New research project looking to minimize failure and repair costs of floating wind dynamic cables, mooring lines

(offshore-energy.biz) A new project has been launched in the UK to improve the effectiveness of mooring lines and dynamic cables on floating offshore wind farms. Historically, mooring repair costs for oil production assets have exceeded GBP 400 million (approximately $542 million; €461 million) for a single incident, while cable failures have accounted for between 70%... Continue Reading →

July 25, 2025 0

Britain to lift offshore wind auction power price guarantees by 11%

July 24 (Reuters) - Britain will increase the guaranteed price offered for offshore wind projects in this year’s renewables auction by 11%, government documents showed, amid rising costs for projects due to inflation and supply chain bottlenecks. The Labour government is facing mounting pressure from opposition parties over the affordability of its net-zero plan and... Continue Reading →

July 24, 2025 0

Iberdrola raises $5.9 billion to fund growth in US, Britain

July 23 (Reuters) - Europe's largest utility Iberdrola raised five billion euros ($5.87 billion) through a capital increase on Wednesday to help pay for a big rise in investments in power grids in Britain and the United States. The company plans to step up annual investments to around 15 billion euros from around 12 billion euros,... Continue Reading →

July 23, 2025 0

Green hydrogen retreat poses threat to emissions targets

July 23 (Reuters) - Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels. The challenges facing the sector have exposed its initial ambitions as unrealistic. Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation, have... Continue Reading →

July 23, 2025 0

BP names outsider Albert Manifold as chairman as investors push for turnaround

(Reuters) - BP named outsider Albert Manifold, the former boss of building materials producer CRH, as its new chairman on Monday, as it grapples with a major strategy reversal in an attempt to turn around a weak share performance. Manifold, who has not previously held a senior position in the energy sector, will succeed Helge Lund... Continue Reading →

July 21, 2025 0

Iberdrola Picks Up $4.9B to Finance 1.4GW UK Offshore Wind Farm

(OE) Iberdrola has signed green financing agreement with 24 banks for the East Anglia THREE offshore wind farm, being developed together with Abu Dhabi Future Energy Company (Masdar). The transaction valued at $4.88 billion, which was 40% oversubscribed, is one of the largest of its kind to date and will cover a substantial part of... Continue Reading →

July 14, 2025 0

UK Bags $10B Japanese Investment for Offshore Wind and Hydrogen Projects

(OE) The U.K. government has unlocked $10.1 billion investment into key clean energy projects, like offshore wind and hydrogen, with the signing of a new deal with the Sumitomo Corporation in Tokyo. Sumitomo Corporation aims to facilitate the investment into key U.K. infrastructure and clean energy projects by 2035, backing the government’s aim to significantly... Continue Reading →

July 9, 2025 0

Britain’s Crown Estate reports profit of 1.15 billion pounds, led by offshore wind

(Reuters) - The Crown Estate, which manages King Charles' public property, reported an annual net profit of 1.15 billion pounds ($1.57 billion) on Tuesday, similar to the previous year, with offshore wind leases its biggest source of revenue. The Crown Estate, which comprises tracts of land and most of Britain’s sea bed, is an independently... Continue Reading →

July 1, 2025 0

Argentina asks UK court to pause enforcement in $16 bln oil company seizure case

(Reuters) - Argentina on Monday urged London's High Court to pause enforcement of a $16 billion-plus United States court judgment over the expropriation of oil and gas company YPF, pending an appeal by the Argentinian government in the U.S. The South American republic was ordered in 2023 to pay minority shareholders around $16 billion resulting from its... Continue Reading →

June 30, 2025 0

Prysmian to supply export cables for Welsh tidal energy array

(offshore-energy.biz) The Italy-based global power cable manufacturer Prysmian will supply subsea export cables for the HydroWing tidal energy array, led by UK-based Inyanga Marine Energy Group at the Morlais site off Anglesey, Wales. Scheduled for deployment in early 2026, the HydroWing array aims to deliver 20 MW of predictable marine energy to the UK grid... Continue Reading →

June 26, 2025 0

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