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(OW) Denmark-based Cadeler has entered into an unsecured green term loan facility with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (HSBC). The purpose of the loan facility is, among others, to fund Cadeler’s construction of the X-class and F-class newbuild vessels and upgrade of the existing O-class vessels with new cranes, namely Wind Orca and Wind Osprey.... Continue Reading →
(OE) Vattenfall has supplied the first power from its offshore wind farm, Vesterhav Syd, to the Danish power grid. "It was a culmination of almost seven years’ work on the wind farm, when the blades of the first wind turbine were turned up against the wind and started generating fossil-free electricity," Vattenfall said. The first... Continue Reading →
(OE) Denmark-based offshore wind developer Orsted has decided to pull out of the Norwegian offshore wind partnership due to prioritization of investment in its portfolio. Ørsted joined Bonheur ASA's subsidiary Fred. Olsen Renewables AS, now Fred. Olsen Seawind ASA, and Hafslund in the Blaavin consortium in June 2021, in partnership for offshore wind developments in Norway.... Continue Reading →
(OET) Italy-headquartered cabling giant Prysmian Group has revealed strong results for the first nine months of 2023, with new orders year-to-date amounting to approximately €13 billion, including projects for which the Italian player has been selected as the preferred bidder. This was driven by energy transition and electrification, which are expected to remain long-term growth... Continue Reading →
(Reuters) Danish wind turbine maker Vestas on Wednesday reported third-quarter operating profits and revenue above expectations, reflecting an easing of supply chain disruptions and higher prices for turbines, boosting its shares 9% in early trade. The world's leading turbine maker has since the pandemic faced supply chain issues and higher raw material prices, which have... Continue Reading →
(TN) Equinor signed an agreement with Denham Capital to acquire Rio Energy, a leading company in onshore renewable energy in Brazil. The transaction includes selected assets and employees, while Denham Capital will retain certain assets. With this acquisition, Equinor reinforces its position as an energy company in the Brazilian market. "Through Rio Energy, Equinor will... Continue Reading →
(Reuters) Denmark's Orsted is still "committed" to developing offshore wind farms in the United States despite the company's cancellation of two projects off the coast of New Jersey, White House senior advisor John Podesta told Reuters on Monday. Podesta spoke with the company after its shock decision last week, he said in an interview. The... Continue Reading →
(Reuters) - Rating agency Fitch on Friday downgraded the outlook on Danish renewable energy firm Orsted's (ORSTED.CO) rating to negative, a day after S&P warned of a possible debt downgrade due to the company's massive losses on projects in the United States. Fitch affirmed Orsted's Long-Term Issuer Default Rating (IDR) at 'BBB+'. The world's largest offshore wind... Continue Reading →
(OE) Offshore drilling contractor Noble Corp. on Tuesday released a fleet status report, according to which the company has secured contracts for six offshore drilling rigs since its previous fleet report issued on August 2, 2023. The company has secured contracts for three drillships—the Noble Valiant, Globetrotter I, and Globetrotter II—and three jack-up drilling rigs—the... Continue Reading →
(Reuters) Denmark's Orsted said on Wednesday it had recorded a 28.4 billion Danish crowns ($4.03 billion) impairment charge for the first nine months of 2023, and that it will cease work on its U.S. offshore wind projects Ocean Wind 1 and 2. The world's largest offshore wind farm developer has made a final investment decision on Revolution... Continue Reading →
Brazil Energy Insight 