With ‘outstanding’ financial results in 2023, Prysmian increases its decarbonization ambition

(Offshore-energy.biz) Italian cabling giant Prysmian in 2023 delivered what it says was a “remarkable performance” with “outstanding” financial results, record backlog in Transmission, as well as increased 2030 emission reduction ambition. For the financial year 2023, Prysmian’s adjusted EBITDA rose by 9.4% to €1,628 million, with improving margins at 10.6% compared to 9.3% in 2022 – a year that Prysmian... Continue Reading →

March 18, 2024 0

New York’s Empire Wind 1 Gets Federal Green Light for Grid Connection

(OE) Equinor has received an approval from the Federal Energy Regulatory Commission (FERC) to connect the Empire Wind 1 offshore wind project directly into the New York City’s transmission system. Approved on March 1, the Large Generator Interconnection Agreement (LGIA) executed between Equinor's Empire Wind 1 project, New York ISO (NYISO) and Consolidated Edison Company... Continue Reading →

March 14, 2024 0

European Commission Allots $7.4B for Hydrogen Infrastructure

(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 →

February 21, 2024 0

Prysmian Signs $5B Contracts with Amprion for Germany’s Offshore Wind

(OE) Italian cable maker and installation services provider Prysmian Group has secured three contracts with German transmission system operator Amprion worth around $5 billion, for two offshore grid connection systems - BalWin1 and BalWin2 - and the underground cable project DC34. The contracts follow the selection of Prysmian as preferred bidder in August 2023. The... Continue Reading →

February 15, 2024 0

Coastal Virginia Offshore Wind Farm Gets Final Federal Blessing

(OE) Dominion Energy, the developer of Coastal Virginia Offshore Wind (CVOW) farm, has secured the last two major federal approvals needed to begin the construction of the 2.6 GW project. The approvals are keeping the largest offshore wind farm in the United States on schedule to generate clean, renewable energy to power up to 660,000... Continue Reading →

January 31, 2024 0

US Publishes Draft Bill to Boost Offshore Wind

(OW) Rhode Island Senator Sheldon Whitehouse has released a draft version of a bill that would streamline the offshore wind development process and get new sources of affordable clean energy on the grid. Senator Whitehouse requests feedback on his bill from all stakeholders, including federal, state, and local agencies, industries, developers, and communities. The Senator... Continue Reading →

January 12, 2024 0

Subsea interconnectors as protagonists of offshore renewable grid story – long read

(OET) As the world puts more gumption into its energy transition journey, subsea interconnectors open new opportunities for sharing the access and use of renewable energy, such as offshore wind power, between countries while upping the decarbonization ante and strengthening the security of electricity supply. The role of subsea cables in energy security and transition... Continue Reading →

December 29, 2023 0

Brazil’s priciest power transmission auction expects few bidders

(Reuters) - Brazil's largest-ever power transmission auction by expected investment volume may see little competition, experts and executives said, as the need for billions of dollars in investments and tech expertise may dissuade potential bidders. In the last five years, Brazil's transmission lines auctions have had on average at least six bidders for each allotment,... Continue Reading →

December 8, 2023 0

Colombia’s Ecopetrol to invest up to $6.7 billion in 2024

(Reuters) - Colombia's state-run oil company Ecopetrol (ECO.CN) will invest between $5.7 billion and $6.7 billion and produce up to 730,000 barrels per day equivalent (boepd) in 2024, it said in a statement. A majority of that spending, about $4.8 billion, will go toward keeping production between 725,000 and 730,000 boepd, the company's refineries at between 420,000... Continue Reading →

December 1, 2023 0

Netherlands Overshoots 2023 Offshore Wind Target

(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 →

October 23, 2023 0

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