Wednesday 27th July 2016

SunEdison yieldco acts to stop takeover

TerraForm Power has moved to prevent a share takeover by Brookfield Asset Management and hedge fund Appaloosa.

The US yieldco of troubled renewables developer SunEdison created a shareholder rights plan after Class A shareholders Brookfield and Appaloosa issued a regulatory filing outlining their intention to bid for shares held by SunEdison.

The agreement "was adopted in response to the potential sale of a significant equity stake in TerraForm Power by SunEdison,” said TerraForm Power chief executive Peter Blackmore in a statement.

Games: 460MW in India, 27MW in Brazil

Spanish turbine maker Gamesa has won orders for 487.3MW of machines in India and Brazil.

The India deals will see 230 turbines, totalling 460MW, being installed “for various clients,” Gamesa said.

Meanwhile the Brazil order, for 27.3MW of machines to equip the Vila Acre project in Brazil’s Rio Grande do Norte, is Gamesa’s first with French developer Voltalia, Gamesa comfirmed.

Senvion wins France’s first floating order

French environment and energy management agency ADEME has picked Senvion turbines for France’s first floating wind farm.

The turbine maker is adapting its 6.2M152 product for a floating platform from the Quadran-led EolMed consortium, Senvion said.

Separately, Senvion has also confirmed a 4MW order for an off-grid project in the Australian outback.

Committee warns of Scottish wind threat

A report by the Scottish Affairs Committee has said changes in UK government policy risk threatening renewables growth in Scotland.

“The removal of subsidy for onshore wind in particular, without consultation with the industry or Scottish Government, is ... particularly troubling,” said the UK Parliament's Commons Select Committee.

The committee noted Scotland now produces almost 30% of all renewable energy in the UK.

German municipal utility eyes offshore

Germany’s biggest municipal utility, Stadtwerke München of Munich, is aiming to extend its reach in offshore wind.

The energy company has already spent €3bn on renewables and owns stakes in the DanTysk, Gwynt y Mor, Global Tech I and Sandbank offshore projects, Reuters reported.

Chief executive Florian Bieberbach said SWM was planning to grow its offshore portfolio through joint ventures and might consider taking a majority holding in projects going forward.