Coastal Virginia Offshore Wind Project Stays on Track with Cost Update

Rhonda Moniz, Contributor Dominion Energy, Inc. provided updates on the 2.6 GW Coastal Virginia Offshore Wind (CVOW) project. The fully permitted project is now approximately 50% complete and remains on track for on-time completion by the end of 2026. CVOW continues to achieve construction milestones, including successfully installing the first 16 transition pieces, which connect the foundation and tower... Continue Reading →

February 4, 2025 0

Mitsubishi Reassessing Japan Offshore Wind Projects Amid Market Changes

(Reuters) Mitsubishi Corp on Monday said it is reviewing how to proceed with its offshore wind projects in Japan given a "significantly changed" business environment, showing that the country is not immune to rising costs across offshore wind projects globally. Japan, which imports nearly everything for its energy needs, has bet on renewable energy to... Continue Reading →

February 3, 2025 0

Atlantic Shores Confirms Plan to Continue Progressing US Project as Shell Writes It Off

(offshoreWIND.biz) Shell has decided to pause its involvement in the Atlantic Shores offshore wind project in the US, which received federal approval in October 2024, the company’s CFO said during a press call after Shell posted its Q4 2024 financial results on 30 January. In its report for the fourth quarter, Shell included impairment charges... Continue Reading →

January 31, 2025 0

Denmark to halt offshore wind tenders to revamp subsidy model

(Reuters) - Denmark will halt all ongoing offshore wind tenders as the existing framework where no subsidies are offered does not work under current market conditions, its energy minister said on Friday. The global offshore wind industry has been hit by surging costs, rising interest rates and supply chain bottlenecks. Denmark said in December that its latest... Continue Reading →

January 31, 2025 1

Ørsted Appoints New CEO as Mads Nipper Steps Down

(OE) Ørsted has appointed Rasmus Errboe, current Deputy CEO and Chief Commercial Officer, as new Group President and CEO of the company replacing Mads Nipper who will step down from his position. Mads Nipper joined Ørsted in January 2021. He will step down as CEO on February 1, 2025, at which time Rasmus Errboe will... Continue Reading →

January 31, 2025 0

Norway’s wealth fund sticks to investments in renewables despite market setbacks

(Reuters) - Norway's $1.8 trillion wealth fund, the world's largest, remains committed to investments in renewable assets despite recent market setbacks and will seek opportunities in both the listed and private markets, a senior fund official said on Thursday. Renewable energy assets have significantly underperformed in the market in 2024, with some previous investor favourites... Continue Reading →

January 30, 2025 0

Vattenfall Pens PPA for Nordlicht 1 Offshore Wind Farm

Vattenfall has signed a power purchase agreement (PPA) with the chemicals group LyondellBasell (LYB) to provide it with fossil free electricity from the Nordlicht 1 offshore wind farm off the German coast. The agreement includes the supply of electricity from the Nordlicht 1 offshore wind farm over a period for 15 years, starting in 2028.... Continue Reading →

January 29, 2025 0

Japan Adjusts Rules for Offshore Wind Auction Rounds

(Reuters) The Japanese government on Wednesday announced a revision of its rules for offshore wind power auctions as the sector globally grapples with delays and soaring expenses driven by tight supply chains and inflation. After a number of consultations since September to find ways to ensure the completion of offshore projects, Japan's industry and land... Continue Reading →

January 29, 2025 0

Trump’s suspension of offshore wind power plants benefits the sector in Brazil, which is preparing an auction

(Folhapress) The decision by the President of the United States, Donald Trump, to suspend new wind power projects in the country, arguing that windmills “kill their birds and ruin their beautiful landscapes”, has the potential to boost the interest of investors in this sector in the Brazilian market. Trump's action mainly halts future leasing of... Continue Reading →

January 27, 2025 0

US offshore wind farms in service, in construction and under development

(Reuters) - U.S. President Donald Trump suspended new federal offshore wind leasing on his first day back in the Oval Office on Jan. 20, pending an environmental and economic review. On the same day, Danish energy company Orsted (ORSTED.CO), opens new tab, the world's biggest offshore wind firm, posted another impairment charge on delays to a U.S. offshore project.... Continue Reading →

January 25, 2025 0

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