Danish wind turbine manufacturer Vestas has lowered its full-year operating profit margin guidance from the previous five to seven percent to around four per cent, citing the impacts of the supply chain instability and cost inflation caused by the COVID-19 pandemic. ”Based on how 2021 has evolved an
Offshore wind spending is nearing that of offshore oil and gas and is anticipated to surpass it in several key markets by 2030, Rystad Energy said, with Europe being the first to count more offshore wind than oil and gas investments, followed by Asia (excluding China) and the US. In Europe, the UK a
Italian oil and gas major Eni has agreed to acquire a 20 per cent stake in the 1.2 GW Dogger Bank C wind farm offshore the UK. Eni will buy a 10 per cent stake in the project from Equinor, and the remaining 10 per cent stake from SSE Renewables. The transactions have a combined […]
Greencoat UK Wind has signed an agreement to acquire a 25 per cent stake in the Burbo Bank Extension offshore wind farm from AIP, in partnership with a number of pension funds investing through Greencoat Renewable Income LP, a fund also managed by Greencoat Capital. Through the acquisition, to be co
Japan’s Penta-Ocean Construction and DEME Offshore have established a joint venture company, Japan Offshore Marine (JOM), to collaborate in the field of offshore wind construction in Japan. JOM, owned 51 per cent by Penta-Ocean and 49 per cent by DEME, will engage in investigation, engineering, proc
SSE Renewables has closed the agreement to form a new joint ownership company, SSE Pacifico, which will pursue the development of offshore wind projects in Japan. The deal includes the acquisition by SSE Renewables of an 80 per cent interest in an offshore wind development platform from Pacifico Ene
Six world-leading offshore wind developers and wind turbine manufacturers have submitted a total of 16 offers in the New Jersey Economic Development Authority’s (NJEDA) sublease solicitation for the New Jersey Wind Port. Ørsted, Atlantic Shores Offshore Wind (a joint venture between Shell and EDF Re
The UK government is setting aside up to GBP 160 million for the development of new large-scale floating offshore wind ports and factories in Wales and Scotland, the UK’s Prime Minister Boris Johnson revealed. Developers and manufacturers looking to invest in this emerging industry will be able to b
The UK government has announced GBP 380 million (around EUR 450 million) of investment in offshore wind in its Autumn Budget and Spending Review. Up to GBP 230 million (around EUR 272.5 million) of this will be available from GBP 1.4 billion (around EUR 1.66 billion) that the government is allocatin
Fred. Olsen Renewables and Vattenfall, who have placed a joint bid in the ScotWind offshore wind leasing round, have signed Memoranda of Understanding (MoUs) with two Orkney offshore service providers, Green Marine and Leask Marine, and Orkney Harbour Authority. According to the developers, the agre
Former Petrofac CEO Ayman Asfari and colleagues have established Venterra Group Plc, a company providing services to the offshore wind industry, which acquired FoundOcean, Osbit, and Gavin & Doherty Geosolutions (GDG). According to a press release from the newly established Venterra, its mission is
The European Investment Bank (EIB) and Japan Bank for International Cooperation (JBIC) have entered into an agreement to further expand cooperation on a range of globally relevant investments, including projects contributing to carbon neutrality in the European Union, such as subsea interconnectors,
Virginia Governor Ralph Northam has announced an agreement for Siemens Gamesa Renewable Energy to establish what will be the first offshore wind turbine blade facility in the United States. According to Siemens Gamesa, this is also the first commitment by a global offshore wind turbine manufacturer
The Offshore Energy Exhibition and Conference (OEEC) is once again returning to RAI in Amsterdam, the Netherlands on 26 and 27 October. ELA Container Offshore has been a prominent part of OEEC for years and this offshore accommodation specialist is returning once again in person as one of the exhibi
