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On 9 March, the Biden-Harris administration released the President’s Budget for Fiscal Year (FY) 2024, with funds for federal agencies’ activities in offshore wind proposed to be increased. The budget also supports the agencies’ work on the next National OCS Oil and Gas Leasing Program, however, in terms of corporate support, it eliminates tax subsidies... Continue Reading →
Welsh Ministers have granted a Section 36 consent with deemed planning permission to Blue Gem Wind consortium to build and operate the Erebus floating wind project. The news follows the recent decision by Natural Resources Wales to provide the joint venture between TotalEnergies and Simply Blue Group with a marine licence. Erebus is Wales’ first planned... Continue Reading →
An industrial-scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from DNV, and the project is now ready to start the Basic Design phase. The NH3 FPSO concept is being developed by Netherlands-based SwitchH2 BV and Norway-based BW Offshore and will be built through conversion of an existing Very Large Crude Carrier (VLCC) or a dedicated newbuild vessel. Receiving power... Continue Reading →
Italian cabling giant Prysmian Group has reported that 2022 was its best year ever in terms of financial results as its profits and cash generation had grown by over 50 per cent. For 2022, Prysmian’s adjusted EBITDA amounted to €1,488 million, representing a +52.5 per cent growth compared to 2021, while group net profit soared... Continue Reading →
When General Electric Co's investors gather on Thursday, the focus will be on the company's loss-making renewable energy business as well as persistent supply-chain challenges at its aerospace unit. A $100 billion reduction in debt since 2018, coupled with a successful spin-off of its healthcare business and strong demand at its aerospace business, have shored... Continue Reading →
German renewable energy company RWE has selected Siemens Gamesa's offshore wind turbines with recyclable blades for its Sofia offshore wind farm in the UK. Siemens Gamesa said it would supply 44 SG 14-222 DD (14MW) wind turbines with 132 recyclable blades. The order comes after, in 2022, RWE became the first commercial, large-scale offshore developer to install... Continue Reading →
(Reuters) - Governments worldwide need to simplify rules around hydrogen supply to attract investment and scale it up to become competitive enough to substitute fossil fuel use in heavy industry, energy executives said this week. Hydrogen as a potential alternative to natural gas, coal or oil burned in heavy industry or shipping is seen as... Continue Reading →
(OE) The Belgian companies DEME, Tractebel, and Jan De Nul on Wednesday introduced a new harsh-environment offshore floating solar technology called SEAVOLT. According to the three firms, SEAVOLT technology (patent pending) can withstand harsh offshore conditions while creating large surfaces that are protected from the waves. "The modular design allows for easy adaptation to different... Continue Reading →
(OM) The growth in investment in renewable energy projects continues in 2023, according to a recent Rystad Energy report. There has been significant growth in offshore wind, with over 45 GW of capacity launched globally in 2022. As many countries ramp up efforts to meet self-imposed 2030 targets for installations, 2023 is expected to be... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) will focus on financing large-scale renewable energy projects and evaluating new partnerships with energy companies in the coming years, its chief executive said in remarks released on Tuesday. CEO Jean Paul Prates made the comments a day after the company announced it was evaluating seven offshore wind power projects along the... Continue Reading →
