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(OW) Operating offshore wind capacity in China has reached 31.4 GW and accounts for approximately 10 per cent of the country’s total wind capacity which has doubled from 2017 and now exceeds 310 GW, according to a report from Global Energy Monitor (GEM), a US-based non-profit organisation that tracks fossil and renewable energy projects worldwide.... Continue Reading →
Italy-headquartered cabling giant Prysmian Group has divulged its new near-term and net-zero greenhouse gas (GHG) emission reduction targets, which will enable it to reach its sustainability goals. Prysmian explains that it is committed to reducing total Scope 1 and 2 GHG emissions by 47 per cent by 2030 compared to the 2019 baseline. In addition,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has acquired international certification that ensures that 100% of the electricity used in its industrial and administrative operations in Brazil is generated by renewable sources. This seal - called I-REC certification (Renewable Energy Certificate) - attests that the electricity Petrobras acquires from external suppliers is generated exclusively... Continue Reading →
(OW) POSCO International has signed a Memorandum of Understanding (MoU) with Denmark-based Copenhagen Infrastructure Partners (CIP) to cooperate on offshore wind and green hydrogen business development. Under the MoU, the two companies will work together to develop offshore wind projects in Pohang, which would serve as a base for supplying renewable energy to POSCO’s Pohang... Continue Reading →
In the first volume of the World Energy Transitions Outlook (WETO) 2023, the International Renewable Energy Agency (IRENA) calls for raised global ambition in renewables deployment. The WETO 2023: 1.5°C Pathway positions electrification and efficiency as key transition drivers, enabled by renewable energy, clean hydrogen, and sustainable biomass and tracks implementation across all energy sectors.... Continue Reading →
(Reuters) Siemens Energy saw $6.3 billion wiped off its market capitalization on Friday after warning that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years. The group scrapped its 2023 profit outlook late on Thursday after a review of its wind turbine division exposed deeper-than-expected problems that... Continue Reading →
(OW) Freja Offshore, a joint venture between Hexicon and Mainstream Renewable Power, has submitted an application for an offshore wind farm in Sweden that could have an installed capacity of between 2 GW and 2.5 GW and, according to the project’s consultation document, could feature wind turbines of up to 30 MW per unit. The... Continue Reading →
Italy’s oilfield services provider Saipem has strengthened its financial structure and liquidity, after its two new credit facilities, totalling €860 million (nearly $945 million), came into effect. Saipem entered into two new credit facilities in February 2023 with a pool of leading national and international banks. The effectiveness of these credit facilities was subject to the enactment... Continue Reading →
Portuguese energy company Galp has decided to join forces with French energy major TotalEnergies to explore the potential development of wind projects offshore Portugal. The partnership combines Galp’s knowledge of the Portuguese market with TotalEnergies’ expertise in large-scale offshore wind projects, according to the press release. The partners said that they intend to contribute with... Continue Reading →
Hammerfest Energy and Varanger Kraft have decided to join the Blåse Energi consortium focused on developing floating offshore wind projects in Norway. According to the press release, Hammerfest Energi and Varanger Kraft will contribute with expertise around grids and grid planning, as well as dialogue with the Norwegian authorities. “Offshore wind is a new area... Continue Reading →
Brazil Energy Insight 