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Philip Lewis, Contributor, Director Research at Intelatus Global Partners. (OE) Whereas the foundations of commercial offshore wind development are found in Europe (and Europe will remain the largest overall regional market for offshore wind activity in the coming decade), the rapid development of the large East Asia and Pacific region provides both opportunities and some challenges... Continue Reading →
(OE) Samsung Heavy Industries (SHI) and Equinor have signed a preferred supplier agreement for floating structures for the 750 MW Bandibuli offshore wind project being developed in South Korea. The supplier agreement for the fabrication and marshalling of the floating substructures for Bandibuli’s wind turbines was signed by SHI and Equinor on August 7, 2024.... Continue Reading →
Principle Power has signed a non-exclusive Memorandum of Understanding (MoU) with HSG Sungdong to cooperate on engineering developments for mass production and assembly of WindFloat® technologies. The agreement furthers the development of a sustainable domestic supply chain in South Korea and supports the country's ambition to achieve 14.3 GW of offshore wind capacity by 2030.... Continue Reading →
(OE) Vestas has signed a memorandum of understanding (MoU) with A.P. Moller-Maersk, Jeonnam Province, and Mokpo City to build an offshore wind hub in Mokpo City in the Jeonnam Province, South Korea. Under the MoU, the parties will work together with the aim to establish a nacelle manufacturing plant and logistical base for offshore wind... Continue Reading →
Today Hexicon AB (publ.) signed a Sales and Purchase Agreement (SPA) to take full ownershipof MunmuBaram Co., Ltd. from its joint venture partner Shell Overseas Investments B.V. Underthe agreement, Hexicon AB will increase its stake in the project from 20 % to 100 %, increasingthe project portfolio by 900 MW. Completion of the transaction is... Continue Reading →
(OE) Copenhagen Infrastructure Partner (CIP) has awarded a front-end engineering and design (FEED) contract to Aker Solutions and Principle Power for floating offshore wind projects in South Korea. Haewoori floating offshore wind 2 and 3 projects, each rated at 500 MW, are located off the coast of Ulsan. As part of the scope, Aker Solutions... Continue Reading →
(OW) Denmark-headquartered Copenhagen Infrastructure Partners (CIP) has signed a memorandum of understanding (MoU) with HSG Sungdong for the floating wind structures for its 1.5 GW Haewoori offshore wind project in South Korea. Under the non-binding MoU, the two companies plan to establish a partnership to explore opportunities to optimise the fabrication of floating foundations to... Continue Reading →
(OE) Offshore drilling company Valaris has taken delivery of newbuild drillships VALARIS DS-13 and DS-14 for an aggregate purchase price of approximately $337 million. VALARIS DS-13 and DS-14 will be mobilized from South Korea to Las Palmas in Spain, where the rigs will be stacked until they are contracted for work. The purchase of 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 →
(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 →
Brazil Energy Insight 