Tag: wind power

Boost for UK’s clean energy transition as The Crown Estate to proceed with programme to increase capacity of seven offshore windfarms

Stuart Mitchell

In a boost to the UK’s clean energy transition and energy security The Crown Estate is proceeding with its Capacity Increase Programme to maximise the potential of existing offshore wind lease areas, potentially generating enough energy to power up to four million homes and create economic growth for the UK. An additional 4.7GW of energy could be generated from the delivery of the programme by amending existing seabed rights to increase the capacity of seven fixed-bottom offshore windfarms located around England and Wales. This decision supports the UK’s Government’s target…

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BNP Paribas signs an agreement with the EIB that will generate up to €8 billion in Wind Energy Investments

Stuart Mitchell

BNP Paribas has signed an agreement with the European Investment Bank (EIB) that will stimulate up to €8 billion of funding for wind energy projects across the European Union. This initiative will unlock key investments to support new wind farm projects, supply chain efficiency and improved grid interconnections, therefore accelerating wind energy development and ultimately increasing production. Under the agreement, the EIB has extended a €500 million counter-guarantee, enabling BNP Paribas, global leader in sustainable finance[1], to establish a €1 billion portfolio of bank guarantees designed to back new investments in wind…

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New wind farm featuring UK’s largest onshore turbines has capacity to provide up to a third of Sainsbury’s electricity

Stuart Mitchell

Sainsbury’s is celebrating the completion of a brand-new wind farm in Scotland. It will add up to 50 megawatts (MW) of electrical capacity to the grid in the form of renewable energy that will be used to power Sainsbury’s stores, offices and depots nationwide, giving a major boost to the retailer’s ambition to become Net Zero in its own operations by 2035. Sainsbury’s commitment to the future of Longhill Burn Wind Farm will see the retailer invest millions of pounds in the renewable energy it produces over the next 15…

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Octopus Energy backs global offshore wind developer

Stuart Mitchell

Octopus Energy’s generation arm announces its investment in Deep Wind Offshore, an international offshore wind developer with a pipeline of projects in Norway, Sweden, and South Korea. All three countries have vast wind resources and strong governmental support for offshore wind. The company is aiming to build 10 GW of new offshore wind by 2032, with 2 GW exclusively developed in South Korea. Deep Wind Offshore was founded in Norway and is backed by leading Norwegian shipping and energy companies Knutsen OAS, Haugaland Kraft, and Sunnhordland Kraftlag. Since launching in…

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UK Offshore Wind reaches new record high and is on track to generate enough electricity to meet the needs of nearly half of UK homes

Stuart Mitchell

Offshore wind farms in UK waters generated enough power to meet the electricity needs of 41% (11.5m) of the nation’s homes in a new record year in 2022, according to the latest Offshore Wind Report from The Crown Estate. In total Offshore Wind generated 45TWh of electricity last year, up from 37TWh in 2021 and a sixfold increase over the past 10 years, and is estimated to be generating enough electricity to meet the needs of nearly half (47%) of UK homes by the end of the current year. The…

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