Drax Group Plc, Dong Energy A/S and SSE Plc will get guaranteed power prices for U.K. biomass and offshore wind plants, the first renewable energy projects to benefit from a new aid program.
Royal Dutch Shell Plc, Europe’s biggest oil company, postponed a project designed to recover more natural gas from its Ormen Lange field offshore Norway, citing higher costs and doubts on reserves.
The U.K. Green Investment Bank placed 461 million pounds ($767 million) into two wind farms off the British coast to help the developers recycle their cash back into new projects.
Siemens AG, Europe’s largest engineering company will invest 160 million pounds ($264 million) in a wind turbine factory in northern England to tap the world’s biggest offshore wind market.
Centrica Plc, the biggest energy supplier to U.K. households, is leading a group that agreed to pay 1.1 billion euros ($1.5 billion) for Bord Gais Energy from Ireland’s state-owned energy company.
Dong Energy A/S, the world’s biggest offshore-wind developer, acquired the rights for three yet-to- be-built wind farms in Dutch waters from SSE Plc.
After weeks of turmoil that ended in street protests and a government split, Dong Energy A/S Chief Executive Officer Henrik Poulsen says a cash infusion from Goldman Sachs Group Inc. will resurrect the Danish utility.
Birds, sharks and unexploded bombs from World War II are being blamed for holding up offshore wind farms, raising doubts about the costs of the technology.
The yield on Dong Energy A/S’s hybrid bond declined in Copenhagen trading after Denmark’s biggest utility reported rising profits and improving cash flow.
Dong Energy A/S will install Vestas Wind Systems A/S’s biggest wind turbines at an offshore power generation plant in U.K. waters in what would be the first order for the 8-megawatt machine.