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(OW) The International Marine Contractors Association (IMCA) has published the “industry’s first” standard contract for transport and installation (T&I) works in offshore wind projects. The contract has been written to ensure a fairer allocation of risk, IMCA said. Building on the organisation’s contracting principles release in January, its publication comes on the heels of an... Continue Reading →
(Reuters) New York released a new offshore wind solicitation on Thursday to keep the state on track to meet its renewable energy goals and support a nascent industry that has faced financial trouble in recent months. Offshore wind is expected to play a major role in New York's plan to reduce carbon emissions by getting 70% of... Continue Reading →
(OE) Vestas has received a 203MW order to power an undisclosed wind project in the US. The order consists of 45 V163-4.5MW wind turbines. The orders include supply, delivery, and commissioning of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement, designed to ensure optimized performance of the asset. Turbine delivery begins in the... Continue Reading →
(Reuters) International energy companies, from Germany's RWE to Spain's Iberdrola, are urging Japan to beef up offshore wind power auctions and make investments more attractive, amid soaring installation costs as competition for suppliers grows worldwide. Although desperate to ease its heavy dependence on energy imports from the Middle East and Russia, Japan is coming late to offshore wind,... Continue Reading →
(Reuters) - Colombia's state-run oil company Ecopetrol (ECO.CN) will invest between $5.7 billion and $6.7 billion and produce up to 730,000 barrels per day equivalent (boepd) in 2024, it said in a statement. A majority of that spending, about $4.8 billion, will go toward keeping production between 725,000 and 730,000 boepd, the company's refineries at between 420,000... Continue Reading →
(Reuters) - Brazil hopes to join the OPEC+ group of oil-producing countries in January after a full technical analysis, the country's energy minister said on Thursday, however sources said Brazil is not expected to take part in the group's coordinated output caps. President Luiz Inacio Lula da Silva's office confirmed receiving the invite during his... Continue Reading →
(Reuters) - OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut. Saudi Arabia, Russia and other members of OPEC+, who pump more than 40% of the world's oil, met online on Thursday... Continue Reading →
The Chamber of Deputies approved the legal framework for offshore wind farms, an important step forward for the development of projects of this type in the country. However, the inclusion of amendments not related to the main theme of the text raised concerns and generated complaints in the sector. Bill 11,247/2018 received 403 votes in... Continue Reading →
(OE) Floating platform developer Gazelle Wind Power has appointed clean energy finance industry expert Álvaro Ortega as Chief Financial Officer (CFO). Ortega is the former Vice President of Finance at Avangrid Inc., a publicly traded company on the NY Stock Exchange and the U.S. subsidiary of global energy leader Iberdrola. “Finding someone with a track record like Álvaro’s is... Continue Reading →
(OW) Ørsted has secured an Electricity Business License (EBL) from the Ministry of Trade, Industry and Energy of the Republic of Korea for the 1.6 GW Incheon offshore wind project. The license grants Ørsted exclusive development rights for its gigawatt-scale Incheon offshore wind project which is set to become the largest in Korea on completion... Continue Reading →
