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(Reuters) Spanish power company Iberdrola is considering the sale of a stake in its U.S. renewables business to help to finance new investments, two sources with knowledge of the matter told Reuters. One of the sources said that Iberdrola had appointed a bank to work on a possible sale of a minority stake in the... Continue Reading →
(Reuters) The chief executive of Italy's Eni Claudio Descalzi is on course to secure Prime Minister Giorgia Meloni's backing for an unprecedented fourth term at the top energy group, sources told Reuters. Another three years in office would make Descalzi, who has held the job since 2014, the longest-serving company head at the state-controlled group... Continue Reading →
(OP) A series of high-quality oil discoveries in Block 58 offshore Suriname combined with investment bank Morgan Stanley estimating that the block contains 6.5 billion barrels of oil sparked optimism that Suriname will replicate Guyana’s immense oil boom. This is bolstered by evidence that the U.S. Geological Survey grossly underestimated the Guyana-Suriname Basin’s oil resources. Disappointingly, after... Continue Reading →
(Reuters) - Charges unveiled by two offshore wind sector leaders highlight the challenges the fast-growing renewables industry is facing, ranging from quality issues to cost inflation, that are hitting profit outlooks. Denmark's Orsted (ORSTED.CO), the world's No. 1 offshore wind farm developer, late on Thursday announced a writedown on a large U.S. offshore wind project and... Continue Reading →
(Reuters) - Germany on Friday said it has drawn up new development plans for offshore wind turbine sites to reach a target for 30 gigawatts (GW) of installed wind power capacity by 2030. The plans by the Federal Maritime and Hydrographic Agency (BSH) will ensure that the target can be met, the Economy Ministry said... Continue Reading →
Bureau Veritas has been awarded the project certification of Arklow Bank Wind Park Phase 2, off the east coast of Ireland at Arklow, Co. Wicklow, following a competitive tender process. SSE Renewables, the owner of the project, will invest up to €2.5 billion to deliver the project, which is targeting operation in 2028. The company... Continue Reading →
EDP, a company that operates throughout the Brazilian electricity sector chain, launched in São Gonçalo do Amarante, Ceará, its green hydrogen production plant as part of the Pecém Research & Development project H2V, which had an investment of R$ 42 million. In December, the company had already generated the country's first green hydrogen molecule at... Continue Reading →
(Reuters) - Shares in Danish energy company Orsted (ORSTED.CO) tumbled by more than 7% on Friday after announcing a writedown on a large U.S. offshore wind project and an earnings forecast for 2023 that fell short of analyst estimates. Despite rising demand for green energy, dark clouds are gathering over the offshore wind power industry as rising... Continue Reading →
(Reuters) King Charles told the British government he would like the expected surge in profit from a 900 million pound ($1.1 billion)-a-year wind farm deal for his Crown Estate to go to the "wider public good" rather than to the royal family. Under agreements announced on Thursday, the Crown Estate will lease sites for six... Continue Reading →
(Reuters) - Siemens Energy on Thursday slashed its 2023 profit outlook after faulty components at the wind turbine fleet of its Siemens Gamesa unit led to higher warranty and maintenance costs, marking the latest setback in the group's troubled relationship. The German supplier of equipment to the power sector, which was spun off from Siemens... Continue Reading →
Brazil Energy Insight 