Brought to you by Quest Offshore & Southern Cone Consultants
(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 →
(OE) TotalEnergies has launched a pilot project consisting of a floating wind turbine to supply renewable power to the Culzean offshore platform in the UK North Sea. Culzean is a high-pressure, high-temperature gas condensate field located in Block 22/25a in the East Central Graben area. The 3MW floating wind turbine will be located 2km west... Continue Reading →
(OE) Mainstream Renewable Power, the pureplay global wind and solar company majority-owned by Aker Horizons, has announced that KF Wind, a 1,125MW floating offshore wind project being developed off the coast of Ulsan, South Korea, has secured the Environmental Impact Assessment (EIA) approval from the Ministry of Environment for the totality of the two-phase project.... Continue Reading →
(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 →
(Reuters) - Norwegian energy company Equinor has cancelled its offshore-wind projects in Spain and Portugal, in addition to its previously announced exit from Vietnam, and could withdraw from more countries to rein in spending, an executive told Reuters on Wednesday. "We have been actively pursuing early-phase opportunities in a series of markets around the world, in different... Continue Reading →
(offshoreWIND.biz)The California Public Utilities Commission (CPUC) has finalised its plan to facilitate the state’s procurement of more than 10 GW of large-scale renewable energy and storage, including 7.6 GW of (floating) offshore wind. CPUC has voted to adopt a proposed decision from July, directing the Department of Water Resources (DWR) to procure electrical resources with... Continue Reading →
(Reuters) - China's Sinopec posted a 2.6% rise in net profit for the first half of the year as record oil and gas output compensated for falling domestic demand for refined fuel and petrochemicals. China Petroleum & Chemical Corp., as Sinopec is officially known, reported on Sunday a net income of 37.1 billion yuan ($5.21... Continue Reading →
(Reuters) - Norway's sovereign wealth fund said on Monday it will commit 900 million euros ($1.01 billion) to the latest renewable energy fund of investment firm Copenhagen Infrastructure Partners (CIP). Norges Bank Investment Management (NBIM) committed the sum to CIP's fifth flagship fund CI V, which invests in offshore and onshore wind, solar farms, grid... Continue Reading →
This is an op-ed piece by Liz Burdock, Founder and CEO of Oceantic Network, the US offshore renewable energy industry organisation. (offshoreWIND.biz) When I started Oceantic Network 11 years ago, I was motivated by the confident belief that offshore wind would be an economic and environmental game-changer for the U.S. Not only because of the industry’s... Continue Reading →
(Reuters) - Wind and solar energy producers in Brazil have warned they are reconsidering future investments there after the national grid operator repeatedly capped how much energy they could deliver in the past year, which squeezed their profits. Brazil has made big strides encouraging companies to invest in wind, solar and other renewable power generation... Continue Reading →
Brazil Energy Insight 