Building Energy 1 Holdings plc (Building Energy), a global, vertically integrated, renewables-focused independent power producer will receive around €70 million (US$81 million) from ZZ Capital International Ltd (ZZCI) and Zhongzhi Capital (ZZC). The investment was structured through the subscription for mandatorily convertible bonds and equity interests.
Energy Finance & Investment News in Europe
Mainstream Renewable Power has welcomed decision by the Court of Session to clear the way to proceed with the 450MW Neart na Gaoithe offshore wind farm in Scotland (UK). This decision has involved a a long-running judicial review brought by the RSPB (Royal Society for the Protection of Birds) of a planning decision by Scottish Ministers.
EDF Energy Renewables has bought 11 wind farm sites from Partnerships for Renewables, a development and asset management company. The sites in Scotland have a potential capacity of 600 MW.
Falck Renewables S.p.A. announced today that it has entered into an agreement with Svelgen Kraft Holding AS, a Norwegian power generation company, to acquire a majority participation into Vestavind Kraft AS, a company holding two wind power consented projects in Norway – Hennøy and Okla with capacity of approximately 70MW.
The European Investment Bank (EIB) board has approved €4.3 billion (~US$5 billlion) in financing for the development of energy projects, including renewables, in Europe and India.
KGAL has announced the first closing of its core plus European renewable fund ESPF 4. With €255 million (US$294 million) of committed equity, the Luxembourg-based SICAV-SIF vehicle has attracted large commitments from four major European institutional investors.
Engie has announced it has agreed to acquire a 23% stake in Moray Offshore Windfarm (East) Limited (MOWEL) from EDPR UK Limited, an EDP Renováveis S.A subsidiary.
Arise has exercised its option right to acquire the 115 MW Svartnäs wind farm from Bergvik Skog AB. Subsequently, Arise has entered into an agreement with a fund managed by BlackRock, the world’s largest asset manager, for the sale of the project.
Copenhagen Infrastructure Partners’ new fund Copenhagen Infrastructure III has reached its third close with total commitments reaching €1.9 billion (US$2.2 billion), after only 4 months of fundraising.
With a new 20-year agreement recently concluded between Novo Nordisk, Novozymes, Kalundborg Forsyning and DONG Energy, a sustainable alternative has been found to Denmark's largest coal-fired power station unit, enabling a complete phase-out of coal in a DKK 1.2 billion ($180 million) development.
Elecnor has signed and implemented financial contracts with Bankia to finance €11.95 million, which will be invested in the Malpica de Bergantiños wind farm in La Coruña.
iCON Infrastructure has announced the first and final closing of a new €1.2 billion (US$1.37 billion) fund, iCON Infrastructure Partners IV.
Greencoat UK Wind (UKW), managed by Greencoat Capital, has announced that it has acquired Bishopthorpe Wind Farm from BayWa r.e. for a total consideration of £47 million (US$60 million).
BaltCap, the largest private equity investor in the Baltic region, has launched BaltCap Infrastructure Fund (BIF) with the planned size of €100 million (US$114 million).
Scotland-based tidal energy developer Nova Innovation has won a major new European tidal energy project, heading a consortium of nine leading industrial, academic and research organisations from across Europe.
HgCapital has sold the 288 MW Askalen onshore wind farm in Sweden to a pair of Dutch pension funds.
IPPToday #13: DONG Energy and Vattenfall secure investments in the Horns Rev 2 and Horns Rev 3 wind farms
DONG Energy and Vattenfall have initiated a common project to ensure the emergency power supply for DONG Energy's wind farm, Horns Rev 2, and Vattenfall's upcoming wind farm Horns Rev 3.
Climate Fund Managers (CFM) has announced the first close of Climate Investor One (CIO), at US$412 million.
Scottish Equity Partners (SEP) has completed a further clean energy infrastructure investment, funding the acquisition of the 9.2MW onshore wind farm at the Port of Tilbury, from SSE plc.
A development consortium led by Shell is seeking European Investment Bank funding for the up to 740 MW Borssele 3&4 offshore wind farm in the Netherlands.