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  • Gode Wind Utilises AkzoNobel’s Protection

    22 May 2015

    The first foundation has recently been installed at the Gode Wind offshore wind farm in the German North Sea. The foundations have been fabricated across Denmark and Germany by Bladt Industries and EEW. EEW are fabricating the monopiles, with Bladt Industries’ work focusing on the transition pieces. Coatings from AkzoNobel’s International protective coatings range were […]

  • Offshore Wind Sparks Recruitment Drive at DEME

    3 May 2017
    Business & Finance, Training & Education, Vessels

    Belgium’s DEME Group is recruiting more than 200 new employees in 2017 to meet the demand driven by the growth in offshore wind energy.

  • Vestas, Iberdrola Finalise Wind Turbine Supply Contract for Baltic Eagle OWF

    30 June 2021
    Business & Finance, Contracts & Tenders, Wind Farm Update

    Vestas and Iberdrola have finalised the wind turbine supply contract for the Baltic Eagle offshore wind farm in Germany. The final contract follows the selection of MHI Vestas as the preferred supplier for the project in 2019 and the agreement Vestas signed this May following the takeover of MHI Vestas at the end of 2020. The wind […]

  • Cadeler Signs Wind Turbine Installation Deal with Mystery Client

    4 November 2021
    Contracts & Tenders, Vessels

    Danish wind farm installation vessel owner and operator Cadeler A/S has secured a preferred supplier agreement (PSA) with an undisclosed client for the transport and installation of next-generation wind turbines. The contract has a final value above EUR 45 million and the installation project will be executed by one of Cadeler’s O-class vessels featuring a […]

  • SG 11.0-200 DD Turbine Model Secures Full Type Certificate Early

    31 May 2021
    R&D, Technology

    Siemens Gamesa has secured a Full Type Certificate for the SG 11.0-200 DD wind turbine model from TÜV NORD one year ahead of time, the turbine manufacturer said. “This is really a demonstration of how great technology and a true collaboration spirit within our development team can bring amazing results,” said Rasmus Haugaard, Senior Product […]

  • ST3 Offshore for Sale After Entering Bankruptcy

    25 February 2021
    Business & Finance

    Polish manufacturer of steel foundations for offshore wind farms, ST3 Offshore – which declared bankruptcy in March 2020 – has been put up for sale by the Official Receiver of the company in insolvency. A tender has been issued for the sale of ST3 Offshore with a reserve price of the company amounting to PLN […]

  • Seaway Ventus Now Sporting Its Second Telescopic Leg Crane

    24 March 2023
    Infrastructure, Vessels

    The second telescopic leg crane has been installed onboard Seaway 7’s next-generation wind turbine installation vessel (WTIV), Seaway Ventus, which is under construction at China Merchants Heavy Industry (CMHI) yard in Nantong, China. In the coming weeks, the mechanical crane assembly works and reeving will be finalised and the commissioning and load testing will start, said […]

  • Idle Jack-Ups Hit Fred. Olsen Ocean in Q1

    4 May 2018
    Business & Finance, Operations & Maintenance, Vessels

    Fred. Olsen Ocean has reported NOK 145 million operating revenue in the first quarter of 2018, a 60.2% slide compared to NOK 364 operating revenue in Q1 2017, attributed mainly to the underutilisation of the jack-up installation vessels Brave Tern and Bold Tern.

  • Seaway 7 Cuts Steel for Next-Generation Wind Turbine Installation Vessel

    25 November 2021
    Vessels

    The first steel has been cut for Seaway 7’s next-generation wind turbine installation vessel (WTIV) at the China Merchants Heavy Industry (CMHI) facility in Jiangsu, China. The ceremony marks the first major milestone in bringing its GustoMSC NG-14000XL-G jack-up vessel to the market, Seaway 7 said. The company has also revealed the new build vessel’s […]

  • BNEF: Biggest RE Asset Finance Made in European Offshore Wind

    15 July 2016
    Business & Finance

    Asset finance of renewable energy projects in the first half of 2016 was at USD 92 billion worldwide, down 19% on H1 2015, with the biggest asset finance deals of the second quarter made in offshore wind in Europe, according to the latest data from Bloomberg New Energy Finance (BNEF). This was led by the […]

  • Ørsted Sells Half of Hornsea One

    19 September 2018
    Business & Finance, Wind Farm Update

    Ørsted has signed an agreement to sell 50% of its 1.2GW Hornsea Project One offshore wind farm to Global Infrastructure Partners (GIP).

  • Ørsted Feels Good Winds

    1 November 2018
    Business & Finance

    Ørsted has achieved an operating profit (EBITDA) of DKK 10.8 billion (EUR 1.45 billion) in the first nine months of 2018, up 14% compared to 9M 2017, mainly due to a 32% increase in operating profits from wind farms in operation.

  • Ørsted’s Profit Down 52 Per Cent in Q1 2021

    29 April 2021
    Business & Finance

    Ørsted has reported a net profit of DKK 1.6 billion (EUR 215 million) for the first quarter of 2021, a 52 per cent decrease from DKK 3.3 billion from the same period last year. The Danish company saw an operating profit (EBITDA) of DKK 4.9 billion (EUR 659 million) for Q1 2021, a DKK 1.9 […]

  • SeaTerra Clears UXO from DolWin3 Cable Route

    24 August 2016
    Grid Connection, Technology

    SeaTerra GmbH has completed investigation of 278 objects and removal of eight unexploded ordnance (UXO) targets from the DolWin3 cable route in the German part of the North Sea. Commissioned by the transmission system operator TenneT, SeaTerra GmbH recently examined and cleared numerous metal objects from the future DolWin3 cable route between Emden and the […]

  • Germany Selects Six Offshore Wind Projects, Zero Subsidy Bids Reappear

    27 April 2018
    Authorities, Business & Finance, Contracts & Tenders

    Germany’s Federal Network Agency (Bundesnetzagentur) has selected six offshore wind projects in the second tendering round with at least one of the projects reaching the zero-subsidy level.

