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Belgium-based offshore installation company DEME said Wednesday it had secured contracts representing 1 GW for the Hai Long wind farms in Taiwan. DEME said that the deal between its Taiwan JV CSBC-DEME Wind Engineering (CDWE) and Hai Long Offshore Wind followed nearly three years of planning and preparation under a preferred bidder agreement. The large... Continue Reading →
(Reuters) - The Green Investment Group (GIG), owned by Macquarie Asset Management, will launch a new platform to develop battery storage capacity across the world, it said on Monday. The platform, called Eku Energy, will have 190 megawatt hours of flexible storage capacity under construction on completion of the launch and a further pipeline of... Continue Reading →
(OE) Floating wind developer BlueFloat Energy has selected K2 Management as owner's engineer for the development of its first offshore floating wind project in Taiwan ahead of the upcoming round three market auction. With a planned capacity of 1 GW, the wind farm is named ‘Winds of September’ for the strong winds blowing in the... Continue Reading →
Japan’s electricity utility Tokyo Electric Power Company (TEPCO) is set to acquire the Scottish floating wind specialist Flotation Energy. This is TEPCO's first investment in overseas wind power. Floation Energy founders Allan MacAskill and Lord Nicol Stephen developed Kincardine, the world’s largest floating windfarm in operation. Flotation Energy currently has interests in Morecambe in the... Continue Reading →
(OM) Vast opportunities—and inevitably challenges too—face the offshore global EPC and rig markets, according to analysts presenting at the recent Westwood Global Energy Group Offshore Breakfast Briefing event in Houston. The following is a recap of their presented findings and forecasts for the offshore oil and gas sector. Global offshore EPC outlook Westwood reports that... Continue Reading →
(OE) Singapore's Sembcorp Marine (Sembmarine) scrapped a deal to merge with Keppel Corp's offshore and marine unit and form new company, in favour of directly buying the unit for S$4.50 billion ($3.19 billion), the Temasek-backed oil rig builder said on Thursday. The new structure also lowers the value of Keppel's unit by S$378 million from... Continue Reading →
(Reuters) - CNOOC Ltd's (0883.HK), third-quarter net profit soared by 89% from a year earlier to 36.9 billion yuan ($5.11 billion), driven by stronger oil and as prices, the Chinese offshore oil and gas major said on Thursday. Third-quarter revenue rose 54% on the year to 89.2 billion yuan and total net production rose 8.8% to... Continue Reading →
(Reuters) - Asia's largest oil and gas producer PetroChina Co Ltd reported a 60% year-on-year rise in nine-month net profit to record highs, lifted by stronger global energy prices, even as weaker domestic fuel consumption continued to drag on earnings. Net profit for the January to September period reached 120.3 billion yuan ($16.66 billion), the... Continue Reading →
lenergy Co Ltd, a Korean renewable energy development firm, has hired DNV as the owner's engineer for its 1.5 GW fixed-bottom Chujin offshore wind project. The Chujin offshore wind farm will be the largest commercial-scale offshore wind farm in South Korea, when completed in 2027. As the owner’s engineer, DNV will drive the pre-Front End... Continue Reading →
With the addition of 115 new global offshore wind projects during 3Q, Quest Floating Wind Energy (Q FWE) are actively tracking 696 projects (with statuses Possible, Planned, Pre-development and Under development) representing $1.75 trillion in CapEx, a one-half billion quarter over quarter gain. The Quest Offshore Wind Turbine Index (QOWTI), which tracks the Total Addressable... Continue Reading →
Brazil Energy Insight 