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(Reuters) European energy companies, including Denmark's Orsted, will likely write down more of their U.S. offshore wind investments this week after BP and Equinor booked $840 million in impairments in recent days. Orsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its... Continue Reading →
(OW) The Netherlands will reach, and exceed, the target set in its Offshore Wind Energy Roadmap 2023 by the end of this year. The country’s first offshore wind roadmap, created following the Dutch Energy Agreement signed ten years ago, sets a goal of 4.5 GW of installed capacity by the end of 2023 – and... Continue Reading →
(Reuters) A perfect storm of supply chain delays, design flaws, and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors, and analysts said. The race to reduce reliance on fossil fuels is putting pressure on... Continue Reading →
(Reuters) Britain's latest subsidy auction for new renewable energy projects awarded no contracts for offshore wind projects, the results published on Friday showed, drawing criticism from opposition politicians and environmental campaigners. In a 2022 auction, offshore wind projects were the main recipient of funding, with 7 gigawatts (GW) awarded. Offshore wind power is a key... Continue Reading →
(Reuters) The value of Danish energy company Orsted, the world's largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of new tax credits. The company is just one... Continue Reading →
(OET) The US Department of Energy (DOE) and the Department of the Interior (DOI) have unveiled plans to collaborate and jointly fund research to further support durable and environmentally responsible offshore wind and marine energy deployments in the United States. The agencies will launch the upcoming funding opportunity through Wind Energy Technologies Office (WETO), Water... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) and its partner BP (BP.L) are seeking a 54% increase for the price of power produced at three planned offshore U.S. wind farms, according to a filing made by a New York state regulatory authority. The two partners in recent years won the rights to build the Empire Wind 1, Empire Wind 2 and... Continue Reading →
(RE) Brazil has the potential to produce up to 1.8 billion tonnes of hydrogen a year at some of the lowest costs in the world, officials in Brasilia have said, with nearly 20% coming from projects supplied with power from offshore wind. For the time being, however, there are no offshore wind projects in development... Continue Reading →
(OE) UK-based CRP Subsea has recently won a "major" contract from an unnamed "leading energy technology company," AIS, CRP's parent company, said this week. CRP Subsea will deliver 333 distributed buoyancy modules (DBMs) for a deepwater oil field project located in the pre-salt Santos Basin, offshore Brazil. Distributed buoyancy modules (DBMs) are typically used between structures... 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 →
Brazil Energy Insight 