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The offshore wind industry had by far its busiest half-year ever for final investment decisions in 1H 2020, surpassing the full-year figures from 2019, according to the latest report from research company BloombergNEF (BNEF). Offshore wind financings in 1H 2020 totaled $35 billion, up 319% year-on-year and even well above 2019’s record full-year figure (a... Continue Reading →
Siemens AG shareholders approved a spinoff of the company’s energy business, one of CEO Joe Kaeser’s last major moves to reshape the German industrial stalwart. More than 99% of shareholders approved the motion to create an independent Siemens Energy AG at an extraordinary shareholder meeting on Thursday. The company, with almost 29 billion euros ($33... Continue Reading →
July 6, 2020 Petrobras withdrew from the pilot plant project for offshore wind generation in Rio Grande do Norte, informed the Emissions and Climate Change manager of the state-owned company, Viviana Coelho, during a webinar promoted by EPBR, on Friday (3/7). In October 2019, Petrobras requested prior and installation licenses to implement the project the... Continue Reading →
Quest FWE will moderate a podcast with Oil & Gas Majors July 2nd on the opportunities ahead in Floating Wind. Paul Hillegeist of Quest FWE will set the stage with a Market Overview and moderate a panel discussion with Aker Solutions, Equinor and Shell to gain their key insights on the burgeoning opportunities and challenges... Continue Reading →
Offshore wind currently represents just a small piece of the world’s energy supply. But that’s changing faster than ever before as new and existing players look to tap the huge resource potential—and market opportunities—being unlocked by shrinking costs and technological advances, as outlined in a recent comprehensive market report. In the coming two decades, the... Continue Reading →
Amid what the IEA has dubbed a “dismal” year for fossil fuels, the one bright spot is the performance of renewables sector, which is still expected to grow by 1% this year. That is a serious downgrade on the sector’s record performance last year, when global wind power capacity grew by almost a fifth. Nonetheless,... Continue Reading →
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards... Continue Reading →
Italian provider of oilfield and renewable energy services Saipem has signed a two-year frame agreement with Norway's Equinor covering offshore engineering services worldwide. Per Saipem's statement on Tuesday, The frame agreement covers feasibility and conceptual studies, FEED, detailed engineering, and related follow-on and support for R&D activities, as well as assistance to Equinor for its... Continue Reading →
Wind turbine maker Siemens Gamesa has unveiled a new SG 14-222 DD offshore Direct Drive wind turbine with 14-megawatt (MW) capacity. The capacity can reach up to 15 MW using the company’s Power Boost function, a 222-meter diameter rotor, 108-meter long blades, and a 39,000 m2 swept area. Continue reading
The enormous potential that offshore wind energy may be able to offer has been making headlines around the world. In late 2019 the Norwegian energy giant Equinor confirmed that its massive investment in the 88 MW Hywind Tampen Offshore Floating Wind (OFW) farm was going ahead. A few days later the International Energy Agency, IEA,... Continue Reading →
Brazil Energy Insight 