Ørsted and the Incheon Free Economic Zone Authority (IFEZA) have signed a memorandum of understanding (MoU) to strengthen the cooperation on the green transformation and carbon neutrality of the Incheon Free Economic Zone (IFEZ) in South Korea. Under the MoU, Ørsted Korea and IFEZA agreed to explore
The Official Receiver of the insolvent Polish manufacturer of offshore wind foundations, ST3 Offshore, is putting the company up for sale once again. This is most likely the last time buyers are invited to take over ST3 Offshore as a complete entity, following several earlier attempts to sell the co
TenneT is investigating the possible sale of its German activities to the German state in order to achieve the energy transition objectives, the Dutch-German transmission system operator (TSO) said. In recent years, TenneT has developed into the world’s largest investor and operator of offshore wind
Offshore Energy Exhibition & Conference (OEEC) 2023, Europe’s premier meeting point for the offshore energy sector, has opened the floorplan for this year’s event. In 2023, as in the years before, OEEC will bring together professionals from oil & gas, offshore wind, floating wind, marine energy, hyd
Siemens Gamesa and Doosan Enerbility have signed a binding framework agreement for a strategic partnership for the South Korean offshore wind market. The agreement follows a non-binding Memorandum of Understanding (MOU) the two companies signed in June, under which they were first investigating pote
As reported last month, Siemens Gamesa Renewable Energy posted a significant net loss for its Q1 2023 (October–December 2022), mainly due to specific components’ failure rates, and its net financial debt totalled EUR 1.9 billion as of 31 December 2022. However, looking long-term, the company sees a
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
Last November, the annual Offshore Energy Exhibition and Conference took place in Amsterdam. The UK’s Department for International Trade (DIT) and wider UK Government partners organised and participated in various activities over the two-day programme, spotlighting the strength of UK offshore energy
Gwynt Glas Floating Wind Energy, a joint venture between EDF Renewables UK and DP Energy, has announced details of its first local supply chain event taking place on 1 March. The event, which will be held at Parc y Scarlets, South Wales, is open to businesses interested in finding out about regional
Ørsted expects to reach a final investment decision (FID) on its next offshore wind project in Taiwan, the 920 MW Greater Changhua 2b & 4, during this year, as planned. This will move the project into the construction phase and set it on the path towards commissioning in 2025. Ørsted was awarded rig
Vineyard Wind, a joint venture between Avangrid and Copenhagen Infrastructure Partners (CIP), has entered into a partnership with Shoreline Offshore to build a berthing and fueling area for crew transfer vessels (CTVs). The work will involve deploying two floating barges on Pope’s Island, New Bedfor
German energy company RWE has ordered two 100-megawatt proton exchange membrane (PEM) electrolysers from Linde Engineering for its GET H2 hydrogen project. The two electrolyser plants, which will be powered by offshore wind from the North Sea, are part of RWE’s efforts to build a total of 300 MW of
Oceaneering, a Norwegian subsidiary of Texas-headquartered Oceaneering International, and Havfram-owned company Kontiki Winds are teaming up on microgrid electrification projects using floating wind turbines to power offshore oil and gas assets and remote island states. Under a Memorandum of Underst
Danish wind turbine maker Vestas said its full-year results will be lower than the outlook after the fourth quarter results were negatively impacted by additional challenges. The negative impact in the fourth quarter has caused the full-year results to be lower than the outlook, primarily driven by
