The Scottish Government will invest up to GBP 500 million (approximately EUR 576 million) in the country’s offshore wind supply chain in the next five years, announced Scotland’s First Minister Humza Yousaf on 17 October. Up to GBP 500 million will leverage private investment in ports, manufacturing
Ingka Investments, the investment arm of Ingka Group, which owns retailer IKEA, has invested in Source Galileo’s portfolio of offshore wind projects in Ireland and the UK. Ingka Investments has secured a 20 per cent stake in the offshore wind project portfolio of Source Galileo. The London and Dubli
Volvo Cars and Eolus Vind have signed a letter of intent to collaborate on the Västvind offshore wind power project off the coast of Gothenburg, Sweden. The partnership is based on an ambition that the wind farm will supply electricity to Volvo Cars’ operations at Hisingen. The partnership involves
Ørsted has signed an agreement to divest 50 per cent of the Gode Wind 3 offshore wind farm in the German North Sea to funds managed by Glennmont Partners from Nuveen. Gode Wind 3 has a capacity of 253 MW and was awarded to Ørsted in 2017 and 2018 as two separate projects with a […]
Ørsted has selected Cathay Life Insurance as the preferred bidder for a 50 per cent ownership share in the 583 MW Greater Changhua 4 offshore wind farm in Taiwan. Following a competitive divestment process, Ørsted signed an exclusivity agreement with Cathay Life Insurance, selecting the Taiwanese in
The New York State Public Service Commission has denied petitions filed by a group of offshore wind developers and a state renewable energy trade association seeking financial relief for four proposed offshore wind projects and 86 land-based renewable projects. The petitions denied were submitted by
UK-based Inspirit Capital has acquired crew transfer vessel (CTV) owner CWind from Global Marine Group. CWind completes approximately 60,000 crew transfers annually, utilising its fleet of CTVs, including the world’s first hybrid surface effect ship, CWind Pioneer. The company provided services at w
The 99 MW Jeonnam I offshore wind farm in South Korea, being developed jointly by SK E&S and Danish Copenhagen Infrastructure Partners (CIP), has reached financial close. The construction completion of the wind farm is expected by the end of 2024. Jeonnam Offshore Wind Power was founded in 2020 as a
The European Commission (EC) has approved a EUR 193 million offshore wind support scheme in Lithuania to foster the country’s transition towards net zero. The project, to be supported under the scheme, will be selected through a competitive bidding process for a specified area in the Baltic Sea with
Japanese shipping company Mitsui O.S.K. Lines (MOL) has become a shareholder in the Norwegian floating offshore wind technology developer, Odfjell Oceanwind. According to Odfjell Oceanwind, the transaction generates significant capital which will be used to further strengthen the company’s position
Ocean Winds has joined forces with Banque des Territoires for the French AO7 South Atlantic offshore wind tender, through which the French government will select a developer for a 1 GW wind farm off the Ile d’Oléron. Earlier this year, France prequalified developers for the competitive dialogues for
Iberdrola and TMD Friction Services have signed a long-term power purchase agreement (PPA) to offtake energy from the Windanker offshore wind farm in the German part of the Baltic Sea. The 15-year agreement covers a supply of approximately 50 GWh of generated green electricity per year and will cove
