Poland to Boost Offshore Wind, Energy Security
Poland is planning to assign new areas for offshore wind farms in the Baltic Sea and is drafting additional measures to boost the security of its critical energy infrastructure, government officials said on Wednesday."Maritime offices will submit analyses any moment, which will give grounds to make a decision on designating new areas for offshore wind farms," Deputy Infrastructure Minister Arkadiusz…
European clean energy stocks fall as Trump wins the presidency
After Donald Trump's election as president of the United States on Wednesday, shares in European clean-energy groups plunged. Investors were worried about a possible dismantling by the United States of its support for renewables. Trump pledged to cancel offshore wind projects via an executive order his first day of office, and roll back climate regulations that were implemented by President Joe Biden.
Orsted Addresses Swedish Baltic Sea Wind Concerns
Orsted CEO assures Sweden that the offshore wind industry has solutions that would address defense concerns. At issue: Sweden's rejection of a proposed 13 offshore wind farms in the Baltic Sea.Swedish Defense Minister Pal Jonson said on Monday that building wind farms in the Baltic Sea would pose defense risks, by making it harder to detect and shoot down missiles. As Europe turns to renewable sources to diversify energy supplies away from Russian oil and gas…
Orsted says US Green Energy Demand Will Grow Regardless of Election Results
Orsted said that the demand for green power will continue to grow in the United States, regardless of the person who is elected as president. However, the group also pointed out construction issues and increased costs at an offshore wind farm in the United States.The U.S. offshore industry is a young one, and it has already been affected by cancelled projects. Lease sales have also been put on hold.
Equinor, a Norwegian company, tries to lease an offshore wind farm in Japan again.
Two sources claim that Equinor, a Norwegian energy company, has bid with other companies to build an offshore wind farm in Japan's latest state auctions. It is looking for a foothold on the market. Equinor’s bid shows that some wind players have their eyes on Japan, even though they are cutting back elsewhere. This is despite the frustration of some international players with strict bidding regulations and an auction round won by Japanese companies.
Sources say RPT-BP is considering selling a minority stake in the offshore wind business.
Four sources familiar with the matter have confirmed that BP may sell a minority stake of its offshore wind division. This is the latest move by CEO Murray Auchincloss in his efforts to reduce the company's focus towards renewables. Shareholders have been putting pressure on the company to abandon its 2020 energy transition strategy as profits from renewables are decreasing and margins for oil and gas are increasing.
Sources say that BP is considering selling a minority stake in the offshore wind business.
Four sources familiar with the matter have confirmed that BP may sell a minority stake of its offshore wind division. This is the latest move by CEO Murray Auchincloss in his efforts to reduce the company's focus towards renewables. Shareholders have been putting pressure on the company to abandon its 2020 energy transition strategy as profits from renewables are decreasing and margins for oil and gas are increasing.
Sources say that BP is considering selling a minority stake in the offshore wind business.
Four sources familiar with the matter have confirmed that BP may sell a minority stake of its offshore wind division. This is the latest move by CEO Murray Auchincloss in his efforts to reduce the company's focus towards renewables. Shareholders have been putting pressure on the company to abandon its 2020 energy transition strategy as profits from renewables are decreasing and margins for oil and gas are increasing.
Iberdrola, a Spanish company, doubles its British investment plan from $11 billion to $21 billion
Iberdrola, the largest Spanish power company, has increased its investment plan in its British subsidiary Scottish Power from 24 billion pounds ($31.37billion) to 2024-2028. This was announced ahead of an international investment summit held in London. The investment comes at a time when Britain's Labour government is trying to attract billions of pounds worth of foreign investment as it celebrates its 100th day in office, and hosts global business leaders in the Oct. 14 Summit.
Iberdrola, a Spanish company, invests $15.7 billion into Scottish Power's division
Iberdrola - Spain's largest energy company - will invest up 12 billion pounds ($15.7billion) in Scottish Power, its British division, over the next four year, doubling their commitment to the UK in advance of a global summit on investment in London. The investment comes at a time when Britain's Labour government is trying to attract billions of pounds worth of foreign investment as it celebrates its 100th day in office, and hosts global business leaders in the Oct. 14 Summit.
