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Business & Finance

PaxOcean Receives Order for Methanol-Ready Offshore Construction Vessel Newbuilds

PaxOcean has unveiled an order for up to four methanol-ready offshore construction vessels (OCVs) from an unnamed European shipowner. PaxOcean announced it has signed shipbuilding contracts for two OCVs with a “renowned European shipowner” for delivery in 2027 and an option for two additional vessel

about 1 year ago

Norther offshore wind farm with Vestas wind turbines

Business & Finance

KOEN Exiting South Korean Project as Proposed Offshore Wind Farm Did Not Pass Gov’t Feasibility Study

Korea South-East Power (KOEN), a subsidiary of Korea Electric Power Corporation (KEPCO), is withdrawing from the Shinan Ui (Sinan Ui) offshore wind project after the proposed wind farm did not pass the government’s feasibility assessment. According to Seoul Economic Daily, in August 2024, the prelim

about 1 year ago

Business & Finance

North Sea Ecosystem Regeneration at Heart of Dutch Govt’s New Program

Human touch has taken its toll on the delicate North Sea ecosystem. With the growing pressure of climate change and demand for sustainable energy and food, this ecosystem keeps deteriorating. Preventing or preserving the North Sea now has an exclamation point. As a response, the Dutch Ministry of Ag

about 1 year ago

Business & Finance

Heerema to Deliver Flat-Over Barge for TenneT’s 2 GW Offshore Topsides

Heerema Marine Contractors has signed a contract with the German/Dutch transmission system operator (TSO) TenneT for the delivery of a float-over barge, designed to install 2 GW offshore substations weighing more than 30,000 tonnes. According to Heerema, the new float-over barge will be a vital asse

about 1 year ago

Business & Finance

Ziton Expands Its Fleet with Another Jack-Up Vessel

Denmark’s Ziton has expanded its fleet with the addition of another jack-up vessel to support its operations and maintenance (O&M) services in the offshore wind sector. The jack-up vessel WIND DISCOVERY, which was built in 2011, has been registered in the Danish International Register of Shipping. T

about 1 year ago

Business & Finance

Windar Taps PORR to Build Wind Tower Factory in Poland

Spain’s Windar Renovables has selected PORR to build a new factory in Szczecin, Poland, that will produce towers, masts, and foundations for the next generation of wind turbines. The factory, which is being built on a 17-hectare site in Szczecin Port, is planned to be constructed within 18 months. T

about 1 year ago

Business & Finance

Hexicon Signs Second Credit Facility Extension to Support Company During Planned Divestments

Swedish floating wind developer Hexicon has extended a credit facility the company secured earlier to provide support during a period of planned divestments until 30 June 2025. For financing, which amounts to SEK 75 million (approximately EUR 6.6 million), Hexicon signed an agreement with Wallstreet

about 1 year ago

Business & Finance

Equinor Secures USD 3 Billion for New York City’s First Offshore Wind Farm

Equinor has secured a project financing package of over USD 3 billion (approximately EUR 2.9 billion) and reached financial close on Empire Wind 1, the first offshore wind farm to connect to New York City’s grid, which is already under construction after Equinor made a final investment decision (FID

about 1 year ago

Business & Finance

Editors’ Picks | Offshore Wind News in 2024: ‘The First, The Largest, The Record’

Some news are important for the offshore wind industry at large, some are significant for parts of the supply chain or in certain regions, and some are just good to know. With 366 days and thousands of news in 2024 behind us, the task of choosing only a few stories was not an easy one […]

about 1 year ago

Business & Finance

LS Cable & System, Jan De Nul, and Denys to Supply Cables for TenneT’s German Grid Connection Project

A consortium comprising LS Cable & System, Jan De Nul, and Denys has received a letter of allocation (LOA) from German/Dutch transmission system operator (TSO) TenneT for the supply of high-voltage direct current (HVDC) cables for the BalWin5 grid connection project in Germany. Under the LOA, the co

about 1 year ago

Business & Finance

Baltic Power Launches Scheme to Pay Fishermen Affected by Offshore Wind Farm Construction

The developers behind the Baltic Power project have made the initial compensation payments to fishermen who conducted fishing activities in the wind farm area off the coast of Poland. The transitional compensation scheme is valid for the construction of the offshore wind farm or until ministerial re

about 1 year ago

Business & Finance

Vestas Scores First 15 MW Offshore Wind Turbine Deal in Asia-Pacific

Denmark’s Vestas has received an order to supply its 15 MW turbines for the 315 MW Oga Katagami Akita Offshore Wind Project in Akita Prefecture, Japan. The order includes 21 V236-15.0 MW turbines as well as a long-term service agreement designed to ensure optimised performance of the assets. This ma

about 1 year ago

A map of French floating wind projects in the Mediterranean Sea

Business & Finance

Consortia Led by EDF, Ocean Winds Win French Floating Wind Tender

French government today, 27 December, announced the winners of the AO6 tender which offered two 250 MW floating wind sites in the Mediterranean Sea. The winning proposals were placed by a consortium comprising Ocean Winds and Banque des Territoires and a consortium between EDF Renewables and Maple P

about 1 year ago

Business & Finance

CIP Withdraws Offshore Wind Project Selected in Massachusetts as Capacity Not Secured for Connecticut Part

Vineyard Offshore, the US offshore wind development company owned by Copenhagen Infrastructure Partners (CIP), has withdrawn the 800 MW of offshore wind capacity selected earlier this year in Massachusetts as the 400 MW part of the 1.2 GW Vineyard Wind 2 project was not selected in Connecticut. As r

about 1 year ago