Norway’s Sovereign Wealth Fund Acquires Stake In 573 MW Race Bank Offshore Wind Farm
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
A consortium made up of investment funds belonging to Australia-headquartered Macquarie Asset Management and Spring Infrastructure Capital has reached an agreement to divest a 37.5 per cent stake in the 573 MW Race Bank offshore wind farm in the UK to Norges Bank Investment Management.
These four paragraphs give more details of the deal.
The stake was sold to the Norwegian sovereign wealth fund for approximately GBP 330 million (about EUR 390.6 million).
According to Norges Bank Investment Management, the fund acquired Macquarie European Infrastructure Fund 5’s 25 per cent stake and Spring Infrastructure 1 Investment Limited Partnership’s 12.5 per cent interest in the Race Bank offshore wind farm.
A Macquarie Capital and Macquarie European Infrastructure Fund 5 consortium acquired a 50 per cent stake in Race Bank during the construction phase in 2016. Macquarie Capital divested its 25 per cent stake in the wind farm in 2017.
With the deal, Arjun Infrastructure Partners will remain co-investor for 12.5 per cent of the wind farm and Ørsted will remain a 50 per cent owner and operator of Race Bank.
These are my thoughts.
The Location of Race Bank Wind Farm
This map from the Outer Dowsing Web Site, shows Race Bank and all the other wind farms off the South Yorkshire, Lincolnshire and Norfolk coasts.
From North to South, wind farm sizes and owners are as follows.
- Hornsea 1 – 1218 MW – Ørsted, Global Infrastructure Partners
- Hornsea 2 – 1386 MW – Ørsted,Global Infrastructure Partners
- Hornsea 3 – 2852 MW – Ørsted
- Hornsea 4 – 2600 MW – Ørsted
- Westernmost Rough – 210 MW – Ørsted and Partners
- Humber Gateway – 219 MW – E.ON
- Triton Knoll – 857 MW – RWE
- Outer Dowsing – 1500 MW – Corio Generation, TotalEnergies
- Race Bank – 573 MW – Ørsted,
- Dudgeon – 402 MW – Equinor, Statkraft
- Lincs – 270 MW – Centrica, Siemens, Ørsted
- Lynn and Inner Dowsing – 194 MW – Centrica, TCW
- Sheringham Shoal – 317 MW – Equinor, Statkraft
- Norfolk Vanguard West – 1380 MW – RWE
Note.
- There is certainly a large amount of wind power on the map.
- Hornsea 1, 2 and 3 supply Humberside.
- Hornsea 4 will supply Norwich and North Norfolk.
- Norfolk Vanguard West would probably act with the other two wind farms in RWE’ Norfolk cluster.
- Ignoring Hornsea and Norfolk Vanguard West gives a total around 4.5 GW.
- There are also two 2 GW interconnectors to Scotland (Eastern Green Link 3 and Eastern Green Link 4) and the 1.4 GW Viking Link to Denmark.
I wouldn’t be surprised to see a large offshore electrolyser being built in the East Lincolnshire/West Norfolk area.
The primary purpose would be to mop up any spare wind electricity to avoid curtailing the wind turbines.
The hydrogen would have these uses.
- Provide hydrogen for small, backup and peaker power stations.
- Provide hydrogen for local industry, transport and agriculture,
- Provide hydrogen for off-gas-grid heating.
- Provide methanol for coastal shipping.
Any spare hydrogen would be exported by coastal tanker to Germany to feed H2ercules.
Do We Need Wind-Driven Hydrogen Electrolysers About Every Fifty Miles Or so Along The Coast?
I can certainly see a string along the East Coast between Humberside and Kent.
- Humberside – Being planned by SSE
- East Lincolnshire/West Norfolk – See above
- North-East Norfolk – See RWE Goes For An Additional 10 GW Of Offshore Wind In UK Waters In 2030.
- Dogger Bank – See RWE Goes For An Additional 10 GW Of Offshore Wind In UK Waters In 2030.
- Sizewell – See Sizewell C And Hydrogen.
- Herne Bay – Under construction
I can see others at possibly Freeport East and London Gateway.
Hybrid And Over 1.100 kW Strong: Rolls-Royce Presents New mtu Propulsion Concepts For Military Vehicles Of The Future
The title of this post, is the same as that of this press release from Rolls-Royce.
These two paragraphs detail some of the philosophy and features behind the hybrid power units.
Electrification and hybridisation will give tactical vehicles new capabilities in the field. To this end, Rolls-Royce’s new mtu hybrid drive combines the advantages of a high-performance diesel engine with those of a battery-electric drive. The highly integrated propulsion system requires comparatively little installation space in the vehicle in order to maximise the volume available for equipment and crew. The core of the solution is a highly mobile and extremely compact drive solution, taking into account increasing cost pressure, tight budgets and the need for significantly larger vehicle fleets.
For quiet operation, for example in a concealed position, the high-performance batteries previously charged in diesel mode, supply the vehicle’s electrical and electronic systems. This is done without the noise and thermal footprint of the diesel engine – and over a longer period of time. This makes the vehicle more difficult to locate for enemy reconnaissance. The so-called “anti-idling” mode not only ensures better camouflage of the vehicle, but also significantly reduces fuel consumption when the vehicle is on standby. The range of the vehicles and the downstream logistics chain for refuelling the vehicles are optimised.
Hopefully, power concepts like these will lead to highly capable fighting vehicles, that will defeat the threats we face from the East.
But surely, as hybrid power develops and embraces the use of clean fuels like green hydrogen and green methanol, power units like these will be found in other applications, both on land and on the sea.
And how about a hydrogen-hybrid rail locomotive to haul trains in noise-sensitive areas!
The Anonymous Widower 