The State of New York will make a USD 500 million investment in offshore wind, hold a new auction in 2022, and explore its floating wind potential, New York Governor Kathy Hochul revealed in her 2022 State of the State. New York will invest up to USD 500 million in the ports, manufacturing, and supp
BW Ideol AS has executed an investment agreement with Japan’s JERA and France’s ADEME Investissement to create an investment company for financing the co-development of floating offshore wind projects using BW Ideol’s patented Damping Pool® technology over the next five years. BW Ideol will hold 51
Polish utility and renewable energy company Polenergia and Lithuania-based Modus Energy, also operating in the renewable energy sector, have agreed on the key terms of an agreement which will see the two parties establishing a joint venture (JV) to develop offshore wind projects in the Baltic Sea. A
Throughout the last year, some of our Premium articles published on Offshore Energy sparked significant interest. Here, we are bringing the top five offshore wind Premium articles on Offshore Energy in 2021: A new method to install offshore wind turbines is said to cut installation time by 89 per ce
Cumulative offshore wind capacity is forecast to more than triple by 2026, reaching almost 120 GW, according to the Renewables 2021 – Analysis and forecasts to 2026 report from the International Energy Agency (IEA). We are going to end this year with offshore wind additions reaching 11 GW, almost do
Tech startup Hydro Wind Energy is in the process of developing scaled prototypes of high-altitude kites powered by offshore wind with the goal to ”disrupt global energy and desalination markets”. The technologies for power generation and energy storage, OceanHydro Wind, and water desalination, SubSe
Chinese wind turbine manufacturer Ming Yang Smart Energy has notched its first order for an offshore wind project in Japan. Ming Yang signed a contract to deliver three MySE 3.0MW typhoon-proof turbines for an undisclosed 9 MW offshore wind farm in the Japanese Sea. Construction will begin in 2022,
Sweden’s Hexicon has created a 50-50 joint venture – AvenHexicon SRL – with Avapa Energy to jointly develop floating wind power projects in waters offshore Italy. In addition, Hexicon will license its patented technology to AvenHexicon for use in its projects and by third parties. Italy is one of th
Edda Wind has entered into a long-term contract for one of its newbuild vessels with Siemens Gamesa Renewable Energy. The company has not specified which of its vessels will be chartered to the wind turbine manufacturer, but according to information in Edda Wind’s press release from 27 December, the
Consortia in which Mitsubishi Corporation is the main stakeholder have been selected to develop all of the projects offered in Japan’s first fixed-bottom offshore wind auction. The Mitsubishi-led consortia have been selected to build an 819 MW Yurihonjo wind farm offshore Akita Prefecture, a 478.8 M
Marianne Wiinholt has decided to step down as the Chief Financial Officer (CFO) of Ørsted to accept a position outside the energy industry. Wiinholt served as Ørsted’s CFO for the past eight years and will continue in the role until 30 June 2022 at the latest. ”I have been part of Ørsted’s amazing j
German wind and solar specialist wpd has signed a corporate power purchase agreement (CPPA) with a company from Taiwan’s semiconductor industry for over 1 GW of wind capacity, with around half of it coming from offshore wind. This is the largest green CPPA in Asia, according to wpd, which has not re
A study into the offshore wind opportunities and challenges in the US State of Connecticut has found that, while the state can already meet many of the industry’s requirements, Connecticut needs to quickly add other elements to attract and fully accommodate the industry, and to position itself highe
Offshore wind projects coming online in 2021 are getting revenues that are on a EUR per MWh basis on average 55 per cent lower than in 2014, according to Wood Mackenzie. And the most recent bids and WoodMac’s projection show that revenues in 2025 will be 25 per cent lower than in 2021, the energy [&