BP sells its US Onshore Wind Business
BP announced Monday that it plans to sell the U.S. Onshore Wind Energy business. The assets did not align with its growth plan. BP has announced that it will soon begin the process of selling its wind assets. bp Wind Energy is a company with interests in ten operating onshore wind power assets spread across seven U.S. States. William Lin, BP’s executive vice-president for gas and low-carbon energy…
Orsted wins 3.5 GW in offshore wind contracts at UK auction
Orsted, a Danish company, has been awarded contracts worth 3,480 megawatts of capacity for its Hornsea 3 offshore wind projects and Hornsea 4 onshore wind power project in Britain's most recent renewables auction. Hornsea 4 announced that it had secured a contract-for-difference (CfD), for 2,400 megawatts (MW) of capacity, at a strike rate of 58.87 British Pounds per Megawatt Hour (MWh), in 2012 inflation-indexed prices.
Orsted and Iberdrola among the winners in record British renewable energy auction
Orsted and Iberdrola are among the winners in a British renewable energy auction that supported a record-breaking number of projects. The government announced this on Tuesday. The Labour government that came to power in July plans to decarbonise electricity by 2030. This will require an increase in renewable energy capacity, such as solar and wind. Ed Miliband, Energy Secretary, said in a press…
Orsted Energy shuts down last coal-fired power plant
Orsted, a Danish company, announced on Thursday that it will close its last coal-fired units this week. This marks a significant milestone in the transition of Orsted to fossil-free power generation. Since selling its oil business in 2017, the company, which was formerly called DONG Energy has pioneered offshore energy. It now calls itself a "renewable giant" and is a leader in offshore wind. Orsted announced that it would shut down its coal-fired plant in Esbjerg…
Equinor to close Hanoi office after halting Vietnam offshore wind plans
A company spokesperson revealed that Norway's state controlled energy giant Equinor had cancelled plans to invest into Vietnam's offshore sector. This is a blow for Vietnam's green power aspirations. According to the World Bank Group's report, Vietnam has drawn international attention to its renewable energy plans due to its strong wind in shallow water near densely populated coastal areas. However…
Denmark's North Sea Energy Island is again delayed by high costs
A government minister announced on Wednesday that Denmark would delay construction by at least three years of the planned North Sea Energy Island to provide renewable energy to three million European homes. The delay is due to rising costs and interest rates. Energy Minister Lars Aagaard said that the projected investment exceeded 200 billion Danish crowns (29.81 billion dollars) and required about 50 billion crowns of state support.
Offshore Wind: Orsted Earnings, Shares Dented by Lower Wind Speeds, Cable Problems
Lower wind speeds and cable problems hit first-quarter earnings at Denmark's Orsted , sending shares in the world's biggest offshore wind farm developer lower on Thursday.Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 4.9 billion Danish crowns ($799 million), missing analysts' consensus forecast of 5.2 billion crowns.However, Chief Executive Mads Nipper said the…
"Coal has to go," CEO of Poland's PGE Says
Coal has obviously to be scrapped as a power source, the CEO of the Polish group which owns the EU’s biggest carbon-emitting power plant said on Thursday, underscoring a policy shift in a country until recently wedded to coal to generate electricity.Poland produces most of its electricity from coal but has made a series of policy shifts in recent months and now plans investment in offshore wind…
Tech Files: Offshore Power Products
Insights on innovative power products upgrades that could be used to keep offshore operations moving along effectively, efficiently.Maersk Supply Service/Orsted power buoysDanish offshore vessel firm Maersk Supply Service and its compatriot offshore wind developer Ørsted, are testing an innovative charging buoy that can bring green electricity to offshore wind farm service vessels and potentially…
RWE Eyes Renewables Deals as Part of $8.4 B Expansion
Germany's largest power producer RWE plans to spend part of its 7 billion euro ($8.4 billion) war chest on growing its 24.7 gigawatt pipeline of renewables projects, its CFO said, just weeks after BP announced a major low-carbon push."A pipeline needs to be worked on constantly. It doesn't grow overnight," Markus Krebber told Reuters, less than a day after the group raised 2 billion euros ($2.4 billion) in a share sale to fund growth.Unfazed by the COVID-19 crisis…