  • Ørsted Posts Strong Results, Sees No Significant Impact from COVID-19

    29 April 2020
    Business & Finance

    Leading offshore wind developer Ørsted reported an operating profit (EBITDA) of DKK 6.8 billion (EUR 912 million) for the first quarter of 2020, a 33 percent increase compared to the same period the year before. Net profit amounted to DKK 3.3 billion and return on capital employed (ROCE) came in at 11 percent for the […]

  • ST3 Still Looking for Buyer, Lowers Selling Price

    31 March 2021
    Business & Finance

    The bankrupt Polish offshore wind foundation manufacturer, ST3 Offshore, has not found a buyer through a tender issued in the second half of February, and has now opened a new tender with a 10 per cent lower starting price. The new tender, open for bidding until 14:00 on 14 April, offers a starting price of […]

  • Nestlé UK and Ørsted Sign Offshore Wind PPA

    27 April 2020
    Contracts & Tenders, Wind Farm Update

    Nestlé UK has signed a long-term corporate power purchase agreement to buy the output of 31 MW from Ørsted’s Race Bank offshore wind farm. The UK subsidiary of the world’s largest food and beverage company, Nestlé, signed a 15-year indexed fixed price agreement with Ørsted. This is Ørsted’s largest fixed-price corporate power purchase agreement (PPA) […]

  • Germany Accepts First Subsidy-Free Offshore Wind Auction Bid

    13 April 2017
    Authorities, Business & Finance, Grid Connection, Wind Farm Update

    Germany’s Bundesnetzagentur has selected three offshore wind projects by DONG Energy and one project by EnBW in the first auction for grid connections and funding for existing offshore wind farm projects, with one of the operators offering the lowest price bid of 0.00 Euro cents per kilowatt-hour.

  • DONG Picks Anglo-German Team for Hornsea One Transition Pieces

    7 February 2017
    Business & Finance, Wind Farm Update

    DONG Energy has hired Germany’s Steelwind Nordenham and Teesside-based Wilton Engineering Services Limited to supply the 1.2GW Hornsea Project One offshore wind farm with 20 transition pieces. The multi-million pound contract was signed in Port Clarence in Middlesbrough on Monday, 6 February. Wilton Engineering Services Limited will provide a significant part of the work scope including outfitting, […]

  • Offshore Wind Cushions Jan De Nul from Rough Dredging, Oil & Gas Markets

    30 May 2018
    Business & Finance

    Jan De Nul has reported a 2017 decline in the dredging market which, together with challenging conditions in the oil & gas industry, left a mark on its financial results. In the light of this, the company emphasised the role offshore wind had in its performance last year, adding that it sees further growth in the offshore renewables market, where its business is no longer restricted to Europe.

  • Ørsted Takes a Hit Offshore, Still Expects Highest Yearly Operating Profit

    20 January 2023
    Business & Finance

    World’s leading offshore wind developer Ørsted expects operating profit (EBITDA) for 2022 to total DKK 32.1 billion (EUR 4.3 billion), the company’s highest EBITDA to date, based on preliminary and unaudited reporting. The results are within the latest guidance and above the company’s initial expectations for the year, achieved during a year with unusual market […]

  • DONG Energy’s Wind Earnings Up, EBITDA Down in Q1 2017

    27 April 2017
    Business & Finance, Operations & Maintenance

    DONG Energy reported an operating profit (EBITDA) from continuing operations of DKK 3.3 billion (EUR 443.5 million) in the first quarter of 2017, a 53.5% slide compared with DKK 7.1 billion in Q1 2016, despite a 21% jump in earnings from commissioned wind farms.

  • Siemens Gamesa Reports EUR 56 Million COVID-19 Hit in Q2 2020

    6 May 2020
    Business & Finance

    The ongoing COVID-19 pandemic affected Siemens Gamesa’s operations and commercial activity, leaving a EUR 56 million mark on the company’s profitability in its second quarter of the fiscal year 2020 (January–March). Siemens Gamesa adjusted its operations to employ COVID-19 health and safety measures, and applied new solutions to ensure operations continue. The latter included re-routing […]

  • Ørsted Anticipates ‘Significantly Higher’ Offshore Earnings in 2023; Plans EUR 7 Billion in Gross Investments

    1 February 2023
    Business & Finance

    Ørsted reported an EBITDA of DKK 21.1 billion (approximately EUR 2.84 billion) for 2022 and expects this year’s operating profit to be in the similar range, between DKK 20 billion and DKK 23 billion (approx. EUR 2.67 billion and EUR 3.09 billion). For its offshore business, the developer anticipates 2023 earnings to be “significantly higher”. […]

  • PNE Wind Sees Red

    12 August 2016
    Business & Finance, R&D, Wind Farm Update

    German wind farm developer PNE Wind recorded EUR 1.4 million operating loss in the first six months of 2016, as compared to EUR 24 million operating profit reported for the same period a year earlier, as the high expenses related to the construction of wind farms dragged the company’s results down. In the first six months of 2016, the […]