THE FRIDAY NOTE: Iberdrola quits 1.8-GW wind project off Scotland and the rest of the week's top picks

Dec 13, 2013 – In the past week ScottishPower Renewables (SPR) drops a 1.8-GW offshore wind scheme in Scotland, while SSE gets nod for a 600-MW pumped-storage HPP, EIB lends EUR 500 million to Tennet for offshore wind lines and GDF sells half of 440-MW French wind portfolio.

On Friday SPR, a unit of Spain’s Iberdrola (MCE:IBE), said it would abandon the up to 1,800-MW Argyll Array wind project off the Scottish coast after explicit technical and environmental site studies showed that the project would not be viable in the next 10 years. Instead, the company will focus on the development of other wind projects such as the 389-MW West of Duddon Sands and the up to 1,200-MW East Anglia I schemes, in which it partners with Denmark’s Dong Energy and Swedish utility Vattenfall, respectively.

Still there were good news too from Scotland today as the government gave the go-ahead to a pumped-storage hydropower plant (PSHPP) proposal with a capacity of up to 600 MW. It will be built by energy group SSE Plc (LON:SSE) in the Scottish Highlands. Energy Minister Fergus Ewing lauded pumped storage’s importance for the stability of the power grid and also noted that such plants facilitate the addition of more renewable power capacity, especially wind.

More details on: http://renewables.seenews.com/news/iberdrolas-spr-drops-1-8-gw-wind-project-off-scotland-394986
and on: http://renewables.seenews.com/news/scotland-okays-sses-600-mw-pumped-storage-hpp-plan-394955

EIB SIGNS EUR-500M LOAN FOR TENNET OFFSHORE WIND CONNECTIONS

Offshore wind is much more than turbines at sea and the European Investment Bank (EIB) knows that. The lender and Dutch transmission system operator Tennet on Monday signed a EUR-500-million (USD 687m) loan to help finance high voltage direct current (HVDC) line projects that will connect to the German grid as much as 2,200 MW of offshore wind farms. Construction is already in progress, with completion planned for 2014 and 2015.

More details on: http://renewables.seenews.com/news/eib-signs-eur-500m-loan-for-tennet-offshore-wind-connections-394050

SUZLON'S REPOWER BAGS 266 MW OF TURBINE ORDERS IN GERMANY

On the supply side, Indian wind turbine maker Suzlon Energy Ltd (BOM:532667) said Wednesday its unit Repower Systems SE had won contracts to supply more than 266 MW of wind turbines for 24 community wind projects in the German state of Schleswig-Holstein. Repower was competing for supply deals for total of 52 projects in the state and won orders for 55% of the capacity.

More details on: http://renewables.seenews.com/news/suzlons-repower-bags-266-mw-of-turbine-orders-in-germany-394424

GDF TO SHED HALF OF 440-MW WIND PORTFOLIO, NSW IS SELLING 105 MW OF WIND, HYDRO

In France gas utility GDF Suez (EPA:GSZ) said Monday that a unit of French banking group Credit Agricole (EPA:ACA) would buy 50% of its subsidiary Futures Energies Investissement Holding (FEIH) which has 440 MW of onshore wind power assets in its portfolio. The deal is expected to be completed in the first quarter of 2014, cutting GDF Suez’s debt by EUR 400 million.

Far from France, the New South Wales state government Monday called for expressions of interest for the sale of about 105 MW of wind and hydropower plants. The move was expected bring USD 90 million in proceeds, according to The Sydney Morning Herald. The assets for sale include the 58-MW Hume, the 28-MW Burrinjuck and the 6-MW Keepit hydropower stations, as well as the 10-MW Blayney wind park and a stake in the 5-MW Crookwell wind farm.

More details on: http://renewables.seenews.com/news/gdf-to-shed-half-of-440-mw-french-wind-portfolio-to-credit-agricole-394172
and on: http://renewables.seenews.com/news/new-south-wales-to-shed-105-mw-of-wind-hydro-report-393926

SOLARGIGA, SADA PLAN 200-MW SOLAR PROJECT IN GHANA

On the solar front, Chinese photovoltaics (PV) maker Solargiga Energy Holdings Ltd (HKG:0757) and the Savannah Accelerated Development Authority (SADA) agreed to form a 10/90 joint venture to install 200 MW of solar capacity in Ghana. The partners plan to start with a 40-MW phase I solar park. “With the full support of the Ghana government and abundant solar resources secured in Africa, establishing solar power plants in Ghana is a good start for the Group to tap into the continent,” said Solargiga chief executive You Yuan Hsu said in a statement on Monday.

More details on: http://renewables.seenews.com/news/solargiga-sada-plan-200-mw-solar-project-in-ghana-394420

(EUR 1 = USD 1.373)

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