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The UK’s pipeline of offshore wind projects has reached 97,944 MW, up from 91,287MW a year ago, while the global pipeline topped 1.23TW, an increase of nearly 400GW in the last year. This is according to RenewableUK’s latest EnergyPulse market intelligence data report. The pipeline includes projects at every stage of development: operational, under construction,... Continue Reading →
Active floating drilling rig utilization has rebounded from a low of 65% in 2018 to over 85% in 2023, energy intelligence group Wood Mackenzie said Monday, adding that the growth in demand and rates could even spur construction of new offshore rigs. "According to Woodmac, the number of contracted ultra-deepwater (UDW) benign rigs has returned... Continue Reading →
(RE) Floating offshore wind (FLOW) has long been hailed as the pivotal technology for the globalisation of offshore wind. It will unlock vast new areas of sea with high wind speeds, enabling offshore to reach over 1,500GW of operational capacity by 2050. Without cost-effective FLOW, there is unlikely to be any significant offshore wind development... Continue Reading →
(OE) The installation of the first monopiles and transition pieces has kicked off for the first commercial-scale offshore wind farm in the United States - the Vineyard Wind 1. “We can finally say it – as of today, there is ‘steel in the water,’” said Klaus S. Moeller, CEO of Vineyard Wind, the company developing the Vineyard Wind... Continue Reading →
(Reuters) - Renewable energy group Orsted (ORSTED.CO) will invest 475 billion Danish crowns ($68 billion) to achieve a 2030 goal to install 50 gigawatts (GW) of power capacity, it said in an investor update on Thursday. The Danish company said the plans were fully self-funded and it expected to exceed goals set in 2021 for earnings before... Continue Reading →
(OW) The first GE Haliade-X blades for the 800 MW Vineyard Wind offshore wind farm have arrived at the New Bedford Marine Commerce Terminal in Massachusetts, USA. The 107-metre-long blades arrived on the Rolldock Sky heavy load vessel, which is currently docked in the Port of New Bedford, according to the latest AIS data. A couple of weeks ago,... Continue Reading →
(OW) SouthCoast Wind, the developer of an offshore wind lease area off the coast of Massachusetts, has started discussions with this US state’s representatives and utilities to terminate its existing Power Purchase Agreements (PPAs) citing ”material and unforeseen supply chain and financing cost increases affecting the whole offshore wind industry.” The SouthCoast Wind, a 2.4 GW... Continue Reading →
(Reuters) The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday. Saudi Arabia, the group's biggest producer, will make a deep cut to its output in July on top of a broader... Continue Reading →
(OET) The energy woes that befall the world in 2022 brought about the double whammy of rapidly working on diversifying the energy mix with more renewables while ramping up the crude oil and natural gas production to appease the increasingly intertwined concepts of energy security and transition to a green and low-carbon future. In this... Continue Reading →
(Reuters) - A group of U.S. congressmen have formally complained about what they call unfair ethanol trade practices by Brazil that includes a blockade of U.S. companies seeking to take part in the Brazilian low-carbon biofuel program RenovaBio. The bipartisan group of 21 members of the U.S. Congress are asking Trade Representative (USTR) Katherine Tai... Continue Reading →
Brazil Energy Insight 