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Petrofac has secured a five-year framework agreement with Transmission Capital to provide engineering services across six of its Offshore Transmission Owner (OFTO) assets.
German investment company Aquila Capital has launched a EUR 750 million fund primarily seeking investments in onshore and offshore wind power, photovoltaics, hydropower, electricity grids and heat networks, as well as energy storage with an emphasis on greenfield projects.
Ofgem has appointed Transmission Capital Partners as the preferred bidder to own and operate the high-voltage transmission link to the Dudgeon offshore wind farm for the next 20 years.
With global offshore wind expenditure expected to rise to over GBP 350 billion between now and 2026, subsea companies have a huge opportunity to step up and play their part in helping to meet the world’s renewable energy targets, according to Subsea UK.