ENERGY

Nordex has Received Orders from Energiequelle in Finland for 68 MW of Wind Power

Nordex | April 08, 2021

Nordex got orders from the worldwide breeze ranch designer Energiequelle for the stock and development of twelve N163/5.X breeze turbines in Finland. The orders for the breeze ranches "Takanebacken" and "Torvenkylä" likewise incorporate a drawn-out Premium Service contract for the turbines covering 30 years.

The 28.5 MW "Takanebacken" wind ranch will be inherent in the district of Maalahti in the western Finnish locale of Ostrobothnia. The 39.9 MW "Torvenkylä" wind homestead will be developed 250 km north close to the city of Kalajoki.

The Nordex Group will supply the N163 wind turbines in the cool environment rendition on cylindrical steel towers with center statures of 148 and 118 meters. The turbines will be introduced and associated with the matrix throughout 2022.

"Takanebacken" and "Torvenkylä" are two subsequent ventures of the two organizations in Finland. The Nordex Group is presently introducing the 29.96 MW "Konttisuo" wind ranch for Energiequelle in the district of Soini. In the Southern Ostrobothnian district, seven N149/4.0-4.5 turbines will be introduced.

"We are extremely satisfied that Energiequelle has by and by decided on our turbine innovation and this time for the N163/5.X. This turbine type is undeniably appropriate for the breeze states of the two destinations," says Patxi Landa, CSO of the Nordex Group.

"The great participation on our present ventures, however overall the persuading further advancement of the Delta4000 stage, which is ideally custom-made to the requirements of the two task destinations, were conclusive for our ruling for Nordex," says Nils Borstelmann, CEO of Energiequelle Oy.

Since 1997, Energiequelle GmbH has been universally dynamic as a venture designer and administrator of wind energy, biomass, and photovoltaic plants just as substations and storage spaces. The administrative center of the organization is Kallinchen close to Berlin, further areas are in Bremen, Oldenburg, Hannover, Putlitz, Penzing, Erfurt, Dresden, Rostock, Leipzig, Guntersblum just as Rennes, Dijon and Royan (France) and in Helsinki (Finland). With more than 300 workers and above 750 constructed plants with an absolute limit of approx. 1,400 MW, Energiequelle is a main organization in the business.

The Group has introduced more than 35 GW of wind power limit in more than 40 business sectors and produced deals of around EUR 4.6 billion out of 2020. The Company presently has over 8,500 workers. The Group's assembling network remembers plants for Germany, Spain, Brazil, the USA, India, and Mexico. Its item portfolio is essentially centered around inland turbines in the 4 to 5.X MW class which are intended to meet the market necessities of nations with restricted accessible space and districts with restricted matrix limit.

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SOLAR+STORAGE

Risen Energy expands Power Purchase Agreement with BHP to further cut Nickel West's emissions

Risen Energy | August 23, 2021

Risen Energy has expanded its 10-year renewable power purchase agreement (PPA) for their Merredin Solar Farm from 20MW to 50MW of electricity to BHP's Nickel West operations. Commencing on 1st August, the additional 30MW will be directed to BHP Nickel West's Kalgoorlie Smelter and reduce the smelters Scope 2 emissions by 30%. This follows the initial 20MW which will be directed to BHP Nickel West's Kwinana Refinery and will cover up to 50% of its electricity use with solar power generated by Risen Energy's Merredin Solar farm. BHP Nickel West Asset President, Jessica Farrell said, "Increasing our offtake from 20 to 50 per cent from the Risen solar farm will enable us to reduce our emissions from electricity use at the Kalgoorlie Nickel Smelter by 30 per cent. This is another example of the steps we are taking to reduce emissions across our operations - 30 per cent by 2030 and net zero by 2050. Sustainable low carbon nickel is essential for our battery and electric vehicle customers." Eric Lee, Risen Energy Australia's Executive Director, said: "We appreciate the trust BHP Nickel West has placed in us and Merredin Solar Farm and we are grateful for the opportunity to further provide clean energy for their operations. This collaboration demonstrates Risen's position as an industry-leading solar energy solutions provider and it is also a significant step for us as we work towards establishing more clean energy collaborations with reputable organisations committed to Australia's efforts to decarbonise". Mr Lee added that Risen has a few projects in the pipeline and that the organisation is well on track to achieve their goal of being a leading developer in solar and battery energy storage solutions. As part of this goal and also their long-term goal of achieving '2GW' in Australia, Risen has been developing and improving their in-house expertise to respond to the evolving needs of the market and improvements in technology, especially in relation to hybrid solar and BESS projects.

