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Estonia to host electronic auction for offshore wind farm in Saare 1 area

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The Consumer Protection and Technical Regulatory Authority (CPTRA) of Estonia has announced an electronic auction for the development of an offshore wind farm in the Saare 1 area, located 60 km west of Saaremaa island in the Baltic Sea.  The auction will take place from January 21 to January 23, 2025. Three qualified participants—CI Estonia Wind GmbH & Co. KG, OÜ Utilitas Wind, and Oxan Energy—will compete, with a starting price of €1.32 million and…

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EU Innovation Fund backs Statkraft’s hydrogen production project in Germany

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Statkraft has been chosen to negotiate a grant of up to €107 million from the EU Innovation Fund for its project, which includes a 200 MW electrolysis plant and a 50 MW heat pump system. The project has the potential to produce 20,000 tonnes of renewable hydrogen and 50,000 MWh of green heat annually, supporting greenhouse gas reduction initiatives in Europe. Statkraft has also signed letters of intent with potential customers for green hydrogen and…

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Iberdrola acquires 88% stake in Electricity North West

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Iberdrola has finalized the acquisition of an 88% stake in UK-based Electricity North West (ENW), valuing the entire company, including debt, at €5 billion ($5.4 billion). ENW serves approximately 5 million people across northwest England, including Manchester and the Lake District, managing 60,000 km of distribution networks. This acquisition is strategically significant for Iberdrola, as ENW is situated between the existing ScottishPower network regions in Scotland and areas in Merseyside and North Wales. The move…