The pre-money equity value of Fred. Olsen Windcarrier has been estimated to be between NOK 2.5 billion and NOK 2.75 billion (approximately between EUR 250 million and EUR 275 million), according to information shared on 14 February on Oslo Stock Exchange, which has now admitted the company’s shares
The Swedish government has launched a search for new sea areas suitable for the development of offshore wind farms to support the country’s newly established plan of generating up to 120 terawatt-hours of electricity annually from this renewable source. The government has now decided on Sweden’s fir
South Fork Wind, a 50-50 joint venture between Ørsted and Eversource, has approved the final investment decision (FID) for the project that will be New York’s first offshore wind farm. This final investment solidifies the companies’ commitment to the 132 MW offshore wind farm. The FID also marked th
SeAH Wind Ltd will build a GBP 200-300 million UK XXL monopile manufacturing facility at Teesworks and not at Able UK’s Able Marine Energy Park (AMEP) on the South Bank of the Humber as initially planned. SeAH Wind Ltd, a subsidiary of South Korea’s pipe manufacturer SeAH Steel Holdings, has not spe
Denmark-headquartered marine survey provider, Survey Association, has decided to exit the US offshore wind market. Survey Association has been involved in the offshore wind markets in Europe and Japan for more than two decades. In 2020, the company formed a strategic alliance with Charles Taylor Mar
Italian oil and gas major Eni has completed the aquisition of a 20 per cent stake in the 1.2 GW Dogger Bank C offshore wind farm in the UK. Eni bought the stakes from Equinor (ten per cent) and SSE Renewables (ten per cent). Eni is already a partner with SSE Renewables and Equinor on […]
French President Emmanuel Macron has announced that France will have around 40 GW of offshore wind capacity in operation by 2050. This capacity corresponds to around 50 offshore wind farms, President Macron said in a speech at GE’s steam turbine factory for nuclear power plants in Belfort. The offsh
Hydrographic and geophysical surveys are set to start on the proposed Sheringham Shoal and Dudgeon Extension offshore wind projects in March. The vessel Ocean Research is expected to begin the work around 1 March offshore the North Norfolk coast. Activities will continue for an estimated 120 days, e
After signing an agreement with Glennmont Partners in October 2021, Ørsted has now completed the divestment of 50 per cent of the 900 MW Borkum Riffgrund 3 offshore wind farm in Germany. This was the developer’s first farm-down to an institutional investor signed prior to taking a final investment d
The Government of Norway has revealed further details about the upcoming offshore wind auctions at the Sørlige Nordsjø II and Utsira Nord zones with a combined capacity of 4.5 GW. The 3 GW of fixed-bottom capacity at the Sørlige Nordsjø II zone will be auctioned off in two 1.5 GW phases. The auction
Researchers at the University of Malta have kicked off research to assess how the significant amounts of CO2 available from carbon capture and storage (CCS) facilities may support offshore energy storage systems co-located within the same footprint of wind farms. The Investigating the thermal perfor
Forth Ports Limited (Forth Ports) has acquired Dundee-based heavy lifting specialist OM Heavy Lift (OMHL) to offer a full-service package for offshore renewables projects. Financial details of the acquisition have been left undisclosed. Forth Ports announced that the acquisition of OMHL will enhance
Vattenfall has joined forces with Norwegian company Seagust to bid for offshore wind areas in Norway’s upcoming licensing rounds. The two companies have established a joint venture to participate in the auction, which represents Vattenfall’s entry into the Norwegian offshore wind market. The compani
Polish energy companies PKN Orlen and PGE have separately submitted multiple applications for location permits to develop offshore wind farms in newly designated areas of the Polish Baltic Sea. The Polish Ministry of Infrastructure opened a 60-day window for developers to apply for location permits
