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As the stamp of high oil prices in the first half of the year engraves its mark on oil market fundamentals, Westwood Global Energy, an energy market research and consultancy firm, points out the signs of an uptick in offshore exploration and production (E&P) investment and rig count, expecting the demand for offshore support vessels... Continue Reading →
(OW) Wind Catching Systems AS (WCS), the Norwegian developer of a floating wind system using multiple turbines, has completed a Series A investment round of up to USD 10 million led by the venture capital arm of an undisclosed global industrial company. The proceeds from the Series A financing will be used to fund the... Continue Reading →
(OW) KfW IPEX-Bank, together with Crédit Agricole CIB, Banco Santander, S.A., Mizuho Bank, European Investment Bank (EIB), and the Danish Export Credit Agency (EKF), has decided to finance the 30 MW Eoliennes Flottantes du Golfe du Lion (EFGL) floating wind project offshore France. KfW IPEX-Bank is the first German bank to finance a floating offshore wind farm,... Continue Reading →
(PEN) In a year with a record number of new contracts and solid results, the Brazilian CBO Group advanced in ESG (Environmental, Social and Corporate Governance) practices and published its first Sustainability Report, 2021 version. , investment in energy efficiency actions and the waste reduction results promoted by the Visão Verde Program. The maritime support... Continue Reading →
(Reuters) Portugal wants to speed up its energy transition and will double the capacity of its first auction for floating offshore wind farms to 6-8 gigawatts (GW), Environment Minister Duarte Cordeiro said on Wednesday. As part of a global shift from carbon-emitting fossil fuels, countries are betting on new technologies to boost power generation from... Continue Reading →
U.S. manufacturer of drilling and production equipment Dril-Quip has set its decarbonization targets, aiming to reduce its combined Scope 1 and Scope 2 emissions by more than 50% by 2030. Dril-Quip’s decarbonization actions include switching to renewable electricity at certain manufacturing sites, rightsizing facilities, investing in infrastructure to reduce emissions, reducing its vehicle fleet and evaluating... Continue Reading →
N-Sea has commenced geophysical, (limited) UXO and environmental surveys within the area of the White Cross floating offshore wind project in the Celtic Sea The activities, which began on 29 May, will see the company survey the offshore wind farm location and the project’s export cable route corridor. Offshore works will be completed by N-Sea... Continue Reading →
Norway-based DeepOcean has been awarded a contract to provide subsea services to Vineyard Wind 1, the first utility-scale offshore wind project in the US. Under the contract, DeepOcean will provide a range of subsea services including project management, engineering, ROV, tooling, and survey activities. The company will lead the project out of its office in... Continue Reading →
(Reuters) - Northern European countries are discussing plans to create a common power grid under the North Sea to connect future offshore wind farms as they seek to strengthen energy security, but the ambitious proposal faces financing and regulatory challenges. European nations have announced pledges to build dizzying amounts of offshore wind farms, spurred partly... Continue Reading →
(Reuters) - Norsk Hydro's (NHY.OL) Rein and Macquarie Asset Management's Green Investment Group plan to build and operate a 586 megawatt wind and solar power plant in the northeast of Brazil, the companies said on Wednesday. A final investment decision for the $700 million wind farm portion of the project is expected in the fourth quarter of... Continue Reading →
Brazil Energy Insight 