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In its four years of operation, the world’s first semi-submersible floating offshore wind farm, WindFloat Atlantic, has surpassed anticipated production figures, achieving a total cumulative output of 320 GWh. Connected to the grid by the end of 2019 and fully commissioned in 2020, the floating offshore wind farm was developed by the Windplus consortium formed... 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 →
Tokyo Gas has acquired a 21.2 per cent stake in WindFloat Atlantic, the 25.2 MW floating offshore wind farm in Portugal. WindFloat Atlantic, operated by Windplus, a majority-owned subsidiary of Ocean Winds, has been operational since 2020. According to the Japanese company, this is Tokyo Gas’s first direct investment in an overseas floating offshore wind... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia's huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday. If accepted, the bid would make Petrobras the operator of the Mopane oil and gas field, which has an... Continue Reading →
(Reuters) - Portugal plans to raise the contribution of renewables in electricity consumption to 93% by 2030, as part of its decarbonisation push, according to an updated draft of its energy and climate plan seen by Reuters on Monday. However, the draft proposal plans to lower the 2030 target for the installed capacity of electrolyzers... Continue Reading →
(Reuters) Portugal's Galp Energia on Monday reported its second quarter adjusted net profit jumped 16% and beat expectations as higher oil price and lower cost of production offset lower production and stable refining margin. It booked an adjusted net profit of 299 million euros ($325.34 million), more than the 236 million euros expected by 18... Continue Reading →
(Reuters) - Portugal's new government is committed to developing offshore wind energy and also sees "repowering" onshore wind farms and promoting solar projects, including small-scale ones, as a priority, the environment minister said on Monday. Maria da Graca Carvalho said the government would announce some details of its offshore wind energy policy in July as... Continue Reading →
ONYX Insight has bolstered its global operations across Latin America, Spain and Portugal with several new deals, including two multi-year contracts, to deliver its predictive maintenance technology to wind farms in Spain and Brazil. The company currently monitors more than 1,500 turbines in Brazil, Peru, Chile, Mexico, and Costa Rica, using a combination of its... Continue Reading →
(Reuters) The global market for offshore wind projects is improving with governments and companies now offering high enough prices to make projects economically viable, the CEO of Portugal's largest utility Energias de Portugal (EDP) said on Tuesday. Many countries are relying on a huge and rapid build-out of offshore wind farms to meet climate targets... Continue Reading →
(RZ) The European Commission (EC) is allotting up to $7.43 billion (EUR 6.9 billion) in public funding for hydrogen infrastructure projects. The EC approved the third Important Project of Common European Interest (IPCEI), which aims to boost the supply of renewable energy in the European Union (EU), reduce dependence on natural gas, and help achieve... Continue Reading →
Brazil Energy Insight 