Wind turbine manufacturer Siemens Gamesa has recorded EUR 760 million net loss in the first quarter of the financial year 2023, driven largely by charges due to a negative development of failure rates in specific components detected during the evaluation of the installed fleet. This has led to charg
King Charles III has asked that the Royal Family’s share of The Crown Estate’s earnings from the Round 4 offshore wind seabed leasing “be directed for wider public good”, UK media reports. As reported on 19 January, all six winners of the latest UK seabed auction have now signed Agreements for Lease
World’s leading offshore wind developer Ørsted expects operating profit (EBITDA) for 2022 to total DKK 32.1 billion (EUR 4.3 billion), the company’s highest EBITDA to date, based on preliminary and unaudited reporting. The results are within the latest guidance and above the company’s initial expect
Hai Long Offshore Wind, a consortium comprising Northland Power, Yushan Energy, and Japan’s Mitsui & Co., says it is actively working towards reaching the financial close, with a majority of the project financing to be provided by international financial institutions, in addition to the shareholders
Danish wind turbine manufacturer Vestas has announced plans to build out a wind energy supply chain in South Korea, adding that the plans are dependent on a growing market for offshore wind in the country. The plans were formalised at a signing ceremony with Vestas CEO Henrik Andersen, and South Kor
The Crown Estate has signed Agreements for Lease for all six offshore wind projects selected in the UK’s Round 4 offshore wind seabed leasing. This enables the developers to now further progress their plans and also kicks off the period in which they will be paying annual option fees of almost GBP 9
Plenitude, a Benefit Corporation company of the Italian oil and gas major Eni, and Irish floating offshore wind developer Simply Blue Group have entered into an agreement to jointly develop floating wind projects in Italy, with applications for the first two already submitted to the relevant authori
Copenhagen Infrastructure Partners’ (CIP) fund Copenhagen Infrastructure IV K/S (CI IV) and Statkraft have signed an agreement which will see CIP acquiring 50 per cent in Statkraft’s offshore wind portfolio in Ireland. Under the deal, the financial terms of which have not been disclosed, CIP will ho
The State Oil Company of the Republic of Azerbaijan (SOCAR) and the United Arab Emirates’ Masdar have entered into a partnership on offshore wind and green hydrogen projects in Azerbaijan. Under a joint development agreement, signed in Abu Dhabi on 15 January within the framework of Azerbaijan’s Pre
Ørsted has applied for permits to build four more large-scale offshore wind farms in Sweden, in addition to the two projects the developer announced earlier. With the new applications, Ørsted’s Swedish portfolio of potential projects has grown to a combined capacity of 18 GW. In Sweden, Ørsted is al
SSE Renewables and APG, the largest pension provider in the Netherlands, have formed a consortium for participation in the upcoming 4 GW IJmuiden Ver offshore wind farm zone tenders. SSE Renewables and APG, acting on behalf of Dutch pension fund ABP, aim for the development of a large-scale offshore
The Scottish and UK governments have awarded the Green Freeport status to Inverness and Cromarty Firth Green Freeport and Forth Green Freeport in Scotland. The ports, Scotland’s first Green Freeports, will receive up to GBP 52 million in start-up funding and will benefit from tax reliefs and other i
Danish offshore shipping company, World Marine Offshore (WMO), filed for bankruptcy with the Court in Esbjerg on 6 January. John Sommer Schmidt, a lawyer at the Gorrissen Federspiel firm, has been appointed to oversee the bankruptcy proceedings. Schmidt told Denmark’s Finans that WMO had filed for b
TotalEnergies is investing massively in renewable energy and clean and sustainable fuels, with one third of its investments now being made in these sectors as the company, most of whose currently operational projects are still in the oil & gas sector, moves towards a goal of having 50 per cent of it
