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(TXF) Delays and project cost overruns from the pandemic have meant lenders and sponsors of the Yunlin offshore wind farm in Taiwan are scrambling to remedy the project’s financial woes. ECAs may push out the tenor envelope to ease the pressure - but concrete solutions are yet to be realized. The fledgling Taiwanese offshore wind... Continue Reading →
(OE) TotalEnergies and Corio Generation have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan. Corio will remain the majority shareholder and lead developer with 50% plus 10 shares overall in project. The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding... Continue Reading →
(Reuters) - Vietnam may not have a legal framework to regulate offshore wind farms until next year, a European Union business representative said on Thursday, a delay that could stall billions of dollars of foreign investment in the sector. Vietnam has big offshore wind power potential given the strong winds and shallow waters near coastal... Continue Reading →
Floating wind technology firm Hexicon has partnered up with IX Wind to provide services for the development and construction of a 1,300+ MW floating offshore wind project in Taiwan. The partnership will offer project management, consultancy and engineering services to the project. "With the combination of local knowledge and expertise in offshore wind development, this... Continue Reading →
The US Bureau of Ocean Energy Management (BOEM) has issued a Draft Environmental Impact Statement (DEIS) for the SouthCoast Wind project offshore Massachusetts, the 2.4 GW offshore wind project formerly known as Mayflower Wind, developed by a joint venture between Shell and Ocean Winds. BOEM will open a 45-day public comment period for the DEIS... Continue Reading →
Oil major BP has formed an offshore wind joint venture with Norway's Deep Wind Offshore to develop offshore wind farms in South Korea. As part of the deal agreement, BP has acquired a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio, which includes four projects across the Korean peninsula with a potential generating capacity of... Continue Reading →
(U) Norwegian oil and gas major Equinor has defended the strategy driving its renewables business division and said performance will improve as assets become operational. Equinor this week joined its energy peers in reporting stellar profits for 2022 and returning more capital to shareholders, with a record $74.9 billion in adjusted operating profits booked last... Continue Reading →
Atlantic Shores Offshore Wind, a 50:50 US partnership between Shell and EDF Renewables, has joined the Northeast Clean Hydrogen Hub, a major multi-state initiative in the US that plans to develop a proposal to become one of up to 10 regional clean hydrogen hubs in the country. The developer of a 1.5 GW offshore wind project in... Continue Reading →
Subsea 7's renewable energy focused subsidiary Seaway 7 said Tuesday it had won a large offshore wind contract. For Seaway 7, “large” contracts are worth between $300 million and $500 million. The client hasn't been named, but the contract is for the transport and installation of inner-array grid and export cables for an undisclosed offshore... Continue Reading →
(OE) DNV is launching a project to develop a decision tool and reference for stakeholders to use during the specification, design, manufacture, procurement, and approval of any equipment intended for the installation and decommissioning of bottom-fixed wind turbines. DNV forecasts that wind energy capacity will expand 15-fold, rising from 5% of global electricity production currently... Continue Reading →
Brazil Energy Insight 