Low Carbon affirms climate action commitment with B-Corp status

15.01.20

15 January 2020: Low Carbon has announced today its certification as a registered B Corporation joining a select group of renewable energy and asset managers with B-Corp status.

B Corporations (or B Corps) are a growing group of companies who are reinventing business, by legally committing to consider social and environmental impact as well as financial return.

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Orkney Wind Projects Secure Contracts

20.09.19

20 September 2019. The Orkney Islands host some of the best wind resource in the world and we are delighted to have secured Contracts for Difference (CfD) for our Costa Head and Hesta Head projects. Combined, the projects will contribute nearly 40MW of commercial scale island wind, enough power to supply approximately 23,000 homes each year.

Earlier this week, Ofgem conditionally approved a 220MW transmission link from the Orkney islands. Ofgem’s approval is conditional on a total of 135MW of new wind farm projects on Orkney being awarded a CfD or being financially viable by December 2021. The new electricity link will enable new wind farms and tidal arrays on Orkney to send electricity to the mainland. The new interconnector is a key strategic priority of the Orkney Islands Council and these new wind farms are critical to realising that goal.

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VLC Renewables reaches financial close on first phase of 500MW onshore wind farm

25.07.19

 25 July 2019. VLC Renewables (VLCR)†, the Jersey-based Fund established by Low Carbon and Vitol to invest in renewable energy generation, and LongWing Energy S.C.A. (LongWing) have reached financial close on the first phase of the 500MW Zaporizhia onshore wind farm in southeast Ukraine. Once constructed, the wind farm is expected to be one of the top five largest operating onshore wind generators in Europe powering more than 780,000 homes.

The first phase of the wind farm will have a capacity of 98MW and will be supplied with 27 General Electric (GE) 3.6-137 turbines. Commercial operation is expected to commence in Q2 2020. The wind farm will sell its power into the Ukrainian market through a Power Purchase Agreement (PPA) with a Ukraine state-owned enterprise and will benefit from a 10-year fixed rate feed-in tariff.

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