German renewables firm Siemens Gamesa is planning to build a $500m facility in New York state which will manufacture turbine nacelles for its offshore wind power projects along the US east coast. 

In a statement dated February 13, Marc Becker, CEO of the company’s offshore wind business, described the decision as “a major step forward in our desire to lead the massive US offshore wind market.”

The planned facility will be located at the Port of Coeymans, near Albany, and will create up to 420 direct jobs. Siemens Gamesa said the investment is subject to its wind turbines being selected in New York’s latest offshore wind solicitation in which the state will procure between two gigawatts (GW) and 4.7GW of new generation capacity.

Golden visa scheme scrapped

Ireland’s immigrant investment programme will be closed from today, February 15, the government announced yesterday. The abrupt closure brings an end to the decade-long programme which offered residency in exchange for investment. The government had approved €1.25bn worth of investments under the scheme, it said in a statement dated February 14.

The scheme was established “during a time of unprecedented economic difficulty to stimulate investment in Ireland,” said justice minister Simon Harris in the same statement. “However, it is important that we keep all programmes under review — including any implications for wider public policy, such as the continuing appropriateness and suitability of this programme,” he added

The decision was made after taking on board numerous reports including those by the European Commission which has criticised golden visa schemes. The closure will not impact existing applications.

Heineken to leave Russia within months

Dutch beer-maker Heineken is making progress in its exit from Russia, which the company announced following last year’s invasion of Ukraine. 

In a release dated February 15, announcing its 2022 year-end results, the company said: “We continue to make progress to transfer the ownership of our business in Russia whilst dealing with frequently changing regulations. We remain optimistic in our ability to reach an agreement in the coming months.” 

On March 28, when Heineken announced its decision to leave Russia, the company anticipated impairment and other non-cash charges of €400m. Based on its current assessment, the firm recorded an €88m impairment for 2022.