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Sandbrook Capital has acquired a majority stake in the the Norwegian offshore installation services company Havfram and has committed $250 million to fund the company's future growth. The new capital will be used to build a fleet of vessels for installation of offshore wind turbines and foundations (“WTIVs”). As part of the transaction, Havfram’s subsea... Continue Reading →
(Reuters) Norwegian oil and gas major Equinor on Monday said it was interested in developing a "gigawatt scale" floating offshore wind project off the coast of Britain in the Celtic Sea in connection with an upcoming seabed leasing round. The project is part of Crown Estate plans to offer leases to the industry next year,... Continue Reading →
Singapore-based Sembcorp Marine said Friday its subsidiary Sembmarine SLP had won a Planned Preventative Maintenance (PPM) contract with the Danish offshore wind developer Ørsted for the Hornsea 2 offshore wind farm, one of the world’s largest wind farms located 89 km off the Yorkshire coast in the UK North Sea. The PPM contract involves the... Continue Reading →
Italy-headquartered Prysmian Group has been awarded a contract by Réseau de Transport d’Électricité (RTE) to provide power grid asset management services for Saint-Nazaire, Fécamp, and Calvados wind farms offshore France. Under the contract, Prysmian Group will provide inspection, maintenance, and repair services for the submarine export cable links connecting the three offshore wind farms near the... Continue Reading →
(Reuters) - Danish energy firm Ørsted on Thursday lifted its profit outlook for the year on the back of high power prices, while third-quarter core earnings slightly lagged expectations on the back of soft performance in its key offshore unit. Ørsted now expects 2022 earnings before interest, tax, depreciation, and amortization, excluding new partnerships of... Continue Reading →
(OED) Mainstream Renewable Power and Ocean Winds said Wendesdayhave signed the seabed lease agreement with Crown Estate Scotland to the value of £36million for the development of a 1.8 GW floating offshore wind farm off Shetland. The companies were appointed preferred bidder by Crown Estate Scotland during the ScotWind clearing process in August 2022. With... Continue Reading →
Japan’s electricity utility Tokyo Electric Power Company (TEPCO) is set to acquire the Scottish floating wind specialist Flotation Energy. This is TEPCO's first investment in overseas wind power. Floation Energy founders Allan MacAskill and Lord Nicol Stephen developed Kincardine, the world’s largest floating windfarm in operation. Flotation Energy currently has interests in Morecambe in the... Continue Reading →
Italian energy industry services firm Saipem said Wednesday it had, in consortium with Bouygues Travaux Publics and Boskalis (BSB), installed and ballasted the Gravity-Based Structures (GBS) foundations for the Fécamp offshore wind farm in Normandy, France. In 2020, the BSB Consortium was awarded the contract for the design, construction, and installation works of the GBS.... Continue Reading →
(Reuters) Danish wind turbine maker Vestas reported on Wednesday a wider-than-expected operating loss for the third quarter, cutting its full-year outlook due to continued cost inflation and supply chain instability. Vestas cut its 2022 profit margin outlook to minus 5% from previously between minus 5% and 0%, and narrowed its full-year revenue forecast to between... Continue Reading →
(Reuters) - BP (BP.L) more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion, joining rivals in reporting bumper profits that have sparked renewed calls for energy companies to pay more taxes. London-based BP joins rivals including Shell (SHEL.L), Exxon Mobil and TotalEnergies (TTEF.PA) which also reported bumper profits last week... Continue Reading →
Brazil Energy Insight 