Masdar set to acquire stakes in two wind farms in the US
The United Arab Emirates-based company, Masdar, has announced it is set to purchase stakes in two wind farms in the United States, according to Arabian Business.
Known also as the Abu Dhabi Future Energy Company, Masdar confirmed it will acquire John Laing Group’s stakes in its initial North American renewable energy investment.
It is anticipated that the deal will reach completion during the first half of 2019, however, Masdar didn’t reveal the value and size of the stakes acquired.
“Extending our reach into the United States is a defining moment for Masdar’s clean energy operations and a further step forward in our efforts to expand the company’s global renewable energy portfolio, which now encompasses more than 25 countries,” said Mohamed Jameel Al Ramahi, CEO of Masdar.
“The United States provides excellent commercial potential in the long-term, with a record 6.3 per cent of the country’s electricity generated from wind in 2017. We aim to increase our investments in the US in the next few years as we continue to strengthen our current partnerships and explore new business opportunities.”
Following the close of the deal, Masdar will own interest in a partnership with Akuo Energy - the France-based renewable power producer.
“We are pleased to have partnered with Akuo on Rocksprings and Sterling wind projects. This investment realisation with Masdar will release capital to recycle into new greenfield opportunities in the US and internationally where we remain committed to our strategy investing in renewable energy and other infrastructure,” added Olivier Brousse, John Laing's CEO.
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.