerships. Lincs is the fifth OFTO licence awarded to Transmission Capital Partners.

Sinovel: De-listing likely in early 2015

Sinovel has said its stock is likely to be delisted from the Shanghai stock exchange as it is set to record a third straight annual loss.

The Chinese manufacturer last week reported that its third quarter loss had halved year-on-year to 150m yuan ($25m) because of stronger sales. However, in a statement to the Shanghai Stock Exchange, it said that it still expected to make an annual loss in its full-year results due in early 2015.

The company has been dogged by problems with debt, low sales and project delays. It is also involved in legal disputes with US firm AMSC and China’s Huaneng Renewables.

Work starts on Lake Turkana grid link

Work has started on the transmission link for the 310MW Lake Turkana scheme in Kenya, which is Africa’s largest wind project.

The Kenya Electricity Transmission Company has started work on the 426km transmission line to connect the planned €625m wind farm to the grid. The 400kV transmission line is set to connect the project to the grid as Suswa, which is 80km northwest of Nairobi.

Construction on the 365-turbine wind farm is due to start next year, and is scheduled to complete in early 2017. It is set to provide around 15% of Kenya’s total power.

Ambienta closes €323.5m green fund

Private equity firm Ambienta has closed its Ambienta II fund after raising €323.5m, which has exceeded its target of €300m.

The investor plans to use the funds to back European firms in sectors including renewable energy. Its investee companies include FoundOcean, which provides construction services to offshore wind farms including Gwynt y Mor and West of Duddon Sands.

The investment firm has raised the funds from backers including the European Investment Fund, Generali, HarbourVest, Hermes, Pantheon, RobecoSAM, Stafford Capital Partners, Unigestion and Zurich Insurance Group.

TRIG plans 250million share issue

London investor The Renewables Infrastructure Group (TRIG) has announced plans to issue up to 250million of new shares to support its investment plans.

The company is planning to use a share issue to raise funds to invest in onshore wind and solar. The plan depends on TRIG winning support at an extraordinary general meeting, which is due on 24 November.

TRIG said it is currently evaluating schemes with an estimated value of more than £200m. TRIG was launched in 2013 and has since invested in 27 wind and solar projects with a total capacity of 398MW.

Transmission Capital wins £308m OFTO

Ofgem has given Transmission Capital the right to own and operate the £308m offshore transmission link to the 270MW Lincs project.

The energy regulator yesterday gave TC Lincs OFTO Ltd the licence to run the link to the offshore wind farm, which is eight kilometres off Skegness on the east coast of England.

TC Lincs OFTO Ltd is owned by Transmission Capital Partners, which is a consortium of Transmission Capital Partners LP and International Public Partnerships. Lincs is the fifth OFTO licence awarded to Transmission Capital Partners.

Sinovel: De-listing likely in early 2015

Sinovel has said its stock is likely to be delisted from the Shanghai stock exchange as it is set to record a third straight annual loss.

The Chinese manufacturer last week reported that its third quarter loss had halved year-on-year to 150m yuan ($25m) because of stronger sales. However, in a statement to the Shanghai Stock Exchange, it said that it still expected to make an annual loss in its full-year results due in early 2015.

The company has been dogged by problems with debt, low sales and project delays. It is also involved in legal disputes with US firm AMSC and China’s Huaneng Renewables.

Work starts on Lake Turkana grid link

Work has started on the transmission link for the 310MW Lake Turkana scheme in Kenya, which is Africa’s largest wind project.

The Kenya Electricity Transmission Company has started work on the 426km transmission line to connect the planned €625m wind farm to the grid. The 400kV transmission line is set to connect the project to the grid as Suswa, which is 80km northwest of Nairobi.

Construction on the 365-turbine wind farm is due to start next year, and is scheduled to complete in early 2017. It is set to provide around 15% of Kenya’s total power.

Ambienta closes €323.5m green fund

Private equity firm Ambienta has closed its Ambienta II fund after raising €323.5m, which has exceeded its target of €300m.

The investor plans to use the funds to back European firms in sectors including renewable energy. Its investee companies include FoundOcean, which provides construction services to offshore wind farms including Gwynt y Mor and West of Duddon Sands.

The investment firm has raised the funds from backers including the European Investment Fund, Generali, HarbourVest, Hermes, Pantheon, RobecoSAM, Stafford Capital Partners, Unigestion and Zurich Insurance Group.