Firering Strategic Minerals: From explorer to producer. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksINFI.L Share News (INFI)

  • There is currently no data for INFI

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Infinis Energy Buys Onshore Wind Farm Project In Northumberland

Tue, 23rd Jun 2015 06:50

LONDON (Alliance News) - Renewable energy company Infinis Energy PLC on Tuesday said it has struck a deal to acquire an 18.5 megawatt consented onshore wind farm project in Northumberland.

Infinis, which was relegated from the FTSE 250 in the latest quarterly review, said it has acquired the project from Peel Group and said it neighbours the 8 megawatt Sisters Wind Farm project, which was developed by Infinis.

Both the new wind farm and the Sisters project are at an advanced stage of pre-construction, Infinis said, and it expects grid energisation to take place in June 2016.

Last week, UK Secretary of State for Climate Change Amber Rudd said the government, a year ahead of schedule, had scrapped the Renewables Obligation which is the primary of three subsidies for onshore wind farms, claiming the country has enough onshore wind in the pipeline.

The Renewables Obligation was introduced in 2002, and places an obligation on UK electricity suppliers to source an increasing proportion of the electricity they provide to businesses and households from renewable sources.

However, Rudd also said there would be a grace period until April 1, 2016, to "protect investor confidence", which would continue to give access to support under the Renewables Obligation to those projects which already have planning consent, a grid connection offer and acceptance, and evidence of land rights for the site on which their project will be built.

Infinis Energy released no financial details of its latest acquisition Tuesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

More News
6 Jul 2015 05:16

Dividends Calendar - Week Ahead

Read more
3 Jul 2015 14:59

Dividends Calendar - Week Ahead

Read more
3 Jul 2015 05:14

Dividends Calendar - Week Ahead

Read more
2 Jul 2015 15:25

Dividends Calendar - Week Ahead

Read more
23 Jun 2015 11:31

Infinis Energy acquires 18MW wind farm from Peel Group

Renewable energy company Infinis Energy has reached a deal to acquire an 18.5 megawatt consented onshore wind farm project in Northumberland from Peel Group. Along with the 8 megawatt Sisters Wind Farm project developed by Infinis, which neighbours the newly-acquired project, the facility is at an a

Read more
23 Jun 2015 07:23

LONDON BRIEFING: Ladbrokes Jumps 11% On Gala Coral Merger Talks

Read more
18 Jun 2015 15:56

2nd UPDATE: UK Government Scraps Onshore Wind Farm Subsidies

Read more
18 Jun 2015 14:02

UPDATE: UK Government Scraps Onshore Wind Farm Subsidies

Read more
12 Jun 2015 16:03

Infinis Secures GBP83 Million Financing To Build Galawhistle Wind Farm

Read more
12 Jun 2015 11:45

Broker tips: Whitbread, Compass Group, Infinis Energy

Canaccord Genuity has lifted its recommendation on Costa and Premier Inn owner Whitbread from 'hold' to 'buy', saying it sees upside with the group on track to hit its medium-term targets. Analyst Nigel Parson said Whitbread's market-leading positions via Premier Inn and Costa mean the company is "w

Read more
5 Jun 2015 12:58

FTSE 250 movers: Betfair hit by downgrade, oil and energy stocks higher

Mid-caps were under pressure on Friday, following news that OPEC would not curb oil production and that Greece had opted to defer payment on €300m owed to the International Monetary Fund until Friday. Sector-wise gains made by oil, energy and mining stock were eradicated by weakness in telecommunica

Read more
4 Jun 2015 15:10

Aggreko demoted as Inmarsat joins FTSE 100

Temporary power provider Aggreko was a casualty of the latest quarterly FTSE 100 review, demoted to the 250 index as satellite company Inmarsat enjoyed a promotion. Aggreko has a market capitalisation of around £3.95bn, whereas Inmarsat has a market value of around £4.53bn. Banknote printer De La R

Read more
4 Jun 2015 07:23

LONDON MORNING BRIEFING: Horse Hill Companies Shares Suspended

Read more
3 Jun 2015 16:23

Inmarsat To Replace Aggreko In FTSE 100 Amid Host Of FTSE 250 Changes

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.