Europe confirmed a record amount of EUR 26.3 billion of investments in 2020 that will finance 7.1 GW of new offshore wind farms to be built in the coming years, WindEurope said. For comparison, EUR 6.1 billion was invested in four offshore wind projects in 2019. This represents an increase of over 3
Amazon has signed an agreement with Shell Energy Europe to offtake renewable power from the subsidy-free Hollandse Kust Noord offshore wind farm being constructed in the Netherlands. Starting in 2024, Amazon will offtake a total of 380 MW from the wind farm, 250 MW from Shell and 130 MW from Eneco.
South Korea has unveiled a KRW 48.5 trillion (EUR 36 billion) project to develop an 8.2 GW wind complex offshore the Sinan County, South Jeolla Province. South Korea’s President Moon Jae-in oversaw the signing of the agreement to build the offshore wind complex in the country’s southwest. The agreem
Over the next five years, Northland Power could invest between at least CAD 15 billion and CAD 20 billion (between EUR 9.8 billion and EUR 13 billion) in new offshore wind projects in which it holds ownership shares, with offshore wind being an anchor for its next phase of growth in the renewable en
Iberdrola has agreed to take a majority stake in DP Energy’s 3 GW offshore wind pipeline in Ireland, marking the Spanish energy company’s entry into the Irish offshore wind market. The projects are located in three clusters on the east, west, and south coasts of Ireland, of which some will be eligib
Vestas has commissioned its first-ever intertidal wind turbine at Bac Phuong JSC’s wind farm in Vietnam. Last year, Vestas won a contract to supply 13 V150-4.2 MW turbines for the second phase of Bac Phuong JSC’s Dong Hai 1 intertidal wind project. The order follows the company’s first contract with
Denmark has reached a landmark agreement on the construction of an energy hub in the North Sea. The energy hub will be an artificially constructed island 80 kilometers from the shore of the peninsula Jutland. Around 200 wind turbines with a combined capacity of 3 GW are expected to be installed in t
Turbine blades, towers, monopile foundations, and power cables are the prime areas in which the UK can secure new investment to boost its domestic manufacturing capabilities, the Offshore Wind Industry Council (OWIC) said. These are the priority areas in which OWIC is working with the UK government
TEPCO Renewable Power (TEPCO RP) has joined the TetraSpar floating foundation demonstration project by buying a 30% stake. In addition to TEPCO RP, the share structure in the project includes Shell holding a 46.2% share, RWE 23.1% and Stiesdal Offshore Technologies 0.7%. Through their collaboration
The world’s installed offshore wind capacity rose by 15 per cent in 2020, despite the COVID-19 pandemic, and this year will see a 37 per cent growth in global installed offshore wind capacity, according to Rystad Energy. Major contributor to both last year’s and this year’s growth is China. The coun
The following article is a guest post by Andreas Dracoulis (Partner), and Jonathan Morton (Associate) at the international commercial law firm Haynes and Boone. Interest in the offshore wind industry has grown exponentially over the last year and the anticipated growth of the market is huge. The EU
Ørsted’s earnings from operational offshore and onshore wind farms saw a 14% increase in 2020, driven by the ramp-up of power generation from the Hornsea One and Borssele 1&2 projects, amongst others. In its annual report for 2020, Ørsted states that the earnings from wind farms in operation increas
GE Renewable Energy is expanding its wind turbine nacelle factory in Montoir-de-Bretagne in France to accommodate the assembly of nacelles for the Haliade-X offshore wind turbines. The wind turbine supplier has awarded a consortium of VINCI Construction France’s subsidiaries with a contract for the
Japan’s Mitsui O.S.K. Lines (MOL) has announced that it will restructure the organisation as of 1 April and that it will establish a business division dedicated solely to offshore wind. As part of its restructuring and setting up several new business units and divisions, MOL is establishing the Wind
