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(Reuters) - Flotation Energy and Vaargroenn, a joint venture between Eni unit Plenitude and private equity firm HitecVision, said on Tuesday their floating offshore wind project Green Volt won a contract at Britain's latest renewable power auction. The 2.5 billion pound ($3.28 billion) initiative, which is expected to have a capacity of up to 560 megawatts, is... Continue Reading →
(OE) TotalEnergies has launched a pilot project consisting of a floating wind turbine to supply renewable power to the Culzean offshore platform in the UK North Sea. Culzean is a high-pressure, high-temperature gas condensate field located in Block 22/25a in the East Central Graben area. The 3MW floating wind turbine will be located 2km west... 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 →
(offshore-energy.biz) JDR Cable Systems is already at the forefront of the production and supply of dynamic subsea cables to the floating wind market and will become a leader as the market expands, JDR’s Chief Strategy and Compliance Officer said in an interview with our sibling news site offshoreWIND.biz. The UK-based offshore wind cable supplier has already... Continue Reading →
(offshore-energy.biz) Dubai-headquartered engineering and services company Kent is developing a comprehensive report aiming to offer guidance for determining the cost of decarbonization, including its societal aspect, in the upstream oil and gas industries on behalf of the London-based Energy Institute. While the guideline document will focus on the UK North Sea, it will be written... Continue Reading →
(OE) British startup DRIFT Energy has closed a seed funding round for making green energy at sea using hi-tech sailing vessels. Led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, and with support from Blue Action Accelerator, the company has secured £4.65 million ($6 million),... Continue Reading →
(offshoreWIND.biz) The Crown Estate has invited proposals from the pre-qualified bidders in the Round 5 seabed leasing process which will award up to 4.5 GW of floating wind capacity in the Celtic Sea. On 13 August, The Crown Estate said the second phase of the leasing process got underway on 8 August, following the conclusion... Continue Reading →
(Reuters) BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail. The result will ease pressure on CEO Murray Auchincloss after BP fell short of profit expectations in the previous two quarters.... Continue Reading →
(Reuters) Britain’s Crown Estate, which manages King Charles' public property, posted a record profit for 2023/24 of 1.1 billion pounds ($1.42 billion), boosted by income from offshore wind leases, its results showed on Wednesday. The Crown Estate, which comprises tracts of land and most of Britain’s sea bed, is an independently run, commercial business, whose... Continue Reading →
(Reuters) Britain's renewables industry has called on the new Labour government to increase the country’s renewable auction budget by hundreds of millions of pounds to help meet its offshore wind target and wider goal to decarbonize the power grid. Labour swept to victory in Britain’s election last week and the party has pledged to expand... Continue Reading →
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