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One of Japan's largest offshore wind farms has started commercial operation in the prefecture of Hokkaido. Tokyo-based renewable energy company Green Power Investment built the facility in Ishikari Bay, off the coast of western Hokkaido. It has 14 turbines, each of which is 196 meters tall. The wind farm started commercial operation at the start... Continue Reading →
Aker Solutions has signed a front-end engineering and design (FEED) contract with the Marine Energy Test Centre (METCentre) in Norway to pilot new subsea power system technology which has the potential to reduce costs and complexity of offshore wind farms. The project will see Aker Solutions provide new power transmission technology, Subsea Collector, for the... Continue Reading →
(OET) As the world puts more gumption into its energy transition journey, subsea interconnectors open new opportunities for sharing the access and use of renewable energy, such as offshore wind power, between countries while upping the decarbonization ante and strengthening the security of electricity supply. The role of subsea cables in energy security and transition... Continue Reading →
(CNN) The Biden administration issued long-awaited preliminary guidance Friday on its expansive clean hydrogen tax credit, tilted in favor of hydrogen produced from clean electricity. The hydrogen tax credit is one of the most generous subsidies contained in the Inflation Reduction Act — giving companies up to $3 for every kilogram of hydrogen produced. Along with other... Continue Reading →
(Reuters) - The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs. The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals... Continue Reading →
(OE) German utility RWE on Thursday said it would acquire three offshore wind projects off the English coast from Sweden's Vattenfall in a deal that values the assets at 963 million pounds ($1.2 billion). The UK Norfolk Offshore Wind Zone portfolio consists of three 1.4 gigawatt projects, RWE said. The transaction was expected to close... Continue Reading →
(OW) Ørsted has taken the final investment decision (FID) on what the company says is the world’s single largest offshore wind farm, the 2.9 GW Hornsea 3, which is expected to be completed around the end of 2027. In July 2022, Ørsted was awarded a contract for difference (CfD) for Hornsea 3 at an inflation-indexed strike price of GBP... Continue Reading →
(OW) Vattenfall has signed agreements with Vestas for three large-scale offshore wind projects in the Norfolk Zone, UK, where the developer plans to use the new V236-15 MW wind turbines. This marks a switch in the wind turbine model planned for the projects as the developer first named Siemens Gamesa as the preferred supplier in... Continue Reading →
Philip Lewis, Contibutor (OE) The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices. In particular, the amendments aim to move away from inflexible... Continue Reading →
(OE) Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look at 10 factors that will shape the offshore wind sector in 2024. 1. A Continuously Dynamic Energy... Continue Reading →
Brazil Energy Insight 