New Massachusetts Bill Extends Offshore Wind Contracts to 30 Years, Heads to Governor’s Desk

(offshoreWIND.biz) The Massachusetts State Legislature has passed a clean energy bill aimed at strengthening future offshore wind contracts. Among other provisions, the bill would allow the state to negotiate contracts of up to 30 years, extending the current 20-year limit. According to Massachusetts State Senator Karen E. Spilka, the legislation allows future offshore wind contracts to... Continue Reading →

November 18, 2024 0

Net zero target needs $3.5 trillion in annual green energy investment, Wood Mackenzie says

(Reuters) - Investment in the green energy transition needs to double to $3.5 trillion per year if the world is to meet the Paris Agreement's goal of reaching net zero emissions by 2050, a report by Wood Mackenzie said on Tuesday. On top of the investment gap, the consultancy's analysis said global efforts to shift... Continue Reading →

October 29, 2024 1

Eletrobras, Ocean Winds sign MOU to assess offshore wind projects in Brazil

(Reuters) – Eletrobras (ELET3) has entered into a partnership with Ocean Winds, a joint venture between Engie and EDP Renováveis dedicated to offshore wind energy, to study the development of offshore wind projects in Brazil. The memorandum of understanding signed by the companies on Tuesday provides for the sharing of knowledge and joint work on... Continue Reading →

October 23, 2024 0

Colombia court suspension of Uchuva-2 well threatens energy security, say industry groups

(Reuters) - A ruling from a Colombian court that ordered the suspension of work at a major offshore gas well is a threat to the country's energy security, industry groups the Colombian Petroleum Association (ACP) and Naturgas said on Monday. In a court order dated Sept. 11, a judge said activities at well Uchuva-2, on the... Continue Reading →

September 16, 2024 0

Brazil’s hydropower faces risk from drying river basins

(Reuters) - Soil moisture in Brazil's main river basins used for hydropower generation has fallen to nearly two-decade lows, data collected by the London Stock Exchange Group shows, threatening a prolonged impact from a serious drought even after rains return. Tropical rains feeding Brazil's vast network of rivers typically allow hydropower plants to generate around... Continue Reading →

September 12, 2024 0

Drought Strains Brazil Hydropower Supply, Raising Energy Costs

(Bloomberg) A worsening drought across Brazil that has stoked record wildfires and withered crops now threatens the country’s power supply, raising the risk of higher prices and blackouts in South America’s largest economy. Hydroelectric plants supply more than half of Brazil’s power, typically at low cost. But the reservoirs that feed those plants are shrinking... Continue Reading →

August 29, 2024 0

MODEC and Altera: Marrying FPSO tech with renewable and low-carbon plays to shape energy transformation beyond oil & gas

(offshore-energy.biz) Given the rising expectations about oil and gas, especially liquified natural gas (LNG), being in demand even after 2050, entwining innovation and technology arms is increasingly being recognized as the right recipe to not only unleash untapped low-carbon barrels but also unlock the gates of green power. Japan’s MODEC and the UK-based Altera Infrastructure... Continue Reading →

August 29, 2024 0

Underwater Power Grids Could Revolutionize How the US East Coast Gets Its Electricity

(Source: The Conversation) Offshore winds have the potential to supply coastlines with massive, consistent flows of clean electricity. One study estimates wind farms just offshore could meet 11 times the projected global electricity demand in 2040. In the U.S., the East Coast is an ideal location to capture this power, but there’s a problem: getting electricity... Continue Reading →

August 1, 2024 0

Valaris DS-17 will drill the Raia project in Brazil

Equinor, on behalf of its partners in the Raia project – Repsol Sinopec Brasil and Petrobras, awarded Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, a drilling contract for operations in Brazil. Drilling activities are scheduled to begin in 2026. The objective is to drill six wells, with... Continue Reading →

July 22, 2024 0

Portugal plans to raise share of renewables in electricity consumption to 93% by 2030

(Reuters) - Portugal plans to raise the contribution of renewables in electricity consumption to 93% by 2030, as part of its decarbonisation push, according to an updated draft of its energy and climate plan seen by Reuters on Monday. However, the draft proposal plans to lower the 2030 target for the installed capacity of electrolyzers... Continue Reading →

July 22, 2024 0

Blog at WordPress.com.

Up ↑

Category: Energy Security