China’s MingYang Smart Energy has agreed to sell a minority stake in a special purpose company developing a 300 MW offshore wind project to Poly Changda Engineering. Once the transaction is completed, Poly Changda Engineering will hold a 49 per cent stake in Yangjiang Mingyang Offshore Wind Power De
The European Investment Bank (EIB) has granted a EUR 450 million credit line for co-financing the construction of the Fécamp offshore wind project in France. According to EIB, this is the first such operation it is financing in France, reinforcing the objectives set by its shareholders to make it th
French company Naval Energies has joined the Offshore Wind California coalition, which gathers offshore wind developers and technology companies supporting a goal of 10 GW of installed offshore wind capacity in California by 2040. “We look forward to working with the Naval Energies team as we advanc
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in th
Nexans Norway has been awarded a contract for the supply and installation of export cables for the Seagreen 1 offshore wind farm, after being chosen as a preferred supplier in 2019. The Norwegian company will design, manufacture and install three 65-kilometre offshore export cables and three 20-kilo
1,400 GW of offshore wind globally by 2050 is entirely achievable considering the resource potential, technology innovation, and government appetite to position offshore wind at the centre of the global energy transition, the Ocean Renewable Energy Action Coalition (OREAC) said. OREAC estimates that
DNV GL has signed a contract with Sing Da Marine Structure (SDMS), a wholly-owned subsidiary of China Steel Corporation (CSC), to provide support for jacket foundation manufacturing for offshore wind projects in Taiwan. DNV GL will provide SDMS with risk mitigation advice around technical, logistica
The Danish Export Credit Agency (EKF) has provided a GBP 304 million guarantee for the Seagreen offshore wind project in Scotland. EKF is participating in the financing together with the Norwegian ECA GIEK and 12 commercial banks. SSE Renewables recently announced it had taken a final investment dec
Poland’s Enea Group and Iberdrola have signed a Letter of Intent (LoI) to jointly develop offshore wind projects in the Polish Baltic Sea with a possible total capacity of up to 3.3 GW. The two companies will now begin negotiations on an exclusive basis to assess the possibility of jointly investing
SSE Renewables has taken a final investment decision to proceed with the Seagreen 1 offshore wind project which will now be taken forward together with the French energy major Total. Total and SSE Renewables have now entered into an agreement through which Total will take a 51 per cent stake in the
Vattenfall is set to consider how to proceed with the Thanet Extension offshore wind project after the UK Secretary of State refused its development consent order (DCO) application. Commenting on the decision, Danielle Lane, UK Country Manager for Vattenfall, said: “Naturally we’re very disappointed
Spanish energy giant Iberdrola is very interested in participating in future offshore wind capacity auctions in France, the company’s CEO and Chairman Ignacio Galán, said. This comes as Iberdrola announced it will invest between EUR 3 and EUR 4 billion in renewable energy projects in France over the
Norway’s Ocean Installer has established a new business segment for the offshore wind sector. The Stavanger-based company has appointed Even Larsen as the Director of Offshore Wind, starting from 1 August. “I am very excited about this new chapter for our company, which makes Ocean Installer relevan
The UK Secretary of State for Business, Energy and Industrial Strategy (BEIS) has refused Vattenfall’s development consent order (DCO) application for the Thanet Extension offshore wind project. The conclusion behind the decision is that Vattenfall failed to demonstrate sufficient mitigation of risk
