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(Reuters) - Siemens Energy's (ENR1n.DE) troubled wind turbine division is not expected to break even before 2026, analysts at JPMorgan and Deutsche Bank said on Wednesday, adding the unit's recovery would take longer than expected amid far-reaching problems. Frankfurt-listed shares in the company were trading 0.79% lower at 0653 GMT, two days after the group disclosed a... Continue Reading →
(Reuters) - BP's (BP.L) second-quarter profit slumped 70% from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy giant to boost its dividend by 10%. Rivals Chevron (CVX.N), Exxon Mobil (XOM.N), Shell (SHEL.L) and TotalEnergies (TTEF.PA) have also reported sharp drops in quarterly earnings, hurt by a drop in energy prices from highs... Continue Reading →
(Reuters) Germany raised installed offshore wind capacity by 3.1% to 8,385 megawatts (MW) in the first half of 2023, industry lobbies said on Tuesday, demanding better revenue guarantees to maintain a build-out pace and ensure it will reach a 30,000 MW target by 2030. Wind power is central to Germany's transition to renewable energy as... Continue Reading →
(Reuters) Spanish utility Iberdrola has sold a 49% stake in its 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea to Abu Dhabi's Masdar for about 375 million euros ($414.5 million), it said on Wednesday. Iberdrola said that the deal pegged the total value of the so-called Baltic Eagle project, which... Continue Reading →
Following the results of the latest German offshore wind auction, which went into the so-called negative bidding stage and ended up earning the State billions from the winning developers, WindEurope warned that this would be passed on to consumers and the supply chain, and called on the German government to avoid this approach in future... Continue Reading →
(OW) Germany’s first dynamic bidding process, covering four offshore wind zones with a combined capacity of 7 GW, has generated EUR 12.6 billion in proceeds, according to the Federal Network Agency. The bidding period for the participation in the tenders for the four areas that were not centrally pre-examined ended on 1 June. The auction... Continue Reading →
(Reuters) Spanish utility Iberdrola has signed an exclusive deal with Abu Dhabi's Masdar to develop a 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea, Expansion newspaper reported on Wednesday, citing unidentified market sources. The Baltic Eagle wind farm being built off Germany's northeastern coast will have 50 wind turbines and is part... Continue Reading →
Fraunhofer Institute for Wind Energy Systems (Fraunhofer IWES) has launched a new test rig that enables testing wind turbine blades longer than 115 metres. Vestas, whose latest wind turbine model features 115.5-metre blades, will use the rig to perform the trials needed before starting serial production. “The development of our new wind turbines is an important... Continue Reading →
German renewable energy group RWE has appointed Dr. Thomas Michel Chief Operating Officer (COO) of the company’s Offshore Wind business as of September 1, 2023. "Michel will take on responsibility for this newly created Board division as a very experienced manager who has worked at RWE for many years," RWE said. RWE said that the... Continue Reading →
(OE) German renewable energy firm RWE has signed an agreement with Luxembour-based offshore installation firm Jan De Nul Group to secure the long-term usage of two next-generation installation vessels, “Les Alizés” and “Voltaire, for future offshore wind foundation and turbine construction. The charters are supported by a Service Agreement through which Jan De Nul Group... Continue Reading →
