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Business & Finance

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A jack-up vessel at an offshore wind farm
Business & Finance

Global Offshore Wind O&M Market to Reach EUR 10 Billion by 2029

The global offshore wind operations and maintenance (O&M) market is expected to grow 16 per cent annually and reach EUR 10 billion by 2029. Europe will remain the biggest O&M market by region, while China will become the biggest single market in terms of national markets. This is according to the la

about 5 years ago
A photo of an offshore wind farm in sunset
Business & Finance

JERA Unveils New Offshore Wind Project in Japan

Japanese utility JERA has submitted a Primary Environmental Impact Consideration Document for a new offshore wind project to Japan’s Ministry of Economy, Trade, and Industry (METI). The project site is located in the waters off the city of Tsugaru and the town of Ajigasawa in Aomori Prefecture, Japa

about 5 years ago
Ocean Ecology and Åkerblå Jointly Target Offshore Wind
Business & Finance

Ocean Ecology and Åkerblå to Work Together in Offshore Wind

Norwegian environmental and technical consultancy Åkerblå Group is buying into UK-based marine and environmental survey specialist Ocean Ecology with an aim to work in offshore wind. Åkerblå Group is acquiring 51% of the shares in Ocean Ecology, while the founders and current owners will retain the

about 5 years ago
The Nordsee Ost offshore wind farm
Business & Finance

Aker Wins Kværner’s Nordsee Ost Case

Aker Solutions has received the final ruling from an arbitration tribunal in Germany in the case concerning the Nordsee Ost offshore wind project for which Kværner, now part of Aker, delivered jacket foundations. “The ruling entitles Aker Solutions to receive a recoverable cash amount of approximate

about 5 years ago
Floating Wind-Wave Project Planned Offshore Ireland
Business & Finance

Floating Wind-Wave Energy Project Planned Offshore Ireland

Simply Blue Energy has started developing a project off Ireland’s west coast that will feature a hybrid floating offshore wind farm and wave energy conversion array. Western Star Wind, named Project Ilen, is a 1.1 GW floating offshore wind project located at least 35 km offshore Co. Clare. Western S

about 5 years ago
A close-up of a NKT cable
Business & Finance

NKT Nets Long-Term Cable Service Contract in Denmark

NKT has signed a long-term agreement with Danish grid operator Energinet on maintenance and repair of both offshore and onshore power cables in Denmark. The contract, which will run for eight years, includes services and repairs of XLPE, mass impregnated (MI) and oil filled power cable systems with

about 5 years ago
Visualisation of the planned Able Marine Energy Park
Business & Finance

Able UK Gets Government Funding for Offshore Wind Upgrade

The UK government has selected Able UK’s Able Marine Energy Park (AMEP) for funding under the Offshore Wind Manufacturing Investment Scheme, which will ensure the port infrastructure can accommodate next generation offshore wind activities. “The government will make an offer of support, in principle

about 5 years ago
Diamond Transmission Partners Buys Hornsea One Link
Business & Finance

Diamond Transmission Partners Buys Hornsea One Link

Diamond Transmission Partners has signed an agreement with the owners of the Hornsea One offshore wind farm to acquire the project’s transmission assets. The transmission assets hold an asset value of GBP 1.175 billion and include the onshore substation, export cables, the offshore reactive compensa

about 5 years ago
DNV Backs PGE in Offshore Wind Negotiations with Ørsted
Business & Finance

DNV Backs PGE in Offshore Wind Negotiations with Ørsted

DNV has advised PGE Baltica on the setup of a joint venture with Ørsted dedicated to developing two offshore wind projects in the Polish Baltic Sea. DNV provided technical and commercial services related to setting up the joint venture for developing, building, and operating the 1.5 GW Baltica 2 and

about 5 years ago
A photo of an offshore wind farm in sunset
Business & Finance

Offshore Wind Industry Poised to Invest USD 140 Billion in US East Coast by 2035

More than 40 GW of offshore wind capacity is expected to be installed off the U.S. East Coast by 2035 and the industry could invest USD 140 billion to establish and build out its supply chain, install equipment, and operate the wind farms. This is according to the latest report from BVG Associates (

about 5 years ago
Siemens Gamesa Taps Welcon for 140 Offshore Wind Turbine Towers
Business & Finance

Siemens Gamesa Taps Welcon for 140 Offshore Wind Turbine Towers

Siemens Gamesa has ordered 140 offshore wind turbine towers for three different projects at Denmark’s Welcon. 78 towers will be manufactured for the 1.5 GW Hollandse Kust Zuid (HKZ) wind farm in the Dutch North Sea, 38 towers for the 342 MW Kaskasi project in the German North Sea, and 24 towers for

about 5 years ago
The WindFloat floating wind project
Business & Finance

Ocean Winds Enters Floating Wind Partnership in Greece

Ocean Winds (OW), a joint venture between EDP Renewables and ENGIE, has signed a collaboration agreement with the Greek renewable energy company Terna Energy to co-develop floating offshore wind projects in Greece. The companies said they were joining forces to identify the most suitable areas and c

about 5 years ago
European Commission Nods to Thor CfD Scheme
Business & Finance

European Commission Nods to Thor CfD Scheme

The European Commission has approved, under EU State aid rules, Danish support for the Thor offshore wind farm project. Denmark notified the Commission of an aid measure, with a total maximum budget of DKK 6,5 billion (approximately EUR 870 million), to support the design, construction, and operatio

about 5 years ago
A rendering of the State Pier facility in New London after infrastructure improvements in the approved plan
Business & Finance

Ørsted, Eversource Ink State Pier Upgrade Deal with City of New London

Ørsted and Eversource, through their joint venture, have signed a Host Community Agreement (HCA) with the City of New London in Connecticut, U.S., for the redevelopment of the city port’s State Pier to enable it to support offshore wind farm construction. The State Pier is planned to be upgraded to

about 5 years ago
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