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INDUSTRY UPDATES

Caterpilla Announces Three-year Project With District Energy St.Paul

Caterpilla | June 01, 2022

Caterpillar Inc. recently announced its collaboration with District Energy St. Paul in Minnesota for a three-year project to test a hydrogen-fueled combined heat and power (CHP) system. The U.S. Department of Energy is supporting and partially funding the research, which is endorsed by the National Renewable Energy Laboratory. "Caterpillar is focused on supporting our customers with reliable, sustainable power solutions, This hydrogen demonstration project will enable us to evaluate additional hydrogen fuel options for an existing energy-efficient engine, providing even more possibilities for helping our customers meet their climate-related goals and objectives." -Joe Creed, Caterpillar group president of Energy and Transportation. Caterpillar's CHP systems supply both energy and heat at the same time, enhancing overall efficiency and lowering emissions. The demonstration project's electricity and heat will be integrated into District Energy St. Paul's electrical and thermal infrastructure to examine the feasibility of a hydrogen-fueled CHP system under real-world operational conditions. District Energy St. Paul heats and cools buildings and single-family houses in downtown St. Paul, Minnesota, and the surrounding area with chilled and hot water. The demonstration project, which is set to begin early next year, draws on Caterpillar's 35 years of experience with high-hydrogen fuel. The company has a 1250 kW Cat® generator set that can run on 100% hydrogen, including fully renewable green hydrogen. It also has commercially available power generation solutions that can run on natural gas mixed with up to 25% hydrogen, ranging from 400 kW to 4.5 MW.

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ENERGY

Ares Management Corporation Announces Agreement to Acquire AMP’s PrivateMarketsCo Infrastructure Debt Platform

Ares Management Corporation | December 27, 2021

Ares Management Corporation (“Ares”), a leading global alternative investment manager, announced that its subsidiary, Ares Holdings L.P., has entered into a definitive agreement to acquire AMP’s PrivateMarketsCo Infrastructure Debt platform (“Infrastructure Debt”), one of the largest infrastructure debt investment platforms globally with approximately US$8 billion in assets under management, as of September 30, 2021. The transaction consideration is A$428 million (US$308 million) and will be funded using cash on hand and Ares’ US$1.1 billion revolving credit facility. The Infrastructure Debt team is led by its Global Head, Patrick Trears, and has 17 dedicated investment professionals located across London, Sydney, Singapore and New York. The team has established a strong risk-adjusted, long-term track record investing approximately US$9 billion of capital across nearly 60 transactions globally with a focus on the digital, utilities, transportation and renewable energy sectors. With a leading reputation among sponsors and developers, the team brings robust direct investment origination and high-quality deal flow capabilities. Given its strong positioning and the compelling market dynamics, the Infrastructure Debt platform has been a leading fundraiser over the past five years with support from a global investor base of approximately 100 institutional investors. This transaction adds complementary investment capabilities to Ares’ current activities in the rapidly growing infrastructure asset class. The Infrastructure Debt team is anticipated to expand and enhance Ares’ existing infrastructure strategy, which has historically focused on value-add equity and flexible capital across the power and climate infrastructure sectors. As part of Ares, the Infrastructure Debt team will be positioned to benefit from the advantages of Ares’ scaled global platform that includes its leading private credit franchise. This combination is expected to bolster future investment, market intelligence and fundraising efforts. We are pleased to announce this acquisition of a highly complementary infrastructure debt platform. We believe that this strategic combination will further propel our infrastructure investment capabilities and expand our global footprint.The team shares a similar credit mindset with Ares, and our infrastructure leadership has enjoyed a great relationship with Patrick and other senior leaders for over a decade. Together we believe we are well-positioned to leverage the full scale of the Ares platform and relationships to provide optimal capital solutions for our investment partners and generate attractive risk-adjusted returns for our investors.” Michael Arougheti, Chief Executive Officer and President of Ares Upon closing of the transaction, Infrastructure Debt will be led by Patrick Trears and will be reported as part of a new segment for Ares called the Ares Real Assets Group. This segment will also include Real Estate led by Bill Benjamin and Infrastructure Equity led by Keith Derman and Andrew Pike. The Ares Real Assets Group would represent approximately US$48 billion of assets under management as-adjusted for the transaction, as of September 30, 2021. The transaction is expected to be immediately accretive to Ares’ after-tax realized income per share of class A common stock. It is expected to close in the first quarter of 2022 and is subject to customary closing conditions, including satisfaction of applicable regulatory requirements. Morgan Stanley & Co. LLC acted as financial advisor to Ares and Kirkland & Ellis LLP and DLA Piper served as legal counsel. Broadhaven Capital Partners acted as financial advisor to PrivateMarketsCo and Nixon Peabody served as legal counsel.

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