29 September 2022

Vattenfall is developing a large wind power project off the coast of Germany

After exercising its right of first refusal, Vattenfall has been awarded the task of developing the offshore wind power project N-7.2 off the German North Sea coast. The project is located 85 km from the island of Borkum. The fully developed wind farm will produce 980 MW and the project is expected to produce fossil-free electricity to meet the electricity needs of more than one million German households. The connection of the wind farm to the German grid is likely to take place sometime in 2027, following a final investment decision by Vattenfall.In Germany, Vattenfall also operates the "DanTysk" and "Sandbank" wind farms.

Press Release 

Soltech Energy's offering oversubscribed

The solar industry is growing rapidly. Soltech Energy needs more capital to meet demand and has therefore completed a rights issue of SEK 228 million, excluding issue costs. Following the over-subscription of the issue, the Board of Directors decided to issue an additional 3,797,020 shares by way of an over-allotment. This was done at a subscription price of SEK 11 per share and added SEK 41 million to the company before issue costs. According to the press release, the cost of the issue was approximately SEK 28 million. The offer is 100% guaranteed by a consortium of guarantees consisting of Swedbank.

DAGENS PS

Vestas selected as preferred supplier for 1.2 GW Baltic Power offshore wind project in Poland

Baltic Power Sp. z o.o, a joint venture between PKN ORLEN SA and Northland Power Inc. has selected Vestas as the preferred turbine supplier for the 1.2 GW Baltic Power offshore wind project in Poland. Vestas will supply 76 V236-15.0 MW turbines for the Baltic Power project, which is located 23 kilometres off the Polish Baltic coastline near Łeba. With a sweep area of over 43,000 square metres, the V236-15.0 MW offers industry-leading performance and extends the range of wind energy production to up to 80 GWh/year, enough to power around 20,000 European homes and emit over 38,000 tonnes of CO2, which is equivalent to removing 25,000 passenger cars from the road each year.

Press Release 

Piiparnmäki wind farm with a total capacity of 211 MW officially opened in Finland

The 211 MW wind farm at Piiparnmäki, which has 41 turbines, was opened today. It has a 10-year contract with Google to use the electricity generated by 24 turbines. The Piiparnmäki wind farm was completed by Glennmont Partners in close cooperation with Ilmatar Energy. as well as day-to-day operations. As part of the ongoing project management and support for local sustainable development projects, the wind farm owners have developed a programme to benefit the community, which provides EUR 100,000 per year in financial support for local projects. These projects must aim to improve the lives of people living near the Piiparnmäki wind farm through projects that benefit the environment, the community or the local economy.

Findance

What we're reading

• Australia's largest carbon emitter to exit coal by 2035 (France24, RenewEconomy)
• ECB's Rehn warns against excessive energy expenditure (Reuters)
• Group of 15 EU nations demand gas price cap (Montel)

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