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U.S. oil company ConocoPhillips and China's CNOOC have recently announced the start of the Penglai offshore wind farm pilot project, aimed at harnessing wind power to supply power to the Penglai oil field. This is China’s largest offshore oil and gas production base under production sharing contract, located in Bohai Bay, Northeast China. Bill Arnold,... Continue Reading →
(OEM) With COP27 in full swing, governments have set out an action plan to make clean technologies cheaper and more accessible in a bid to scale up decarbonisation efforts, says the International Renewable Energy Agency (IRENA). This builds on the progress made since COP26 and the intergovernmental organisation anticipates that investments in wind and solar projects... Continue Reading →
(Reuters) - German energy company RWE (RWEG.DE) on Thursday said it had won the right to build an offshore wind farm with a capacity of 700 megawatt (MW) in the Dutch part of the North Sea. The wind farm will be built by a Dutch subsidiary of RWE that will get no subsidies on the energy produced.... Continue Reading →
(Reuters) - Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.2 billion), the environment minister said on Thursday. So-called green hydrogen, produced using renewable electricity, is seen as a key power source that can reduce pollution from long-haul heavy transport,... Continue Reading →
Wilson Sons posted a net profit of R$ 67 million (US$ 13 million) in the third quarter of this year (3Q22), 92% above the 2021 comparative (3Q21). In the first nine months of 2022 (9M22), the company's profit after tax was R$ 226 million (US$ 44 million), up 24% compared to the same period last year... Continue Reading →
(Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) said on Thursday it missed its full-year target as revenue declined, mostly due to delays in project execution and supply chain disruptions hampering production of wind turbine generators. The company said its core earnings margin during the year that ended on Sept. 30 was minus 5.9%, below its own August... Continue Reading →
(Reuters) Norwegian energy giant Equinor is on track to almost double its share of its investment in renewable energy this year, despite walking away from expensive offshore wind deals, the chief executive said on Tuesday. Around 20% of company's gross investments in 2022 will be in renewable energy, CEO Anders Opedal told Reuters on the... Continue Reading →
(Reuters) Spain's Iberdrola plans to invest 47 billion euros ($47 billion) in its electricity networks, renewable energy production and customer businesses in 2023-2025 alongside an expected rise in profits, it said on Wednesday. Iberdrola is pushing to remain one of the global renewable power leaders at a time when utilities are facing a challenging transition... Continue Reading →
(Reuters) - French energy giant TotalEnergies (TTEF.PA) has pulled ahead of rivals Shell (SHEL.L) and BP in the race to build up a renewables business, data collected by Reuters shows. But despite the growing focus on the climate, investors remain cautious for now, with shares of the three European giants trailing their oil and gas-focused U.S. rivals Exxon Mobil... Continue Reading →
(TN) Australian renewable green energy developer Fortescue Future Industries (FFI) and Enel's global renewable energy arm, Enel Green Power S.p.A. (EGP), today announced that they will partner to explore the co-development of the green hydrogen value chain, with an initial focus on Latin America and Australia. FFI and EGP share a common view on the... Continue Reading →
